Exhibit 25-B
FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) |__|
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THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 13-5160382
(State of incorporation (I.R.S. employer
if not a U.S. national bank) identification no.)
One Wall Street, New York, N.Y. 10286
(Address of principal executive offices) (Zip code)
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MET-ED CAPITAL TRUST
(Exact name of obligor as specified in its charter)
Delaware Applied for
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
The Bank of New York (Delaware)
White Clay Center, Route 273
Newark, Delaware 19711
(Address of principal executive offices) (Zip code)
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Trust Securities
Title of the indenture securities)
1. General information. Furnish the following information as to the Trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
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Name Address
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Superintendent of Banks of 2 Rector Street, New York, N.Y.
the State of New York 10006, and Albany, N.Y. 12203
Federal Reserve Bank of 33 Liberty Plaza, New York,
New York N.Y. 10045
Federal Deposit Insurance Washington, D.C. 20429
Corporation
New York Clearing House New York, New York 10005
Association
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
2. Affiliations with Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None.
16. List of Exhibits.
Exhibits identified in parentheses below, on file with the Commission,
are incorporated herein by reference as an exhibit hereto, pursuant to
Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17
C.F.R. 229.10(d).
1. A copy of the Organization Certificate of The Bank of New York
(formerly Irving Trust Company) as now in effect, which
contains the authority to commence business and a grant of
powers to exercise trust powers. (Exhibit 1 to Amendment No. 1
to Form T-1 with Registration Statement No. 33-6215, Exhibits
1a and 1b to T-1 filed with Registration Statement No.
33-21672 and Exhibit 1 Form T-1 filed with Registration
Statement No. 33-29637.)
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4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to
Form T-1 filed with Registration Statement No. 33-31019.)
6. The consent of the Trustee required by Section 321(b) of the
Act. (Exhibit 6 to Form T-1 filed with Registration Statement
No. 33-44051.)
7. A copy of the latest report of condition of the Trustee
published to law or to the requirements of its supervising or
examining.
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SIGNATURE
Pursuant to the requirements of the Act, the Trustee, The Bank of New
York, a corporation organized and existing under the laws of the State of New
York, has caused this statement of eligibility to be signed on its behalf by
the, thereunto duly authorized, all in The City of New York, and State of York,
on the 2nd day of September, 1998.
THE BANK OF NEW YORK
By: /s/ROBERT A. MASSIMILLO
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Name: ROBERT A. MASSIMILLO
Title: Assistant Vice President
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Exhibit 7
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Consolidated Report of Condition of
THE BANK OF NEW YORK
of 48 Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries, a member of the Federal
Reserve System, at the close of business March 31, 1998, published in accordance
with a call made by the Federal Reserve Bank of this District pursuant to the
provisions the Federal Reserve Act.
Dollar Amounts
ASSETS Thousands
Cash and balances due from depository institutions:
Noninterest-bearing balances and
currency and coin $ 6,397,993
Interest-bearing balances 1,138,362
Securities:
Held-to-maturity securities 1,062,074
Available-for-sale securities 4,167,240
Federal funds sold and Securities
purchased under agreements to resell 391,650
Loans and lease financing receivables:
Loans and leases, net of
unearned income 36,538,242
LESS: Allowance for loan and lease losses 631,725
LESS: Allocated transfer risk reserve 0
Loans and leases, net of
unearned income, allowance, and reserve 35,906,517
Assets held in trading accounts 2,145,149
Premises and fixed assets
(including capitalized leases) 663,928
Other real estate owned 10,895
Investments in unconsolidated subsidiaries
and associated companies 237,991
Customers' liability to this bank
on acceptances outstanding 992,747
Intangible assets 1,072,517
Other assets 1,643,173
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Total assets $55,830,236
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LIABILITIES
Deposits:
In domestic offices $24,849,054
Noninterest-bearing 10,011,422
Interest-bearing 14,837,632
In foreign offices, Edge and
Agreement subsidiaries, and IBFs 15,319,002
Noninterest-bearing 707,820
Interest-bearing 14,611,182
Federal funds purchased and Securities
sold under agreements to repurchase 1,906,066
Demand notes issued to the U.S.
Treasury 215,985
Trading liabilities 1,591,288
Other borrowed money:
With remaining maturity of one year or less 1,991,119
With remaining maturity of more than
one year through three years 0
With remaining maturity of more than
three years 25,574
Bank's liability on acceptances exe-
cuted and outstanding 998,145
Subordinated notes and debentures 1,314,000
Other liabilities 2,421,281
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Total liabilities 50,631,514
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EQUITY CAPITAL
Common stock 1,135,284
Surplus 731,319
Undivided profits and capital reserves 3,328,050
Net unrealized holding gains (losses) on
available-for-sale securities 40,198
Cumulative foreign currency transla-
tion adjustments ( 36,129)
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Total equity capital 5,198,722
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Total liabilities and equity capital $55,830,236
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I, Robert E. Keilman, Senior Vice President and Comptroller of
the above-named bank do hereby declare that this Report of has been prepared in
conformance with the instructions by the Board of Governors of the Federal
Reserve System and true to the best of my knowledge and belief.
Robert E. Keilman
We, the undersigned directors, attest to the correctness of this
of Condition and declare that it has been examined by us and the best of our
knowledge and belief has been prepared in with the instructions issued by the
Board of Governors the Federal Reserve System and is true and correct.
Thomas A. Renyi }
Alan R. Griffith } Directors
J. Carter Bacot }