The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1874-12-03
Communicated.

EDITOR CHRONICLE:
l desire the use of your paper for the
expression Of the views OF respectable
minority of the citizens Of our city up
on the important question before which
MI others eranesce, the Tama Hydraulic
| Works.
During the past season it has been >
dangerous proceeding for US to express
views differing from the prevailing opin-
IONS upon this question and at the present
time the columns Of our papers are not
| opeu to those who believe there are two
sides to this, as we'll as every other ques
ton. At the outset let me say that ! am
not unfricndly to this or any other enter
prise which will really advance the inter-
ests of our town or county; to the con-
trary | claim to be warmer friend to the
best interests of our people than many
others whose pRans are so loudly chanted
to this particular time by elder and lay
man. Let us see how this enterprise has
been conducted and in what position IS >
people and stockholders we now find our
selves The first work done after the or
ganization Of the company was to get the
sto k taken To secure the requisite
amount it was thought necessary that the
town rs a corporation should be bled
literally and as the law prohibited .
direct subscription for stock, an arrange
ment was made whereby the corporation
should buy a CERTAIN quantity OF the pow
er to be developed, or of the water to be
| placed here for use; possibly there might
have been no improperly in this provid-
! ed proper restrictions had guarded the
payment by the tom for this improve
ment, or right, only upon the successful
completion Of the work and the actual
furnishing TO our city what we paid for;
but general howl was made, the fragrant
breath of our paid demosthenes was
blown through our streets and in his final
speech in which was pictured to the AZ
| frighted council the immediate growth OF
dog fcnncl and mullen stalks in our pro-
minent highways unless this appropriation
was made at once and precisely as desired,
silenced all opposition and secured in fact
gift Of t,celse thousand dollars to the CON-
paay Town bonds for a great portion OF
all Of this amount have been issued and
disposed of, yet there isn't security for q
dollar that the Town shall get what IT
bought and has paid for. After the
stock hid been or was claimed to have
! been secured, d contract for the perform
ancc OF the work was made whereby in
the single item Of the dirt hau! being per-
ui.ted within two hundred feet instead OF
eight or ten hundred as it should have
been, from six to ten thousand dollars was
lost to the company. This is afact easily
demonstrable, Notwithstanding the loud
denials made by interested parties.
Representations have been made during
the progress of the work that the con
tractors were bound in sufficient bonds t.
cnmn'nte the work and warrant it TO stand
as completed for one year, and even now
great proportion Of the stockholders be
licvc this to be true; instead however o.
this being the case, only the dam and tn,
aqucduct across Deer creek were war
ranted. If an outlay of hundred thou
sand dollars is still needed to make thi
power available, every dollar must CONF
from the stockholders and not from tn,
contractor whose work is done and accept
ed by the company. After the pretended
completion Of the work the Ok must b
roasted ami the big guns fired. Thu
momcntous 18th of November arrived
every effort was made to celebrate thi
gigantic enterprise in manner fitting it
magnitude "Thc man of strong faitl
and logged persistence who never know
when he is defeated" received his fill O
, adulation.
1.-THE beautiful lake az clear as the sky.
Whose blue waves were forerer to dance merriy,
flickered in our mud basin about TWEEN
ty-four hours and 1.-THE rugged hard banl
fol the water to use," grew beautiful.
and rapidly less till it was found NECESSARY
to let the water out at once or witness tn
final destruction of the wonderful pond
One days time dsmonstrates to all wha
seemed patent before to those not gon,
daft over this thing, that this reservoir
as nop constructed, was utterly valueles
and that an outlay Of an immense sun
must be made before it would be safe t,
let the water stand in it. This is the pre-
sent value and status of the work How
about the financial standing of this com
pany? As before stated, representation
and positive statements were made wher
the contract was let that the whole
amount of stock was taken, all of it goot
and acdila5le II this be true will som,
one rise and explain why two pay day.
have passed without the disbursement o.
amounts due? Why the company nov
labors under an Indebtedness of NOR
than twenty thousand dollars: Why tn,
gentleman who represented to confidins
public that this stock would pay di
vidend to the holders of 200 per cent PEI
year, has been sent east to raise q large
amount of money on the bonds of thu
companys Why its orders are hawkel
about the streets and mutterings loud anG
deep are already being heard from
men who have earned their money and
can't get it? Why the contractor.
are making the acquaintance of lega
gentlemen to know what their rights arr
and why the Atty of the company gave
the Sec'y as parting charge Don't you
never show yourself here till you get tina,
money! Will some one please explain
to interested parties how this mortgage Of
twenty thousand dollars even if success
fully negotiated, is to be paid? II no,
paid what will be the condition of the
present stockholders, and what the value
OF their stock when the whole work is sold
on these bondss
Let me re-capitulate.
Town bonds to be paid BY Tama
City with annual interest 1t ten
per cent. ................. $la,oo
Amt. OF Indebtedness on work
now done, say. .:.........:. 10000
Amt. required to make what il
now done OF any value, not less
than .................. Is, OoC
Total. -...--........ $1,000
/ An to be paid hsrtlse, people Of cur town
to save what has already been expended,
Can we pay it? If we can. AO,c can We!
The moral earnestly desire our people
to draw from all this, is that sometimes
| those who are not willing tn accent All tha