leading Edison compani
 

as for calculating
 

the 16 c. p.
 

eq
 

uivalent,
 

i. e., IO per standard arc
 

lamp and 15 per
 

horse-power :
 


 


 

1898.
 

1897.
 


 


 


 

Dec. 31.
 

Dec. 31.
 


 

Increase.
 

No. customers.
 

9,990
 

8,7n
 


 

1,279
 

No. inc. lamps,
 

443.074
 

382,291
 


 

60,783
 

No. arc lights,
 

7,353
 

7,201
 


 

152
 

No. motors, h. p.,
 

24,438
 

19,380
 


 

5,058
 

Total equiv., i6 c. p.,   .
 

891,614
 

756,438
 


 

135,176
 

Adding supplementary service, or emergency connections with
isolated plants, the installation figures on all services combined,
give a grand total of 984,810 16 c. p. lamp equivalent.

Two annex stations, on Elm Street near Spring Street and on
83rd Street east of Park Avenue, have been added to the Com¬
pany's buildings during the year past, and the installation of
improved machinery at the main stations has greatly increased
the facilities and bettered the economies of the Company.

The underground system has been extended as far west as
Hudson Street, from Canal to f4th Streets, and as far north as
95th Street, on the east side of Central Park.

The reduction of rates has continued, and on October 15th, a
new system of rates was put in general operation, experimentally,
making much lower prices for the consumption of current after
the first hour's average use of a customer's installation. It is
gratifying to note that the revenue of the Company has con¬
tinued to increase subsequently to each rate reduction, so that
this policy on the part of your Directors has been thoroughly
justified.

The Balance Sheet and Statement of Income Account are
appended. Depreciation charges have, as heretofore, been
carried in the monthly expenses.

Attention is called to the report of the First Vice-President,
presented herewith.

By order of the Board of Directors,

SPENCER   TRASK,

President.