The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, February 17, 1908, Image 3

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The San Francisco call. [volume], February 17, 1908, Page 3, Image 3
About The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913

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The San Francisco call. [volume] (San Francisco [Calif.]), 17 Feb. 1908. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn85066387/1908-02-17/ed-1/seq-3/>

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SAN FRANCISCO GAS AND
REVIEW OF EVIDENCE BEFORE BOARD OF SUPERViSORS
IN SUPPORT OF CLAIM FOR A RATE FOR GAS OF ONE DOLLAR PER THOUSAND
Send Out Total sent out for year 1907 2,528,767,400 cv. ft. . This rate of $1.18, which should be allowed, is based
Receipts ud Gross receipts- as per statement filed in 1907 •' .". . ' - a F tualt c ?^ Xt & X interest, reasonable dc- \u25a0 .
Exoeases from eas sales . $2065,171.53 \u0084 preciation and known added costs tor the com-
Less Bond .....'.... $291,582 ' , : ; . lonQ7in - 0 Therefore-.a rate rof^sLOOjperr of^$LOOjper thousand would not
Sinking Fund .......... ....... v .90,350; $381,932 $1,909,740.39 give a revenue in excess of expenses', and at the
That is to say, the Gross- Receipts for the sale of gas / : : at aii actual loss,;even- upon the assumption of
distribution ;^".'=: ? ? ' " Increased Assuming that the Jsales for 1908-1909 would show
'::\u25a0< This. amount, $155,431.14, which is 7 per cent on Sales ' an increaie'of 12^4 per cent over 1907^1908, the
; sale^ would then amount to .... ... .-;•-. ., . . .' . . 2>850,002 > 850,000 > 0(X)- cv. ft.
will be seen from the following: ' and assuming also that a rate is made of one
Valuation The value of the Gas property, is shown by the filed . \u0084.\u25a0\u25a0;:,,\u25a0•\u25a0 ' .• , c - n rrr\ on
of statement to be $17,894,173.27 H|f. dollar, the revenue would be ............. $2,800,aD0.00
Butter to S^ S u S jon r that^ • \u25a0 •\u25a0\u25a0 \u25a0 • **W>*
appraisement of the Assessor of the City and • leaving for interest and depreciation. . ....... . $600,000,(XX)
fixing the valuation of the property of the Com- or. 7 per. cent, on $8,555,555. This profit of $600,-
ipany devoted to gas manufacture and distribu- . 000 by ; , the Assessor's figures would afford no.
tion, and this valuation has been taken as the more than a. reasonable .interest on assessed
basis of this statement. The Assessor's valua- values and justifies a rate of $1.00 per thousand.
. property, . and on these bases ,value of^tHe Gas urv / . Lamps in- Place .. Gas I Electric
properties (exclusive of Electric) would be... $8,009,800-00 April 18, 1906 .................... 5462 ..._ .'SWSS?: ..; 984'
Interest -A reasonable rate of interest on this- valuation, con- . ; Feb; 1^ 190S .. ..;;....'.:..:•......:.. ...4665 : . .1795
on sidering the risks of business involved,; would . ' • .v ;r ; v : . ; . \u25a0.:-": \u25a0 \u25a0\u25a0_ :/-\ -
Investment be 10 per cent, which is a lower figure than any \u25a0 Decrease .;..:....:.......... 797 ......:.:.... : . Increase 811
merchandizing liusines-s permits itself to earn; ... ** . ,
\u25a0 but for the purposes of this review it will be as- - |§jji|| ' In cost, three gas lamps equal one electric; on that basis the City has now lighted
sumed that at least the legal rate of interest - j 535 more lamps than it had in 1906, at a less cost -by $75,000, duetto voluntary: fe-
would be reasonable, viz., 7, per cent.,. Thejm- / . duction by Company *for street lighting. .
" nual interest charge of 7 per cent on $8,009,- . . • ;. » ...
'•-- 800.00 would be ;........... ..;..... ......... $560,686.00 The Company disbursed during 1907, for: labor alone, $1,113/53.89.
Annual Depreciation should also be allowed, and this can be ; / ,-\u25a0...--. -, . '\u0084-,. . , . \u25a0• j> 1- -\u25a0 jt. j.- \u25a0 j -
Delation assumed at 5 per cent per. annum. (For argu- In the residence district where gas is used for Jightmg an
