FRANK P. STRATFORD
CERTIFIED PUBLIC ACCOUNTANT
Rutherfordton, N. C.
August 19, 1930.
Mr. E. C. Marshall, President,
Southern Public Utilities Company,
Charlotte, North Carolina.
, yv T— '3JT ,
Dear Sir: v ; f.
In accordance with your request, and through the courtesy
and co-operation of the officials of the Town of Forest City
in making available the data requested, I give you below the
result of computations I have made for the purpose of determ
ining 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
net sum of $15,634.00
(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 750.00
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 @ 2 V->
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 $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
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
ex t 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 2,000 KWH .03 per KWH
Over 4,000 KWH— .Q2B per KWH
Minimuni SI.OO. Discount for payment in ten days, 5 per
kills up to 100 KWH and 3 percent on bills over 100
& »\ H per month.
Power:
First 50 KWH ? .06 per KWH
150 KWH... .045 per KWH
Next 200 KWH .03 per KWH
Next 600 KWH .026 per KWH
£ext 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 013 per KWH
Next 100,000 KWH ;«&25 perKWH
Oyer 350,000 KWH ;012 per gWH
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,
rerms: Net in ten days.
C ooking, Heating, Refrigeration, etc. In consumer's home:
F irst 50 KWH $ .04 perKWH
Next 50 KWH .035 perKWH
Over 100 KWH __l .03 per KWH
Minimum: $2.00 per month. Terms: Net ten days.
THE FOREST CITY COURIER, THURSDAY, SEPTEMBER 4, 1930.
Cooking, Heating, Refrigeration, etc., in restaurants or siniilar,
establishments:
NW isn vww ? - 06 per KWHi
Next 150 KWH 045 Der jcwh .
Next 200 KWH _ no '
Next 600 KWH " 026
Next 1,000 KWH S
Rates for further consumption on file at City Hall.
Minimum „ f.r pow„, T, m; Net .«„ |
The rates now in effect by the Town at which charges are
made to users of water and electricity are as follows • '
FOR WATER: * ' ;
First x 3,000 Gallons SI.OO j
Next 3,000 Gallons .' 25 PER M. Gallons'
Next 4,000 Gallons .20 per M Gallons!
*iti i. 10 '° 00 Gallons -15 Per M Gallons I
Industrial Rate .15 per M Gallons i
Minimum: SI.OO per month. Terms: Net.
FOR ELECTRICITY:—Lighting:
Next 15 KWH ? - 10 per KWH
Next 11 vwh 07 per KWH I
i\ext 25 KWH 06 n pr fww ;
Next 85 KWH Z= .05 Iwli
Next 150 KWH .035 per*WH :
Next 200 KWH .0345 per K§H 1
Over 500 KWH at flat rate as follows*
500 to 1,000 KWH .038 per KWHI
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
I
Power: j
First 50 KWH $ .06 per KWH
Next 150 KWH...; .045 per KWH
Next 200 KWH .03 p er KWH
Next 600 KWH 026 ner 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 .0190 per KWH
No Minimum. No Discount. j
Cooking:—Flat rate of $ .03 per KWH. Minimum $2.25
per month. v
31 R 00 fr pfr r mo O nth~ Flat ° f ? - 035 P6r KWH " Minimum
Respectfully,
F. P. STRATFORD,
C. P. A.
S?TATE EXPECTS SCHOOL
ENROLLMENT OF 879,000
Raleigh, Aug. 25.—Approximate
ly 613,000 white and 266,000 negro
children, a total of 879,000 child
ren are expected to be enrolled in
the public schools of North Carolina
when the registration for the session
of 1930-31 is completed this fall, ac
cording to estimates made in the of
fice of A. T. Allen, State Superinten
dent of Public Institution, based on
the enrollment and rate of increase
for previous years.
Public schools have already opened
in many of the western counties in
order that those running only six
months may complete the term before
the Christmas holidays and before
the winter weather prevails. Most
schools in the State, however, open
their doors during the month of
September, operating one-half of the
session before Christmas.
The estimates made in the office
of the State Superintendent further
indicate that approximately 100,000
of the 879,000 will be beginners mak
ing their appearance for the first
time, and that 125,000 of the num
ber will be enrolled in the high
school grades. During 1928-29 there
were 96,739 white boys and girls
and 13,236 negro children, a total
of 109,975 enrolled in the public
high schools. The estimate for 1930-
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In Velveeta all the valuable
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\ " r - PV -''-r- •'">viCH?cse Food
31 is that there should be an in
crease of about 15,000 in the high
schools within two years.
Nearly 30,000 boys and girls will
enter high school for the first time
during the next year, since approxi
from high school last spring. The en
rollment in the elementary schools
will be approximately 500,000, or
identical that of the past few years,
since the increase in high school en
rollment practically absorbs the in
crease in the total enrollment.
