Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1922-11-01
LIGHTING PLANT
DENIAL MADE
Rilker Makes Answer to
Sheehy at Third Ward
Republican Meeting.
FIGURES ARE QUOTED
Mayor Wilson, Munoz and
Other Candidates Speak
at Club Meeting.

County Treasurer F. William Hill
ker, of this city, a former alderman
from the third ward. last night re-
piled to the assertions made by
John K. Sheehy, Democratic candi-
date for mayor, attacking the munic-
ipal light system, in speaking before
a meeting of the third ward Re-
publican Club.
Mayor William C. Wilson, during
his address, said he was endeavCr-
ing to keep his word and conduct
the campaign in a gentlemanly man.
ner, refraining from personalities or
mud singing of any kind. He said
he has endeavered to treat all alike.
Other speakers were Antonio F.
Munoz, candidate for alderman in
the third ward; Charles Forman, of
New Brunswick, candidate for sur
rogate; Harold Hoffman, of South
Amboy; Thomas Hanson, of this city,
and Wilton T. Applegate, of tios-
peet Plains. candidates for assem-
bly,; Freeholders Louis J. BeI,off and
Clarence NJ. Haight. seeking re-elec-
ton.
County Treasurer Hilker read a
statement replying to Mr.. Sheehy's
Oi tIG
plant, which follows:
Addressing the Italian Demo-
cratic Club On Friday, October ~,
John K. Sheehy, Democratic candi-
date for mayor, made some rather
erratic statements as to the munich
pal light plant.
He claimed the plant was run
ming at loss of s3o.e00 year. and
if he We're elected would close it up
and save the people $4,000 per
year. He also claimed that all of
the S2G0,3e bond issue was for a
duration OF fifty years. which is
misleading statement. The facts OF
the case are that $4,000 of these
are serial bonds and mature in the
years from 1919 TO 1882. To be
exact two bonds matured in 1913,
three in 1920, four every year from
1921 to 1881, leaving one bond to
mature in 1882, these bonds being
of the denomination of $1,000 each.
1t is therefore evident that the most
of this $4,000 issue is of a consid-
erably shorter period than the
people were made to believe. and
naturally the interest charges will
depress accordingly. The other
$150,000 bond issue was fifty year
term bonds and are being taken care
CT il the sinking fund amortization
Which means that sum of s1,145.06
Is placed aside every year for fifty
years; the compound interest and
earnings on this small amount at
the end of that period will equal
s150,000 and retire that debt.
THE interest charges on the first
mentioned bonds, (s5, 5,000.000-41a II
per cent Serials} will average $1,000
per year for sixteen years whlch is
the life of these bonds. The term
bonds are also 4 X per cent.
Now in regards to operating
costs. There was appropriated by
the Board of Aldermen in the bud
get for the year of 1922. the sum of
$33,765 for lamps and lights ac-
count. In looking over the comp
troller's report published in your
paper on October so, 1922, I see
there is an unexpended balance of
$12,397.1S as of October /, 1922.
These figures show that the average
operating cost for the first nine
months was about S2,375 per
month. Included in this operating
cost are bills for new construction
and some deprecated plant equip
ment. This would tend to show that
the actual operating costs are much
lower than shown by the above fig
ures as new construction is an as
set and should not be charged
against operating costs.
The writer in the past five years
of which this plant has been in op-
CONTINUED on page ~