Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-10-10


coal 43 per cent. and steam coal 232 per
cent, or in round figures the coal and
oil used now cost us, under present con-
tracts, S05,75O more than they would
have cost In 1910 and 1911. when the
net price Of gas was reduced.
These three materials comprise So per
cent. Of our manufacturing cost The
present market price Of oil which a1one.
comprises Al per cent. Of our total
manufacturing cost. shows a percentage
OF increase over the figures named
above Of 800 per cent. The present In
creased cost OF these three principal |
gas-making materials based on our re.
quirements over the prices paid on con- |
tracts during the year 1915 and part OF
1917 up to the present time, are as
follows:
Anthracite coal ............. S0.75OOo
steam coal ........4........ 100000 /
vi ''''''.'''s.s.s'..'',s...s $4,000
80 49,. .'..... .S4I ,5OOOD 7
In addition to the above Increases we /
nave advanced our labor as follows:
p,.., .. Per CT.
Plant flremen and other labor. AZ
street labor ..................7
Sh0p labor ..................... 2J TO 20 !
Oulce labor ...................3 30
You can perhaps get some idea OF
what the average would amount to on
our payroll when we expended for the
WE'VE months ending September 1.
1911, si5O,9i692, including all classes.
Other Increases in the cost OF ma
terials required In the operation Of our
business are as follows: Pet
Printing and stationery ............ q,
Cast iron pipe for mains. .......... 200
cast IRON fittings. ................4.. 1913
otttl pipe s....... .....s.s...t..a... 200
Fittings lmalleable) ................ i25
Brass goods Observation-Disclosures. u
There are in addition items too nu-
merOus TO mention which have greatly
Increased In cost. and while not as i'm
portant In the aggregate, they amount to
considerable in our operating expenses.
Following Is a statement OF earnings
for our fiscal years ending September
/ 4. 1916 and 1917:
Interest charges Il
1916. 1917.
Gross income. -. .S5Ol, 1884 s55s.O77.5O
Operating expense 2i2,OOi.2i 3i2,isi33
Net earnings ...S262, 7i7.73 246,s93.i7
Interest oh argos
on bonds and
preferred stock. i9i,5i7.Ts 202, 1858
s6s,229.95 s4i.ss6.si
For the fiscal year ending September
II, 1917, our surplus earnings after pay
ing operating expenses, bond interest
preferred stock dividends, amounted q
lsii,696.ssi.
With the increased cost OF labor,
coal oil and other incidental items,
our expenditures for the next fiscal
year ending September /, 1918, will
greatly exceed our possible receipts
on our present charges and our opera
tons. will. therefore, necessarily show
large deficit. This deficit as you
know must be provided for and we
have felt that the service charge that
we have instituted is the fairest TO
all concerned.
Wilmington has grown rapidly and
demands are made on us daily re-
Questing new services and main ex-
tensions in various parts OF the city.
Our policy covering this work has
always been a very liberal one and
we have In the past made no charge
for services or mains unless an eX-
cesssive amount has been required. II
. the credit OF this company Is impair
ed by the lack OF sufficient earnings
> 20 meet the bond and preferred stock
2 dividends as required by our mortgage
: as we'll as a sufficient surplus 10 care
, for extraordinary expenses we will
be compelled 10 stop at once the run
ming OF free services, mains and
meter installations.
Our mortgage further states that
: securities can be issued only for 81
7 per cent. of the total cost Of any new
I construction, improvements or mains
p services and meter installations
q showing that 10 per cent. OF the cos
{ OF this work must come out OF oul
. surplus earnings, so that II we have
= no surplus upon which to draw from
o We would Immediately be forced Il
n dispense with any improvements Of
= extensions that might be needed an(
l. only install main extensions, services
: and meter installations when paid foi
4 by the consumer.
= This company has also always main
tanned a very liberal policy with ref
/. ernoe to the maintenance OF our con
s sumers' equipment, In that we have al
4 ways endeavored TO render prompt an
n efficient service OF all work necessar,
4 for the comfort Of our customers, a.
n OF which we would have 20 dispens
r with II we cannot get this additions
4 revenue.
n No commodity OF any consequenc
! has been voluntarily reduced in prio
as has gas per thousand cubic feet dur
y ing the last 80 years. as shown by IN
y following statement.
= october G, is6l-s35O per NJ cubI
: feet
!, July 4, ises-s3OO per NJ cubic. fee
- July. is72-s27O per NJ cubic feet.
= January, is76-S2.50 per NJ cubic fee
January, is79-s2.0O per NJ cubic fee
q April, iSsi-Sis0 per NJ cubic fee
- January, iss2-Si.50 per NJ cubic fee
!. January, issT-si.35 per NJ cubic fee
II October, isss-Si.25 per NJ cubic fee
! October, is9i-sii2 10 per NJ cub
e feet.
/ January, is97-si00 per NJ cubic fee
le January, i9i0-9sc per NJ cubic fee
l. January, i9ii-95c per NJ cubic fee
Is In addition 10 the increased cost
i, raw materials, IL has required betwee
$4,000 and $4,000 working capital Il
At the purchasing Of additional stock
lie various materials which we use as
re safeguard due to the difficulty in oil
tanning materials and delay. In transi
D. caused by these unusual war cOnd
= tions. The outlay OF this addition
d NnN al e.