The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1943-03-01

according 70 the report. Greater
use Of fuel for production Of more
electricity and gas, together with
q sharp increase in the unit cost
Of fuel, was responsible for the
bulk Of larger operating costs.
Taxes and the cost Of guarding
company properties In accordance
with military requirements were
also large factors, Mr.. Campbell
said.
Taxes on the utility for 1912
amount to $4,769,392, on increase
of $685. 1888 over l941 and S2,l72,-
275 over 1910.
Most Of the increased revenues
came from industrial customers in
both the electric and gas fields, the
utility report stated, although near
ly all sources Of operating revenues
made gains over the previous year.
In o foreword to the report, Mr..
Campbell asserted that Connecti-
cuts production Of war goods Is
exceeded by only two other states
In the union and that The Con-
necticut Light & Power Company
Is responsible for supplying electric
service to IS per cent I the states
area and Il per cent Of It's popu-
dalton. He also noted that the
tremendous industrial expansion
for war production would have been
impossible unless public utilities
had been prepared TO meet greatly
increased demands for electricity
and gas.
The Connecticut Light & Power
Company has established several
inter- connections enabling It 70
supply power to surrounding areas
in order to conserve fuel and to
better insure an adequate supply
of power in the event OF destruc-
ton Of any one power plant or In
the event of an unexpected short
age in any one community.
The major reason for the Con-
necticut utility's fortunate situation
with respect to power supply is
that q new 45,000-kilowatt addition
to generating capacity Of Its Devon
power plant was placed III opera
ton last october. A second reason,
according to the report, Is that
coal, rather than oil, is used by the
company's steam plants for gener-
alton Of electricity and 1t has been
possible to keep coal supplies well
ahead Of needs.
Ten Stations
Important property improvements
listed In the report. in addition TO
the ,.expanded generating capacity
at ID on, included the installation
Of additional gas making equip
ment at the waterbury Gas plant
and the setting UP Of the first ten
stations Of o short wave radio net
work to speed emergency opera
tions.
, Because OF restrictions OH the
use of critical materials and the
adoption of many economies In.
Guiding quarterly instead Of month
ly reading Of i-.--. customers
the number Of company er"loyes
was reduced from 1888 at the be-
ginning of the year to 1877 at the
end of the year. The latter figure
includes 1874 men employed rs
guards to meet Army requirements
for protecting company properties.
Two women and 1852 men have left
the company to serve In the arm
ed forces and Of these, 80 are COM
missed officers and 45-non-con1-
missioned officers, a record which
Mr.. Campbell declares "bespeaks
the ability, intelligence and lead
ership Of our employees"
The utility president also noted
an increase In the amount Of stock
held by residents Of Connecticut
from 538,636 shares year ago to
STA, 353 shares 50 that more than
so per cent Of the stock Is held In
Connecticut. The number Of Con.
necticut stockholders has increased
from l0,645, or 54.3 per cent Of the
total number, to 1880 or 66.7 per
cent. The company now has 1885
holders Of common stock With IN
average Of $40 shares each.
Completion Of o financing pro"
gram undertaken In January, 1912,
has left the company with no foat-
ing debt and with q sufficient
surplus to take care Of all financial
requirements for several years, Mr..
Campbell stated.