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202
The additional Capital is divided into
50,000 preference shares of £5 each. The
sum of £1 has been called up on each of these
last mentioned shares.
The paid up Capital of the Corporation
thus amounts to -
The Capital subscribed but not paid up
amounts to
The Capital unissued amounts to
Up to the 31st day of March, 1889 (the
date of the last published Balance Sheet)
there had been expended on the undertaking
the sum of
Since that date additional Capital has
been spent, but it is impossible to specify the
exact amount until the result of the current
years Audit of Accounts is ascertained.
The distinctive feature of the system employed by the
Corporation is the generation of the Electric Current at one
or more large stations erected in a non-residential district
where the current is brought up by Electric mains to the
residential quarters of the Metropolis, thus imitating the
plan adopted by the Gas Companies.
This system which is in its way unique, has the following
amongst other great advantages :—
(a) The Corporation is not confronted with the great
difficulties and heavy expanse involved in the
£605,000
£200,000
£145,000
£392,957