The Waterbury Democrat., 1942-03-03

Operating revenues of The Con- necticut Light and Power Company for 1941 were up more than ten per cent over those of 194O according to the company'S annual report which was released today, but in- creases in expenses and particularly in taxes took more than all of the increase in revenues.
 A gain of $2,191, ,597 was noted in operating revenues over the pre- vious Fear, but after expenses were deducted, net operating revenues were S5 ,959,685 as compared with $6,313, 796 in 1940 Earnings per share of common stock were $2.94 for 1941, while in 1940 they were $3.21.
 President C. L. Campbell stated in the report that the costs of doing business have risen sharply and will rise still further. Taxes for 1941 were $3,725, ,709, an increase of ST. 138,592 over 1940. Wages. the cost of materials, the cost of being regu- lated-au have increased and will continue to increase. Because of these continued rising costs, most of which are beyond the control of the management" MT. Campbell said, "the time has come when no further reductions Gin rates) are possible, and increases must engage serious consideration"
 He pointed out that major gains had been registered in sales of both gas and electricity to industry.
 "The controlling reason for the large increase in revenues in 1941", the president stated, lis that Con- necticut in general, and the terri tory of The Connecticut Light and Power Company in particular, is one of the important defense industry areas-many of the manufacturing enterprises being easily and quickly converted from peacetime use to the production of war materials. This fact constitutes a distinct advan- tage because, of course, it means that at the conclusion of the emer- gency these enterprises can with equal readiness return to their usual products"
 MT. Campbell explained that the power required by the Company'S industrial customers has increased by more than 5O,O0O kilowatts. He said:
 Fortunately, this situation was anticipated and in September, 1940, the Company placed an order for 45,000 kilowatts of addition general ing capacity to be installed in its Devon plant, which it is. expected will be placed in commercial oper- ation September l, next. In October, 1941, the company placed an order for a second 45,0O0 kilowatts of ad- ditional generating capacity to be installed in it's Devon plant, which is scheduled for commercial opera tion in 1944. Because of pressing war needs it takes about three years now from the time the order is placed to get delivery of units of this type. It is with a sense of sat- isfaction that we are able to join with the other utilities of the State in the claim that no power shortage in Connecticut has accompanied the national emergency and no i1rAer- Aption of production of war mater | -S has been experienced on that account"
 He also pointed out that because of the Connecticut Light and Power Company's reliance on steam plants for the major part of its generating requirements, no power shortage was experienced during the 1941 drought when certain other sections of the country, where hydro de- velopments are the primary power sources, were handicapped by lack of electricity.
 Severance of the relationship be- tween The United Gas Improvement Company of Philadelphia and The