This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 Excerpt: ... $3,300 in cash at the end of the year. The only reason for the use of the word "appears" is the over-sight of the writer in not getting the precise amount from the secretary of the city company. The latter did write, however, July 6, 1891: "The city is five months behind the payment for street lighting to the city to ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 Excerpt: ... $3,300 in cash at the end of the year. The only reason for the use of the word "appears" is the over-sight of the writer in not getting the precise amount from the secretary of the city company. The latter did write, however, July 6, 1891: "The city is five months behind the payment for street lighting to the city to the amount of $4,316.28." Had the city of Hamilton therefore chosen to hand over to the gas company full payment at one dollar per thousand feet for all the gas it used, and had it also paid for the lamp lighting, as it would have had to do if the gas had been furnished by a private company, the city company on May 1, 1891, would have had a cash balance of about $6,500, or sufficient, with the surplus of the following three months, to have put in all the meters and services needed. The fact that the city having used this surplus for other and perhaps more pressing needs, felt it wise to vote an appropriation of $10,000 of bonds for such extensions, is no evidence of unprofitableness in the manufacture and distribution of gas by the city. The entire debt when these bonds shall have been sold will be thus $170,000. In return for this and for an expenditure on extensions of say $10,000 out of the earnings since April, 1890, the works will surely be able to show during the present fiscal year ending April 30, 1892, a sale of 40,000,000 feet to the city, and to 800 or 1,000 private consumers at an expense including eight per cent. for interest and sinking fund on all the cost, of less than 70 cents per thousand feet. The expense during the last six months of the first year was only 72 cents, of which the eight per cent allowance for interest and taxes was 36 cents. Inquiries made at random of the merchants doing business along t...
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