The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-08-30

that while {aide a,oake he did vote for,
and, with tba cooperation OF his fellow.
members oftthe City Council, in 1866,
did adopt proposition, which, had it
been accepted by any capitalist, would
have involved the city, at the end of
twenty years, in expenditure of an
amount equal, at least, to $4,000 The
proposition then made, as will be seen
by reference to the above quoted pro-
ceedings of Council, was to pay the
capitalist who would undertake the en-
terprise $4,000 per year for ten years.
and S5, ZOO per year for fifty years there
after. That our allegation is correct,
the following exhibit clearly demon
strates:
$4,000 per year. for ten years.. .......,. $4,000
$1,000 :" "........... $4,000
Cost of labor to operate machinery,
&C., tor twenty years, at $4,000 per
year, ] =; c,.,. 4e'ooo
oil and other contingent expenses,
at least $4,000 per year, for twenty
Cost Of new works, including new ''''
collecting reservoir, pumps, pipes,
for leading an additional supply Of
spring water into tho new reservoir,
and for connecting with the pipes
now In uee, water-wheelS and gear
ing, a new building for machinery
and other appurtenances necessary
to force 100000 gallons OF water
daily into the distributing reservoir. 10000
Interest on the debt which the city
would have incurred in building
these works, estimated at our loyal
rate-seven per cent. per annunl--
on the amount Of the bonds that the
city would have to issue to raise the
$50, 900, at sixty-flve cents on the dol
lar, the market rates, to wit: 4G, 1853,
80, TOR twenty years, would be. ..... G2 G15
Making total Of. Observation-Disclosures. s312,G15
The difference between that PROPOSE
ton and the present contract being but
81, 3S5, which would allow but $500 and
n fraction, per year, to the contractor,
for all his risk and responsibility in tho
erection, management and maintenance
of said works.
This statement we believe to be full
and complete answer to the charge made
that the price stipulated in this contract
is exhorbitant. And just here it is we'll
to consider that at the end of the twenty
years the entire new Water Works, ''thc
reservoirs, pumps, pipes, buildings, ma
chinery and all and every other matter
or thing in any way appertaining to the
said Water Works, which shall have been
built or furnished" by the contracting
party, shall revert to and vest as the
property of the same in the city of Co
order and repair
in the adoption of the contract, we can
ouly say, rs is shown by ex-Mayor
AIcKenzie's card, that the subject has
been agtated for very long time; that
several reports OH the subject have been
made by the Committee on Water Works
to the Council Mt different times; and,
still further, that this very contract was
reported and submitted to the Council Mt
least two weeks ago, and that, it was
amended and modified in every particular
that members of Council suggested;
that, although it may not havo been in
form, yet it has been in substance be-
fore this Council for more than five
weeks; and that upon this matter the
proceedings Of Council ut every meeting
were published
In addition hereto, we assert that the
city does not incur Il single cent of in
dcbtedness in the fulfilment of its por-
ton % the contract.
II is also charged that the contract
leaves the city at the mercy of the con-
tractors, in fixing the water rates, in
case of forfeiture of works. This is
simply absurd.
Any one who reads the contract will
find it is therein distinctly stated that
the city shall fix the water rates, and
should the amount arising from those
rates exceed the compensation allowed
the contractor, that excess shall be paid
over by him to the city.
1t is certain that with proper and
"uniform" system of collection of water
rents, that they will amount to sum
sufficient to pay the compensation speci-
fled in this contract; and that this con-
tract will in no way involve the city in
any additional burthen of taxation; but,
on the contrary, We sincerely believe
that rs the city grows, the water rents
will SO increase MS to not only pay the
compensation stipulated, but to yield
large excess, which can be appropriated
to the payment of other debts and lia-
bilities. Let the supply be furnished,
and we will guarantee the demand will
be sure to follow.
Considering all these things, we do
not believe that the Council needs any
vindication. Their action carries with
it its own vindication. The contract is,