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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (March 12, 1916)
V TITTO OMAHA SUNDAY BEE: MARCH 12, 1916. 10 A Bonded Warehouses housed. It ia necessary that the congress Tfce Faeettoai (m Palpamaa. t'nlted plates and the republic of ran mi la establishing bonded werehouee In the canal terminal cities. The subject he been discussed at recent meetings of the Panama Chamber of Commerce and It la believed that an active campaign to further the project will anon be atarted. The national assembly of Panama, ha already passed the nereaaarr legislation authorlslnf the ennntruction of the ware of the United Ptate alao pas auch a measure. The merchant point out that with the opening of the permanent channel In the ranal tha business pportunltlea In Cen tral and South America, will be vaatly In creased and that In consequence storage facllltlea on the Isthmus wilt be greatly needed. With most of ns the grim necessity of purchasing coal Is no Joke. Yet a Boston TTian found at a coal emporium In thnt city a chap who managed to Infuse a de gree of facetlousness Into the trensac- '""low much Is rheatmit coal?" timidly Inquired the prospective cuatomer. 'That depend," eald the salesman. A K carte II I S. ciil-de-aac. It will coat you M centa extra." Kver body's Mega Inc. MEMBERSHIP COMMITTEE, COMMERCIAL CLUB OF OMAnA (snapped with Gov ernor Carlson of Colorado) Back row, left to right: J. M. Gillan, M. S. McFayden, Harry Steel, J. M. Harding, H. C. Hoel, J. R. Hyland, E. H. Benner, Robert H. Manley, Allan Tukey. Second row, left to right: J.T. Dysart, H. 0. Wilhelm, Governor Carlson, Miss Lena Bellman, L. V. Nicholas, C. L. Sykes. Bottom row, left to right: W. S.,Byrne, N. T. Thorson, J. T. McGuckin. For Canal Zone (Correspondence of th Associated Fresa ) PANAMA. Feb. 14.Effort are being fna1s by merrhante of Panama and Colon to Intereat tha governments of the From The Fremont Herald, Fremont, Neb., Friday, March 10, 1916. 8 JL&JLr p0 j by Almert. the expert. The loaaa are XPERT ALiulERT PROV In black figure In the right nana column: 1M5 F.'ertrlc I! i ?2 114 Klectrln 19.308.1 115 Klectrlc 6.03.73 Total LOSS $29,984.33 MUNICIPAL 113 Water 1.R!S4 1I4 Water .9S.S IfilSWater 2,927.19- Proflta .393.3 l P S .,A MM A FAILURE xhaustive Henort Shows That Lieht and Hater w Plant Has Run Behind $42,131.05, and That Gash Overdraft Aug. 1 Has $8,365.27 t IM1Y PAGES OF REPORT SUGGESTING SAVING METHODS IRISH LAND BIG CONTRACTS Mr. Kedmond Eeei to It that Some of the riumi Fall to Hii Country. FAEJiEHS NEEDED IN THE FIELDS SrrTth" jrrdln COAL SOARS HIGH IN 1 1 ALT tha atatlattca given by tha head of tha agricultural department. Ireland actually pj.jce jjag Reached AlmOlt Prohibi- importa an annual averse oi ib.ivu.vw tive Figtire Now of Forty Dollars a Ton. BEYOND BEACH OF THE POOB (Correspondence of the Aaeoclaied Preaa.) DUBLIN. Ireland, Oct. 1. Ireland la now at work on a large acale In the man ufacture of munltlona of war. For aeveral yeare pat thora haa been only one large Irlah factory of war ma terial. Kynoch'a, In County Wlcklow. It la an off-ahoot of the Birmingham firm of which Arthur Chamberlain, brother of the famoua Engllati etateeman, waa tha head. But tha neceealtlea of the war have In Ireland, aa In England, turned other tradea Into tha munltlona bualnesa. When tha demand waa made In Great Britain for a great extenalon of tha manufacture of all aorta of war materlala, Mr. Red mond aaw to It that Ireland ahould have a aha re In the echeme. Repreaentatlvea of Mr. Lloyd George' new department came over to Ireland and got into touch with the leading bualnesa man In Dublin and throughout the country. The Dublin Chamber of Comerce gave actWa aaalat ance and formed a apeolal munition committee. .' '. j"' - Tha work la now well In hand, and no leaa than 10 flrma in'lretand are engaged In It Large ordera hav been placed In Dublin, and one firm haa got an order for 10,000 pound, a email figure-on aha general acale of thla war, but a good deat of money for a city where employ ment la acarce and Induatry backward. Mr. Lloyd George haa eatabllahed In Dub' lln a branch oflce which U axpected to Inaure not only the execution of war eon' tract, but a continuance of governmeht work after tha war. A central araenal la being conatructed and equipped with ape clal