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doubt that a destructor designed upon this principle can be arranged in combination
with a suitable range of boilers, so as to produce all the steam requisite for the
generation of the electricity required in Shoreditch, and I think the figures
appended hereafter will shew you that it will be exceedingly economical for you
to combine such a dust utilizer with your electrical supply station, since it would
undoubtedly put you in a more favourable position than any local authority yet
owning an electric light station as far as cost of fuel is concerned, and this is a
most considerable item in the cost of generation of electricity, and would obviously
allow you to supply the residents within your parish with electricity at a cheaper
rate than it can be supplied where dust is not used for the generation of steam, or
on the other hand, if you decide to charge the same prices as elsewhere, you would
make a correspondingly greater profit out of your electric lighting undertaking."
He then proceeds to give full estimates for the erection of a dust utilizer in
combination with the electric light station. The total capital outlay (exclusive of
site) being estimated at £63,572. The cost of generation and distribution is
estimated at £4,772 10s. 0d., or 3.75d. per unit, and the income at 6d. per unit is
estimated at £7,500, leaving a credit balauce of £2,727 10s. Od. The cost of
utilization of dust is estimated at £1,250 per annum, or about Is. 3d. per ton.
As these estimates were prepared from the commercial standpoint, and did not
cover the question of cost of taking up the necessary loans and repayment of
principal and interest, I was instructed by the Parliamentary Committee to present
a memorandum to the Yestry on this part of the scheme, so that the Vestry might be
able to have the whole question fully before them in a succinct form. I pointed
out that it was reasonable to calculate that the Vestry would be able to obtain loaus
for the same number of years as St. Pancras, that is, repayable over 42 years in
respect of outlay on generating station, and 50 years for cost of site. The portion
of the Pitfield Street site, stated to be required by the engineer for electric lighting
and dust utilization, would appear on a fair apportionment to work out at about
£14,000 (including a piece of land in Bowling Green Alley). The repayment of
principal and interest combined on the annuity principle would work out on this
basis as follows: —
£
Annual sum to cover interest and instalment on cost of site
(50 years) £14,000
567
Annual sum to cover interest and instalment on capital
outlay of £65,000 for generating station, mains, &c.
(42 years), engineer's commission, &c.
2,1)70
Annual charge for whole scheme . .
£3,537