Value of Ann Arbor Waterworks.
Prof. Gardner S. Williams, the expert employed by the city of Ann Arbor, Mich., to make a report on the waterworks plant presents some interesting figures in an exhaustive report which he has given to the mayor and the city council. In his opening announcement Mr. Williams states that he finds the value of the plant, business and franchise of the water company to be worth $600,000. He also presents an estimate of the cost of reproducing the physical property of the company, including stores, tools and supplies on hand to be $531,934.
“In accordance with an agreement entered into on July 14, 1911, with Alderman Manwaring, representing your waterworks committee, I have the honor to submit herewith, a report showing the estimatd value of the plant, business and franchise of the Ann Arbor water company on December 31, 1911, exclusive of values due to anticipated growth, cash on hand and in banks, and bills receivable, and assuming the sum of indebtedness paid, to be not less than $600,000. I find the cost of reproduction of the physical property of the Ann Arbor Water company, new as of December 31, 1911, including stores, tools and supplies or. hand, but exclusive of cash on hand and in banks, and bills receivable, to be $531,934; the present value of the physical property of the Ann Arbor Water company based on the cost of reproduction less depreciation to be $504,873; the cost of developing the going concern to have been not less than $34,879, which, added to the value by reproduction less depreciation, gives a present value of the physical properties exclusive of earnings. of not less than $539,752; the cost of the physical plant as shown by the vouchers and annual reports of the company to be $538,517; the value of the physical plant as shown by the books of the company to be $529,528.86; the value of the plant, business and franchise of the Ann Arbor Water company, based on the earning of the fiscal year, ending March 31. 1911, to he $555,590; the value of the plant, business and franchise of the Ann Arbor Water company based on the earnings for the calendar year 1911, to be $676,,217. These findings are presented in detail in the accompanying report.”
There were but six fires in Paxton, Ill., during the year 1911. The amount of property destroyed was $2,308.
The fire department of Thibodaux, La., responded to eight alarms during the year 1911; fire loss, $5,242. Charles A. Revere has been elected chief of the department for 1912.