[Federal Register Volume 60, Number 106 (Friday, June 2, 1995)]
[Notices]
[Pages 28822-28823]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-13531]



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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26297]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

May 26, 1995.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated thereunder. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments thereto is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by June 19, 1995, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
shall identify specifically the issues of fact or law that are 
disputed. A person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After said date, the application(s) and/or declaration(s), as 
filed or as amended, may be granted and/or permitted to become 
effective.

Blackstone Valley Electric Company (70-8633)

Notice of Proposal to Increase Unsecured Indebtedness Limitation of 
Preferred Stock; Order Authorizing Solicitation of Proxies
    Blackstone Valley Electric Company (``BVEC''), Washington Highway, 
P.O. Box 1111, Lincoln, Rhode Island 02865, an electric public-utility 
subsidiary company of Eastern Utilities Associates, a registered 
holding company, has filed a declaration with the Commission under 
Sections 6(a), 7, and 12(e) of the Act and Rules 62 and 65 
thereunder. [[Page 28823]] 
    The terms of the preferred stock of BVEC provide that, except with 
the consent of a majority of the preferred stock then outstanding, the 
amount of unsecured indebtedness of the company having maturities of 
less than ten years which the company may issue or assume shall not 
exceed 10% of the sum of the principal amount of all bonds and other 
securities representing secured indebtedness and the capital and 
surplus of the company. The amount of all unsecured indebtedness of the 
company issued or assumed shall not exceed 20% of such sum.
    At a special meeting of the holders of BVEC preferred stock held on 
October 8, 1985, BVEC was authorized, for a five year period ending 
October 1, 1990, to issue or assume unsecured indebtedness, having 
maturities of less than ten years, in excess of the 10% limitation. 
Subsequently, at a special meeting of the holders of BVEC preferred 
stock held on September 27, 1990, it was voted to extend such 
authorization for an additional five year period ending October 1, 
1995.
    BVEC now seeks Commission authorization to issue or assume 
unsecured indebtedness having maturities of less than ten years in 
excess of the 10% limitation at various times during an additional five 
year period. In addition under applicable provisions of the Preferred 
Stock Provisions, adoption of the proposal with respect to the 
unsecured debt limitation requires the affirmative vote of a majority 
of the total number of outstanding shares of BVEC's preferred stock 
(which consists of two series par value of $100 per share) voting as a 
single class.
    BVEC proposes and requests authorization to submit the proposal to 
extend the authorization permitting the issuance or assumption by BVEC 
of unsecured indebtedness having maturities of less than ten years in 
excess of the 10% limitation to the holders of its preferred stock for 
approval at the special meeting of preferred stockholders to be held on 
July 6, 1995. In connection therewith, BVEC proposes to solicit proxies 
from its preferred stockholders.
    It's appearing that the declaration, as amended, regarding the 
proposed solicitation of proxies should be permitted to become 
effective forthwith pursuant to Rule 62:
    It is ordered, pursuant to Rule 62, that the declaration regarding 
the proposed solicitation of proxies be, and it hereby is, permitted to 
become effective forthwith, subject to the terms and conditions 
prescribed in Rule 24 under the Act.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-13531 Filed 6-1-95; 8:45 am]
BILLING CODE 8010-01-M