Newspapers / The News-Journal (Raeford, N.C.) / Aug. 6, 1942, edition 1 / Page 2
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'.:‘'-f v''.- ^ . ’■„ ■• ■ ' .. --v- ■’;•'•■'• '. • ' ' *• iiiHriiifMliii BeUeving that you as a customer, as well os those who hove a finjmdal interest in thU Com^y. ^e tatei^ted^^^^^ its progress, the Carolina Power & Ught Company presents a brief summary of its Annual Report to stockholders tor me year i ^ It was a busy year id all. and especially for those companies whose facilities Electrical Industry naturally had a big job to do as demands for electric power weiit up shmlf to provide for faster q without dS^ In tSrcaVofX Carolina Po^r & Light Company every important new demcmd made upon it for power delay and without disrupting the usual flow of electricity to of**9 ^^B^n^^dustoiSers At the end of the year addition to such abnormal demands a normal growth was experienced by the addition of 9.678 new customers. At me ena oi me ye« the Company served 128,948 customers of all classes. , ^ . «on nnn i. To provide for still further demands for power the Company has under construction a generating plant with a capacity of 80.0 orse- power. Facts concerning this project as well as other matters of interest generally are presented below. 80,000 MORE HORSEPOWER FOR VICTORY During the latter part of 1940, the Company l>egan the installation of additional generating capacity at ite Cope Fear steam-driven power plant near Moncure, N. C. Two units ore being installed which hove a rating of about 40,000 horsepower each, or 80,000 horsepower in all. Based on the amount of electricity used during 1941, these units, running 24 hours q day, can produce^ FOUR times as much electrimty as is normcdly re quired by our household customers. During 1941 ;q total of 148 mites' of .high-voltage transmission lines Was completed. In Iforth CaroliiM lines were, built ftom -Selsaa to Goldsboro. Gk>ldsboro ta Vf^bmn.. from the Ccqpe Fear-generating plant to Erwin. In South Ccnollna lines wMe built from Hartsville to Chesterfield and tram Florence to Greeleyvillei Late in |he fear another line was started (since completed) from Ggl.dsboro-' (e lA Grange, North Corolh^ to intercon- mect with the Tide Water Power Cmq- ptmf in order to furnish thmidnniKBT Wtdi more'^imwer to be usMjad urn ik^yfards and military denfersT AIDS IN SPEEDING WAR PRODUCTION The Notional War Production Program brought about i^ony new demands for the Company's el^ric service during 1941. The Company's policy of providing power facilities in ad-' vance for the growing ^eqiurements of its customers enabled it not only to supply increased demands from its own customers but. in adifition, to - supply a large amount of power to war industries not located in its ter- ■ ritory. Through its transmission lines and interconnections,' the Company delivered during the year, from its own generating plants and from ^ the surplus generating facilities of neigh boring companies, in excess of 400,- 000,000 kilowatt hours to war indus tries rtnd companies located outside of the Company's territory and not usually served by this Company. The greater portion of this power went to &e system of the Tennessee Vouley Authority and to the Carolina Alum inum Company at Bodin. North Cai^ lina. Some of it was sent to the* Georgia Power Company during the drought Ittst Fell. • V',' t J* . In the Company's own tertitory'Ore'^ located . Fort Bi^. North Carina, the War Department's largest indi vidual Amy post, and Anqy oviot^ r training centers at ^ Florence^.cM; SunrMr# South - Carolina. ' Another technical trcdolng school for ^^ertdrs is beteg built near Golduboro. The Company also funishes Tide Water Power Company with a large pwtiqo of its power requirements for distrit hution to sUpyeads and a nuniber .^ n^itary tndning centers. A large number of the Company's ihdustcidA ' gustMsers ore producing material in the 'damOy>nt program. ★ ★ ★ .f i ■ -If# PAY ROLL AMOUNTED TO $2,500,000 In addition to substantial amoimts spent lost year in each of the com munities served for rent, taxes, divi dends, and miscellaneous supplies, the company's pay roll of $2,501,570 was distributed among opproximerte- ly 1,600 employees who live iii them communities where it was again dis tributed through normal channels for living expenses. At the time the An nual Report was compiled, 176 em ployees hod reported for active duty with our corned forces. Today, mote hove been added to the list. ffse •££l»cirksity UUP ^ 1187o $3,123,698 TAX BILL HELPS GOVERNMENT The provision made by the Company for all 1941 taxes omounted to $3.- 123,698 which represented approxi mately 50 per cent more than oper ating pay rolls and 60 per cent great er than' total dividends paid.. Apply ing the figure a little differently it amounted to $1,958 pet overage em ployee — $26 per average customer served — or $8558 for every day of the year. Of the total amount, $2,- 999,429 was charged directly to elec tric and motor ^ch operations and $124,260 was charged to construction and other accounts. The Company, like every patriotic American citiseh, is glad to contrib ute its share of increased taxes as long os the scdety'of our country re quires it. But huge tax collections should not’be squandered on non- war projects. Secretary of the Treas ury Morgenthoni warned the notion of this when he pointed out to the House Wot:^ and Meons Committee in March Os a “pressing duty... Ibe need for severe economy in the dpw- (ri^ns, of Federal, State ond local gomnunents." Continuing he sold: ’ T^iejniU-hto purposes of our ,^d savings progonn’ will be dfhMrti^ iLot the some time. Federal, Stole ond loc^ govenunents indulge imteessc^ eipenditures.'' " ■ ★’ ★ '★ STE^ DROP m PRiCS OP SLECTRICITV POR I AVSRME HOUSIHOLD CUSTOMERS TM mtionotovtragt poid for houMhold tIccmcHy in 1941 wof 31 por ctnf more than wos poid by household customers of this company. 96% OF MERCHAN DISE saLes made BY DEALERS FI tCTRiCAt IF;, It wos tote reductions osd forger use of service thgt gove our household cu|, tamers in 1941 the benefit of more than twice os much electricity os in 1^1 for LESS money. umm3% CAROLINA POWER & LIGHT COMPANY DIRECTORS L. V. SOnON, PresUsnt ahd Qcnersl Ifsiisser. RaleiEb, N. CT W. B. WBAXIinSPOON. Vies Rees., and Ocn. Couniel OFFICERS L. V. 8CTION. Frestdent snd Gen. Rgr. 0. 8. WALTERS. Vice President. 8. P. VBCKIR Vice President The Dealer - Company Cooperative Program continued through its sixth year with the Dealers accounting for 96% of the electrical merchandise sales volume throughout the territory. Soles activities were necessarily cur tailed durinsf the latter part of the year as shortoges in critical war ma terial developed. Emphasis was thmi placed on "mcdcing present eqidp- ment lost. ★ ★ ★ ib3Sp..jv EACH $1 WE RECEIVED WENT OUT LIKE THIS -Intere^ on Bonds and Other D^nctipna. ^ (Wage* on moaejr pul to wotk in tbs buiiom!) 8* PKferied Stock' Divtdoids (WifSi sa rnsnsp pn i» work in ihs kniaois)i 4* Conunon Stptk DividTOda (W«|si m msaiy pot lo aoik >i tW hoSnib BrianoetoSiuj^ B. B. CABPENTEB, Asst Sec. and Asst Treaa. r
The News-Journal (Raeford, N.C.)
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Aug. 6, 1942, edition 1
2
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