Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-02-25

from its sworn statement to the city
treasurer. There 1t shows:
Real estate and improvements. s16s, 6sO
PERSONAL property ................. efa'eVV
This eliminates the two franchises
land shows a total of. .......... 1lo,oSo
Double this assessed value gives. 1,426,7SO
ITO this should be added the cost of
new construction put in since the first
Monday in March, 1907.
No Itemlzed Inventory
II would point out that this COM
pany, like the Pacific Telephone and
Telegraph company, has neglected to
file the statement of assets as required
by the ordinance, giving an itemized
inventory showing all works, poles,
lines, conduits, plant and all other
property, real and personal, owned or
used by such corporation, said state
ment to set forth separately all of said
property in the city of Los Angeles, in
the county of Los Angeles outside the
city, in the state of California, show
ing the actual cost and the present
value of each item thereon.
I'm conclusion, would state that the
telephone company is entitled to rates
that will be sufficient to take proper
care of all legitimate and reasonable
expenses of operation and maintenance
and also to allow a proper sum to be
set aside for such depreciation as is not
covered by maintenance charges, and
also reasonable percentage of profit
on invested capitalize amount to be
fixed by the council as the telephone
rates depend upon the actual cash IN
vested by the company, the percentage
of profit which the council allows on
this investment and the sum to be set
aside for requirements which the coun-
ell may consider just"
Favors a Commission
Auditor Mushet's' report paved the
wav for a number of queries by Coun-
Gilman A. J. Wallace, who SAID also
that he for one would urge that some
commission be named, say for next
years work, which would IN IleasuLe
take the responsibility off the Shout
ders of the councilman who were not
qualified as experts to handle the util-
itv situation in a manner fair to poth
sides.
This will be fair to capital which
EMPLOYS labor, to the public which uses
the telephones and to the companies
which have their funds invested" said
Wallace. -,
President Pease also urged that capl-
tai should have some consideration.
Secretary Torrance said that New
York. Chicago and st. Louis pay much
higher than Los Angeles for rates on
their telephones.
Deputy City Attorney works called
attention to the fact that climatic con-
ditions here were different; there were
no billiards., SHOWS and winds to con-
tend against. -.
Secretary Torrance said that as
cables were used now storms did not
constitute the principal item of replace
ments of the service.
Prefers Home Talent
Judge Gooding said he saw no reason
WHY the council of Los Angeles need
90 for wisdom to Chicago or st. Louis
cities where, according to the public
prints. the lawmakers did not hesitate
TO Weld to corporation influences under
peculiar circumstances.
Councilman Clampitt said he would
vote against raising the rates because
neither he nor any other councilman
would hold his seat long II he VotSo
otherwise.
Councilmen Healy, Lyon and Yonk.n
were also prepared to vote to maintain
the existing rates.
Councilman Dromgold said he pre-
ferred to hold his vote another day,
but he remarked that If the Home COM
pany's officials had made clear-cut
inventory, as the ordinance demanded,
the present hitch would not have oc-
CURED.