Increase by Hackensack Company Authorized
The Hackensack Water Company has been authorized by the board of public utility commission to increase its surcharge from 17.5 to 27 per cent, in order to earn a 7 per cent, return from its capital. Because of mounting costs of operation the company requested approval of a total surcharge of 35 per cent., claiming at the same time to be entitled to a return of 8 per cent, on its investment. The company sought rates sufficiently high to enable it to recoup its losses below a 7 per cent, return. The board pointed out that since 1914 taxes had increased 400 per cent. Taxes in 1920 were approximately $400,000, compared with $96,606 in 1914. Out of every dollar collected by the company during the first half of this year 23 cents was paid out in taxes.