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Show THE o SEARCHLIGHT Professional Plournine~ (Continued from preceding the interest rates shown even The figures may be verified from the Company’s books, from its financial statements, or from the records in the rate case, which are public documents, and statements to the Securities & Exchange Commission. The figures are available to the public. There is no execuse for any mourner to remain uninformed. Mr. Gadsby always knew the score. Interest Interest on on CAPITAL mortgage debenture PREFERRED Ne CHARGES bonds—new . .$1,702,500 bonds—same . 300,000 STOCK ss io DIVIDENDS— ea ae vee et es 251,526 PREFERRED STOCK DIVIDENDS— Wee ore ee ee se we ee 3 8 Total capital (Utah, requirements Traction, 1,453,235 .......... $3,707,261 Idaho, Wyo., out the margin of more 000. But on the other side should be noted that excess page) current dividend, is whether the rate cut left (or would leave) sufficient margin to take eare of all capital requirements. We submit the following tables to show that not only were there ample earnings to pay the dividend, but that there was a substantial margin left over after making allowance for the dividend. TOTAL wipe on bond issues—may & were $817,722 greater than than $300,- of the picture it earnings in 1942 in 1941, which should allow for every contingency several times over. In 1943 the excess earnings over a reasonable return will be more than a million dollars—after a deduction of $1,504,644 ordered in the rate cut. Therefore, there were sufficient earnings in 1941, 1942, and also in 1943 to meet every capital requirement, absorb a rate cut of $1,504,644, and still leave a wide margin for all possible contingencies and for reserve purposes against post-war rehabilitation. Consequentlv, there is no justification for failure to meet the current dividend. With the shattering of that alibi of the Power Company, we now await a new and more reasonable excuse. And we point out that be no dies there should unless somebody mourning. Mourning as a method of propagvanda is ghastly. In the meantime we are certain the preferred stockholders would be willing to swap the sympathy of the bankers and the Kuilowatt Nobility for a belated dividend that Mr. Gadsby is amply able to pay. Colo.) Fair return (6%) property 6% used interest on investment in Utah business Ties ee Capital erty sum the PE figures Commission’s designated 854,970—is the ak vane . 495,000 capital used in applicable to Utah patrons ag (The above in eS charges serving RS . .$3,854,970 on depreciation reserve Utah return available for charges against property ae $3,359,970 prop...... $3,038,470 areiienis Shee tie in with Report and $ those Order. 321,500 set out The as a fair return for 1942—$3,figure arrived objected by at by the Com- mission.) It may be pany that new the financing may Wage Increases in Power Com- alter somewhat A joint labor-management application for an average wage increase of approximately 4e¢ an hour has been approved by the Regional War Labor Board at Denver for 43 employees of the Griffin Wheel Company of Salt Lake City. Earlier in the month employees of Utah Light & Traction Company were awarded an inerease of 10c an hour for 382 employees on joint application of the Company and the employees. Accordingly the pay of bus drivers of the Traction Company is increased to a. maximum of 87c an hour. That extra dime should reconcile Traction bus drivers to the necessity vision of having to work of Jed Woolley. under the super- |