Document 99GyovmnnQwe27382q72xv7ER

401 PSC Will Construct Hew Generating Plant By WARREN LOWE Rocky Mountain News Business Editor Construction of a new generating plant will be started by the Public Service Co. north of Denver around July 1, J. E. Loiseau, president, said Friday in commenting on a new com mon stock issue. The new Cherokee Station will be built on a recently acquired *THE DENVER POST Friday, May 13,1955 tract of land lying between Frank 49B lin and York sts. near E. 60th ave. PSCThe first unit will have 100,000 kilowatt capacity and the entire plant will, when completed,' be rated at 1 million kilowatts. to Spend Public Service Co. officials said the new Cherokee plant probably will be the last major plant to $80 Millionbe operated by conventional fuel and that new plants in the area would be operated by atomic By ROBERT MURRAY sion Friday a registration state energy. Financial Editor ment on its proposed issue of 275,- The company filed a registration Anticipated proceeds of some 464 additional shares to stockhold certificate Friday with the Secu $13,000,000 from the proposed new ers. In addition, the company rities and Exchange Commission common stock issue of Public plans to sell to its employes 27,546 covering the proposed common Service Co. of Colorado will go shares or a total of 303.010 shares. stock issue. toward the utility's continuing About June 3, stockholders of Around June 3, present stock construction program. record will be offered one new holders will be offered a total of 275,464 additional shares of common stock on the basis of one new share for each 10 cur rently held. Proceeds from the stock sale will be used in the company's construction program. It is esti President J. E. Loiseau said share for each 10 held. The price Friday that program is currently will be fixed shortly before the estimated at $80,000,000 for 1955, offering. Rights will expire about 1956 and 1957. June 20. The company filed with the HEARING SET MAY 17 securities and exchange commis Hearing on application of the company to issue the stock has mated that $80 million will be been scheduled by the state public spent on construction this year and in 1956 and 1957. Of the total, $33 million is ear utilities commission for 9:30 a. n>. May 17 in room 330 State Office Bldg. marked for additional power Loiseau said in a letter to stock projects, including the start on holders that it was expected that the Cherokee plant. the offering, when made, would Also included is the completion be underwritten. of a new 100,000-kilowatt unit at The firm's proposed three-year the Arapahoe Station in Denver, and a 15,000-kilowatt addition in the Grand Junction area. Additions to electric transmis sion lines will require $11 million and electric distribution facilities will require $17 million. Gas department additions and extensions will require $16 million and additions to garage and serv ice buildings and equipment pur chase will take another $3 million, Loiseau said. outlay will include $33,000,000 for additional power projects, includ ing completion of the 100,000-kilo watt unit at Arapahoe Station, a 100,000-kilowatt unit at the new Cherokee Station in Denver, a 15,000-kilowatt addition in the west ern part of the company's terri tory and $3,000,00(F toward con struction of the second 100,000kilowatt unit at the Cherokee Sta tion. Additions to electric transmis sion lines will cost $11,000,000 while $17,000,000 will be required for electric distribution lines. The gas department will require $16,000,000 and additions to ga rages and service buildings and automotive and other equipment I $3,000,000. WAD01404