|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: SHARED MEDICAL SYSTEMS CORP, SC 13G/A, 1996-02-16 |
Next: CAPITAL CASH MANAGEMENT TRUST, NSAR-A, 1996-02-16 |
CERTIFICATE OF NOTIFICATION
Filed by
SOUTHERN ELECTRIC RAILROAD COMPANY
Pursuant to Order of the Securities and Exchange Commission dated January 13,
1993 (HCAR No. 35-25734) in the matter of File No. 70-7911.
The following information is provided in response to the requirements of the
above stated order.
(1) Balance Sheet and Income Statement at December 31, 1995. Reference
is made to Exhibit A filed herewith.
(2) Reasonable detail concerning the activities undertaken by Railroad
Subsidiary during the applicable six-month period, including
commencement of construction of any Rail Line and information
concerning such Rail Line, such as its location and the Operating
Company and generating facility to be served thereby.
Southern Electric Railroad Company's Miller Railroad Project
Phase I construction of the rail line was completed in October, 1994
and the rail line is in service. Filing of the documents to convey the
assets to Alabama Power Company is in progress.
Southern Electric Railroad Company's McIntosh Railroad Project for
Savannah Electric and Power Company
Negotiations with CSX Railroad were completed in 1995. Construction is
planned to commence in March 1996 and the project is expected to be
complete by January 1997.
Southern Electric Railroad Company's Turnout Project for Southern
Electric Generating Company
The project was completed in November, 1995 and the line is in service.
Documents to transfer the assets to Southern Electric Generating
Company are in process.
<PAGE>
-2-
Southern Electric Generating Company (SEGCO)
SEGCO transferred operation and maintenance responsibility for its
Gaston line (known as SEGCO Railroad) to the Southern Electric Railroad
Company (SERCO) effective August 9, 1995. SEGCO granted an easement to
SERCO in conjunction with this transfer.
(3) Reference is made to Certificates of Notification previously filed with
the Commission dated February 5, 1993 relating to Alabama Power
Company; May 18, 1993 relating to Savannah Electric and Power Company;
and November 28, 1994 relating to Southern Electric Generating Company.
(4) No information to report at this time.
Dated February 15, 1996
SOUTHERN ELECTRIC RAILROAD COMPANY
By /s/ Wayne Boston
Wayne Boston
` Assistant Secretary
<PAGE>
<TABLE>
<CAPTION>
Exhibit A
THE SOUTHERN ELECTRIC RAILROAD COMPANY
FINANCIAL STATEMENTS
DECEMBER 1995
Contents Page No.
<S> <C>
Income Statement 1
Balance Sheet 2
Balance Sheet Details 3
Notes to the Financial Statements 4
</TABLE>
<PAGE>
4
<TABLE>
<CAPTION>
SOUTHERN ELECTRIC RAILROAD COMPANY
INCOME STATEMENT
DECEMBER 31, 1995
REVENUE
<S> <C>
SERVICES RENDERED $77,909.16
TOTAL REVENUE 77,909.16
EXPENSES
AMORTIZATION EXPENSE-ORGANIZATION COSTS 333.60
TAXES OTHER THAN INCOME TAX 109.22
LEGAL EXPENSES 20,687.16
SCS FEES AND EXPENSES 38,904.16
OUTSIDE SERVICES 14,040.92
CORPORATE FEES AND EXPENSES 3,834.10
----------
TOTAL EXPENSES 77,909.16
NET INCOME (LOSS) $ 0.00
=============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SOUTHERN ELECTRIC RAILROAD COMPANY
BALANCE SHEET
DECEMBER, 1995
ASSETS AND OTHER DEBITS
<S> <C>
PROPERTY AND OTHER INVESTMENTS:
ORGANIZATION-NET $ 862.01
CONSTRUCTION WORK-IN-PROGRESS-NET 0.00
--------------
TOTAL PROPERTY AND OTHER INVESTMENTS 862.01
