The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1909-04-16
Tie Report of the Aberdeen Water,
Light and Power Plant.


mittee was made TO the Git Council
at regular meeting. April sth, 1909
and ordered TO be published in bott
city papers:
Aberdeen. Miss, March 10, 1909
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 A berdeen Water, Light & Pow
er Plant, and beg To- submit herewith
Financial statement. trial balance and
/ approximate statement of stock of
supplies on hand tor the three years
ending Feb IS 1909, also a statement
of receipts and expenses for the year
ending Feb. y. 1909.
+ In making this audit. il has been
+ complete. every item having been
+ checked, both receipts and disburs-
ments Bank hooks have been bal
snced and balances agreed with the
banks. Every cent has been account
I'd for either ny cancelled check OF
cash on hand
You will note that this statement
shows total invested of Sll9, 1866
Il; OF this amount $50. 900. vas raised
by the sale Of 30 years per cent bonds
while S25. BOO 81 has been earned by
;ne Pl@nt, which leaves the Plant an
indie btedne-s OF only 3,s5s p This
shows net profit for the three years
which the Plant has been in opera
ton OF q per cent or an average OF
4 fraction over per cent per znnnm.
The net profit tor the wear ending
Feb, IS. 1909 IS 50. S35. Il OF 5. / per cent.
This years work especially, shows
handsome increase in the business OF
the Plant, for although there was
substantial decrease in the rates,
which meant a reduction III he Plants
revenues of ~, 900. 90 it still shows an
increase in profits over the average of
the two previous years of l. IS per cent.
These profits YOU understand ars net,
the interest on the $50, 900. 90 bonds
for the three years having been paid
and charged into the expense &C
counts. At this rate one more year
allowing say s., 600. 90 for increase OF
permanent Investment accounts, for
extension of water mains, electric
lines etc, as the growth of the city
demands, would put the Plant with
the exception of the $50, 900. 90 bonds
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 u sinking fund for the pur-
pose of redeemiug said bonds when
due.
White To some this profit MAY seem
excessive. when every thing j. cousid- +
cred il is really "A very reasonable F
profit tor tine Plant to make. In The /
first place, ii must he borne in mind +.
thar the city is growing all the time, /
and the business OF the Plant ncreds- +
ing to sucA an extent that constant /
addition. tu the permanent invest +
ueut accounts must he, made These /
additions ot course have r. bt paid Tor .
and ihe money provided ia some way. /
50 ~ 3 met th- CONSUMERS, VINO de- 1
rive the benefit from .amr? Again il /
must be borne in mind that the Plant +
together with IL lines, etc in order
[ give the best service possible must I
be maintained atits highest efficiency. I
In addition tu this }I,e demands for /
electric power are increasing 50 that I
it is only question of short time /
until the plant Will have 70 install /
additional machinery, the money for /
which must be provided in some way, /
which means either that the Plant I
mas got to make profit 20 pay for /
these additions or the city viii have /
Us, Il additional bonds, Nhich only /
IN ans iucurring debt which will /
; me DAY n-ve TO be paid either by +
t1e pieseAt consumer or The next
Altogether these statements show /
a very healthy conditions If affairs, |
and when compared With the work /
ot other municipal plants throughout |
the country l. head and shoulders /
above them al, the statement is one /
which reflects great credit upon the |
management aud is one which every /
citizen should be proud of
Respectfully submitted,
j. A. ROGERS