The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-07-26

Re-Organizalion of the Portland Water
Company.
During the past few weeks plan has been
considered by parties interested to secure
change in the management OF the Portland
Water Company The past week an arrange
ment has been consummated by which the en-
tire management has been changed, and the
corporation has practically changed hands. The
following is the new board of directors as far
as named: d. W. Clark, H. M. Payson, Thorn
as III. Weston and II. n. Jose. The board
subsequently elected d. w. Clark, ESQ, as
President, and John p. Gilman, ESQ.,. Superin-
tendent and Treasurer
Last evening the Special Committee of the
City Council on the affairs of the Portland
Water Company gave hearing to the new
board. Messrs. Clark, Payson and Gilman APP
pearing before the committe. President Clark
stated that the directors had raised money in
their individual capacity sufficient to keep it
out OF the bankruptcy that threatened it. He
also made the following statement of its finan-
cial condition.:
LIABILITIES, ETC.
Interest on $s0O,OOo, first mortgage bonds
Interest on s2OSoO second mortgage bonds. 1,4OO
Interest on floating debt. ................. 1875
Office expense for year.. 1880
SsO,575
Estiaated water rates rents for $780, 900
Mr.. Clark said that the directors proposed to
carry this deficit themselves until the growing
receipts of the company should meet the de-
felt He further said the company desired to
put down four miles of additional! pipe in parts
of the city demanding the water and now I'M
supplied in case of fire, and for this purpose
the directors asked of the city $4,000 of which
every dollar would be expended in laying new
pipe to parts of the city greatly needing it.
This sum would not be called for until the pipe
was laid.
Mr., Payson said that two months since he
was opposed to giving the company a dollar,
but having been called to look into the matter
he favored the gift of $25,OOO by the city as a
matter of precaution against fire. He then
made some remarks relation to the supply of
water and the additional supply that can be
easily given by supplying one of the main
pipes direct during the day instead of drawing
from the reservoir He referred to the waste
of water, and said that the sprinkling of the
streets had been forbidden by those having
hose, because of the immense quantity used
1t only required forty hours to use at the reg
ular rates, the s. worth paid for that purpose
1t was intended by the grant to allow the pur-
chaser to wash the windows of his house and
sprinkle his premises. The amount of water
now received in the city is equal to 1000 gallons
for each family of five persons.
Mr.. Gilman being called upon, entered into
some interesting particulars respecting the ca
pacity and permancy of the water works. He
said he had ascertaned by actual measurement
at Sebago Lake that the pipe was capable of
furnishing 100000 gallons of water day, and
that the quantity now furnished was about o.
100000. To get the maximum amount of
water second conduit must be made from the
Lake to Gambo Hill and an arrangement made
TO bring the water into part of the city direct
during the day and turning it into the reser-
vor which holds 100000 gallons during the
night Mr.. Gilman has had long experience in
the business and having examined the water
facilities of most of the cities in New England
pronounces those in this city superior to most
and excelled by none. As to the cement pipe
used, he said it was endorsed by the most ex-
perienced men in the country. So far as il
goes, no city in New England is so well piped.
Mr.. Gilman who has undertaken the super
intendency of the works, gave large amount
of interesting information on the subject Of
water supply. He comes from Haverhll high.
ly endorsed as an efficient business man and
experienced in the matter he has undertaken.
No action was taken by the committee, the
meeting being adjourned one week.