Evening journal., 1893-01-04
SETTLED OUT OF COURT
Trustees Decide Upon Their
Course of Action.
THE WATER COMPANY MAY OBJECT

A Long Pending Question Before the
Trustees OF the Common Answered
BY the Establishment OF "A Method of
Calculation which the water Company
Must Adopt II 1t wants Appropria-
tions Hereafter.
Special Correspondence Evening Journal
NEW CASTLE. Jan. AT the January
meeting of the Board of Trustees of the
Common last evening, Dr. Black pre-
sided ana Messrs. Shaw, Herbert, Chal-
lenger, Ferris, Mahoney, Rodney and
Toman were present
The committee to hold the election Of
a new trustee submitted its report stat
ing that Patrick McGrory had received
sufficient number Of votes to elect him.
The report was accepted and the same
committee, Messrs Herbert, Toman and
King were appointed TO hold another
election ON the last Saturday OF this
month for a new member of the board TO
succeed George A. Maxwell Mr.. Nc
Grory was admitted as a member of the
board and the same was recorded on the
minutes.
Mr. Mahoney, Of the Acting Commit
tee repol ted that John ii. Palmer, tenant
of Model farm, desired TO be released on
March 25 and the committee was In
structed to receive a written notice from
Mr.. Palmer and TO advertise the farm In
the newspapers for rent
A lively discussion arose as TO the ac-
ceptance of notes from tenants in pay
ment of rent, which had been done in
one instance upon order of the Board
1t was finally decided by resolution,
to accept 10 more unindorsed notes from
any debtor of the Board.
Ending the Water squabbIe.
The discussion Of the evening arose
over the payment Of the semi-annual ap-
preparation Of s 800 TO the New Castle
Water Works Company, the appropria-
fions being due In January and July Of
each year. For a long time the treasury
of the trustees has been in pitiablo
condition and at a recent town meeting
it was decided that these water appro-
priations were burdens on the taxpayers
and should be stopped, the company
having obtained such foothold that IL
could conduct its own affairs and upon
its own capital. This procedure. how
ever, would be practically impossible as
the trustees bound themselves 10 pay
this money for all time TO come when
they induced the Water Works Company
TO establish the present system here
Here is the iron-clad agreement made by
the trustees with the Water Company.
And It is further expressly understood and
agreed and hereby virtually Covenantcd by
the parties TO these articles OF agreement re-
spectivcly-Ihat whenever In any year the
annual revenue Of the said company. OK
elusive Of all sums received By them from the
said tlrs ices, clear of operating expenses.
shall exceed the sum of three thousand
dollars (S3 OJO). then the payment TO be made
by he said trustees as hcrcinhcfOrc provided
shall ahate by the amount of the excess of
the said revenue over the said sum of three
thousand dollars.
OF late years matters have assumed
snch a shape in common finances that a
dollar saved is dollar made. and the
rebate from the water company accord
ing to this cast iron, riveted clause, IL
what the trustees are contendng for.
They however, cannot get a satisfactory
report of the water company affairs, aud
even the repor last night was not what
the trustees have been asking for. When
the report was reud and the semi annual
appropriation was asked for, Mr. Ferris
objected to its adoption, and offered a
report of the committee appointed TO
investigate the affairs Of the water com.
pany, with view toward securing an
annual rebate. lie expressed the views
Of the committee saying that while the
water works were invaluable TO the city
and should receive some reward from the
city, yet IL was the duty of the trustees
to see that this matter was made a bust.
ness matter, and that every dollar wa,
saved by the trustees The committed,
report contains the following method OF
calculation for the company
In representing the annual revenue OF tn,
Water Company, should he put apart fhl
AMOUNT Cr wATtR HENIs cnARGFr
hy % during the year las % whuthei
OF not these rents are collected D.
matter not for the consideration %
this bonru OF Irusieesl And unon the othe
side, as operating expenses should be charnpr
the amount paid for salaries. office rent coal
insurance taxes and all labor and ncidonta
expenses necessary to "a proper maintenance
ana repair OF the water works. but from thi
side Of the account is 20 be excluded an dfvi
dends or bonds or interest on bonds or nav
1nentson what is known as plumbers Ac
count as well as an sums paid for an cxten
sion OF the mains of the said company q
additions 20 its plant.
Must Count Unpaid Rents.
This report was adopted and the com
mittee's recomme ndation entered upol