Mr. Powell. Is that a supposition contrary to the fact?
Mr. Dewey. Taking it on the whole, I presume it would be 75 or 80 per cent of the value.
Mr. Gardner. It is high enough at that rate, I should think. What is your indebtedness?
Mr. Dewey. The net debt, including public utilities, is $600,000.
Mr. Magrath. What do your public utilities cover?
Mr. Dewey. Electricity, gas, and water.
Mr. Powell. Is there any surplus from the supply of electricity, gas, and water?
Mr. Dewey. There is a slight surplus over the operating charges and the amount necessary to take care of the debt.
Mr. Gardner. How are you paying that? Is it by a sinking fund?
Mr. Dewey. Some of it. Some of it is payable in annual installments. We issue debentures both ways.