Twenty Five Years of Regulated Monopoly Electronic Resource Another Chapter
Twenty Five Years of Regulated Monopoly Electronic Resource Another Chapter
George Weston Anderson
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Harvey S. Chase, hung upon the wall, from which it appears that that ingenious gentleman has figured out that the capital stock plus profits which ought to have been taken out, and were not, was. 18 on July 1, 1910, not $75, 000, but $578, 067. By the same in- genious method Mr. Chase has figured that on June 30, 1887, when the books of this Company, directed only by the inferior intelligence of hard-headed citizens of Haverhill, showed $91, - 878. 07, it really ought to have had assets on its ...books of $255, - 857. It is true that in order to reach these interesting and amazing results. Mr. Chase has guessed two basic things : First, he guesses what part of the charged operating expenses, from 1859 down, were really not operating expenses but construction charges, and changes the book-keeping according to his guess. Second, he guesses that a proper depreciation charge from 1859 down was 6. 6 cents per thousand feet of gas. In passing. I note that this figure of 6. 6 cents per thousand as applied to a small gas company in the crude days of the '60s and '70s is 20% less than the 8% cents per thousand which the present management would charge present consumers as neces- sary to keep up this large rehabilitated company now selling about 250, 000, 000 feet a year, indeed, Mr.
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