The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1903-04-03

the taxes formerly paid by the cor
poration, which amounts to sl2.ls
per lamp-yeaF, making the true
cost $50. 81 per lamp-year with the
municipal plant. as against s75 per
iamp-year under the contract, the
burning hours being practically the
Same.
1t has been noted that the local
conditions In Worcester are differ
ent In some respects from those ex-
listing In many citias of the state
where municipal plants have been
established.
COST or OPERATION UNDER sMusI.
C1PAL OWNERSHIP.
The legal requirements fer inter
est, sinking fu nds and depreciation
aggregate II per cent ofthIs amount,
or slhl 300 per year. as the minimum
of fixed charges which must be
earned under municipal ownership.
AS the city can work it's raen only
eight hours per day, and the com
pAgy calls ten bours a days work,
1t would therefore, be necessary 70
add al least 20 per cent to the pres
ent payroll Of the company.
The city certainly esp not.
under these conditions, operate the
plant more eheaply than tie eorpor-
alton has BEEN able 10 do.
The running expenses ofthe com
pany under its present management
are, Ghaa, "a very conservative basis
fog estimate We End that the run
ming expenses If the CoHlpauy last
years exclusive Of dividends and
depreciation. ~itb no interest fo
pay, we're tn round numbers si24,-
600. to which should be added tie
si5l, nsl required for sinAing funds,
in;syrst and legal depreciation,
making total 81 ST., 80 which 1t
will coat TO operate the plant under
municipal control.
The total business OF the company
last year. including ths amount
paid 1t by all the city departments,
amounted 10 Ezs0 600 oaly. showing
thai the eAtiFe business OF the com
pany was ~. 900 lees last year than
the amonns needed IL operats the
plant and pay the legal charges
upon II under municipal control.
MUNICIPAL owSE1sHir WOULD
RAISE COST Pgs LAMP FRoA
sl09..B TO slGs.
II, following It's asua al CO Ktom, the
state board charges the deficit in
commercial operation 90 tts cost of
she street lighting service, In the
event of the elty's acquiring this
plant, will be Increased from
s7gssse to sis, Geo per year for the
electric lights alone; the cost of the
arcs will adv anee from 500 % TO
slsS per lamp year aad from Is
cents to 40 cents per lamp per
hour
No reference 10 made in the fore
going calculation 10 the taxes now
Epaid by the company into the city
treasury, adding not less than
o. .0sD pee wear 10 the defielt already
noted.
GAS LIaHTIS0 WOULD aE AYFECTEp
IN rBR SANE WAY.
| YonY COMMITTEES believes that abe
same conditions aud reasoning
apply with eqaal force to the prop
eriy and business of the gAa light
company.
The company capitalized nc 900. :
600 and has assets, according to It's
last report. of SIS, 200. Its stock 10
worth not less than S225 per share
on the market, thus making it's pro-
perty too valuable for as TO acquire
under the statute.
MUNICIPAL OWNERSHIP NoT ExFE.
DIEST.
AS the result of the foregoing in
vestigation, your committee recon-
mends that 1t Is not expedient for
the city of Worcester to exercise the
authority conferred Ia Chapter $40
Of the Acts of 1891 and acts in
amendment thereto, in the mater
of acquiring q municipal electric
light plant. Municipal Engineer
ing.