;.-.; ment on this point reference is;made-to;Exhibit . manufacturing purposes-, theaverage consumption is small, i.e.: ;
No. 5, on pages 546-7, Municipal Reports; of '\u25a0\u25a0 : "- ' •'-'" "' ' '-"\u25a0 ' •""' - ' '""' "\u25a0'"' -* ' - . — __—_ — — "' .' , — — — —
'Sam Francisco, 1904-5.) 5 per centon $7,124,- ' : ' .; Total Sales Mains SllMpcrMlle >ies per^- Aww Moßthl:r
015 is $356,200, which amount added to :the l--\ \u25a0\u25a0' :"-cSSc-Feet r , Number M?ks c°cbfe n t ?nJ M per " "^jSE""
: interest charge gives ... ..v. .^ ......... .^..- \u25a0 $916,886.00 : .^-Consumers, P «- cnbic Feet , -
This amount the Company should at least be . \u25a0 -.\u25a0- 7 '. - \u25a0'_' :\u25a0•\u25a0•,\u25a0 }'<\u25a0'' J ~./- y ["/::\u25a0 \u25a0\u25a0.'-\u25a0'.<: •<'\u25a0-
permitted to earn over and above the:;.cpst;of v *\u25a0/ Mission . .-. . 620,150,200 18,868 105 5,960,100 32,867 ; $2.32;
. amount, on vvhich depreciation is bas;ed, does Richmond/.. 377^265,000, 9,767 67; '5,630,820 38,626 2.65
Inweased the rates to be fixed are applicable for the year . Sunset ..\ .. 165,920.700* 4,497 033 5,027,900 36,895 2.53
Cost of . 1908-9rconditions during .said: period, so far. as .^* • .. -'.: : '':: - - •'\u25a0 • "- : \u25a0-''\u25a0. ' .' \u25a0" - \u25a0 ' --.. : I \u25a0 ' -\u25a0 ••
OH- known, must be considered.- Oil, which repre- * -"./,' \; ' - .V* "-* * ' ." '• '' ..
sents 33 1-3 percent of total cost of gasvrnanu- From the gas statistics of eight cities, comparing in population and area with
factured and distributed, \u25a0will advance July 1, San Francisco, the following is~ deduced:
1908, 25 cents perbarrel, making an^added cost.- . San XFrancisco.
;of^.O^*.per;tHousahd:cubic-:feet/and:dn;basi^ Average, price per thousind ......$ 090 ............$' .85
of amount delivered last year, viz., 2,528,767,400 -\u25a0: & F 1 ,-•••••_••••••••••••••••••••••••••• ? —
' cubic feet, a;further "increased cost ofproduc- Wa ? es . & as makers ' P er month 77 :°° ••.....-..../..... :::V,:: v ..:.;.llQjpp
tion of ......:... $158,058.00-:' Wages Service men per month v . ,. .*; 65.00 . — 91.00
Recapitu- Recapitulating, this may, therefore, be shown in the :" RECAPITULATED, the Company should have
sive & of Bond Interest and Sinking ' .-^ ; r BECAUSE" that :rate would yield: only a fair return on the value of the plant
Fund). . . ......... ..... .... .V. ... .$1^09,740.39.. 50.7552, per M as determined by -the Assessor for- the, purposes of taxation, and is not a rate based
Cost^^lisuSe OO d f ;^o6li^l '. '.': : plr E BECAUSE; the; losses sustained by the, Company.in the past two. year^ should
In addition to above, actual cost :; l / . not be permitted .to continue by legislation-. of present,rate.
. - should i be added: .1 < " ; BECAUSE the^ City, should protect the investments honestly made in its
D'pYiv 5 per cent on $7j124,- ;/ -BECAUSE- 611* any .reasonable-^assumption of increased sales, the profits will not
; : 015^ .... ..... :^.v.. ... . : . 356,200 / .^916,886 v y '0.3624 per, M c.7 pe j;' cent on an ; asse ssed valuation, to say nothing, of a value proportionate to a
making a total cost 0f. . .....;52 ,984,6^:35 V any merchandising business to make.
SAN FRANCISCO GAS AND ELECTRIC COMPANY
w \u25a0 \u25a0 - ' '' \u25a0 '"'\u25a0 "\u25a0\u25a0" - \u25a0 -\u25a0' " '- ' -' \u25a0In- \u25a0 \u25a0 .'' - -'"? \u25a0"\u25a0 \u25a0 \u25a0 - ; -\u25a0 -\u25a0* -'.-"\u25a0'-''\u25a0\u25a0\u25a0\u25a0 -':\u25a0\u25a0 v:. -' .\u25a0- T \u25a0-'' I U "' ' * ES I9 I I "B PVACIHOItf
- \u25a0 \u25a0\u25a0..\u25a0'." '\u25a0 "'\u25a0.' *• \u25a0'' '.''\u25a0'-\u25a0' \u25a0:""'\u25a0.? \u25a0 \u25a0 g \u25a0 '\u25a0'-r ' \u25a0" -';•'' ,'*'. [\u25a0>\u25a0•:-• \u25a0-* - " ' \u25a0"\u25a0 r ' . 1- \u25a0 M fl^R \u25a0\u25a0\u25a0. K^p \u25a0 & I I IV \u25a0 I I RT^I U lift
San Francisco, Ca 1., February 14, 1908
I'tfiS SAN ; FBANOiSCO CALL, MONDAY, rFEBBU&RY^JT;; 1908;
3

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About The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913