Excerpt from Central-Station Electric Lighting: With Notes on the Methods Used for the Distribution of Electricity
The art of lighting by Electricity practically dates from ten years ago, and it has during that period received the constant attention of both Electrical Engineers and others, who have applied the greatest scientific knowledge. The result of all this energy appears to be discouraging. Five hundred thousand pounds have been subscribed to carry on the business, and it is doubtful whether the companies which survive have a market value of one-tenth of that sum. The experience may have been bought too dearly, but the era of Central-Station Electric Lighting, which has now commenced, ought to re-establish the position of Electricity in financial circles, and afford a safe and profitable outlet for the surplus capital of the investor who buys gas and water shares to pay four per cent.
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