Depreciation has been calculated on the straight-line method; the life of the buildings being taken as 100 years.

The number of units generated was 6,885,566; the number of units consumed was 5,577,119 which, at the stated cost of £40,346, gives an average cost per unit consumed for light and power of 1.74d. (light, 2-16d., power, 1.5d.). The corresponding figures for the year ended 31 March 1925 were 7,596,600 units generated and 6,138,115 units consumed at a cost per unit consumed of 1.95d. The units consumed do not include units consumed in the Power House itself, nor those lost in transmission, etc.

Professional fees and salaries incidental to the purchase of land, erection of buildings and purchase of plant, and also the accumulated interest up to 30 September, 1910, are included in the Capital cost.

2,071 49,751

INCOME.

Rent, including heating in respect of the portion of
4.00 Power Station used for other purposes
96-00 Balance, being cost of working during the period ..

51,822 100

The station ceased to function for main supply purposes on 9 February 1926, on which date the load was transferred to the City of London and Charing Cross Electric Supply Companies, but it continued in use for a period for emergency purposes. The sub-station plant will be retained permanently by the Department in connection with the bulk supply arrangements. Steps have been taken for the sale of the Blackfriars property.

IX. TELEGRAPH CAPITAL AND ANNUAL CHARGE IN RESPECT
THEREOF.

Capital stock (Consols) amounting to £10,948,173 was created under the authority of various Telegraph Acts extending from 1869 to 1877 in respect of money raised for the purchase of the inland Telegraph system and for development.

Of this amount, stock to the value of £80,529 was subsequently purchased out of surplus balances, etc., and cancelled, leaving £10,867,644 stock outstanding.

The annual charge for Interest, at the rate of 2 per cent. in perpetuity, on the outstanding amount of Consols is £271,691.

The capital, raised up to 31 March 1922 includes sums required to finance telephone development in Ireland. The telephone plant and property in the Irish Free State area was, however, transferred to the control of the Irish Free State Government as at 1 April 1922. An annual payment (see statement E., page 41) is received from the Irish Free State in respect of its share of the loans and bonds not redeemed at 31 March 1922.

See note under statement X,c, p. 40.