Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-11-19
WATER co. ASKS
RATE INCREASE
TO MEET TAXES
Boost Sought From 3 to ~
Cents Per Month, Accord
ing to Petition.
PLANS TO SPEND 100000

IN q petition for increased rates hied
TODAY with the Public Service Commis-
sion. the indianapolis Water Company
declared that the high city, county and
state taxes have practically absorbed the
grant made by the commission year
ago. -.
The company sets forth that the rate
granted on Dec. 81, 1919, increased the
revenue TO 4 figure between S123,0oO and
s1sO.COO. but that taxes increased during
the same period from s15s,000 to S244,OOo
and that as a consequence approximate
" $4,000 Of the higher rate went TO pay
the new taxes.
The petition declares that the water
company is planning extensions and I'M
provements during the next year that
viii total 100000 and that it VIII be
necessary to issue. bonds TO make this
program possible The company asks
the commission to set a rate that VIII
bring a fair return on its investment ana
one that viii enable it to undertake the
extensions at once.
WILL Run FROM To
go CENTS PER MONTH.
The schedule Of rates and tolls attached
to the petition show that the amount
believed necessary by the company would
involve an increase Of from 8 to 20 cents
a month to the consumers, according to
the size Of their installations.
The company, in the petition, specifies
that during 1920 It has been subject TO
increases in labor costs and also in costs
Of all materials used. and that petitioners g
operating costs have been greatly in
creased during the year by reason OF
hfnh In
creased approximately from s15SO0o in
1910 TO S244, 900 in 1920. In other words,
approximately sS6, 600 Of the s125,o00 re-
lief granted under the order Of Dec 81.
1919. was absorbed during the year In
added taxes; that the total increases IN
costs have practically wiped out all OF
the relief given Ia said order
Continuing It sets forth that the com
pany in the last year has expended
approximately 1920. 600 for extensions and
betterments to its property; that SAID
expenditure was financed in part through
the issuance Of S2gj,OO OF per cent
preferred stock, which stock was sold
at q discount, and petitioEer says that
in view Of its present investment in the
property and the increased cost Of opera
ton, with taxes as above recited, peti-
toner's net earnings are no more favor
able TO the company thah they were As
Of Nov. I. 1913.
Petitioner further says that the re-
quirements Of the city OF Indianapolis
for water main extensions for the year
1921 viii be in excess OF $4,000; that
it IS necessary for petitioner to begin
Immediately the construction Of stor-
age reservoir OF ten million gallons. ca
pacity to supplement petitioners pump
ing capacity, to care for said city OF
indianapolis during the summer season
ana that said reservoir will cost ap-
>prozfmately s2s5, 900: that additional
wells. bridges across the canal, new
lahles in sedimentation basin. meters
and other necessary extensions TO the
property. will bring a total expenditure
Tor extensions a9I improvements during
1921 20 SCO0, go: that al Of said exten-
sions and betterments are absolutely
Continued on Page Fifteen)