From a report submitted by the Treasurer and Controller, it was with the riy" net pre:
ber the acees ints for the year 1998 revealed a material Improvement after allowing. for amounts written, eff for losses on appliances and meters ne to hostilities, additional provision for depreciation. ete, Dtrposes will show an the previous estimates and it has the Zero been considered necessary to provide for the caronizatin of sri increased quantity of coal in order to wa able the required Volume of iis to oe produced. Certain other costs bad also required Having regard to all the eircumstenees, it was considered. that the [P position disclosed did not justify she Increase in the surcharge applied for, and it Was recommended that the existing sarcharze be contin aate the matte Net Profils: Red also the. sonable increase inde The vet profits earned years and expressed as the capital invested in the business were considerably less than the figure to which the Company: was entitled, tinder the franchise, especially in 1987 nel 1938, Having regard also to the that he Company Ger upon period of renconal de-ise Poutpatt continuance, fr the fine ein te exiting sur char mit review, was recommended Te was pointed out hat, although tne Company: hat en entitled since Décanber toa surcharge of 3124 per Cone mer te formule preferred to" ity entes.ay sable of possible haiti eeiéed to ave the ara MA formulae were teotetiesl Siu neqivred ectal testing to. prove thie toumaness. "Phe important point {or comsration eax not me amount die oncees oF Geftt produced BY ind usually evidenced following the mer months,
Text read from the printed page and cleaned; old type leaves the occasional error.