machinery. Every available machine la being preaaed Into the aervlce, even thoae uaed in tha City of Dublin Tech nlcal achoola for the training of pupil. Tha employee at the new work are to be divided Into five rlaaaea, ekllled and unakllled men. aktlled and uuaklllej women and auxtllarlea who will work a time when the regular hand are rest Ing, aa at week end. .Employment la not to be restricted to men outakle military age, -the Idea being that the munitions worker la aa, useful as the soldier. " Several Cltlea Baay. TieUaat. whose main activity In the war Interest haa been the Increase in the out put of shipping from ita famoua yards, haa alao gone eertoualy Into tha munl tlona business. Cork and Limerick, and vea some of the smaller towna through out the country are also employing all the machinery they ran command In making sheila or part of ahella. Munitions are not the only branch of war trade of which Ireland haa demanded and received ahare. Some of tha textile factorlea have had good ordera for cloth ing materlala. Ireland never haa In tha past aecured a fair aha re of government expenditure, and at the beginning of tha waa waa greatly hampered In competing for contract by the fact that the depots for examining and receiving goods were In London. Agitation, however, led to tha establishment of a dvpot in Dub lin, where certain claaaea of gooda of Irish manufacture are dealt with. But there are atlll restrictions limiting the clacHea of good, and an effort I being made to widen the utility of the depot by admitting to it all tha gooda produced in Ireland which are required for military and other government aervlce. Kood Necessity. Ireland chief industry is and must remain agriculture, and one of tha moat Indispensable of war munltlona i food. A vigorous campaign haa been instituted under government auspices to increase the output of food product la Ireland. It Used to be told that I la function was to t the fruitful mother of flock and . herd. Now tha cry la all for tillage The difficulty la that the graxlng ranch system which belongs to the old theory has nut been abolished, and the people have not complete access to Che. land. ' They arc puzxled by the two voices with which they arc addressed on their duty in the war. On the one hand they are told that it 1 the duty of the farmera to enlist, that tha state haa done a good deal for the Irish farmer and that his time ha com to ahow hi gratitude by l,ouidring a rifle la the new armies. Continent ia freely made on the fact that the farmera and the farmera' sons have not enlisted in the same proportion other vlawea. The complaint is true aa regard farracra of all rU of Ireland and of all parties and creeds. It is true of Knglish farmers a well, ilut now (here li .t!;e 0 w .campaign for increased fu..d pruductii.il which cannot Ui worked If the nun leave the land for the armies. Ko the recruiting sergeant nud the gov ernment agriculturalist are gutting In each other's wsy. That there ia room for a considerable pounds worth of foodstuffa which could easily be replaced hy home grown articles. He ha pointed out that If Germany had tilled aa little of Ita aoll aa Ireland It would have been exhausted In alx months. Germenv tills 65 ter cent of It arable land, whereas, he aava Ireland tills only (Correspondence of the Associated Press ) 14. The Inevitable topic of the American ROME, Nov. .-Coal la 40 a ton In exchange and the balance of trade crop Italy, and continue to aoar. It w-ent up lit .v.n .nrf lh. Irth larmee is HO a ton IH On ween. inu " nn!M to hT tha a vilciiltura minister a aeriou. ana migni nevoine L.i. h. .r ik. ,iiu.l war factor, ao far aa itaiy ia concern". " I .... . ... by Importing lea American food, and oai is me lunoa.nema. producing more of hla own. Harvard Men Setting Fashion in Trenches Italian Induatry and commerce, moving tha railway, running the factorlea and keeping up such public utllltlea a elec- trlo light and power plants, go ana water work. treet rallwaya and tram way, aa well a for household heating and cooking, not only In Rome, but all over Italy. Such a phenomenal rtee In tha price or coal ha never before been known. To Italy the shortage I crlou chiefly be cause Italy possesses no coal mlnos of The Plant Has Cost (he Taxpayers 5627,062.20, and Replacable Valuation Is Fixed by the Expert at $477,099-1 5 Accounts