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V' m * After allowing $6,802,57 for materials and supplies and $2,301.58 for working capital, we have a net rate base of #144,844.05. The operating income for the years 1945 - 6 and 7 was 312,655.95; 35,437.02 and $10,824.97, respectively. It will be noted that the income for the year 1946 was considerably lower than the prev­ious year. This was due to the expenditure of approximately $10,000.00 for the relining of the walls at the reservoir. The operating income for the year 1948 should be approximately the same as during 1947.. The rate of return in 1945 was 9.30$; 3.77$ in 1946 and 7.47$ in 1947. The respondent proposes to spend $21,950 during the year 1948 for improvements and will retire property from service in the amount of $5,600.00. This will increase the capital account to approximately $161,194*05 on which will be realized a profit of about ^10,900,00, or 6.82$. From the testimony and evidence on record, the Commission is of the opinion that the company’s meters were not faulty as claimed by some of the complainants, but many billings were inaccurate due to erroneous computations in the office. Adjustments were made by the company in subsequent months to correct previous overcharges or undercharges. The Commission considers the rate of re­turn of 6.16$ from electric power operations and 6.82$ from the operations of the water department as not being excessive on the value of the property used in the public service. The Commission is also of the opinion that the rates presently charged are fair and reasonable. An appropriate ^rder will be entered dismissing the complaints. The Commission will, however, retain jurisdiction for the purpose of entering subsequent orders or conducting further hearings from time to time. -9-