16
MODERN GASWORKS PRACTICE
for work which has been carried out in the past which are interesting from a Statistical point of view. This point is mentioned owing to the faet that as materials and labour have withm the last few years appreciated by some 250 per cent, it would be impossible to erect an entirely new works for an outlay calculated on the figures given above.
Capital expenditure, based on output, should with proper management de-crease as years go on, chiefly owing to the taking up of inereased business with existmg plant, or by only slight additional expense for considerably augmented consumption. _ Here again, th.ough, it must be remembered that additional Capital expenditure will at the present day go only a third as far as it did a few years ago. It must, however, be borne in mind that Capital expenditure is usually the very erux of a company’s condition, so that additional plant should, whenever possible, be paid for out of revenue. In nine cases out of ten the Capital charge to be met was, in the past, the heaviest item (proportionally) in the revenue account; and, although prevailmg conditions have, somewhat altered this, there is still every need to curtail the Capital employed as far as possible.
As an example of this tendency, and the improvement effeeted by expansion of business, the average capital expenditure (exeluding floating Capital and nominal additions) of the three metropolitan Companies was :—
In 1884
In 1895
In 1900
In 1910
In 1915
In 1916
In 1918
In 1919
12s. 5d. per 1,000 cubic feet sold.
1- 2d.
105- 7d. „ „ „ ”
106- ”
105. Ojrf. „
106. „ „ „ „
107. 9rf.
9s. 8d.
The followmg figures give an indication of this item, and its relation to various Companies and corporations. The figures are the latest obtainable at the time oi publication, and they do not include floating capital and nominal additions.
Companies :
Gaslight and Coke South Metropolitan Brighton Derby Bath
Hastings. Newcastle Watford .
Reading .
Corporations : Birmingham .
Manchester Leeds Nottingham Leicester.
Shillings per 1,000 eubie leet sold per annum.
S. d.
. 9 11
. 9 7
. 8 9
. 7 2
. 6 9
. 18 5
. 13 11
. 8 2
. 7 7
. 5 3
. 11 8
. 15 1
. 11 8
. 11 7