Every evening, Wilmington daily commercial., 1920-10-23


had been established by he Postmaster
general during the period Of government
| possession and control of tho property
and system Of your petitioner, and a'i-
| thoritv 20 continue such schedule of rates
| and charges in effect until such time as
| your petitioner could determine more def
| initely the effect upon its operations of the
| high cost Of material and labor, and there
| by be enabled To prepare and present TO
your commission such new ana reNiseo
| schedule of rates and charges as would
produce q reasonable and adequate re-
| turn.
Fif,h-That on the ninth day Of Feb
! rIary, 1920, this commission duly or
| dered. sSThat the Diamond State Iele-
phone Co. continue the present rate for
|, telephone service in the city of Winning
ton until December !, 1920, unless IN the
| Judgment of this commission the old rate
should be restored at an earlier date WITH
| out detriment to the service or the public.
Sixth-That the net earnings OF your
petitioner for tn past 81 years, com,
mencing January | 1914, have averaged
| less than three PER cent on the actual
cash cost of the said property OF your
petitioner. and that the net earnings tor
the wear 1920, under the existing schedule
of rates, viii be approximately SdZ,ouo
available for interest and dividends, which
will be approximately "a per cent on the
said actual cash cost of said property.
Seventh. That your petitioner has re-
Gently had an inventory and appraisal
made of its said property, which shows
fair present value of more than fifty per
| cent in excess of the figures at which said
property is carried ON the books OF your
petitioner.
Fighth.-That the facts hereinbefore
set forth will moro fully appear on the
balance sheet of your petitioner as OF
August 81, 1920, copy OF which Us
herewith filed, marked exhibit A; and
from n statement of the revenues and ex-
penscs of YOUR petitioner for the years
1914 TO 1919, inclusive, herewith filed,
marked exhibit b; and from n statement
of the revenues and expenses for the
first eight months of the year 1920,
herewith filed, marked exhibit G; and from
the said appraisal which will be submitted
in evidence at the hearings and all re-
cords and data available made to your
commission.
Ninth.-That such low rate OF earn
inps as hereinbefore set forth constitutes
a serious menace to the credit OF your
petitioner and if futher continued VIII
prevent your petitioner from securing
new capital for the acquisition OF material
and equipment necessary to enable your
petitioner to provide the adequate, COM
prehcnsive and extending telephone ser
wee which the needs of the people of
Delaware require.
Tentb-That. TO meet the present
exirencv and improve its financial status,
your petitioner has prepared new schcd-
dule of rates for the various classes OF
service which it renders in the city OF
Wilmington and throughout the State OF
Delaware, a copy of which Is herewith
filed. marked exhibit ID.
Eleventh - Your petitioner further
shows that the amount OF money which It
i estimated the said new schedule Will
produce Is reasonably necessary for the
Dlrposes hereinbefore set forth, and will
not weld to your petitioner more than
reasonable return on the fair value Of its
property used and useful N rendering
service apd that the rates for the varlous
classes & service in SAID schedule are
reasonable, Just, non-dIscTImInatory and
no higher than the value OF the service IS
reasonably worth.
Wherefore your petitioner prsys that
your honorable commission viii au-
thorize and permit your petitioner TO
placp IN effect in the city of Wilmington
new schedule OF rates SIS set forth IN sald
exhibit d.
Exhibits follow;
July /, 1920
Assets-Intangible capital. $50 ,32653,
right Of way, $50, l77.17; land and build
ings. SI93, ,473 A; central Office equip
ment. $3.50. .569. 20; station equipment,
$40. .O69. 90; exchange lines. 81 709, ,952.5S;
toll lines, S597 ,7l0.4l other plant, sS,-
232. 70; general equipment, $50, lS8l6;
total fixed capital, s. 81 ). .69l .99; construe-
ton work in progress, IS, 1926; cash and
deposits, S33, $50 10; accounts receivable,
| sI0S. .346. 80; materials and supplies, S63,-
/ S63. 81: pTepavments. Sc, 76l GO; other de-
ferred debts, s., ,576.6S; total assets So
S4l, 1920.
aabilities-Capital stock, g, 900, 900:
advances from system corporations Tor
construction, etc, 1891 ,0l4.4S; accounts
payable, $40, 1854; accrued liabilities
not due, s26, ,307 04; liability for employees
benefit fund, S24, Col IS; other deferred
credit items, 81 .07493; reserve for ac-
crued depreciation, s646, ,969-46; reserve
for amortization of intangible capital,
81. .2q6. IS: corporate surplus, Sl5l ,539 SIS
total liabilities, $3,S4i, 1870.
August 81, 1920
Intangible capital, S57 1876 So;
right Of way, s59, ,s10.l2; land and build
ings, s1g3. .4s2 II; central Office equip
nent. $377, 1851; station equipment,
S48O, ,599 50; exchange lines, 81, ,720, ,929.33;
toll lines, s599, 1888; other plant, ST.
984. .68; general equipment, S62, ,345. .95;
total fixed capital, SO, $50, ,635 46; con-
striuction work In progress, SIS, ,203.63;
cash and deposits, s9,595.68; accounts
receivable, s85, ,40O.66; materials and
supplies, S67, ,928.99; prepayments, SI2,-
38O.71; other deferred debts, So, ,370.73;
total assets, s., ,756. .515.S6.
Liabilities-Capital stock, $4,000, 900;
advances from system corporations for
construction, etc, $685., 600, 600; accounts
payable, s51, ,934.05; accrued liabilities
not due, sI2. .332. so; liability for employ
es' Benefit fund, S24, ,563 u; other de-
fer1ed credit items. S716.61: reserve for |
accrued depreciation, S676, ,3S4I2; re-
serve for amortization Of intangible capi-
tai. SI7, ,7S5.2 .25; corporate surplus, S147,- !
5O0.21; total liabilities, $3,756, ,5I5.S6.
September so, 1920.
Assets-Intangible capital, $57, ,326. 60; |
right of way, $50, ,954. 90; land and build |
ings, SI93, Ass SO; central Office equip |
ment. S37S, ,395.47; station equipment, |
1886, ,636 90; exchange lines, 81 ,72l, ,7l037; !
toll lines, S599, OFT 81; other plant, 81 |
9S4. 81; general equipment, $62, ,461 .06; !
total fixed capital, 50 ,567 ,033 81 construe- |
4iou uorly in 1rogreSs 9QA 90 63- cash /