New York, Jan. 15, 1895.

To the Shareholders of

THE EDISON ELECTRIC ILLUMINATING COMPANY OF NEW YORK.

In presenting the figures for the past year, the Directors
have to note a continued increase in the business and prosperity
of the Company.

The results for the year ending December 31st, 1894, are :

Station earnings were..................$1)369,066  72

Operating expenses, including repairs and

renewals...........................      550,426 77
 

Net earnings of stations.................%   818,639 95

Earnings from other sources.............       32,944 18

Income received from investments........        62,325  54
 

$   913,909 <>7
Less general and legal expenses and taxes      124,443 09
 

Net earnings of Company...............%   789,466 58

Note.—Interest on -Bonds.....^207,266.67

Dividends............  476,196.00
 

3.462.67

The Company has also received Lamp
Royalties, accruing previous to 1894
(as a result of decisions in rela¬
tion to lamp suits), carried direct
to Profit and Loss for transfer to De¬
preciation Reserve Fund.............%     46,000 00

The returns of the business since 1890 have been :

GROSS.                          NET.

1890.......................%  488,595 83         . ^229,078 80

1891 .....................  675,505 43                347,228 63

1892.......................  963.021 25               475.137 6t

1893....................... 1,245,524 87                605,642 72

1S94....................... 1,464,336 44                789,466 58