ELECTRIC LIGHT.

Dominion, Volume 1, Issue 259, 25 July 1908, Page 5

ELECTRIC LIGHT.

RESULT OF ELEVEN MONTHS' TRADING. NET PROFIT £5000. ■ At the end of-July'the City Council, will havo completed its first year in .control' of the electric lighting works,' acquired early Inst year from New Zealand Electrical Lighting and Power Company) more familiarly known in Wellington as "tho Syndicate?' As it is one of tho most important ventures tho city has gone in for during recent years, more than ordinary interest will bo manifested in the financial result of the undertaking. What this will bo approximately was ascertained yesterday from his Worship tho Mayor (Hon. T. W. Hislop), who states that tho position is highly satisfactory. After making allowanoo for interest, sinking fund of 2 por cent., and depreciation (ranging from 1 to 10 per cent.), there is a net profit of about £5000, with still another good month to go. Tho reporter suggested that tho Syndicate had made over £20,000 a year. Mr. Hislop stated that no allowance was made for interest, sinking fund, depreciation by tho Syndicate, and thoso charges represented £13,500, besides wliich tho Counoil had made concessions in tho price of electricity, which represented another £3000. "I estimate," said Mr. Hislop, "that after these allowances aro accounted for we shall have made about £700 more in the year than the Syndicate did in its last year,"