the policy of maintaining the Com. pany's physical, property in good operating condition was continued. During the year expenditures for maintenance and repairs amounting approximately $1,264,700 were made, und, in addition, the Company appropriated $1,500,000 from current earnings for the property retirement reserve, which, after providing for property retirements during the year, increased the balance in the serve 10
Improvements and additions to the property to meet the new and me creased business of the Company required the expenditure of approximately $782,400 during the year.
While no'single large item of construction was necessary, u large mums ber of extensions and enlargements were made during the year to the transmission and distribution systems for the purpose of serving new For some time prior to January 4. 1935. the Company had experienced difficulties in maintaining and extend. ing its service to take care of the increasing demands for electrical supply in the territory south of the Soochow Creek and west of the Me ternational Settlement, described as Western Extra-Seltiement Toad District. A new company, West Join District Power Company 'Shanghai, Federal Inc, USA... was, therefore, formed to serve that territory, under a franchise granted to the company on January 4, 1995, by the City" Government of' Greater Shanghai upon the authorization of the National Government of China, and the Shanghai Municipal Council released tke Shanghai Company from ils franchise obligations in such terri+
Power Company' of January 4, 1095, for for which Shanghai aeeepled a five year note of the new company, Chinese Interest purchased at par. 15000 shares of 7
Text read from the printed page and cleaned; old type leaves the occasional error.