Receivable Show Miserable Collection Service, the Amount of Out standing Bills Due Having Nearly Doubled in Two Years Merchandise Ac count Shows Loss of $10,000.00 (Correspondence of The Associated Press.) PONT-A-MOUBSON. Franca, Feb. 29 The clean ahaven American motor am bulance drivers, moatly Harvard men. who have ahared In the operatlona around ita own at home or In the African colo the Bol le Petre for nearly a year, have nlo,, , there la no outlook for getting a set a fashion In Pont-a-Mouaaon. Tha auDDly except from abroad, and tha for- "Muaelpontains, a the . inhabitant of tlgn supply I In the hand of the enemy this old Lorraine town are- called, have 0r taxed to It utmost capacity for it purchased raaoni and atren the soldiers own need. While there wa no war itaiy resting here between two turna In the I needed no coal field of ita owto, aa tha trenches go, back beardltis In honor of French and Belgian field war near at 1 1. . . t , I . .... . i vWkMAh mmI fields uie Amtrritune. - , i nanu . w now r iiw The garage of the section of lh Amer- 0f Fa d Calal and thoa of Belgium lcaa amhulnnoe oDeratlna1 here la located have caaaed Into control of Germany, at Dlculouard where occurred one of the bloody engagement of the battle of Nancy.Thcre were only three car at the beginning, but they have been Increased to twenty-five, running every hour of the twenty-four when there la an action tho ally of Aualrla, with whom Italy I at war. similarly Auatrta aireicnea aa a barrier between the Polish coal field and Italy. So that about tho only supply left for Italy 1 England, where tne Welsh coal field are hardly equal to tn on. When there's nothing doing at" the demand of England own factorlea and front, three car are kept ready at the relief poat for emergencies;, and the otlt- era In the garag ready for one of tho systematic, bombardment of Pont-a- Mouaaon. "The American will have a good place In the history of "Pont-a-Mousson," aaid a French officer of tha division, "ao that later on when our children realise It they may know they ahould perpetuate the gratitude we owe to them." ; Many vlcllma of the IMO-ard moro of shelling the town haa endured owe their Uvea to the aid of the. American, ambu lance drlvera. ..,).. The general commanding the division The "bunk" which the board of of pub Ho worka of the city of Fremont haa been handing out to the people in the paat three annual report haa been proven a meaa of Ilea Through Ita official organ, tha Fremont Tribune. It I today con gratulating Itself on the splendid show ing which the expert auditor, Harold Al mert, of Chicago, submitted to the city council la Monday night The contention of thla newspaper that the city light and water plant haa been run at a lose the paat three, year I . 3T fully proven by the cold flgurea of the! audltor'a report, and Its charge of aev eral years ago' that the plant haa never made a dollar of profit la alao proven. The Herald la now going to give the official statement as set forth, not only by tho board of publlo works, but by tha auditor' report Itself, and the peo ple may Judgo for themaelvea whether or not The Herald haa been telling the truth, or whether the board of publlo work ha deliberately lied to them. Hero are tho figure taken from the state ment of the board of public works of the PROFITS made by the plant for the laat threo years: For the yearlng ending--July SL 'la-Electric IM.&fci.Bl Water 8,3K.23 July SI, "li-Klectrlc E!..H7.83 Water 7,782.62 July SL '15 Electric 7,757.08 Water 64.75 Total claimed profits. S yrs $73,174.08 Here are the net profit or loaaee for the aame period of time, as reported Tear ending August 1, . . A8SET8 Physical Property. .Electric 4 Water stores and Supplies Accounts Receivable...... City of Fremont City of Fremont DEFICIT navy, and It nearby all. France, with out also supplying Italy' need. And so coal ia mounting W torn time ago; tne, $10. then $15. then 20. $25. $30, and now 140 a ton. People no longer buy coal by th ton, but by the bag, and a bag of coal which can be awung over th ahouldcr costs . This means, of course, that poor people can no longer buy coal and can no longer keep warm, except aa the mild Italian climate may help them. But the climate doea .not help the railways and lactones, and industrial Italy la the worst sufferer from coal shortage and exceaalve price. There has even been talk, since Italy Is not at war with Germany, of getting CASH OVERDRAWN , . 