ELECTRIC LIGHT WORKS.

Dominion, Volume 1, Issue 264, 31 July 1908, Page 9

ELECTRIC LIGHT WORKS.

MUNICIPAL WORKING FOR ELEVEN MONTHS. i GRATIFYING RESULTS. • A return of revenue and expenditure in connection with tho Electric Lighting Department from August 1, 1907 (tho dato when the Corporation took gver the undertaking) until Juno 30, 1908, with comparativo figures for tho corresponding periods in tho previous yoar under tho Company's control, was submitted at last night's meeting of tho City Council, . NET SURPLUS. Tho total revenue for the whole period had, it was stated, amounted to £39,113, an increase of £1386 over tho corresponding.eleven months of'tho preceding yoar. Tho working expenses amounted to £19,953, or £740 moro than, under the Company. Tho gross sur-. phis amounted to £18,159, as compared with £17,512, an increaso of £646. After allowing for proportion of interest £5903, sinking fund £2750, and depreciation charges £4797, amounting altogether to £13,450, tho not surplus for. the eleven months was £4709. Judging from returns of previous year and the "last cloven months July should add £1639 to tho net surplus,, making a total profit for tho year of £6390. The returns for tho quarter ended June 30, 1908, showed that tlio' revenue had increased over tho corresponding period of last year by £361, and tho working expenses had decreased by £245, making tho gross profits £609 moro than attained by the Company. COMPARATIVE FIGURES. Excess of Rovcnuo ovor Period. Management. Working E'p'ses. £ s. d. Aug. 1907 Corporation ■■■■ 2315 7 3 . „ 1906 Company 2375 5 9 Sep. 1907 Corporation 2107 7 8 ~1906 Company -1895 16' 4 Oct. 1907 ; .Corporation,! .'.1688 13.'8 ~ 1906 . Company . 1765 211 Nov. 1907 Corporation 1240 1 5 ~1906 Company - 1165 810 Dec, 19Q7 Corporation 636 12 ,7 „ 1906 Company 605 4 7 Jan. : 1908 Corporation 699 7 9 „ : 1907 .* Company . 872 1. 7 Fob. 1903 Corporation 776 10 0 „ 1907 •.-■* Company 1021 ,4 10 Mar. 1908 Corporation * 1243 18 11 „ 1907 Company 970 6 10 Apr. 1908 ■ Corporation 1899 19 4 j „ 1907 Company : 1918 111 May 190S> ' Corporation 2624 17 5 : „ 1907 Company 2416 12 10 June 1908. . Corporation 2926 10 5 „ 1907 Company 2507 4 10 Councillor' Shirtcliffe said tlut tho wholo undertaking gavo promise, of tlio greatest success, and tho City was to bo congratu- r latodat .the highly satisfactory results, which fully justified tlio City's purchaso-from" tho syndicate. As to tho balance-sheet, while ho considerod it very satisfactory,' ho hoped that by tlio expiry of' the first completo year adequato provision w*ould bo mado for the. writing off of items appearing for goodwill and preliminary expenses for i a series 'of years, as tli'o Council : had' rib tangible' assets against, thorn..

The' Mayor said that it was usual for a! privato company,' but not for a corporation,' to do as Councillor ' Shir'tclifTo. .suggested. Two per cent, was sot aside, and they were keeping up plant out of income. He shewed that the generating cost,'.-was , decreasing rapidly, and it was not at' all great, 'compared with, that of, tho English'.companies,' and considering, the wages paid. J."