The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1894-07-26
PURoHAsHoFwArER WORKS

PURCHASE OF WATER WORKS
That Winston is far behind many
towns in the State in the matter of
water facilities is a fact that investi-
cation will readily demonstrate.
That we need and ought to have a
larger supply of water, for both fire
and domestic purposes, is universal
ly admitted. Then the question is:
How shall this improvement be
secured?
The city authorities answer this
very important question in their
proposition to issue city bonds.
They propose that $1OO,OOOshall be
used for this purpose-$56, 900 for
the purchase of the entire interest of
individuals in the present water
plant, leaving the city sole owner
thereof, and $44, 900 Tor the remain
der of the $1OO,OOO) to be used in
improving and extending the system.
The answer of the authorities
seems to be the only feasible one, if
not the only possible one, in the
premises and we hope that the voters
of Winston will sustain them in their
efforts to give the city this greatly
needed Improvement, by voting zap
proved" in the approaching election.
The authorities, in a very frank
and straight forward address, have
shown the necessity for an improved
water system and the desirability of
the waters:plant being wholly under
control of the city. This address is
commended to the careful considera-
tion Of every voter and our columns
are open for exp1 essions of opinion
upon the subject, pro and con, or for
inquiries upon any detail that is not
thoroughly understood. We believe
that the authorities are actuated in
this matter by sincere desire to
promote the interests of the city and
that there is no purpose to deceive
or to obscure any facts. 1t is desired
that every voter shall be fully in
formed in order that he may vote
intelligently upon the question.
AS to the price to be paid the
Water,Company, 500, 900 there may
be doubt in the minds of some as to
whether or not the plant is worth
this sum. The published statement
shows the cost to be a little more
than this amount, after deductlng
dividends, and the Water Committee
state that any excessive cost OF any
items are more than off set by the
increased value of the land and the
value of the established business. OF
course, purchase of the plant carries
with it the goodwill Tor established
business) and the franchise, which
are very important considerations.
There are many lines of business in
which these two items are of far
greater value than the actual, intrin-
sic worth of the stock in hand and it
seems that this would easily apply in
the present case, especially when the
future business is considered.
Some idea of the value of the fran
chise may be obtained from the state
ments published elsewhere in today's
SENTINEL, from which it will be seen
that the franchise itself, which is very
broad, has about eighty, six years
yet to run, and that the contract
with the city does not terminate until
nearly thirteen years from this time.
Some may take the position that
it would be better to put in an en-
tirely new plant than to buy the one
now in use. This may be true, if it
was possible to do it. The franchise
and contract with the city are i'm
barriers to such a course,
unless grounds could be secured for
declaring these forfeited, and it is
doubtful that conditions justifyirg
forfeiture will arise under such a
carte blanche franchise.
Let the voters of Winston avail
themselves of this opportunity to
purchase the water plant and enjoy
the benefits to be derived from it.