'lectrlo Water ..(bills due from customers).. Light (1) Skater (1) jL'GHT VATKR LIGHT AND ' WATEr! .LIGHT WATER Total ..' $821,293.40 1913 1914 1915 $243,162.99 $250,732.45 $274,655.98 179,979.34 194,983.60 202.443.17 11,255.18 12,371.40 11,678.86 2,190.38 1,332.53 1,356.37 12.223.47 16,847.23 23,090.71 136,189.99 146, 159. 6U " 156.349.16 191,990.00 197,877.00 203,665.50 .' 1,097.U 41,034.01 4.V&24.HS .t . 822,906.18 v 864,264.91 915.371.80 1,612.78 lfc,4uo.t4 $821,293.40 $851,504.07 $907,006.33 Nf:T I.OS8 $11,890.96 In other worda, there la a discrepancy of $!4,7.,i.04 In the board of publi: worka' atatementa. they having accept. I aa true and correct the report of the auditor, and the dlacrepancy la male up as follows; Total profits according to hoard of public work $73. 174. 0 Net loas. according to expert'a report :i,530.H Total $94.75.0t A slight difference, Indeed. Thtw fea ture of the atatement simply shows the woeful deficiency In bookkeeping meth ods at the city plant. What stands out boldly and Incontro rtihl Ik (ha accented report of the expert, showing a net Ions for the plant the paat year of $21,590.96. The city light and water plant la a fin ancial failure. Fy the report or tne board of public works, which have been quoted by advocntea of municipal own ership all over this country It haa been made to appear that the Fremont muni cipal plant Is a gigantic aucceaa. Now that an expert haa completed the labors of six months, and his report haa been duly accepted, and hailed with delight by the Fremont board of puduc worn. it Is shown to be a failure from tne profit viewpoint. Further, the report oi the expert shows that the riant has never made a dollar in its existence, and that there Is no prospect for it ao dolnc until a radical change haa been made In It method and It management. On thla page ia printed the complete halanee aheet of Expert Almert. To those who have me iainiesv mwnics" keeping it will be easily understood. To those who do not understand the methods v.i.k.nir. ha Tlnrald has enaeav- W.w.v v,.... - - - ored to throw light on tne ngurca oy various reference thereto. The report of Mr. Almert ta Incorpor ated In a volume of 180 pages. It would be Impossible to set forth all the fea tures of the report In this Issue of the Herald, but It will continue from week to week to further enlighten the publio which Is now showing the greatest inter est in the subject It took ten pages of the report for Mr. Almert to tell the board of public works things that would be helpful In correcting the error heretofore made. Thirteen page are given up to classification of aaeauztt. and two f those pages sug gest a condition which hould be cor-, rected by the board pesdlly. Ten pagea are given over to an exhibit of errora mad by the bookkeeper of the plant. Pagea 74 to 91 I given over to errora which were found on cuatomera' ledgers, and this would be very interesting read ing matter were the headings of the ae-, counts given by nam, Instead of by num ber, for the mistakes, so-called, will read ily Indicate who seemingly profited by the' blunders. Then there are pagea of detail of inventory, followed by the re ports of earnings and losses, and the bal nea sheet which appear herein. nil. LIABILITIES Notes Payable and Warrants City of Fremont City of Fremont Accounts Payable Taxes Accrued recognised their work officially In the trom Germany, and for the possible following citation: .,rhnn of soma other artlclea of mu- "Sanllary section No. S of tho American tual nt.e(1, importing coal from Japan is ambulance. Composed of volunteers, I ftlB0 being considered, but the tranapor frlend of our country, they, all of them, tatlon coat la so great that Japanese coal have not ceased to make Jhemselvea would probably not bring th price down noticed for their enthusiasm, courage and much in Italy. Wood a a substitute Is seal. Careless of danger, they have out of th Question, for Italy'a tree and worked without reaplte to rescue our timber supply Is practically exhausted. wounded, whose gratitude and friendship they have won." Signed: 'The General Commanding.'' The relations of the Americana with the French officer are excellent and In Pont-a-Mousson they are "adopted cltl- acna." CHINESE SMACK PAYS and