Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-04-18

of operations under the lease from
which verifying from vouchers
Early April response a Commission,
officers and Engineers submitted exhaustive study with suggestions
Gas Works At the request the Commission President prepared
the following of the results sought to be obtained for puba
tion with the letter accompanying the study:
RESULTS SOUGHT ACCOMPLISHED
The Cy right terminate the arrangement at
any time predehned conditions.
In lieu Of opportunity for profit provision for suitable and
defined compensation to the Operating and Financing Tenant
financial plan capable providing for undnss
through the issue from year to probably in se of securities
which might be called Equipment Certificates each to bear the
long enough discharge principal
to add only the practicable for that the
Of and to be
may be necessary to create a marketable security
issues by Public as may be
stabilize and the results intended be accomplished
M willard F. Secretary Commission City Hail. Pudpha~
Dear
In February 1921 Question follows:
on the basis of the heating value standard which
mend outline detailed possible changes
which should be plant
production taking into account interest charges and ultimate
The submitted represents carefully effort
question The outstanding facts which,
give rise the necessity of adopting
City and Of gas consumers
l. The to Of its capacity and
additions must be provided for Immediately order
the terms Of the lease which spec % candle h
can be readily h change on as s
economically unavoidable because scarcity
production which will produce resultant
mixed gas Of $50 B. T. u at minimum cost.
Such additional construction for production pu
should be undertaken Immediately as may be IN
8wOVe on the lines set out above the expenditure
year. making grand total interest approximately
After the deduction paid accrued to the Citv Of
operating companys deficits
In 1913 $s54194
oao 7a22711a o.
without earning paying years on improve
f b OF other than those represented by the
The above deficit in 1920 following avap.
prices for material s'
&c, Generator Fuel 772
the low price of oil being made in 1919
lhere no assurance that not occur in
% s o, dr the present lease and the
The above construction amounting with interest to
Pp*matey $ooooo financial problem of such magnitude
at II would be practically impossible existing conditions to sell
tinued operation. ' " construction and for con-
" not necessary to Commission the manifest i'm
in the gas industry increasing the capacity from t 20 %
y the public need Any other policy result ultimately in ito
cripple the building and industrial development of the City ~
plan proposed provides alike improvements urpentv
CURED at once and for the development Of the ant @
en WI" insure its efficiency and while it
basis for financing work. estimated rates for Gas ~
"oderae when compared with rate ~ 'N''
10 cite but of kno,v, % a.
SHOWS that in Boston, per cent Of tho snn
COKE oven the by the Public Service C
ION Tor oZs B. T. u po.on
from the operation gas works -" feuh
!, mere the Cltys actual income vouId
the psn was for 1920 sas8s and will constantly % continue under
CROWN OF the business in addition which verv WIN ns
inc pubic lighting o. cost '1e-"O'e part OF
H., ~ pan amply safeguards the Of the Cv and M h
, 'ha the City possession of tL ,
49, efa''ng company satisfactory horr
ana ooigatons then ar. y
conditions. 0 ." accordance with prevailing
bv tb uu operation and development works o cor.
'essse or another, on ,LiL
sh .I an on which any other plan purpose n M t
rates Tor gas of necessity be Increased 90 -
ne" operating fors
panv b ' as economically as The United Improvement C
Vi us twenty-five
effort. '" ue'eoPea as the result Of
rncipl hash