17

siderable detail, so that its work may be prosecuted with
more efficiency and profit, while these other divisions are
placed where they more properly belong.

Other Divisions.

Two important changes have been made in the ad¬
ministration of the Company, by taking the control of
canvassers from the Wiring Department and developing
a more thorough and effective system of canvassing
under the charge of a General Canvassing Agent.
Under his direction very successful work has been done
in this field and it is only to be regretted that such a de¬
partment was not organized early in the year instead of
during the Fall.

An Inspection Division has also been made, separate
from the Wiring Department, under the direct control
of the General Office, and it is already accomplishing ex¬
cellent work in preventing as well as in remedying com¬
plaints from customers and in keeping thorough over¬
sight of the isolated plants and house installations of
this Company. The necessity of both these changes was
proved by the experience of the Company in the early
part of the year.

It is important, in conclusion, to note the fact that the
earnings of the past year have been based chiefly upon the
use of the old capital of the Company, and that in fact the
capital actually utilized in industrial production is still but
a moderate proportion of the total investment, the in¬
vestment both in station buildings and in underground
construction being far beyond its utilization at the pres¬
ent moment. This has been the result of a confidence
which the development of business with each new year
fully justifies, and as the business grows with the grow¬
ing confidence of the public in the safety, stability,
healthfulness and economy of the Edison system, it is
safe to predict for the Edison Electric Illuminating
Company of New York an industrial future and a com¬
mercial return far be3'ond the indications even of its
present success.

Respectfully submitted,

R. R.  Bowker,

First Vice-President.