even bunchee of twlga and fagot have become a luxury at high price. The leading hotel at Rom have poated a notice atatlng that owing to the high orice of coal the Aaaoclatlon of Hotel Keeper ha agreed to.charg each guet 1 lira (20 centa) per day for th hotel expense for coal. Thla la In the large rrr and Important hotela known to Amerl- I . i a.tel. p.niltr.mnt haB Official!; Aldfrsisa Collects Mar. rlaae Coat from Pretty Celeatlal Bride. Unbilled Installation Work uepreciauon Accrued. . . Oepreclatloa Accrued....". Misc. Acer. Liabilities Surplus .......... .Light (3) .Water (3) .Light and Water...., Electric 2) Water (2) , , i.ieut . . . .iW ater Total Liabilities. .$ 5.621.18 $ 5.621.18 $ 11,646.7:1 . 253.727.74 263.549.99 273.540.55 . 339.476.12 346.403.37 353.521 25 271.34 4,451.04 15,941.38 . 65,925.65 C5.929.65 75.265.88 . 55,037.25 63,145.58 03,262.24 1,000.00 . 46,865.87 57,925.14 09,436.05 . 37,066.34 40,481.40 44,367.05 . 23.0) . 16,302.91 3,996.72 .$821,293.40 $851,504.07 $907,006.5 S (1) Those amouats represent service rendered to other municipal departments by water and light department, ui nui-u uu ayocuic payment nas Deen niaae. (2) These amounts represent funds raised by taxes specifically levied for the use of municipal water and ligl't UOJ4BI 11U9UIB . (3) These amounts represent cost to taxpayers for water and light plant, excepting specific tax levies covered yj uum 4i suu suojeci 10 reauction oy amounts indicated by note (1). INCOME, OPERATING EXPENSES AND FIXED CHARGES ELECTRIC DIVISION Foo King Luck wanted a quiet wedd'ng, o ah and the brIJegroom. Ulnn Kan Ixu. stole out of Chinatown and were united in the holy bonda In the office of Kly Rosenberg, a lswycr of M Itioatway, New York. The ceremony waa performed by Alder man laaao Outman in the presence of about firty of Chlnatown'a notablea. The bride waa attended by her aunt. Fung Hhee, while the witnesses were Emanuel Cohen and Chuc Glnn. goo Blng Luck wore a heavy brocaded light blue gown ornamented with large, embroidered dragons. She aald ahe waa 19 yeara old. born In Fan Framiaco and of 41 Mott street, (linn San Ixu, who Is one of the lent known mcnhnnU of Chinatown, gave lils aito aa 30, and ad. led t!it he. too, was born In Hun Framiaco. After tl 6 ceremony had been performed the bridegroom turned to Mr. Uutman and arked hla fee. "A ktsa from th bride,", replied the alJermun. Jlnu Kea Lou looked at her. Soo Bins Luck almply puckered up her lip for an answer and Outman collected hi toil. The bride, who 1 exceedingly pretty, went to live at $3 Mott street lit hand some apartments which tlinn Han Loi Jut furnished. New York 8un. ever before prevailed. A family of five thua paye $30 extra per month for Ita share of the hotel a coal. American coal ahlppera have been urged to enter the Italian f eld. But acar-ity of ahlpa and the high coat of transporta tiondue to the dangera of coal aa con traband of war are aaid to stand in the way of relief from that quarter. o that one of the effeita of the European war ta to make the high price of coal a vital queatlon for Italy, and the absence of any apparent remedy ia even a more serious question. Key to the HI nation Ik-e Want Ad. Tail la (ilad. BOSTON.- March 11. Former' li..l.l., Taft, aieaking ou the Monroe doctrine at at cllnnri' of the I'nilariun club tonight, .aid ha u glad a aufficint lorce of the l i.iird feinu-s troops waa being sent afltr Villa. Year Ending Gross Income from Opera tlon Operating Expen Generating Expenses . Distribution Expenses . . Consumption Expenses... Commercial Expenses . . . General Expenses Total Operating Expenses Gross Profit from Opera tion Other Revenue merchan dise, appliance, etc. Loss $24,159.18 6,883.16 900.00 3.582.74 3.007.97 -July 1913- -July 1914- -July. 1915- $51,168.14 $56,915.67 $66,555.11 REGARDLESS OF THE WAR IMPROVEMENTS GOING ON (Corrcapondence of The Associated Preaa.) PARI 8. rb. The transformation of old Paris are not to be arrested by war. The president of the republic haa Just decreed the widening of the rue ValoU and the tue Croix dos Prtita Champs in the l'liit Arrondisarmcnt. to give mor) air to the Bank of France. Part of the old rue dea Bona Knfanta and all of the rue Balliif will disappear under thla decree to give room for the extension of the bank. A new atreet will unite the rue Valoia and the rue Croix des Pettta