The Hawaiian gazette., 1911-02-28
RAPID TRANSIT
FOE NEW CHARTER
Continued from Page one. J

Continued from rage One.)
a. How TO meet these conditions and at
the same time pay far dividends and
provide by means of the sinking funds
Contemplated by your franchise for your
reimbursement Of the cost Of the prop
erty, which already approaches the sum
of two million dollars, is d problem
which should be squarely faced. and, If
possible, disposed Of by a practical so
luton.
apparently the annual contributions
necessary for sinking fund or funds OF
this nature will place such burden on
tho earnings that little viii be left for
divid nds and betterments, which, If pos
sibie. should be provided for.
f'Yonr hoard of directors has there
fore decided to apply to the legislature
of Hawaii and the congress of the
United States for an amendment Of its
franchise. extending its period to the
year 1850"
Increased Earnings.
General Manager Ballentyne's report,
in part, follows:
The earnings were $453, $685., an
increase of $40,s27.50 over 1909. The
operating expenses we're 1921, 114.S0, as
against $e07, s55.93, an increase Of $685.
25S.S7; the ratio of expenses to earn
ings being 50.e2 per cent. as against
50.32 per cent. in 1909. In comparison
with preceding years, our experience
from the operating standpoint has been
very favorable.
fsIt is to be expected that as the
years increase, the pro rata of expense
on account of maintenance and re-
newals win also increase, as deteriora-
ton and wear are constantly becoming
more effective.
Betterments.
'eThe net chargings of the year to
betterments aggregates $1SS, 554.44,
classified as follows:
Power plant .............. .$35, 359.51
Building and fixtures. ...... 13,564.S0
Cars, trucks and motors. ..... 62,5O1.32
Track and roadway. ........ 50,537.57
Overhead trolley structure. 6,27G29
Real estate ................ 1S,5O3.O0
Equipment, tools and supplies 1S,503.00
Office furniture ............ 1888
$lss, 554.44
Specifications were prepared, bids
received, and contract awarded for
the INSTALLATION Oh IOUU mp OIOaS
compound Corliss engine direct connect
ed to 1000 XIV, dc. generator of the
interpole type. This machine, with its
accessories, win be of the most modern
design, and it is expected viii effect a
material saving in our fuel account.
Unless unforeseen obstacles are encoun-
tered, this unit ought to be ready for
service by the end of May next.
IA contract has also been entered
into for the erection of new steam
pipe line of fifteen inches diameter and
all steel construction to replace our
present 12-inch line. This was made
necessary by reason of the installation
Of the new boilers supplying superheat-
ed steam and insufficient capacity of
the old steam line to supply the new
engine.
t'No action was taken towards the
construction of the Pearl Harbor extern
sion, for the reason that it has not been
possible to obtain from the war depart
ment license, satisfactory to the com
pany, to cross the Fort Shafter military
reservation. With this exception, the
right-of-way has been secured and all
the material for this work is on hand.
Car Earnings and Expenses.
''The following table shows the car
earnings and operating expenses in com.
parison with 1909:
L