The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-11-12

| plant, Is the significance Of the condi-
| tons alleged. Does 1t signify the failure
| of municipal ownership? The cases are
not parallel, Municipal ownership OF an
electric lighting plant is opposed on the
ground that its effect would be to drive
away the Goulds and their Investments,
which Will bring benefits more than the
city could possibly gain from an electric
plant. II Is different with the gas works,
and many men now nghting the eleelrlc
light movement would oppose the sale OF
the gas plant. The city, has n monopoly
here and would estrange no business m
terests by continued operation. IT IS SIM
ply a question, say these, OF newer
broader, more liberal system, under Whlch
the works could be developed. TheS are
already paying handsomely, and Win
proper care they could be made to pay
much more, and at the same time TO
serve the people to their satisfaction,
which is far from being the case now.
In 1904. just before the term Oh MT.
Knowles began. the net receipts or me
works for n year was s2O,0376o, and the
total receipts including the gas used ny
the city, s53,3Ss.S0 In 1904 these figures
were s1l6. 1850 and sl42,2s6.S9, respectively.
In 1897 Mr. II. Il. Boudar, expert ac-
countant, prepared a statement showing
tho profits Of the works up to January
/, 1897. This statement has been supple
,nen,cd by n table showing the profits
for each year since that time. Tho fig
ures are official. The summary, which
gives n thorough view of the business
and of the gas works situation follows:
During the period of thirty years,
beginning 1867 and ending 1885, the
Eas works OF the city paid into the
city treasury the sum of N174,s55.29
over and above the amount drawn
out for, cost OF running the WORKS ana
producing the gas
''This amount exceeds the total of
the construction and extension ac-
counts for thirty. years by S527,2S3.51,
and, deducting tho cost OF the plant,
etc. previous to 1867, say sS9137 7.26,
the works, besides paying back to the
city Its entire outlay for grounds.
buildings, plant, pipe md nll other APP
purtenances, has n surplus to it's credit
Of $135, 9OG.31. This surplus must be
st..l further increased by difference
between the value of gas furnished the
city for public consumption. and the
interest allowed the city on the cost OF
the works. etc. say s35S,07423, making
total surplus OF $4e3,aSO.54. after re-
paying the city for It's investment
Actual Results.-The city owns Its
gas works, with entire outfit without
cost, and has received bonus OF
$49S, 9aD.54.
&
statement was at the rate Of six per
cent. per annum to 1891 and at four
per cent. thereafter, and interest was
allowed during the entire time on
actual cost, without deduction which
the works were clearly entitled to for
its annual repayments on investments.
The net revenue UP to 1856 more than
reimbursed the city for ITS entlros
outlay; therefore, proper calculation
Of interest would more than double
the surplus Of $493,9So54
Summary sho wing net results to the
city Of Richmond from the gas works
{ from the year 1867 to 1896 inclusivc:
Receipts nDm gas biNs,
sales, etc................ s5,272. anG SO
Expenditures
Z Expenses 80: :. 81, ITO, 243 80
Pay roll ...... 1,56o.,2s3 y
Coal .....,... 1,S0S, Jas 0S
OIL ............I n7,319 OF
2 t---------- 4,09S. o515 90
Excess Of receipts over
disbursements .....!! sl174,s55 %
Public consumption. 81, sol ,913 90
Less interest on cost
y of works. = etc -. l43 $40 10