Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-03-08

S0CAk S-.ss. Er.,.s. -.
. ssy Dsses wAsss that Company has ~
~. yoss - ir.lss, ssd wiiI forward ..
- aSssy ordss. sesaehpd- - - order 70 ssnd
. Iss@ e - ssssd n.'., fIs. 80: e =: ~
eV1ss. n 10 ths saSssG sd bsst wy 70 plscs
vsus ahssfpAses
~ Augusta wssss Company.
Ths Age hiss grown hysterieai about
ths water Company - the day Of cleo
ssoa approaches. II has franticsIly en-
Aeavossd 70 make IL appear that 1t was
rot paying srs proportional part Of the
taxation Of the city, that IL 10 Eepsbli
can institution, and that IL Is charging
ths city sxorbitsnt rates while its stock
holdsrs are literally rolling In big div
idsnds. II IL nsedl;ss, perhaps, TO state
y our citizens that these faIminsfions
Of the Age are A. sDeeious rs they are
demsgogiesl. The following plain facts
The Journal proposes to lay before Its
readers this morning, together with a
sumber Of minor ones Of less Importance
LIST. In proportion TO the Invested
capital tho Augusta Water Company
pays the highest tax Of any Water Com
psny 10 Maine.
End. Ia proportion to the number OF
NJ iphabitabts the City Of Augusta gets
the lowest ~ster rate Of any city In the
STATE.
ID. The whole valuation Of the Com
pany has been an addition to the taxable
property Of the city.
The Water Company h not and never
has been . political association Of oapi-
talists. II stockholders include promi-
Dsnt men Of both parties. Among them
being Hon. Arthur Sewall, Chairman OF
the Democratic State Committee. and
Oscar Holwsy. Esq, who has been nom
mated xs the Democratic candidate for
Alderman from Ward /. The directors
Of the company are Hon. J. Manchester
Haynes. Oscar HOlway, Geo. r. West
colt, d. A cony and J +. Bodwell Ia
coming TO Augusta this company never
asked exemption from taxation. Such
exemption was granted to the companies
1t BIddeford, saco, Calais, Carbon,
Dover, Foxcroft, Old Orchard, and OF her
places. In fact h has been the general
policy Of municipalities towards their
water companies. but the Augusta com
pany solicited no such favor. They were
willing to take their chances with other
property owners Of the city They were
content to stand their share Of the pub
lie burden. Prior to the advent OF this
company an unsucces-ful attempt had
been made to Interest local capital In
work Of this magnitude but without sue.
cess. A company had been chartered,
but II was unable with the capital nj its
disposal to furnish the service the city
demanded.
The new company bought the fran
chIse OF this company, paying its owners
OF, 900. the par value OF their stock, and
then abandoning the property which was
absolutely worthless for their purposes
Possessing the franchise, thus honorably
and generously secured, the company
began its work Of giving the city one OF
the very beat water supplies in Maine.
BY very large majority the citizens
Of Augusta voted to authorize the City
Government to make contract for ny
drant service with this company for An
annual rental mot exceeding o., 500"
The contract actually made was for
$4,000, = sum 600 less than authorized
by this vote. Surely II the City Govern
ment had been As completely dominated
BY the Water Company. a. the buncombe
Of the Age would give people to under
stand. 1t 10 iadeed passing strange that
they should not have been able to have
secured the full limit OF the amount au-
thorised BY this vote. The contract thus
made. 10, ~ we have said, the lowest in
proportion to population, that any Maine
city enjoys. The cost OF hydrant SER
vice In other Maine cities to-day is rs
follows: Biddeford ~. 500; Saco o., 500
doth Of these cities let It be remember.
ID are exempted from taxation Bath
eA,OoO; Rockland $50 per hydrsnt 1.-THE
Augusta rate Is O25 per hydrxut) Card.
ner e2,OOO; Old Town sa.OOo; Calais
q, eco.
The Age has been too busily engaged
In the manufacture Of buncou,be to in
form it, readers Of the fact that all the
bonds Of the Augusta Water Company
are held Ia Maine savings banks and that
every dollar OH them pays tax Of three
fourths Of one per cent.
Under the statute laws of Maine the
only property Of q water company
which has been taxed, aside from its
stock, Ii Its reservoir and Pumping Sta
ton.
II the stock il taxed il must be at its
market value, and from the amount so
asseesed must be deducted the full
amount of the tax upou its real estate |
Tn to the present time the stack OF
the Augusta Company has no, paid one
cent. For the truth Of this statement
We refer the Age to Its candidate for
Alderman from the first ward. II will
Be sean, therefore. that the stock Of the
Water Company has as vet no market
value. 1t undoubtedly will have In the
future when the COMPANY has yo. upon |
its feet and IL having a good p.r cen,
Of proat over aud above its ex.
r.r... r. ,,u,.,, 80, -.