THE LOWEST PRICES A T
WHICH GOODYEAR EVER OgV
OFFERED HEAVY DUTY TIRES ! |jf
SEE THIS LATEST GOODYEAR PATHFINDER MM
A big, broad-shouldered, thick-treaded Goodyear with 6 plies of a sturdy,
shock-absorbing Supertwist Cord (Goodyear patent) to withstand hard a
blows OR the road. Yes, sir! Full oversize and a handsome looker. Lat
est example of the super values Goodyear can offer because of enjoying
the y©r!J'» largest tire sales. It's a BUY: 30x4 50
30x31/2 s4 9S 10 Ply Truck Tires $6.35
29x4.40 $5.55
32x6 $34.10
IHHR
Tubes also low priced
Phone us —We come on the run
Cliffside Motor Co.
Cliffside, N. C.
[DARKNESS CLOSES
! DECIDING GAME OF
SEMI-PRO SERIES
i Cross Mill And Forest City
j Battle 14 Innings To
Deadlock.
j . .
j Central High Park, Spindale, Sept. |
1 • Darkness put an end to one of,
j the most thrilling ball games ever'
1 played in Spindale here Saturday
! with Cross Mill and Forest City dead
j locked at eight-all at the end of the
j 14th inning. This was the fifth and
j was to have been the deciding game
lof a five game series to determine
the championship of Western North
Carolina semi-pro ball. Both teams
entered the game Saturday with two
j victories and two losses to their
f credit.
i
| Both pitchers, I-owler, Tor Forest
; City, and Jones for Cross Mill hurl
ed great ball at times, Fowler hav
ing three bad innings, and Jones two.
| Each was touched for 13 hits, while
Fowler whiffed 17 to 13 by Jones.
Cross Mill went into the lead in
j . e rs t> lost it in the second, and
tied it in the eighth on pinch hitter
Brannon's single. Each team scored
three in the 10th, Forest City
getting theirs on Ingle's long home
runs with two aboard. Cross Mill got
| theirs on four bunched hits and a
base on balls.
I Cross and Hawn, opposing second
basemen, came up with plays that
saved the game several times, while
Heavener in center field starred for
Cross Mill, Ingle led the hitting for
Forest City with four safeties, while
ijee and R. Jones had three hits
each for Cross Mill.
Cross M. 200 010 020 300 00—8 13 4
F. City 130 000 100 300 00—8 13 4
R. Jones and C. Murray: Fowler,
and Harrill, Umphire, Hanna.
; The series opened Tuesday, of last
j week, with Forest City playing at
Marion. The first game resulted in
a score of 10 to 1 in favor of Mar
! ion. Forest City won the second
game Wednesday at Forest City.
Pasting the offerings of Berry and
Norton to all corners of the lot, For
est City took Thursday's game, play
ed here, by a score of 7-2. On Thurs
day Berry, starting pitcher for the
visitors, was touched for eight hits
and six runs before he gave way to
Norton in the fifth. Norton pitched
creditable ball, only allowing one run
and four hits in the four innings he
pitched.
McKeithan with four hits led the
attack of the locals, while Harrill,
and Branch followed with two eiach.
Friday hit his second circuit smash
in two days, in the second inning.
Andy Ferguson, starting moundsman
for Forest City pitched nicely for
the first four innings but found
trouble locating the plate in the fifth
and retired in favor of Collins, who
allowed only five hits for the remain
der of the game. Heavener was the
only visitor to secure more than one
hit, he having two hits in addition
SECTION TWO—]
to two spectacular catches in center
neld.
Friday's game was won by Mar
ion, giving each of the contending
TX - * W ° w * ns wo losses.
ith the teams tied, much inter
est was shown in the outcome. Two
thousand or more people flocked to
the Central High baseball field Sat
urday afternoon to witness the fifth
game. After a hectic fourteen inning
game the game was called on ac
count of darkness.
To date no arrangements have
been made to play off the tie.
M'DOWELL'S TAX RATE GOES UF?
The tax rate of McDowell county
for this year will be $1.35 as com
pared to $1.24 last year. The 11c
increase is due to a decrease in tha
property valuation, costs of strikes
to the county in trials, etc., improv
ed roads, schools and other im
provements, it is reported.
Best made country crocisery ware
in this section. Farmers Hardware Co.
Maybe if the Congressmen can't
relieve the farmers the farmers will
be able to relieve the Congressmen.
.a.
Makes life
C 3 i
Children's stomachs sour, and need aU
anti-acid. Keep their systems FWeet with
Phillips Milk of Magnesia!
When tongue or breath tells of acid
condition, —correct it with a spoonful of
Phillips. Most men and women hav«
been comforted by this universal sw«»efc
ener—more mothers should invoke its
aid for their children. It is a pleasant
thing to take, yet neutralizes more acid
than the harsher things too often em
ployed for the purpose. No household
should be without it.
Phillips is the genuine, prescription*!
product physicians endorse for general
use; the name is important. "Milk of
Magneaia" has been tne U. S. registered
trade mark of the Charles H. Phillip®
Chemical 00. and its predecessor Charles
H. Phillips since 1875.
PHILLIPS
Milk
of Magnesia •
PAGE FIVE