CURRENTS ASSETS:
CASH 16,896.25
ACCOUNTS RECEIVABLE-ASSOC.COMPANIES 65,976.87
TOTAL CURRENT ASSETS 82,873.12
TOTAL ASSETS AND OTHER DEBITS $83,735.13
LIABILITIES AND STOCKHOLDER EQUITY
STOCKHOLDER EQUITY:
CAPITAL STOCK - 5,000 SHARES at $1 $ 5,000.00
RETAINED EARNINGS 0.00
--------------
TOTAL STOCKHOLDER EQUITY 5,000.00
CURRENT LIABILITIES:
ACCOUNT PAYABLE - NON-ASSOC. COMPANIES 441.75
ACCOUNTS PAYABLE - ASSOC. COS. 78,293.38
TOTAL CURRENT LIABILITIES 78,735.13
TOTAL LIABILITIES AND STOCKHOLDER EQUITY $83,735.13
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE BALANCE SHEETS.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SOUTHERN ELECTRIC RAILROAD COMPANY
BALANCE SHEET DETAILS
DECEMBER 1995
PROPERTY AND OTHER INVESTMENTS
<S> <C>
ORGANIZATION $1,668.21
ACCUMULATED AMORITIZATION 806.20
ORGANIZATIONAL COSTS - NET $ 862.01
=========
CONSTRUCTION-WORK-IN-PROGRESS
CONSTRUCTION-WORK-IN-PROGRESS (CWIP):
ALABAMA POWER COMPANY $4,766,938.47
ALABAMA POWER COMPANY - EASEMENT 381,755.09
SAVANNAH ELECTRIC AND POWER COMPANY 866,094.85
SOUTHERN ELECTRIC GENERATING COMPANY 1,043,664.44
-------------
TOTAL CWIP 7,058,452.85
LESS: CWIP BILLED
ALABAMA POWER COMPANY $5,148,693.56
SAVANNAH ELECTRIC AND POWER CO. 866,094.85
SOUTHERN ELECTRIC GENERATING COMPANY 1,043,664.44
--------------
TOTAL CWIP BILLED 7,058,452.85
NET CONSTRUCTION-WORK-IN-PROGRESS $ 0 .00
==================
CURRENT ASSETS
CASH - NATIONSBANK $16,896.25
==========
ACCOUNTS RECEIVABLE
ALABAMA POWER COMPANY $ 5,192.90
SAVANNAH ELECTRIC AND POWER COMPANY 29,736.41
SOUTHERN ELECTRIC GENERATING COMPANY 31,047.56
----------
TOTAL ACCOUNTS RECEIVABLE $65,976.87
<PAGE>
CURRENT LIABILITIES
SOUTHERN COMPANY SERVICES, INC. $74,755.38
ALABAMA POWER COMPANY 1,203.27
GEORGIA POWER COMPANY 1,666.40
GULF POWER COMPANY 242.00
MISSISSIPPI POWER COMPANY 214.76
SAVANNAH ELECTRIC & POWER COMPANY 127.01
SOUTHERN ELECTRIC AND POWER COMPANY 84.56
------------
TOTAL ASSOCIATED COMPANIES 78,293.38
NON-ASSOCIATED COMPANIES 441.75
TOTAL CURRENT LIABILITIES $78,735.13
</TABLE>
SOUTHERN ELECTRIC RAILROAD COMPANY
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1995
1. General
Description
Southern Electric Railroad Company (SERC) is a wholly owned subsidiary
of The Southern Company (Southern). Southern is registered as a holding
company under the Public Utility Holding Company Act of 1935 (PUHCA).
Other companies owned by Southern include five operating companies, a
system service company, Southern Electric International, Inc., The
Southern Development and Investment Group, Inc., Southern Nuclear
Operating Company, Southern Electric Bahamas Holdings Ltd., Southern
Electric International Holdings, Inc. and Southern Electric Wholesale
Generators.
SERC is currently designing and constructing railroad facilities to be
owned by various operating company subsidiaries of Southern. During the
construction period, construction work in progress is reflected on the
books of the operating company. However, SERC continues to hold title.
After construction is completed, SERC will transfer title to the
appropriate operating company but hold an easement granting sole
authority to operate and maintain the facilities. All services are
provided at cost.
2. SERC has authorized capital stock of 100,000 shares of one dollar
($1.00) par value common stock. Southern owns all 5,000 shares
currently outstanding.
|
|