The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-08-21
company,
Respectfully.
w. r. cox,
C. 7. CALNAN.

In presenting minority report l
wish to go on record as being op-
posed to he c0mpanys proposition.
When the committees cffer was re.
jected, the proper thing was to pass
a water rate ordinance, which would
not have interfered with any bona
tide intention of building the trolley.
In the proposition submitted by the
about the only thing certain
is that the present electric light rates
without reduction will be continued
for nine or ten months after January
), 1909, at which time the rates could
be reduced if the trolley line was not
built This simply amounts to an ex-
tension OF time, without any guaran-
tee of the trolley being built, and
permitting continuance of a lighting
rate that would more than compen-
safe the company for the small reduc-
ton promised in the new water rate.
The impression created by the first
report CT Mr.. nash, the company's au-
dltor, published by the company. was
that they could not stand any reduc.
ton in rates; that no dividend was
paid in 1907, while reports filed with
the committee by Mr.. Marsh. the city
auditor, shows that there was a diyi.
dend in 1907 of ~ per cent. on
$S3, 10000 of stock; the Joint report
of Mr.. Nash and Mr.. Marsh showing
that the sum total paid into the com
pany in capital stock did not exceed
$35,O00.00 which was paid out in pur.
chase price, notes, ETC.; the 1907 divi
dend therefore was a little over s per
cent on the original capitalization.
The joint report of the auditors does
not, in my opinion, give enough in
formation of the situation, for the PEG
pie to vote on intelligently. The com
pany has no desire to hide anything
having rendered their books to us to
get what information we wanted. and
II 1t is insisted that the proposition
be submitted to the people, | favor
the publication of the supplemental
report of our auditor so that in VOTING
for ten-year contract the people may
know what they are doing. While will
ing at all times to submit all matters
to the people | feel In present case the
people have spoken and it is up tc
council to act for the people.
Respectfully submitted,
CHARLES H. TAYLOR.
August 20, 1908.
The majority report was adopted on
aye and nay vote as follows: Ayes
Aldermen Cox, Ludwig, Calnan, Dart
Mann and Robinson; Nay-Aldermen
McGarvey and Taylor
The auditors report is as follows:
Brunswick, July 81, 1908.
To the Sanitation, Light and
Water Committee, City Coun-
Gil, City of Brunswick, Ga.
Gentlemen:-Acting under your in
structions, / spent several days work
ing in connection with Mr.. H. G. A.
Nash, auditor for the Mutual Light
and Water company, and beg to sub
nit the attached statements of that
operations.
We nave uOW dSI0Su Oh IOLdlS IN
every essential way. The Mutual
company had an item of $2,244.40 for
expenses included in their
general expense account; this item
was incurred by the company under
its agreement with the 1907 city coun-
Gil, which do not think can be con
sidered a yearly expense; the com
pany contends, however, a company
Of its character is subject almost at
any time to extraordinary contingent
While my method of treating ac-
counts relating to purchases of mate
rial, etc, differs from the method the
company used, the Mutual company
have literally waived contention on
this point, thereby saving time and
continued audit expenses, as the diff
ference between us is simply one Of
method, and only slightly affects the
net result of the Mutual Light and
Water company's reported operations.
Respectfully submitted,
R. P. MARSH.
Public Accountant.
MUTUAL LIGHT g. WATER CO.,
BRUNSWICK, GA,