Show TO P 01 CO the closing down of mines and other 11 justnes together with low prices for livestock and farm prod nets caused a serious decrease in th use of electricity throughout the tel luride territory resulting in 1931 being one of the worst years in the history of the company as earnings earning from ahe business were practically wiped out the expenses of the company composed chiefly of taxes bond interest and wages change but little reh regardless ardless of whether times are good or bad this condition is fil ti 1 ly understood by our employees who are striving to reduce expenses to a minimum in every department early in february while our di rectors were in session endeavoring to adjust the affairs of the company to the emergency of the times they were astonished and grat fied by receiving a statement signed by all employees volunteering to ac capt a ten per cent salary reduction until improved conditions would jus tiby a return to former salaries gainly no more generous or loyal act ion was ever taken under like cir CL instances Peal realizing izing fully that this help was proffered by our men and women solely to assist the company through a difficult period but knowing also that the present burden of financial depression rests as heavily on most mot of our patrons as it does upon the company our directors voted to cut the appropriation for salaries of gen eral officers by twenty per cent and add to accept the generous offer of our employees which together were es timatea at an annual saving of 7 also to take as much more from the scant earnings of the stock holders and through reduced rates for metered lighting service give the entire benefit of this full amount to our customers taking our chances WB h them as to what business im ini provement pro the future may bring to this end lower rates tor for metered lighting were filed with the public utilities commission of utah an in february effective march 1st over halt half of this saving applies di dl erectly to all metered lighting custo mers iners and the remainder is available to all who desire to arrange with us tor for this service during a reasonable term the saving to our patrons through these rate reductions will be approximately 14 per year full information regarding the new rates a nay ay be had at any of the corn com pany s of if ces in our struggle back to normalcy tout out of these hard times we all might follow with advantage the example of the old couple who vowed to each other that hereafter they would live within tl air income even if they had to to do so yours for betterment telluride power company |