Newspapers / Forest City Courier (Forest … / Aug. 28, 1930, edition 1 / Page 18
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SECTION TWO- FRANK P. STRATFORD !•- V CERTIFIED PUBLIC ACCOUNTANT 7 Rutherfordton, N. C. August 19, 1930. Mr. E. C. Marshall, President, Southern Public Utilities Company, Charlotte, North Carolina. t Dear Sir: In accordance with your request, and through the courtesj and co-operation of the officials of -fche Town of Forest Citj in making available the data requested, I give you below the result of computations I have made for the purpose of deteim bring to what extent the Town of Forest City would be finan cially benefitted by the sale of its utilities to Southern Public Utilities Company in accordance with the proposal of purchase made by your company. I believe my computations have been made upon sound principles and that the results shown below are conservative. Assuming that the sale is consumated I make the following comparisons: (a) On the one hand the Town would lose its present cash revenues from the utilities, which for the past three years have averaged the * _____ $15,634.00 net sum of b) In addition to the above the Town would pay to Southern Public Utilities Company for service in connection with street lights, fire hydrants and flush tanks 11,902.00 (c) There would also be an additional expense, at regular rates, for light and water consumed at the City Hall and other extras, estimated , at a maximum of 700.0U MAKING A TOTAL OF $28,286.00 ~(a) On the other hand the Town would re ceive $415,000 from the sale, which, if appli ed to reduce the present bonded indebted ness, would effect a saving at 6 percent of— $24,900.00 (b)The burden of depreciation on the water and light plants now carried by the Town would be shifted to the purchaser. This item re duced to dollars as follows: Water plant-Cost $162,980 @ 2Y> percent $4,074.00 Light plant-Cost $ 58,065 @ 5 percent 2,903.00 6,977.00 (c) Town would realize taxes upon the prop erties when owned by the purchaser in an estimated minimum amount of 2,000.00 MAKING A TOTAL OF J $33,877.00 (a) Thus it is seen that the Town would gain in one direction the sum of $33,877.00 (b) While it would lose in the other direction * the sum of 28,286.00 Jr- • » _____________ RESULTING IN A NET GAIN OF $ 5,591.00 The above figures are presented upon an annual basis. The annual cash revenues were taken from the reports compiled by the auditors for the Town. The cost to the Town for ser vice of street lights, etc., is based upon the number of such fixtures now in use as given me by the Town Treasurer multi plied by the rates per fixture named in the schedule of rates furnished by your company. The depreciation is computed upon a cost value as apprais ed by Carolina Engineering Company, the Town's records not having been kept in a manner to-reflect the costs. The rates proposed to be charged by Southern Public Utili ties Company to the users of water and electricity are as fol lows : FOR WATER: First 3,000 Gallons . SI.OO Net Next 3,000 Gallons .25 per M Gallons Net Next 4,000 Gallons .20 per M Gallons Net / Next 990,00 Gallons .14 per M Gallons Net All over 1,000,000 Gallons .11 per M Gallons Net FOR ELECTRICITY:—Lighting: „ First 25 KWH $ .08 per KWH Next 275 KWH .07 per KWH Next 300 KWH .06 per KWH Next 400 KWH .048 per KWH Next 1,000 KWH .035 per KWH Next 2,000 KWH .03 per KWH Over 4,000 KWH .028 per KWH Minimum SI.OO. Discount for payment in ten days, 5 per cent on bills up to 100 KWH and 3 percent on bills over 100 KWH per month. Power:— First 50 KWH $ .06 per KWH Next 150 KWH .045 per KWH Next 200 KWH .03 per KWH Next 600 KWH .026 per KWH Next 1,000 KWH .02 per KWH Next 3,000 KWH .018 per KWH Next - 4,000 KWH .0165 perKWH Next 10,000 KWH .016 per KWH Next 80,000 KWH .014 per KWH Next 50,000 KWH .0135 perKWH Next 100,000 KWH 1 .013 per KWH Next 100,000 KWH ... .0125 perKWH Over 350,000 KWH .012 per KWH Minimum: SI.OO per H. P. connected up to 25 H. P. .75 per H. P. connected from 26 up to 50 H. P. .50 per H. P. connected from 51 H. P. and over. Terms: Net in ten days. Cooking, Heating, Refrigeration, etc., in consumer's home: First 50 KWH— $ .04 perKWH Next 50 KWH .035 perKWH Over 100 KWH .03 per KWH Minimum: $2.00 per month. Terms: Net ten days PAGE EIGHT «v* . • ' ;.f t. ' ■ - THE FOREST CITY COURIER, THURSDAY, AUGUST 28, 1930. Cooking, Heating, Refrigeration, etc., in restaurants or similar establishments: T/TITTT First 50 KWH * ■»« P« KWH Next 150 KWH -^ 5 per Next 200 KWH per £WH Next 600 KWH -®26 P er Next 1,000 KWH - - 0235 per K ' WH , Rates for further consumption on file at City Hall. Minimum same as for power. Terms: Net ten days. The rates now in effect by the Town at which charges are j made to users of water and electricity are as follows: J FOR WATER: First 3,000 Gallons ' sl-00 j Next 3,000 Gallons .25 per M. Gallons! Next 4,000 Gallons . -20 per M Gallons j Oveal 10,000 Gallons .15 per M Gallons Industrial Rate -15 per M Gallons. Minimum: SI.OO per month. Terms: Net. j ' FOR ELECTRICITY:—Lighting: ! First 25 KWH $ -10 Per KWH Next 15 KWH .07 per KWH Next 25 KWH .06 per KWH Next- 85 KWH 1 .05 per KWH| Next 150 KWH. , 035 per KWH!" Next' 200 KWH 0345 per KWH Over 500 KWH at flat rate as follows: 500 to 1,000 KWH .038 per KWH 1,000 to 2,000 KWH 034 per KWH 2,000 to 3,000 KWH 03 per KWH 3,000 to 10,000 KWH .025 per KWH Over 10,000 KWH. 0225 per KWH Minimum: SI.OO per month. Terms: Net. % Power: First 50 KWH___ $ .06 per KWH': Next 150 KWH .045 per KWH Next 200 KWH .03 per KWH Next 600 KWH .026 per KWH Next 1,000 KWH 0235 per KWH Next 1,000 KWH .0225 per KWH Next 2,000 KWH .0210 per KWH All over 5,000 KWH _1 .0190 per KWH No Minimum. No Discount. Cooking:—Flat rate of $ .03 per KWH. Minimum $2.25 per month. rate of $ .035 per KWH. Minimum SI.OO per month. I j Respectfully, i F. P. STRATFORD, C. P. A. CONCORD NEWS Ellenboro, R-2, Aug. 25.—There were several visitors* in attendance at Sunday school at Bethel, last Sunday. TheSce w*ere one hundred and sixty-five percent. Rev. L. D. Harrill called off his c-.ppointment at Bethel on account of his meeting going on at Concord. Bethel was invited to attend church up there Sunday night. Mr. and Mrs. Gather Jenkins spent 1 the week-end at Mr. S. L. Hamrick's. j Mr. Leon Hamrick, of Boiling Springs visited some of his relatives 111 Ellenboro last week. Mr. Odus Hamrick visited his step mother, Mrs. Gaither Hamrick. \ Mr. George Hamrick and family I spent last Sunday with his brother, i i>. C. Hamrick. Mr. W. E. Hill and sons, visited their grandmother last Sunday. Mrs S L. Hamrick, Jack, Estelle, and Charles Hamrick visited at Cliff- ! side Sunday. i Vertie Mae Hamrick visited rela-1 lives at Boiling Springs and attended i the revival meeting tnere. : Mr. and Mrs. S. W. Holt and child- '■ aren, visited Mrs. B. L. Hamrick; last Friday. Mr. Howard Carter and Miss Addie j Hamrick, Mr. Floyd Tate and Miss * Hamrick attended preaching J last Sunday night at Concord. | Miss Lucile and Vertie Mae Ham- rick spent last Saturday night at« Mr. Belton Beason's. } INMAN R-2 NEWS ! Inman, S. C., R-2, Aug. 25—The ' many friends of Mr. Wade Powell will be glad to know that he is im proving very fast. Mr. G. G. Gilbert and Mr. D. Robbins were visitors at Mr. T L Gilbert's Sunday. Miss Marjorie Gilbert spent Sat urday night with her uncle, Mr. Lindsay Robbins, of near Broad Riv er. . and Mrs. Warden Cooley were Sunday ° f Mr ' MrS * V ° lan Coole y Mr. Hudson Cooley spent Satur day night with Mr . Berrie Owens Mr. Ed McSwain and children, were visitors at Mr. W. Powell, Sun day afternoon. Mr. and Mrs J. Powell, of near Caffney, spent Saturday and' Sun day with Mr. and Mrs. W. Powell. POLITICAL BUNK. • Chairman Legge of the Federal arm Board, boiling over because the -ailure of his board has been com ! niented on, says: "Farmers as a class are doing a lot of thinking for themselves these days, and many of them seem to be aware tha* their present unhappy condition is a result of long years of unregulated production while they listened to gigantic schemes that high-powered statesmen have had to offer, rather than of any action of this board. Present and future orations, ' written by the Democratic National Committee and fathered by various crators, to broadcast the alleged failures of the Farm Board, are only . more of the same kind of political bunk by virtue of which the farmer arrived at his present position." ; ' Political bunk" are apt words here. It was political Punk that | promised farm relief by way of the j Federal Farm Board.—Louisville j Courier-Journal. I THE LOWEST PRICES AT jjlpj WHICH GOODYEAR EVER Hjjlf OFFERED HEAVY DUTY TIRES ! SEE THIS LATEST GOODYEAR PATHFINDER i A big, broad-shouldered, thick-treaded Goodyear with 6 plies of a stnrrU i - shock-absorbing Snpcrtwist Cord (Goodyear patent) to withstand blows on the road. Yes, sir! Full oversize and a handsLT looker T, f * the I 0F th f, supcr , Ta ' ues Goodyear can offer because of enioyinr »« JrwWi largest tire sales. It's a BUY J enjoy mc 30x4.50 30x3% $4.95 10 Ply Truck Tires Jg 29x4.40* $5.55 32x6 $34.10 [Tillies also low priced fhone us—We come on the run Cliffside Motor Co. Cliffside, N. C. BACK TO SCHOOL - WITH ALL THF NEWER STYLES SUITS WITH 2 PAIR TROUSERS $19,50 $25.00 $29.50 For the coming Fall school season we are featuring student suits especially designed for the younger set who not only desire smart patterns and style but also perfect fit. These suits are flawless in design. They embody style that heretofore was lacking in suits for school and college men. The favored patterns are Grey and Tan Tweeds —Blue Cheviots—Grey Cheviots —Grey Diagonlas and Browns. A PERFECT FIT ASSURED C • t Greenewald's Inc. "The Style Center of the Piedmont." Spartanburg, S. C. Read The CoUVICY Want Aik
Forest City Courier (Forest City, N.C.)
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Aug. 28, 1930, edition 1
18
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