Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-03-03
the WATER QUESTION.

VI '"e water supply IN case OF hre.
Several members participated in the
discussion, and the opinion seemed to
be generally entertained that the ser.
vice could be greatly improved by
stopping the leaks in the mains and
service pipes. A fireman stated that
he had counted 100 leaks in the mains
between the reservoir aud Bullion
street; and added that there was q
! good sized lake all the time, on the
bench, which was fed by these leaks.
This, of course. materially decreased
the pressure on the mains, and by so
much lessons the quantity of water
available in case OF emergency.
To remedy this evil it was sug
gested and, the suggestion being put
in the shape of resolution, it was
adopted unanimously, that two
committees be appointed, one to spur
up the Water Company, the other to
appeal to the County Commissioners
to have the law enforced as laid down
in the revised statutes. These com,
mittees are to act in the direction OF in
creasirg the water supply to its reatest
possible limit. The matter may there's
fore be left for their action.
But while the Water Company can,
and doubtless will, increase the press
sure on its mains and improve the
service in other ways, the fact remains
that, no matter what the pressure, no
adequate supply Of water for fire
purposes can be secured except by
laying second line of mains parallel
with the first, and which shall be ex>
clusively for fire purposes. And it
may be that the question will 6nally
resolve itself to "Who shall lay that
line of mains? The citizens or the
Water Company"
Were the latter collecting pay for
water for fire purposes, it would be
no more than ri ght to require it to lay
the second line Of mains; but as it is
not receiving cent of remuneration
for the use Of water for the purpose
stated, it hardly seems fair to expect
it to do so-unless, indeed, the profits
on the investment are quite large.
But are they?
The Al,uras Water Company was
organized in the fall of 1883 by
citizens who saw the necessity for
water works to any town such as
HALEY was then and has since been.
They did not expect t. make much
profit on their investment, and they
have not been disappointed in this
resp ct, as it has paid somewha. less
han six per cent. per annum. That
is, on the original stock OF something
like 10000 shares at s per share. The
stock has since been cut up once,
three shares Of new stock being issued
for every share of the old surrendered;
but it has never paid dividends except
as stated.
Money here, as is we'll known, is
worth Il per cent. per month. No
one can get it for any less. On this
basis the stockholders in the Water
Company have actually LOST IL per
cent. per annum on their investment,
besides the depreciation in the value
Of their property. Lest it may be said
that this loss is only fictitious, we can
cite two transactions as examples,
viz: In 1888 the TIMES held 1900
shares old stock in the company for
which we accepted sl.35 per share
from Mr., Mellon of Pittsburg, and re.
fused 81 3799 per share f,om the late
A. j. MCGOWAN. Last fall J. G. Fox,
the wellknown dry goods man, and
Alex. Whitman, equally well known,
sold their stock on aasis OF rs cents
per share for the old shares which had
cost the m 81 each!
The above has not been written at
any body's request, nor to defend the
Water Company, as, paying our
water rem, promptly, We are under no
obligations whatever TO it. 1t has
been written, and will be published,
for the purpose Of putting the ques
ton before the citizens in its proper
light, that they may thereby be enabled
to form an intelligent opinion in the
premises.