The Bismarck tribune., 1922-05-03
$1o,17s.A4 s2e,22e.ss s1e,o5o.o2

ey 'pafO the hughes EleCtElC OOuQdHy
by the Water Company between 1919
and 1922, he said, was $6,309.14, and
was a result of the increase in rates
granted the Hughes company by the
railroad commission. The electric
company formerly furnished the en-
gineer for operating the electric drt"-
en- pump, lie said. This expense was
placed on the water company and the
increase for current was from $4,-
1856 to $9,528.O0. !.
Asked to Explain
The witness presented his figures to
the commission in writing, was asksd
to explain them by attorneys for the
water company and cross ss-exam1ned
by the city attorneys. His summarized
figures on the operating expenses OF
the Water company were as follows:
Operating Expense
1919-$24,S80.SS.
1920-$30,57S.93.
1921-$4O,697.27.
Estimate)-1922-$46,3 1880.
No bond or loan interest or depre-
citation on plant included on above
figures.
Percentage of increase in operating
expense from 1919 to 1921 over: "a per
cent increase from 1913. on estimate
Of 1922 SO per cent.
Operating Revenue
7 ;1919-$ -$53,441.16. {
1925 55,56S.07.
1221-S6l,285.93.
q! Esttmate 1922 -$56,641.47.
Loss 6f revenue in 1922 from that
received in 1921 caused by abandon
ment Of service for various causes.
Percentage of increase in revenue
from 1919 to 1921 about 13 per cent;
increase from 1919 on estimate for
1922, 6 per cent. From 1919 to 1921 op-
Grating expense has increased "a per
cent while revenues have only in
creased azlittle oyer I2per cent. From
1919 to 1922 estimate operating ex-
pense increase Sc per cent, operating
revenue per cent.
Claims Deficit on Books.
Mr.. Poole. on the stand during the
morning, was questioned concerning
the various figures presented. he sald
that the deficiency Of the water COM
pany was $19,2S332 on September So,
1922. He went at length into details
of the financial condition of the water
company. There were over $2O,OOO
accrued liabilities on May l, 1922, and
about $4,000 cash on hand. Bills re.
ceivable were about 100000. No dlvi-
dend had been declared by the COM
pany since 1910. In answer to Ques-
ton of Commissioner Stutsman he said
that the bills receivable would not al
feet the deficiency.
The bills receivable, he said, were
chiefly in notes for old bills most OF
which had accrued before 1917.
Mr. Poole asked to explain testl-
mony of yesterday Afternoon by ex-
planning one point, saying that In the
Marvin, Mitchell and Peet report OF
1912 on the value of the plant they
deducted 100000 depreciation, leaving
the, value of the plant at that time
Of $3.50, 600.
chairman Milhollan asked the wit
ness il the company were settling up
a. reserve for depreciation at the pres
ent time, The witness said the COM
pany set up 2 per cent.
Cross-Examination.
City Attorney O'Hare. cross examin-
ing Mr.. Poole, inquired asst o his method
of arriving at values and figures.
Mr.. O'Hare asked if the witness
wanted to change his testimony in the
former hearing as to addition OF value
of tho plant by appraisal. witness
said whatever his testimony was ne
wished it to stand.
Mr.. O'Hare asked the witness con-
cerning bonds issued by the company
asking ii he wished to change any tes-
timony in the former hearing regard.
ing bonds issued, asking him specifi'
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