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NEW YORK STATE MUSEUM 



maintenance and repair fund of at least $25,000 a year in order 

 to repay the principal investment, which if taken into account 

 increases the probable deficiency to $48,250 a year. It must be 

 concluded, therefore, that with the present understanding as to 

 the minimum runoff of the Genesee river the project of a storage 

 reservoir in Mount Morris canyon, storing approximately 7,370,- 

 000,000 cubic feet of water at a cost of $2,785,000, is commercially 

 impracticable, while at the estimated cost in 1904 of $3,500,000 it 

 is even more impracticable. 



If we consider the Portage project in its financial aspects, 

 where it is proposed to construct a reservoir storing 15,000,000,000 

 cubic feet of water at a cost in 1904 of $3,250,000, we reach the 

 following results : 



The total fall from just above the upper fall at Portage to the 

 mean level of Lake Ontario is 833 feet, of which the greater por- 

 tion is available for the development of waterpower. Without 

 going into detail, we may place the permanent, continuous gross 

 horsepower of the river, with a storage of 15,000,000,000 cubic 

 feet at Portage, at the following figures : 



Gross 

 horsepower 



Portage to Mount Morris 25,924 



Mount Morris 835 



Geneseo and York 024 



Rochester 29,840 



Total 57,223 



Deducting from 57,223 gross horsepower the present permanent 

 power of 6727 gross horsepower, we have 50,496 gross horsepower 

 as the net increase in the permanent waterpower of the stream 

 due to the construction of the Portage reservoir. At $10 per 

 gross horsepower, as before, the annual income when the power 

 is utilized amounts to $504,960. The estimated cost of producing 

 this vast increase in power is $3,250,000 in 1904. Assuming an 

 interest rate of five per cent, the annual interest is $172,500 ; add- 

 ing to that amount $25,000 for sinking fund, maintenance and 

 repairs, the total annual expense becomes $197,500. The differ- 

 ence of $307,460 is the net annual income. 



