The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-02-27
HAD
PROSPEROUS /.
YEAR
Report Of Manager Submitted at
Annual Meeting Shows That
Hawaiian Electric Did Big Bust
ness Despite Substantial Reduc-
ton in Its Rates. &" ......
(FrOm Thurrday Advertiser).

(fTOm Ihurtday Adversely. ~.
The annual meeting of the directors
and stockholders of the Hawaiian Flee
trio Company was held yesterday at the
offices Of the company on King street.
The report Of General Manager Frank
q. Blake, showed that the corporation
had enjoyed a year of prosperity and
that during the past year the volume
Of business was in excess of that Of the
year 1912, Notwithstanding sharp re.
duetions had been made in prices
charged in the several lines Of electric
service given.
The officers elected for the coming
year are; X. A. Cooke, president; +.
W. Maefarlane, vice president; Il. &.
Atherton, treasurer; 9. II. Cooke, seere-
tary. The directors include the above
and G. II. Atherton, Richard Ivers and
ii. M. Won Holt. .,..r-s
The report Of General Manager Blake
Is as follows: e.., = ..s.-sea
To the president, board Of directors and
stockholders Of the Hawaiian Elec.
trie Company, Limited.
Gentlemen:--I herewith submit the
annual statement Of the business of
this company for the year 1918.
< Total income from Gll sources
amounts TO $Sl7,354.63.
Total expenditures, S612 ,s47.70.
Leaving a gross profit Of $204, 506.g
Our losses from doubtful and bad
accounts for the year amounted TO
S4,554.l3.
Losses from, ra.,.aluad saenrIt;.. kola
by the company, $2S,l4S.2s.
Leaving net profit Of $l7l, 96s. 35.
~ OF which the profit from light aud
power amounted to $ll7 ,394.64.
Profits from all other departments,
ss7, ll2.29.
A dividend Of ten per cent was paid,
amounting to 100000.
Leaving a balance of 600, 96S.35 car.
ried to, loss and gain account.
On May a substantial reduetion
from Is cents TO 12la cents per kflo-
watt hour was made in the price Of cur
rent for lighting purposes.
The minimum meter charge of $500
per month was reduced to 800 per
month.
The minimum charge for power Of
$l.00 per horsepower per month was re-
dueed to 30 cents per horsepower per
month. $50
Five per cent discount was allowed
on all bills for light and power IL paid
on or before the 18th day Of the sue
ceeding month.
While the new schedule of rates has
been greatly appreciated by the public,
our total revenue from light and power
for 1913 is in excess Of our business
for 1912 owing to the large increase
Of customers during the year.
Total receipts from light and power
for the year 1918, 1851, 096.S5.
For. the year 1912, $685., 1892
Average monthly receipts, 1913, 500,
25S.07. Average monthly receipts for
1912, $2s,0s325. r5lS
Total consumers, Dec. 81, 1919, 1891.
Total consumers, Dec. 81, 1912, 4795.
Gain for 1913, 1895.
Total connected II. r. in motors Dee.
81, 1918, 344l. For 1919, posi-.
Gain in connected II, p. in motors in
$40, 1884. 40
Total number of lights connected to
our service Dec. 81, 1918, 81, 507; show.
ing an increase for 1913 Of 1891,
The gains in consumers, lights and
connected horsepower for the year are
the largest in the history of the com
pany. SOC. ..-E1
... 49," j. Ice.
The ice business for the year has
been most satisfactory. ID.
Total number o. tons manufactured
during 1913, 1850. -..ts
Total number of tons manufactured
during 1919, 1928.
Total gain, 1918, 1881 tons.
Total number of customers gained,
1918, 425.
. @| improvements.
During the year extensive improve
ments have been made in our various
plants, $l49,s7l,35 having been expend
cd in this work.
We have installed a 2500 X. v. A.
turbo-generator having capacity of
$1,000 lights, thereby increasing the
capacity of the electric plant over 100
per cent.
The cold storage building has been
remodeled and rebuilt, and, while the
third floor is not completed, we have
the first two floors in operation aud.
from present indications, believe that
this can be made one of the profitable
departments of our business. The re.
port Of the auditor will follow.
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