ACI'.K ri.TIKAI. AI'I-nopKIATlOX BIU^ 1924. 4G1 



Mr. A.NDKKsoN. WrII. is thcrr anvtlimt; fmilirr on thin Irini^iiAri- ^ 

 Mr. Kit* II K.N. \\c \\n\v snj^p'stotl oiip inorr minor <'liaii(;<> in < 

 in'ction with this: After the word-* " (• per rt-ntiitn pi-r iiiunim," wo 

 wouhl like to insert tlic words " iindrr such rules as the .STrelnry of 

 A«;ri<ultiire may preserihe." That is morrly t«» rhirif\ that. 



Mr. Andku.son. Vou |)ioposo an increiuso under this nppropriution 

 <if about -SI I.OOO. What is that for' 



IN'CRKAHi: IN APrHOIMIIATION. 



Mr. KlTciiK-N. 'rhepriiuijml purpose for which that will he used will 

 he to remodel, modernize, and im]»rove stands in the market ami to 

 j)urchase some small items of <'(|uii)ment. Those stands in the nun 

 some of them. wen> hudt when tlu- market was <-onstrueled in ls,j, 

 and ahout half of them have heen remodeled and hrouj^ht uj) to <late, 

 hut none of them are as modern as you will find in the hest rfjuippeil 

 markets in tin* country. We have constructe<l three since we nave 

 heen there, and I think all of that inci-eM.ie (.f .51 1. ()()() would he used 

 j)rimarily f«)r that pumose. 



Mr. Andkr.so.v. I'ndor ncw^ e(juij)ment f 



Mr. Kttchf.n'. Wherever we imprt»ve the stands and improve the 

 e(|ui)mient. we increase the rent JO ])er cent. 



Mr. Ma(;ee. And you say that you are taking in S2 lO.OOO and your 

 expenses amount to ahout SHiO.lioO^ 



Sir. KiTCHKX. A])proximately SKIO.OOO. 



Ml'. Ma(;kk. AiuI the (lovernment owns the ])roperly ^ 



Mr. Kitchen. I wouhl like to add to that statement that 



Mr. Maoee (interjxjsing). Does the Government own the property i 



Mr. Kitchen. Yes. 



Mr. Mache. Buildings and all ( 



Mr. Kitchen. Yes. 



Mr. Ma(.ee. Have you made any allowances for depreciation or 

 anvthinuj of that sort ( 



Nir. IvjTdiEN. If we take in §240.000 and spend $155,000 for oper- 

 ating:; ex])enses. alterations. im])rovements, we would have left 

 $85,000. The taxes on the land and the huildinj; and the water rents 

 formerly ]>aid by the private corjioration amounted to $25,000. and 

 addin<x that to our o])erating ex])enses would bring them up to 

 $180,000. leaving $60,000. And then I figure on the amount of the 

 awaril, which was $9()0.000. interest at the rate of 5 ])er cent, which 

 would amount to S4S;000. and still leave us a surplus of $12,000. I 

 figure that he improvements that we have made to the building will 

 onset the de])reciation. 



Mr. Ma(;ee. What about repaii^s as necessar}' ? 



Mr. Kitchen. Weil, I say tne repairs and iniprovements which wo 

 make would add to the capital account and offset depreciation. 



Mr. Magee. Do you figure on anv insurance, too i 



Mr. Kitchen. We have not figured insurance. 



Mr. Ma(jek. Wiuit wouhl your insurance amount to? 



Mr. Kitchen. 1 do not know what the insurance would amount to. 

 but the figures certainly <lo show that we can make a return of 

 between 4 and 5 i)er cent on the amount expended by the Govem- 

 ment, allowing for taxes and all. 



Mr. Magee. Taxes and water rent would be how much ? 



