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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 25, 1916, Lethbridge, Alberta FOUR ME 5lK letbbrtfnje BA.'LY AND WEfcKLV Subicrlptlon j Dally, delivered, per week Dally, delivered, per year Daily, by mail, per Weekly, by mail, per year THE LETHBRIPGE DAILY I1ERALD_ THURSDAY, MAY 25, 1916 100 Business Office Editorial Office 'w. A. Buchanan Managing Director TELEPHONES MB: 1321 John Business Manager Your King and Country nood you right now! ROUND THE CIRCLE OF THE WAR Fighting continues to be violent ilong Verdun front. A severe battle is j raging about Hill 304. where German f counter attacks are said to have been t- j-epulsed. Indications of how heavy German i josses have been is given in tie fact I that the published lists are far in i arrears. Casualties of last Septem- Hier are only now being published. America's protest to Britain over with mails went forward Pthis week. i MEDICINE HAT ADOPTS f_DAYLIGHT SAVING Medicine Hat council at the revest iof the citizens, who indicated their desires by a petition containing 268 f names, has decided to put daylight :aving into effect on June 1. There no fuss' about the change. The council said the clock should be put one hcur-shead at midnight May 31, and the good people Medicine Hat are urged to give the plan a fair trial until Sept 30. Calgary and Medicine Hat have done a very sensible thing. There is no reason in the world why Leth- bridge shouldn't follow suit Give tie plan a trial. If it doesn't -work" out, it will be a dead Issue for all time. general revenue fund a little too free- ly for the good of the utilities. Last year the utilities paid in taies about This went into the general income account and went to reduce the tales in general by over one mill on the dollar. It would appear that, if this amount is to be taken each year from the revenue of the utilities, some part of it ought to go into a reserve fund to meet contingencies which might In the future arise in connection with the various pimiia. The street railway roiling stock will not last out the 30 years' term of the id. Why would it not be good practice to put away at least a part of the taies paid each year by the street'railway department as a sort of depredation fund to meet the capital expenditures whioh will have to be incurred when parts of the utility wear out and have to be re- placed. If this ware done it is the Herald's opinion that the city's present sys- tem; of dealing with the matter of depreciation .is by long odds better than the plan of rolling tip a big de- preciation fund such as is employed by private corporations. 8HOULD CIVIC UTILITIES HAVE A DEPRECIATION FUND? The auditor's annual statement is public and once again the old, old controversy as to the advisa- bility 'of creating 'depreciation funds for the city's revenue bearing utili- ties has been brought to the front Tn their report W.-, A. Henderson and Go. state that: "We. desire to again place before tie council the necessity for taking up ttie question of depreciation on ail .the assets owned by the corporation, and more" especially those raised un- der bylaw. The policy of allowing the instalments required to be raised for the purpose of redeeming bonded in- debtedness to be the process of termlning and measure of this all-im- portant provision is not altogether correct. It should only be, necessary to point out that under this method the life-time of the bond and not that the asset itself is the determining feature." The city commissioners do not agree -with the auditors, however. The of the city government in tiat the bonds issued are to cover the life of the utility If the equipment la maintained properly at the expense of the annual revenue from the util ity itself, the plant ought to last the lifetime of the bond. At of that time the utility will hate :paid the interest on the debentures, to- gether with sufficient principal, paid into the sinking fund annually, to pay off the principal or face value of the bond. If the plant ii then scrapped and a new one installed new bonds can be issued to cover the cost and the new plant will .carry the principal and interest charges. The city points out that, with the depreciation plan in operation, the utility would be asked to pay not only the interest and principal on the pres- ent utility debentures, but alio.a cer- -tain amount each go toward the construction of a new plant when the present one is worn out. If the present plant lasts the lifetime of the bond, as it should if properly main- tained, then at the end of the term of the bond it would have paid not bnly-for Itself but also a large propor- tion of the share of a new this last through the depreciation fund laid away each year out of the earnings of the plant. The injustice in; this scheme as pointed out is that the preient generation would be pay- ing tor their own plant and for a plant lor the neit generation as well. All that the ueit generation would have to do, in that case, would be pocket the earnings of the new plant use these earnings to reduce the general rate ot taia I tlon. The question It one with good argu- I on both sides, but we believe j the city plan, if not carried to cxtrene, is the'better. J It IB our opinion, however, thut the (lUlty ii" at present making the tferM jurtlic itlllUt; pay USM into You may be deceived aome day by imitation o! "SALADA" powibly you will not detect this imitation until the tea-pot it. Demand always the such witnesses'1' He said he might be able to an swer the question later on Her Last Corn Ache When pain youtophie- jay, it means the end of conn. Blue-jay that corns are needlets. And never again will you let a corn pain twice. The pain itopu instantly. In 48 hours the corn com- pletely disappears. The action is gentle. No soreness It is sure and scientific and final, Millions of people keep free from corns in this easy, simple way. Please try it Blue-jay is something you should not f e without And nothing em take its place. a and 95 Druffiau ;Atto Station Ptatun tan ntox, nt Tut r Blue-jay Ends Corns ;