The sun., 1891-06-09
THEWATERP ERPLANTPURCBASE
MAJOR CHAPIN AND COMPTROLLER
JACNSON DEFEND IT
n 10 lad nee. CersunHstea Broekiy,.
They Assert. Would Have Acquired
. Net Iseoms OF Nesrly eo1,00o.

II 10 had Beea ConsunAatea Br0ok1yn.
They Assert. wouia Have Acquired
. Net Iscome OF Nearly e0T,0Oo.
Mayor Chnpin and Comptroller Jackson Of
Brooklyn sent long communication to the
Board OF Aldermen OF that city yesterday CIV
ing in detail q history OF tho effort made to
purchase the plant and franchises Of the Long
Island Water Supply Company. and tho reason
why the municipal authorities were so anxious
to pay tl.2S0, 900 for system Of water supply
that William ZicRler thinks was worth only
e250.000. Tho Mayor says that instead OF tho
bargain resulting In . loss OF 100000 to tho
olty. the municipality would have benefited
financially BY tho transaction. The Long ISL
aud Water Supply Company furnishes the
Twenty-sixth ward Of Brooklyn. or the old
town OF New Lots. with water. and will con-
tinue TO do so. the Mayor says. under the deci-
sion OF tho Court OF Appeals, until its franchise
expires In 1881. During the Intervening period
the city 10 excluded from carrying It's mains
through the ward. and will be compelled to pay
the company for all water used By the munici-
pal authorities in that ward.
BY acquiring right" says the Mayor. TO
enter the ward aud supply its people with
Water the city at once secured revenue much
larger than the charges imposed by the
purchase. Under the contract the city as
sumed. a. tho law directed II that must do. the
$500 1000 Of bonds secured BY the two mort.
Gages. Tho city also agreed to pay $750.000 In
per cent. bonds for tho property. plant. fran.
ohises, and possession OF the company. The
sffect OF this was that the city would have been
Obliged to pay interest upon the bonds as
sumed and the bonds to be issued. together
with Whatever might have been tho cost Of
mainiaining and operating tho water system
Of the ward. These items can be precisely
stated. The burden Of interest Is $4,000. l. e..
6 per cent. upon the $500. 900. outstanding
bonds assumed: plus S22,5 500. l. e.. tho interest
at per cent. upon the $760.O0O bonds that
werc to'be issued undcr the contract. plus
t6T0. which is the cost OF maintaining and
operating the water system Of the ward ao-
cording to the estimates OF the Department Of
City Works. Tho city. therefore. agreed 10 as
sume total annual burden OF &69.20O. This
annual bu' den would have tended In the fu-
ture to diminish In some particulars. The out
standing 6 per cent. bonds of tho water COM
pany isll duo partly in 1895 and partly in 1901.
and at tho,e dates they undoubtedly could be
reneMed by the city at per Gent; In place Of the
stsntiaIy -dimiaished in 1895 and nd again ain
IN 1901. Consider next the items Of credit or
proved property as we'll as from the occupants
Sder sss sns sesn
1atlons. They are based upon the valuation
pses 1s0n roees1 o.
records show The precise number Of houses
nnd 70 bs On sSsh street hch hs
mol difiicult. ihereiore to estimate what reve. o. e.
pue the City should receive upon the same
Il i ,hs S remainder Of lie a'e City. ~ The HThs
EsvetnISneso EtIn g. IRON m improyed property would
s. tn. front foot. as In oiher parts Of The City
The revenues from vacant property would be
T" e:S credit 1T items Oud be
company under tho contract made By the town
ami na the sy t the
viii be inserted In the next annual budget. will
lie $ls.72o; plus the further payment for by
credit Items. therefore. accruine to the CITY ns
the result @ M Of III Ibis purchase amount to more
asures: they are sworn calculations based
Ipon p careful M computations OF the property In
Thus. according to tho Mayors figures. the
annual Income Of nearly $4,000. The pur-
& sf iSs Thee e'S Gs sns
g. that beoEs they the contract Of
a 10 ss
mess ,ce ln support OF this statement are let
ses 5o oSn tsrsa anS hpsss
the value Of the plant and the receipts Of the
LonT Island Mater Supply Compsny With
the contract to purchase had been eonsum.
mated by the city. The message also includes
the imll text OF the decision OF the Court Of
Appeals and the law annexinR the Twenty
sixth ward to the city of Brooklyn. In con-
cludlne Mayor Chapin aud his colleague say:
1T has been stated that the propriety OF
terminating the present relations between the
company. the ward and the city. ia not Ques-
toned IN any quarter. Percepton OF the ex.
treme inielciy Of those relations and of the
fact that the rapid proRress Of the citys ma
terthl interests tends 10 mako thom more in
tolerRble in each succeeding year. led the
OIL clals to attempt to solve the situation by
the contract OF last December. That attempt
wac an element In u comprehensive scheme to
unify, extend. and complete tho general water
supply plant and system ~ the city. Further,
i was desired not only that the question ~
the water supply In this ward should assume
Its true relation to the same question In other
parts OF the city and to the city's finances.
but that the vast outlay contem plated IN that
ward for sanitary purposes. and to promote
lta materi al attractions and comforts. should
be expended In the manner most advantageous
10 the people Of the wnrd, as we'll ns to tho
q neral interests OF the city. This purpose
can be accomplished only by freeing the wnrd
from the nresence OF the company. Tho con-
tiact OF last December has been brought TO
raught. Some olher solution must be dscov-
cred. 1t Is hoped that what Is here submitted
- your honorable body may promote this
dis overy."
Ths Bcarl Of Aldermen ordered that the
messngo be received printed, and referred to
tic Law Committee.