The Company continued its efforts throughout the year to secure addi-anal business in all classes of ser vice and in spite of the adverse bust hess conditions a considerable amount new business was connected to the system of Shanghai Power Company Jas well as to that of Western Dis-Wilet Power Company of Shanghai. Federal Tne, US.A. As a result of these efforts, and notwithstanding the fect that building activity was at a flow rate during the greater part of the year, a total of 3,393 additional customers were connected to the spstemg of these companies. At the close of 1935, a. total of £9,607 customers was' served by the two companies as compared with 80.214 served by the properties at the close of 1934. "A total of 51,730 candle power of roadway lighting was added and consisted of the installation vf 179 private lamps and 323° public lamps. In" the residential" ser= vice humorous cooking,—refrigera-lon and other electrical energy jeonsuming devices were con nected. During 1935 more refrigera-ion units were added than in any previous year. Singeing machines were introduced to the cotton mill Industry and. several successful inslallations were connected during the year. In the commercial lighting section many of the customers' light ing installations were modernized, re-[sulting In. Increased. business, Total generating station output in 1935 was 769,906,000 kilowatt-hours, slight decrease from the previous year. This decrease was caused by Industries Mnding it necessary to cur-tall the volume of industrial activities which In turn redueed power require: ments. While a considerable amount of new business and new uses of electricity were added during the year, the additional business was not SuMcfent to offset the reduction of by large industries.
Western District Power Hgts scenes 04m0U.39 pamed Surplus, December Dividend und Reserves ye dividends on the Company's Silver Preferred Stock have been regularly paid quarterly from date of fgsuanee, Dividends on the US$7 Cumulative Second Preferred Stock of the Company have been paid in full fo December 31, 1935.
During 1995 guMicient funds were available from the Company's corn ings to provide for necessary exten sion and Improvements so that new Ananeing was not required, The balance sheet shows that the Company had reserves amounting to! $7;848,80064, which is an Increwse of '$1,712226.11' over the total reserves a8 fof December 31, 1934, These reserves fare composed of the following: Pro perty retirement reserve $6,070.490.24; reserve for uncollectible accounts '$131,35248; inventory adjustment reserve $88,794.02; cusuully and insure tunca reserve $560,000; pension reserve $100,000, Earned surplus of the Com= pany at the close of the year 1935 $4 mounted 10 $9,400,618.95.
Text read from the printed page and cleaned; old type leaves the occasional error.