Louisville Water Report

In the annual report for 1915 of W. O. Head, president of the Louisville (Ky.) Water Company to the Board of Water Works, a new river station to cost approximately $535,000 and other improvements are included in the estimates of $647,000 for improvements for this year. The report says in part as follows: During the year 6.7 miles of pipe mains have been laid and 37.1 miles of pipe mains have been cleaned. In addition to this work the Crescent Hill reservoir, north and south basins, have been cleaned, removing 31,617 cubic yards of mud, at a cost of $3,361.05, thus increasing the storage capacity of these reservoirs. The estimated cost was $6,000. There has been expended on the new 48-inch pump main from the river to Crescent Hill reservoir the sum of $96,523.26. The construction of this main is intended to increase the efficiency of the centrifugal pump, a reserve unit, and provide an additional conduit for the proposed new pumping station. Looking to the future demands of the business of the company and maintaining a high standard of efficiency, the chief engineer and superintendent has submitted for the ensuing year the following proposed improvements. This estimate includes the unfinished work on last year’s estimates and the new work contemplated for the present year. The estimated unfinished work and proposed improvements are as follow’s: One new 36-inch distributing main, C. H. reservoir to Bardstown road, $100,000; new river station with one 30,000,000-gallon pump, $535,000; wash-water pump, Crescent Hill filters, $10,000; painting and repairing river pumping station No. 1, $2,000; total estimated cost of improvements, $647,000. All proposed improvements to be paid for out of the net earnings of the company. The gross business for the year 1915 from water rents and sales of water by meter measurement, as indicated by the billing, $994,581.79, compared with 1914, $1,021,593.19, shows a decrease of $27,011.40. This decrease is largely due to the reduction of sales of water by meter measurement, which represents the large consumers of the company. From June to September, on account of the heavy rainfalls, which produced a wet season, a falling off of the pumpage of water amounted to 1,104,899,734 gallons. The discount of 33 1/3 per cent, on all water bills and refunds for the year 1915, made to consumers, amounted to $327,700.04. A synopsis of the financial condition of the company is as follow’s: Cash income for 1915, $685,277.41; operating expenses. $226,884.59; interest charges, $61,152.24; total operating expenses and interest charges, $288,036.83; net earnings for 1915, $398,240.58; adjustment account, credit, $2,138.60; total net earnings and adjustment account, $400,379.18. A comparison of the income, expenses, net earnings and adjustment account for the year 1915 with the year 1914 produces the following results: The income increased $2,790.42; operating expenses decreased $11,115.08; interest charges increased $64.87; adjustment charge decreased $12.27; total all expenses decreased $11,062.48; net earnings increased $13,852.90; adjustment account credit increased $2,138.60; total net earnings and adjustment account increased $15,991.50. The disposition of the net earnings is accounted for by the assets being increased in 1915 over 1914, $410,657.32. Of this amount there was expended as follows: On centrifugal pump No. 1, $4,895; on survey for proposed new pumping station, No. 3, $445.50; on pipe system (new mains, services and meters), $147,773.65; on miscellaneous equipment, $10,235.50; on sinking fund (bond issues of 1906 and 1910), $24,052.62; cash, real estate and buildings, and investments, $223,255.05. The liabilities of the company increased in 1915 over 1914, $17,534.36. This increase is in the accounts payable to various parties and meter deposits. These results should be very gratifying, both to the board of water works and the citizens of Louisville.