The daily palladium. [volume] (Richmond, Ind.) 1904-1905, 1904-08-02

year ending June 1st, 1904:
One years interest on SIG,
| 777.31 at per cent. IS OIL %
per cent. depreciation. s S3S Sc
Expenses of maintenance
and operating plantfor
the years as per report
of commissioners. .... 25 655 &c
Salaries of Commrs & Clerk $50 90
Total Expenses .......... 81 4l5 6I
The total receipts for the
year as per cOmmrs. re-
port .$32 551 AZ
Expenses for year in ex-
cess Of receipts ......$ 9 S5S 10
To offset this apparent loss it is
only fair to take into considera ton
the amount saved to the city and its
citizens by reason of the lowering of
the schedule from the rates prevailing
before the city plant began operations
We pay the l.. H. & P. Co. $4,000
year per light for street lighting,
while the Sc lights furnishe dby the
city plant during last year cost $75
each; being a saving of ST 300 to the
city. During the year the city plant
furnished to the citizens BIS, 1874 X.
W. at a price averaging at least 5 cts.
per X. w. less than electric light
could be obtained for the Light, Heat
& Power Company before the city
began to operate its plant. This
amounted to a saving of at least $1S,-
919.7O to the consumers during the
year.
Another saving which is also emit
tied to consideration as a saving by
the city plant is the enforced saving
by competition on commercial light
and power furnished by the L., H. &
P. Co., which before the Inaugural
ton of the city plant charged from 5
cents to cents per K. w. more than
it has charged during the last year.
Assuming that the L., H. & P. Co.,
does one-third the commercial bust
ness that the city plant does, there is
an additional saving to the consumers
of $6,3O65O.
Total saving as follows:
Saved on Sc street lights. 81 200 90
Saved on 37S,394 K. w.
furnished by city plant. Is 919 20
Saved on light furnished by
L., H. & p. Co. ........ 6 3O6 so
Total saving 1926 516 70
That is to say, if the same light
that has been furnished to the city
and citizens during the last year had
been furnished and used under the
rates prevailing before the city plant
went into operation. we would have
paid therefore $26,516.20 more than
we did pay. We have made this cal
uclation on basis of light being only
5 cents per K w. cheaper than under
the old schedule, when in fact it is
some 7 1-2 cents cheaper. The esti-
mated saving at 5 cents is conserva-
tive. At 7 - cents cheaper the saw
ing would be $39,777.3O.
This saving as against the apparent
loss of $9,S5S.19 on operating expen-
ses &C., really shows a net saving to
the citizens of Richmond Of $16, 66S. OF
during the year, or on the basis of
light being - cents cheaper per K
w, the net saving would be 500 ,92O.21
The showing made by the city plant
during the last year is not fair test
of what may be done. On Sept. LIST the
contract with the L., H. & P. Com
pany for street lighting the streets al
$4,000 a year per light expires, and
the city plant will then furnish all
street lights, and the $4,000 or 49,
900. now paid yearly to the L., H. &
P. Co., will pass to the credit of the
city plant. An amount large enough
to about cover the interest and depre.
citation account.
The cost of the plant to June list
1904, was $192,O12.70. The additional
costs including the 1876 lights to take
the place of the lights of the L., III. &
P. Co., will be from $4,000 to $12,
900, making the entire cost of the
plant in round numbers $202, 900 tt
$204,00O. This will be the amount
on which interest and depreciation
) will be calculated next year. With
the amount now paid to the L., H. &
P. Co., and the additional income
from Commercial business, we should