New-York tribune., 1903-04-23
GENERAL ELECTRIC REPORT.


The annual report of the General Electric Com
pany. as signed by c. a. Coffin, president, for the
year ending January 81. 1903, issued yesterday
afternoon. The total sales of electrical apparatus
and supplies for the fiscal year amounted to SS6.
6S5 SOS. orders received amounted to $780,,
944 454, being increase of 1S4 per cent orders
received in the year ended January 81, 1902. The
profits of the company including a profit of $91S,-
649 "a securities sold and after deducting all
eral and miscellaneous expenses and losses for de-
probation, S10277.169 16. After making allow
ance for the purchase of patents. chiefly those of
the Sprague Electric Company. and after stock
issue restoring the percentage of reduction made in
1898 of s1674633 3 and after paying dividends and
interest on debentuIes. there remained surplus at
the close of the fiscal year of S4,4S2701 90.
The report of Eugene Griffin, first vice-president
of the company in charges of sales shows that the
orders received in the year included 10000 horse
power in generators and rotary converters, $4,000
horsepower in railway motors 100000 horsepower in
transformers. 5000 stationary motors and
than $1,000 arc lamps. Among the applications of
electricity to which special attention directed
in the year the substitution of electric for
mechanical drive IN cotton mills. the application
Of electric motors for driving individual machines
in mills, factories and machine shops; the use of
electricity in mining operations for hauage, hoiss.
pumps and drilling: the of motors warships
and merchant steamers. replacing steam and hy
drauc auxiltaries; the utilization of powers
for the generation of electrical energy and the
Of motors for electric automobiles.
The growth of water power enterprise is shown
by the fact that there 221 plants in opera
ton equipped with 42S. 269 horsepower IN General
Electric generators. The report of Z. ". Rice,
third vicepresident, in charge of engineering and
manufacturing, states that many new long distance
transmission plants have been installed using
pressures from 6O0o0 to $4,000 volts and delivering
power at distances from fifty to hundred and
fifty miles. notable instance given that of the
transmission of 5000 horsepower from the falls
Of the Cauvery River ninety miles to the Kolar
gold fields in Mysore India. 1t also states that six
of the eleven 5000 horsepower generators ordered
for the Niagara Falls power plant in op-
Grafton.
The balance sheet shows that in the year 81 962-
39i 20 written off from the patent, franchises
and goodwill account, leaving that credit
ed the books of the company at 100000 In
the fiscal year additions made in lands. build
tngs. machinery, etc. of manufacturing plants at
a total cost of $40 1851 Of. which added to the
previous book value Of the factory plants made il
total book cost Of s14.726 205 -. From this
there has been written off in the last ten years 4
total of S926202 - leaving the present book value
of the plants at 100000 Securities owned by the
company of par value of g $50 rs 22 were sold in
the year for $3.50 9Ss "a had carried on th
books al a valuation of $2.7e'$%9, that q profit
realized Of E973S49 a.
The consolidated balance sheet shows that the
company had hand January 81 as assets cash,
S. 300 II: stocks patents, estate other than
factory plants, notes and accounts receivable and
work progress. $2 500 73i Il; merchandise inven-
tories 562l6 y: factory plants $500 900 and pa
tents. franchises and goodwill. $2C00cO0. making a
total OF $40 Se3 03 Against these assets are liza bill
tiles of capital stock. $4lS So per cent gold
coupon debentEres. $4,000: BIZ per cent gold coupon
debentures. $2.ol9,41o accrued interest debent-
ures S25; accounts payable. S$7S $500 40 !ained
dividends 81 SS6 %; surplus. S44S2 7o1 90 making
total above of $49,S93.507 o.
Detailed earnings follow:
Profits SO
Less interest On deonnt'ireS. 4+S2l Il
SO 222 So 30
Further deductiors from patent
expenditures incurred chiefly acquiring
the patents Of the Spraeue Electric Com
pany 16f3s7a 81
Ss61s9 ass Il
The amount II surplus the end Of
fiscal l52S714O Gj
S23 906 0aS 81
Paid in dividends IN the 267T 263 ~
S21 22S s35 r.
Stock issued restoring percentage of rA-
made 1898 ............ 1913
Surplus January 81 1867. 81 49, 70l ~