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Story
November 8, 1952
The Home Journal
Charlotte Amalie, Saint Thomas County, Virgin Islands
What is this article about?
In Jam, Gov. de Castro and Municipal Council members agreed to a $6000 loan to the Municipal Telephone System to cover a deficit from rising costs, including a $750 monthly payroll increase. The Power Authority will repay the municipality, and plans to seek a rate increase.
Clipping
OCR Quality
98%
Excellent
Full Text
Tele. System In Jam; To Get Loan
A loan of $6000 to the Municipal Telephone System to enable it to meet an anticipated deficit was agreed to in a conference yesterday attended by Gov. de Castro and members of the Municipal Council and Power Authority.
The Authority will repay to the municipality the sum of $6000, and this money will enable the municipality to make the loan to the Telephone System.
Pay plan adjustments which resulted in a payroll increase of $750 a month, in addition to other rising costs, caused expenditures to increase from $4300 to $5500 a month.
The Authority will soon make application to the Public Utilities Commission for a rate increase.
A loan of $6000 to the Municipal Telephone System to enable it to meet an anticipated deficit was agreed to in a conference yesterday attended by Gov. de Castro and members of the Municipal Council and Power Authority.
The Authority will repay to the municipality the sum of $6000, and this money will enable the municipality to make the loan to the Telephone System.
Pay plan adjustments which resulted in a payroll increase of $750 a month, in addition to other rising costs, caused expenditures to increase from $4300 to $5500 a month.
The Authority will soon make application to the Public Utilities Commission for a rate increase.
What sub-type of article is it?
Financial News
Government Decision
What keywords are associated?
Telephone System
Loan
Deficit
Payroll Increase
Power Authority
Rate Increase
What entities or persons were involved?
Gov. De Castro
Where did it happen?
Jam
Story Details
Key Persons
Gov. De Castro
Location
Jam
Event Date
Yesterday
Story Details
Conference agrees to $6000 loan to Municipal Telephone System via municipality repaid by Power Authority to cover deficit from payroll and cost increases; Authority to apply for rate hike.