THE ELECTRICAL DEPARTMENT

Thames Star, Volume LII, Issue 13819, 8 October 1918, Page 2

THE ELECTRICAL DEPARTMENT

The raitepayea 1® of Thames Borough may justly be pro-ud .of tihe Eleo-trio-iil Depnialiment. It is a trading concern which evon now is showingl a.,aubston.tiai pa-ofit, and as the business extiends . it may be . expected to yield evein greater jpturas. Thei i*evenue aocoiuut shows the receipts, for the year ended March 31 to be £3398 Os 3d, while the eKpeipdiikire amounted to £2213 Us Bd. The profit thus shown, is £1184 5s 7d. Sine© Maa-chi there have been, laigie. additions of siibscuribem.' and also a lessained experisiei in runniing. so tha,t the* nest balance sheet may be expected to show a still further profit. What has been done with the profit is shown in another account which deals with interest and sinking fund. The total interest paid, including that upon ..overdraft, was &1176 7s, while tho sinkingl fund paid was .£.209, total .£.1385 "7s. It wdll thus be seen ihat the profit of £1184 5s 7d (to which has to be added. £6 for th« rent of Sealeiy St. 'I ! property)' was barely siiffioient to meet the'lnterensb avd sinking fund. But that is a position, that will ianpi'ove year by year The outstanding feature is' a .profit upon^voi-'kinar accoiunt of a. v.cry substantial sum, almost sufficient even <now to pay . tlio' loua and sinking hwd charges.. The sinking fund low mvested with I the Public Thistee Mnoniint« to ! £897 10is lid. Tihe Louncil has gone in for a, drastic policy of writing i down the value of \h& plant, which 1 ! i s a safe course to pursue. But it may be aswuned that, dxiaing the war-at least, some off Ma propeti'ty has appreciated' in. value. If the Council wished tt> purchflse its hydro-electrical plant, nmr it would feive to pay considerably morel toa* j it tihan at cost origlinailly.