The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1907-08-01
OSKALOOSA & BUXTON
Interurban Accounts Are o. K. Says
Auditing Committee.


At the stockholders meeting Of the
Oskaloosa & Buxton Electric Railway
CO., held on June 4, committee was
appointed to audit the accounts Of the
company. The committee has submit
ted its report and 1t makes a splendid
showing for all concerned. The full
text of the report is as follows:
Oskaloosa, Iowa, July 10, 1907.
To the Stockholders of the Oskaloosa
and Buxton Electric Ry. Co.
Gentlemen: The undersigned COM
mittee, appointed to audit the books
and accounts of Geo. A. Kalbach, the
Treasurer, and to examine the trans
actions of the Board of Directors, so.
far as they relate TO the receipts and
expenditures Of the funds of the COM
pany, submit the following report:
We find that the total amount of
subscription to the stock of the com
pany, was, in round numbers, $685.
10000, for which there has been call
for four different assessments of 20
per cent each.
Ofthe amount so called for and now
due, there is only about five per cent
unpaid. To ascertain the total receipts
from stock subscription, we have TAX
en- the receipt books in which dupll-
cate OF each receipt issued was kept,
and checked up the total amount there
recorded. To prove the correctness OF
the figures thus obtained, we have Ia
ken the ledger, in which an account
with each individual subscriber was
kept, and the various payments re-
corded, and compared the amount OIL
these entries with the amount the re-
ceipt books show. The results in both
cases agree and we find the total
amount paid on stock subscription To-
June LIST, 1907, to be $100,O45.26.
The amount received from the coun-
ty treasurer from the tax levy was
$39,074.sE
The sum borrowed at various banks
at different times was $24,OOO.0O.
There was received as interest on
the funds of the company, while dep
osited in the banks, $542.62.
Certain tools and materials which
were purchased by the Oskaloosa q
Buxton Ry Co. were afterwards turn
ed over to the Oskaloosa Traction and
Light Co, and paid for by them in the
sum of $4,579.34
For sundry small items there was
received $6S.30.
We find, therefore, the total amount
received was $16S, 310.09.
The expenditures were all authoriz-
ed by proper vouchers which were
signed by at least two members of the
auditing committee from the direc-
tory. We have gone over all of these |
vouchers in detail, about four hundred
and fifty of them, and checked them
with the entries in the treasurers
books. We find the amounts paid out
by the treasurer are as follows:
For general expense and construc
ton account, including the sum paid
for The Oskaloosa Traction & Light
Co. plant, $149, 1880.
OF the sum borrowed from the Os-
kaloosa banks there has been paid
back, S1S,500.00.
For interest on borrowed money |
there was paid $77.S2.
In the hands of the county sheriff, |
for account of damage suit, there is |
$1,000.
We examined the bank books of the |
banks in which the funds of the COM |
pany We're deposited, and find the |
bank balances, June LIST, to be $213.77, |
which sum, added to the amounts that |
are above shown as paid out by the |
treasurer under proper authority, bal
ances with the amount received by
him. We find the books of the treas
urer correctly and carefully kept, and
all sums passing into his hands have
been strictly accounted for,
The bills which are attached to the
vouchers, show evidence of having
been carefully checked and the details
OF all matters have been given care
full attention. The officers, as well as
the other directors, have given no
small amount of time and attention
TO the affairs of your company, and at
no time has there been any recon-
pense for such services.
Respectfully submitted,
c. NJ. PORTER,
ELMER J. NORRIS,
r. X. DAVIS.