The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1924-10-31

operating expenses higher than any
othe rplan of solving this problem. If
the City of Hamilton purchased cur
rent, they undoubtedly would have to
purchase it from the Union Gas &
Electric Co., of Cincinnati.
Q-Has the City of Hamilton re-
ceived any bids for the Electric Dis
tribution System?
A.-The Union Gas and Electric
Company has made bid of $5OO,0O0
| plus improvements since December,
1923. The engineers have estimated
that the present sale price, including
additions and betterments and mater
ials and supplies on hand will be ap-
proximately $565,00
Q.-Is there any money on hand in
| the Electric Light Fund which would
be turned over to the Sinking Fund
Trustees in case the distribution was
sold?
A-There is approximately $600,-
600 which would be turned over to
| the Sinking Fund Trustees, add the
S565, 900 received from the sale would
make total of $1,165,000 available
for the retirement of the bonded in
debtedness.
| Q.-What will the City of Hamil-
ton be required to pay annually for
street lighting?
A.-Street lighting will cost the
| City of Hamilton about 1000 per
year, based on the present number
| of lamps in service.
| Q.-Would the people of Hamilton
get the Street Lighting Service free
in case the new plant was built or
current was purchased wholesale?
A-No. If the new plant is built,
it would be necessary for the city to
pay to the electric light department
the cost of the street lighting. This
cost of street lighting must be
raised by taxation.
| OFF the Union Gas & Electric
| Company can operate an electric
business in Hamilton properly, why
can't the city?
A.-Because the electric general
ing business today is highly spe-
cialized and technical business. Men
in this business usually devote life
time to it and build up an organiza-
ton thoroughly trained in all it's
branches The busines salso requires
huge investments, and operatio non a
| large scale to make it profitable.
With changing political administra-
tions it is practically impossible to
operate such a business properly and
the history of municipal plants gen
orally has been that they eventually
hit the stone wall we are now up
against in Hamilton.
| Q.-Is a Public Utility Corporation
an asset to community?
A live, wide awake, public
utility corporation is unquestionably
an asset to municipality. Good SER
vice and low rates for electric SER
vice are the largest assets to COM
munity outside of good transporta-
ton
Q.-What is the outstanding bond
issue of the Electric Light Plant to-
| day?
A-The total amount of Bonds
outstanding as of August 1, 1924, on
account of the electric light plant is
! 1891, 500. These bonds will require
interest charges in the sum of $462-
430, to be paid until they mature,
making a grand total of 81, ,453 $4,000
which the city will have to pay in
retiring the present bonded indebted
ness of the City Electric Light Plant.
These bonds will all be wiped out
and this load will be lifted off of the
City of Hamilton if the Electric Light
Plant is sold under the proposed plan
of City Council
Q.-How will the sale of the Elec-
tric Light Plant help the city out of
its present financial difficulty?
A.-The City Of Hamilton is suf-
ferring from too heavy burden of
debt, and the interest charges and
bond payments are taking all the rev.
enue that comes to the City Treasury.
The taxes levied for Municipal Pur-
poses yielded in 1923, $494, 4,611.49. 1t
took 100000 of this money to pay
bonds and interest, and the city had
not enough money left to maintain
the police or fire departments, no
funds to pay cost of garbage collec-
ton, and hence the occupational tax
to raise more money and now the
demand of Council for an additional
tax levy of two mills. The Sinking
Fund Requirements on present out
standing bonds of the City for the
next seven years are as follows:
1924 .............................. $409,349.37
1925 ............................ 401 ,10272
1926 ............................. 517,039.07
1927 ,............................ 399,191.92
/ 1928 observation-disclosures. 1886, 5,113.68
1929 ........................... 274959.83
/ 1880 ............................ 370,422.27
This totals $2,757,178.76, or an
average of a few dollars less than
100000 per year. With the tax re-
ceipts yielding the sum of $462,43O
to be paid until they mature, making
grand total of ST ,453 $4,000 which
the city will have to pay in retiring
! the present bonded Indebtedness of