Champa beginning in th rue du Louvre at the Bourse d Commerce, and running to the eaat arcadea or the Palais Itoyal to give a better outlet to the circulation from the central market toward the Place do Op-ra. The cutting of the new street at that pflnt Involve the diaappcaram-e of the chancellory of Orleans, an important artistic and historic relic ol old Paris. but the contract with the Bank of France reulrea the revonatitutlon In the facade of its new extension of all the part of the old structure that have a historical or artistic Interest - - .... Net Income Fixed Charge Depreciation $10,703.42 Taxes 2,748.02 ' Interest on floating debt 7,372.84 Total Fixed Charges.... Net Loss $38,533.05 $12,635.09 4,306.10 $ 8.238.90 $20,823.28 12,.Vt.3H $29,025.60 7,(,::j.f7 853.31 3,845.03 3.364.76 $11,063.27 2.892.05 6,926,13 $44,722.49 $12,193. IS S,J 17.02 $ 8.575.25 $20,881.45 91 2,8041. 19 $31,990.89 7,123.58 903.30 2,733.76 3,990.15 $46,741.0': $18,813.66 2,418.13 $16,400.53 $11,506.91 3,488.74 6.496.64 121.494. 2J 9 3,O03.7U WATER DEPARTMENT Year Ending: Gross Inc. from Oper...t Operating Exp. Pumping Expenses ,,...$ 4,4 00.65 -July 1913- ri..4 C-..-... Commercial Expense , , General Expenses Total Operating 398.77 691.41 896,88 Gross Profit from Oper. Other Revenue I Net Income . . . Fixed Charges Depreciation . . Taxes Int. on floating debt.... Total Fixed Charges.... $ 3.36S.54 2.000.80 4,337.36 Nst Profit $19,345.44 $ 6,387.71 $12,957.73 241.51 $13,199.21 9.696.70 $ 1.602.51 -July 1914- 6,201.90 601.79 620.00 1.050.80 3.416.06 2.317.55 4.609.70 $20,428.06 $ 8,274.49 $I2,153.r,7 153.37 $12,306.94 $10.343.31 $ 1.963.63 -July, 1915- 4.521.15 1.012.04 611.25 1,185.87 $21,076.8 $ 7,330.3 $13, 746. r, 184 3.855.65 2,687.29 4.460.59 $13,930.7 $11,003.53 $2,127.1!) date, the enor and that the Is H77,0.1S. nercnanniso .ie llvlslon S10.42I.2j - l. - a . ! (1 That Th Popl Kay Know. Observe that the plant ha cost tha taxpayers of Fremont to date, the enor- mm. of SS27.062.20. and that tne coat to replace the plant Note the loaa In the merchandise pertment pf the electric div In three years' time: borne royal benefit in this account, and the taxpayers are paying for it! Look at the bill receivable account bills due the city for light and water service rendered, in 1913 the amount owing on thla account waa 112,223.47, the next year it w-a Increaaed to l,84i.l3 and for the year ending July 31, 1915, the outstanding sum of J23.0OO.71, which practically 26 per cent of the total annual revenue of the plant! And how much of the 13,090.71 la col lectible? The expert haa no knowledge. - lie waa unacquainted with local condi tions. Ita had. no way of determining whether 10 per cent or SO per cent waa collectible. It la safe to aasume that a large part of th outatandlng bill tail never be collected. There' an Item which some day will have to be charged up to loaa account. The plant haa overdrawn Its cred'.t with the city to tho amount of JS.SGi.lT In cash, and yet Jt haa 123.000 of accounts with which to help out the cash drawer. Lovely management! And outstanding warrants drawing good interest, U'. Beautiful management! If you were overdrawn at the bur.k for fS.OfO. and had JJ 000 or hills due you. would the bank "call" your overdial You'll guess yes. Member Peter Nelson, of the board of public worka, tried to ascertain from the expert how soon the board could br-tU even. lie Inquired: Just one more word, Mr. Hamilton: the plant muat make up approximately tW.000 before It gets even. Is that It? Mr. Hamilton said: "$?l,Ono represents the deficit for the last three yeara." "What I am trying to get at," said Mr. Nelson, "you figure six per cent on the ItOo.OOO present value and then add the taxes?" "Yes, air." "That would be approximately 130.000." aaid Mr. Nelson. "Yes, but you have to make up that deficit that you started out with first, which would be approximately $42,000." "You figure the present value at ttoo.fuO and alx per cent on that." "Yes." "And we have a deficit every year?" inquired Mr. Nelson. Yea." aaid Mr. Hamilton. "The lat year being the amallcM ef the aurl.t. IL'.COO." "If we have to pay I30.0C0 before we are even, that ia a pretty big handicap. It takes a mighty good business to do that," said Mr. Nelson, and he might have added, it takea mighty good business ni'.a to do 1U Advertisement. . . ,
