, 1890-05-01

the question that Ia Ia bc submitted
| for their decision ut the special cleo
/ tion ordered by the city council and
To he held On the lth day of juno
proximn. II isa quest ION OF ere
l atinp IA bonded debt of S0b6,UW fol
completing the purchase of tht
plant and lands of the spring ltil
/ Water Company and eNerythlnt
pertaining thereto; for cost OF pip'
lines and iirc-buat on Elliott bayi
for pumps, boilers, pumping sta,
tions, etc, at Lake Washington, and
| for distributing mains necessary "a
/ the proper extension of the distrib-
uting System; and to pay for tun-
neling and for purchase and laying
Of pipes and placing Hush tanks,
mNnhulcs, etc, for sewerage system
All of these improvements are I'M
pcratvcly demanded, and Seattle
/ must have them. The rapid growth
Of the city aud tho near approach ol
{ the dry season give warning that
/ there ~ no time to he wasted.
Security against fire, n reduction ol
Insurance rates, security against the
spread Of disease, and a possible
pauic-hrccdlng epidemic, aud th,
comfort and convenience Of oui
large and rapidly increasing populn'
tion nll ure Involved, and make thi-
the most mOmcntulls question which
the people of this city viii he called
upon to decide for u long time to
come.
II should be borne IN mind that
these proposed and necessary i'm
proycmCnts will lie indefinitely
postponed, To the great detrimcnt
and damage Of all property values
and business enterprises in this city,
" the proposition to lie submitted at
this election should fail TO carry.
And In this connection the fact
should be kept constantly In mind
that thruc.iiiths Of the voters of the
city must vote In the Affirmative oI
the proposition will mil,
In view of the ovcrshadowing nee.
cssities Of the case there Is hardly
room To doubt that with practical
unanimltv the citizens of Seattle
are favorable to the proposition. The
proposed loan will not hc one of the
ordinary kind, Involving taxation
and no return, On thu contrary,
the Income from the watcr-wurks ni
present rates and without reckoning
any increase of consumption, will
considerably exceed thc taxation
necessary to meet the obligation
which II Il proposed to create.
The bonds are to draw . per cent.
which Will involve an annual inter
est charge OF Si7,IjO The present
receipts for water, exclusive Of by
drant rental, amounts To SSO, 500 pei
annum, which, with improved dis
trihutlon, ns proposed, and no in
crease on the average population o
last year, would be increased, ac
coniing to the careful estimates nj
Expert Williams, To at least elO5, ,OO,
per annum, ana the same authority
estimates that with the proposed ia
cliltiCs and SYSTEM uf dlstribut lon
and on a conservative estimate Of In.
creased population and uses fol
water, the receipts by January l.
lSl2, will reach S2ll,OOO.
But, allowing for all possible CON
tlngcnclcs, including such reduut lon
of water rates as circums tnnccs may
Justify and require, IL is oousiJ cd
perfectly safe To calculate on AN uu-
nual net income of sos, 100. 1'hi-
extremely conservative estimate
would yield sufficient to nay the
: Foo of annual interest aud leave
ci1,2iO for sinking fund, which in
twenty years would Just wipe ont
I he principal. IL IL therefore clear
chat the taxation implied by the
lnan will be merely nominal, and
that really thc income from
tho Investment will far exceed it-
cost. On the basis of the estimate
made 10y Engineer Williams, oi
s2ll 900 per annum after January T..
iSl-, I Is apparent lhut thc Income
would lee enormously i'm excess ol
the taNatlun ucces Hry In puy oil the
bomb. At the end Of tie twenty
years It would leave balance of
lnorc than two million. on the cred.
IL side Of Of the city's ledger.
The chief and vital point is nint
citizens be- not ncglociml Of their
duiY IN respect to u matter So viinlIy
Important, There must bpa three.
iitths vote IN favor of the PROPOSE
tiOn.