The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1869-04-17
The Water Power Business.

The old saw, that ''when man talks about
a thing he knows nothing about, he is sure to
make an ass OF himself" was never more apt
ly illustrated than by the editor Of the Ottawa
Bloaoer, IN the matter of the proposed water
power improvement at Ottawa. We said, on
this subject, two weeks ago, in speaking of
the "hitch" between the company and the
city commissioners, that the matter of disa-
greement between them involved points Of
. law and fact that we were not then ready to
discuss. The BlOper see no difficulty in the
matter, and disposes of it in the following lu-.
cid style: MS
" Now there is only one palable fact in regard
to this business. A dam will cost money If
the corpOrators have enough for the purposes
contemplated in their charter, why that's
enough and an end of the matter II thew have
not enough and desire to raise more they mast
60 to work legally, make up a stock company,
and sell their shares to raise money. If the
trustees of the funds of the city see fit TO invest
in this stock, we presume they would have
right to do 60, but nobody can compel them to
do so, as "water power company" is not
necessarily manufacturing company" nor
can it be a manufacturing company in any sense
u 0uOrO
the power by which a factory may be run.
This is ell plain sailing. There is no ~hitch,"
and no dangerous "felds' with the bars down.
Any man having the least knowledge Of the
facts, and especially as developed at the meet
ing on Wednesday evening, will see what ar
rant nonsence all this is. nl,
There is no question as to the organization
of the company the difficulty is not in rails
ing money. The simple matter is, shall the
commissioners hand over !. to the company
100000 of city bonds without having voice
in the board of Directors of the company to
see that the money is used the purpose in for
tended. The commissioners are not free to do
as they please in the matter, for if they sub
scribe the bonds without making provision
for their proper use, the city council can re-
fuse to issue them or provide for paying the
interest on them. -s,..,.,,.,,
In reference to the project of turning the
whole water power business over to private
parties, and offering them bonus to make
the Improvement, the comments of the Blouer
are equally lucid and cogent. The project is
not to be thought Of mo help is needed
from outsiders" They did the like thing
once away down in Maine, says the Blorer.
The people of Augusta gave sprague aproper-
ty worth $4,000 if he would come and i'm.
prove it-make water power, build iacto-
ries, &c. Sprague did SO, spent about mill
; isn Of dollars, and what was the result ?
"Three years have given to Augusta mills
running forty thousand spindles, and in less
than ten years there may be four hundred
thousand. The cityis growing in population
every day and real estate has doubled and
thrlbblcd in value"
Now was not that ruinous! Is not that a
splendid reason why Ottawa should continue
on year after year to daily with this company
when "outside" parties staml ready to take
the job off her hands and make the improve
mcnt at once n rwT
Our only great fear IN the matter is, tina;
'outsde' parties will net have chance te
take the work, for the good reason that the
bill to authorize the City of Ottawa to vote
the proposed bonus viii not pass the legisla
ture, that institution" having resolved not ia
take up any new business at its present SEES.
sion. 1t is possible the matter might be &C.
cemmodated by the commissioners issuing the
Z required amount of bonds under their presen,
authority, and then selling the stock to the
''outsidc party" at Q nominal price; out VI
doubt whether the commissioners would bs
willing to venture upon such a step.