The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1914-03-20


hydrants, meters, franchises, good
will etc., as belonged to the COM
pany, for a consideration of 81, $50. 40.
During the latter part of the same
year, not having any further use for
the right to the water coming through
the six inch iron main above referred
to, having sold the water distribution
system to the city. and the city hav-
ing installed municipal system, Mr..
Adams made a settlement with the
Great Northern Railway receiving ST.
500 in cash for surrendering the right
to the use of the water which had
previously supplied the City of Leav-
enworth. That this was valuable as
set OF the company no one will ques-
ton, else the railway company would
not have parted with the $500.
Shortly after taking over the Tum-
water Light & Water Co. Mr.. Adams
organized the Leavenworth Supply Co.,
which company took over the electric
lighting fixtures and supplies, the
plumbing material, supplies, tools, and
repair material, the value OF which
must be estimated, but is approx
mately worth $4,000. Then there is
the value OF the telephone company,
also operated separately from the light
ing plant, the value OF which must be
deducted in order to arrive at the true
value of the lighting system, and de-
termine what its earning value is and
ought to be in justice TO the users in
Leavenworth who must pay its rate.
The earnings from the telephone sys-
tenn is upwards of $500 per month, or
over $4,000 per year, wherefore $10,-
900 is a very reasonable value to put
on that part of the property OF the
Tumwater Light & Water Co. which
goes with the telephone system. We
have no very accurate knowledge OF
the earnings of the Leavenworth Sup
ply Co., but with Its sale of electrical
supplies, plumbing material, heating
plants, and automobile repairing and
housing it may reasonably be supposed
to represent a substantial amount and
must also be deducted in arriving at
the true value of the lighting system.
Now we asserted that the operations of
the entire system is very economical.
To show this is true we have but to
point to the fact that one set of en-
ployees take care of the entire system,
lighting, telephone, plumbing, re-
pairing and bookkeeping, and only
one rent to pay.
The revenue from the lighting sys-
tenn is upwards of $4,000 per year.
One user. the Lambda Lumber
Co., the largest in the town, paid the
company during the year 1918, up
wards OF 5000. The city, the second
largest user, pays over $4,000 per
year. There are fifteen other users
that pay for lights from $240 to $720
per year. There are number OF
small power users, some ten or twelve,
that pay from $50 to 800 per year.
There are two that each pay the COM
pany for power 5000 per year. Ap-
proximately there are $50 users that
pay the company from S1.00 10 $1,000
per month the year round. The en-
tire revenue from the lighting system
is between $4,000 and $4,000.
To the committee appointed by the
council to wait on the president Of the
lighting company and endeavor to have
the rates reduced, that gentleman
stated the value Of the lighting system
to be $4,000. and that the net rev.
enue amounted to less than 4 per cent
on the valuation, convincing the COM
mittee that request for reduction was
unreasonable and unjust.
The Echo does not, however, admit
that s120, 900 is fair valuation of the
lighting plant. From the figures
quoted above we have arrived at the
conclusion that $40, 900 is much nearer
the true valuation. How the additional
100000 got into the valuation we dc
not pretend to know. We have heard
Of fnanciers juggling with figures, and
stockwatering, but cannot determine
on which horn of the mathematical
puzzle to hang the difference of $780,
nm Hon, nnnid the connnanv water