New York, Jan. 21,  1897.

To the Shareholders of

THE EDISON ELECTRIC ILLUMINATING COMPANY OF NEW YORK.

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

During the year, the high tension companies whose stock and
securities, with the sole exception of ^32,000 Manhattan bonds,
have now been acquired by your Company, their cost being in¬
cluded within its capitalization, have been brought into close
working relation with your Company, and the combined results
are therefore given for the year ending December 31st, 1896, in
comparison with like figures for the previous year, as closely as
they can be arranged for comparison :

1896.                           1895.

Gross Station earnings,        ,    ^2,222,737.06                ^2,000,855.93

General and tecliuical expense,

including taxes,        .        .          311,858.77"^                         ^   ,    0

Station operating expense,        .    840,850.21)                  '     ^'   ^^'

Depreciation cliarge.s, .        .         127,830,00                     100,000.00
 

Total expenses,    .        .        .       1,280,518.98                  1,213,654.28
 

Net Station earnings,       .              942,218.08                    785,201.65

Earnings from other sources,          24.162.05                      30,557.09

Total net income, .                .      ^966,380.13                  $815,758.74

Deducting from $966,380.13, the amount of interest paid on
auxiliary companies' bonds held outside the Edison Company,
$2,800, and accounts of these companies written off, $3,423.19,
the net income available for your Company is $960,156.94.

The figures for the Edison system alone are appended, for
comparison with the figures given in last year's report :