SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 21, 1998
THE SOUTHERN COMPANY
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(Exact name of registrant as specified in its charter)
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Delaware 1-3526 58-0690070
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(State or other jurisdiction (Commission File (IRS Employer Identification
of incorporation) Number) No.)
270 Peachtree Street, NW, Atlanta, Georgia 30303
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (770) 393-0650
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
Since their purchase, the values of certain South American
investments of The Southern Company ("Southern") have declined significantly;
therefore, in fiscal year 1998 Southern plans to take a one time charge to net
income to reflect this decline in value. The amount of such charge has not yet
been determined. Such one time charge will significantly impact reported net
income for 1998, but is not expected to impact future periods. Southern's equity
in these investments totals approximately $400,000,000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: December 21, 1998 THE SOUTHERN COMPANY
By /s/ Patricia Roberts
Patricia Roberts
Assistant Secretary
