The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1909-04-23
The Report of the Aberdeen Water
Light and Power Plant.

The following report of the com
mittee was made 10 the Citv Council
at regular meeting. April 8th. 1903,
and ordered TO be published IN both
city papers:
Aberdeen. Miss. March l9 1903
Mr. J L. Shell, Treas. Aberdeen
Water, Light and Power Plant. CITY
Dear Sir:
In compliance with your request,
have audited the books and accounts
OF the Aberdeen Water. Light & Pow
er Plant, and beg to submit herewith:
Financial statement, trial balance and
approximate statement of stock OF
supplies on hand for the three years
ending Feb, ., 1909, also q statement
Of receipts and expenses for the year
ending Feb, Is, 1909.
IN making this audit, it has been
complete. every item having been
checked, both receipts and disburs-
ments Bank books have been bal
anced and balances agreed with the
banks. Every cent has been account
ed for either By cancelled check or
cash on hand
You viii note mat this statement
shows 4 total Invested of Sll9, loo
~; Of this amount $50, 600 was raised
by the sale Of 80 year ) per cent bonds
while S25, BOG % has been earned by
the Plant, which leaves the Plant an
iude btedness of only -, S5S- s.. This
shows q net profit for the three years
which the Plant has been in opera
ton of PIP per cent OF an average OF
a fraction over per cent per annum.
The net profit for the year ending
Feb. p. 1909 is =, S38. II or ! per cent.
This years work especially, shows
handsome increase in the business OF
the Plant, for although there was a
substantial decrease in the rates,
which meant a reduction in the Plants
revenues of 81, COOS it still shows an
increase in profits over the average OF
the twO'previous ears OF 30 per cent.
These profits You understand are net,
the interest on the 500 100000 bonds
/ for the three ears having been paid
and charged into the expense 8c-
counts At this rate one more year
allowing say s.. OOU. 90 for increase OF
permanent Investment accounts, for
extension of water mains, electric
lines etc, a. the growth of the city
demands, would put the Plant with
Z .t- 8 ~ a
entirely out of debt, after which the
profits of the Plant, over and above
the increase of the permanent invest
ment accounts, each year could be
placed to a sinking fund for the pur-
pose of redeeming said bonds when
due.
While to some this profit may seem
excessive, when everything is consid-
cred it is really "a very reasonable
profit for the Plant to make. In the
first place, it must be borne in mind
that the city is growing all the time,
and the business of the Plant increas-
ing to such an extent that constant
additions to the permanent invest
additions OF course have to be paid for
and the money provided in some way.
So why not the uonsumers, VINO de
rive the benefit from same? Again it
must be borne in mind that the Plant
together with its lines, etc, in order
to give the best service possible must
be maintained at its highest efficiency.
In addition to this the demands for
electric power are increasing so that
it is only q question of a short time
until the plant will have to install
additional machinery, the money for
which must be provided in some way,
which means either that the Plant
has got 10 make a profit to pay for
these additions or the city will have
TO sell additional bonds, which only
means mourning q debt which Will
some day have to be paid either by
the present consumer or the next
generation.
Altogether these statements show
q very healthy conditions of affairs,
and when compared with the work
of other municipal plants throughout
the country is head and shoulders
above them all, the statement is one
which reflects great credit upon the
management and il one which every
citizen should he proud Of
respectfully submitted,
j. a. ROGERS