The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1885-04-25
The Towns subscription t0
the Water Works.

Inquiry has risen as to the exact
proposition which the town will vote
upon on the 18th of next month.
According to the resolutions of
the Town Council by which the mat
ter Of water works is submitted to a
vote, the voters are to pass upon
only one question, to-wit whether
or not the Council shall be authoriz-
ed to Subscribe to the stock Of The
Monongalia Improvement Company
the sum Of Five Thousand Dollars
TO aid said company TO erect acater
acorks."
If the voters authorize the Coun-
Gil to make the subscription it must
be done on the following conditions
/. Not to be payable until said
company shall have expended at
least Five Thousand Dollars upon
it's water works.
2. The subscription to be paid in
the bonds of the town, running not
less than five nor more than twenty
years, and bearing six per cent. in
terest; and an annual levy upon the
taxable property of the town shall
be made to meet the interest and
principal of the bonds when DUE
The above proposition, with the
two conditions specified, are all that
the voters pass upon.
But it is not to be supposed, we
think, that other important details
will not be settled and fixed between
the Council and the Improvement
Company before the subscription is
made. The subscription is not
made when a majority of the voters
authorize it to be made. Nor is the
Town Council bound to make it
after being authorized. They have
simply asked, as we read it, to use
their discretion in assisting the com
pany, and if they cannot agree with
the company upon such terms as
will make it safe and reasonable
contract for the town, they will re-
fuse to make the subscription. The
Council would only be under obliga-
tions to carry out the authority
given them by the voters in case the
company offered reasonable and
satisfactory business proposition.
We assume that the proposition
contemplates the settlement by
Council of other conditions than
those passed upon by the voters, be-
cause the proposition as submitted
is palpably incomplete as a business
engagement, lacking some conditions
quite as essential as those named
in it.
For instance, the voters will want
to know before they put $4,000 in
the enterprise, that the company has
not only already expended $4,000,
but is able to complete it in a
reasonable and specified time. They
will want to be assured that the
towns subscription shall be applied
exclusively exclusive of gas works)
to the building of water works.
They will want to know-at least it
will be reasonable that the town
should be assured-that water rates
shall be kept within certain maxi
mum, and no opportunity given the
company to practice extortion on
consumers.
| These and other like conditions
are, we think, essential to a COM
plete business contract, and the
Town Council would be expected to
settle them before the subscription
is made.
The Town will become by virtue
of the subscription, stakeholder
in all the property Of the company
lin gas as well as water, and be
entitled to dividends on the profits
of the company, whether derived
from gas or water. But we under
stand that no part Of the towns sub
scription is to be expended for any
other purpose than in erecting water
works. The town will have vote
in Che future operations of the com
pany only in proportion to its stock,
and when the company has expcnd-
ed $4,000 in water works the Towns
interest will represent less than one
third Of the whole stock of the COM
pany, end the town will not, there
fore, be able to control the opera
tions or policy of the company.
Hence arises the necessity of MAX
ing complete terms with the COM
pany before paying the subscrip-
ton.
| We make these statements for the
| satisfaction of voters who, like our