[Federal Register Volume 62, Number 138 (Friday, July 18, 1997)]
[Notices]
[Page 38591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18921]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26740]


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

July 11, 1997.
    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 August 4, 1997, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 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.

AEP Generating Company (70-8237)

    AEP Generating Company (``Generating''), 1 Riverside Plaza, 
Columbus, Ohio 43215, an electric public-utility subsidiary company of 
American Electric Power Company, Inc. (``AEP''), a registered holding 
company, has filed a post-effective amendment under section 12(c) of 
the Act and rules 46 and 54 under the Act to its declaration filed 
under section 12(c) of the Act and rule 46 under the Act.
    By orders dated December 10, 1993 and August 24, 1994 (HCAR Nos. 
25943 and 26112, respectively), Generating was authorized to declare 
and pay to AEP, through December 31, 1997:
    (1) dividends up to the full amount of its retained earnings; and
    (2) additional dividends (``Additional Dividends'') up to $16 
million out of other paid-in capital. The authorization required 
Generating to maintain 30% common equity to total capitalization. To 
date, Generating has paid $13.5 million in such dividends. As of March 
31, 1997, Generating had paid-in capital of $42,235,000.
    Generating now proposes to pay dividends out of paid-in capital to 
AEP from time to time through December 31, 2002, to the full extent 
permitted by applicable corporate law.\1\ Generating also requests 
removal of the requirement that, in the payment of any dividend out of 
capital, it maintain a percentage of common equity to total 
capitalization at or above 30%.

    \1\ Pursuant to Section 1701.33 of the Ohio Revised Code, the 
relevant state law applicable to Generating, the directors may 
declare dividends out of surplus. Surplus is defined to be the 
excess of a corporation's assets over its liabilities plus stated 
capital.
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    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-18921 Filed 7-17-97; 8:45 am]
BILLING CODE 8010-01-M