A HANDSOME CREDIT

Dominion, Volume 13, Issue 8, 4 October 1919, Page 9

A HANDSOME CREDIT

ON ELECTRIC LIGHT

ANNUAL REPORT

In the course of. the annual report of the Electric Light Department occurs the following summary of the results of the working for the year ended March .11 last, with comparative figures for the preceding year: — 191S-19. .1917-18 X ■£. Itevenue 04.-U8 57,536 Working expenses 17.81(1 +1,021 Capital charges 16,716 10,792 Credit balance (on Working Account) 29,5G2 . 29,120 Appropriation Account. Credit balance ' from : Bevenuc Account. , J:29,8f.2 Amount written off station nlnnt, gootTwill, etc., and miscellaneous expenditure , 9.87S Not credit balance for year ......' .1:19,984 Tim amnunt Vo the credit of -Hi" re-' newal fund at March 31. 1919, was .«M35. Of this amount.. .£.12:12 10s. was on fixed deposit at the Union Blink of Australia, Ltd.. »ii-l the-balance. £.&. 1.05., represents File year's nunroprialion from revenue payable to the commissioners' within tho month of April. 1919. The amount to the credit of the reserve fund at: March Hi. 1919, was .CP435. Of 10s. was on fixed deposif/uit the Union Hank of Australia, Ltd.. and the balance. ,f«2 10s.. represents, the year's appropriation from revenue payable into the fund within the iiu-nth' of April. 1919. . The accident fund is now in credit to Ike extent of JE2581, of which amount .£1(100 is invested in AVar Lor.n certificates, and 'he balance, -CJ:i(!I, is in cash at Hie, liaiiTf. The private lighling and imblie lighting sinliiii" funds totalled r ei7,925 nt'March .11. 1919. Of this .amount. .641.342' is invested, or on fixed deposit <*t the Union Bank '' f Austrafia, T.id., anil the balance, .£3583, wns, in the hinds of commissioners at March 31. M'J. ■Tim expen'mturo on new works during the yeiir amounted lo <f.W-'f. Afror allowing for 1 the amounts written off old station plant, .goodwill and preliminary expenses, tho total capital expenditure now stands in tho balance-sheet at .HIS.253, built up out of tlit; following funds: Loans .'...'. ~....'..„....... 176,900 Contributions from depreciation fund • • _3™) -dto,2s:< The total number of connections at March 31, 1919, wns 1G.520, an increaso of 880' during.the year,' and are as follows:--1918-19. 1917-18. Lighting connections .. 10,711 • • 10.354 "Halting" A«3 .4,878 r0wer............ • !,b .' ,118 '■Total W>2o ,15,640 The following table shows the yearly 'expansion during tho last eleven coin-. pleto years.— m , , „ . Total Aearly Tear. • Connections. Increase.' 1008-9 •I'.ISG' -^ . , 1909-10. LSIO . ill . i9io:n -VMS ** .. 1911.-12 ..' - 0.C13 . «'!•' . 1912-13 , 7,854 . 1279 1913-14 9,0*7 1173 "'1914-13 ......;....:... 10,4.13 13% ■1915-1G 12.130 - 1677 ' ,1010-17 ' » 1-117-18 .'. 15,610 1821 1918-19' •' 16,520 880 On account of the impossibility of getting supplies of cable during the war period the'mains are in many cases greatly overloaded, but it, is hoped that it will lie possible soon .to renew the mams where necessary. It will be necessary as soon'iis practicable to place the . hign. ; tension mains underground within cer- • taiii portions of the city area, and as a: large expenditure of money will bo entailed! in the carrying out of this work, it is advisable that the present reserve funds be made available.in due course to meet this extraordinary expenditure.