The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-10

rave SOU any otf4tE enter ,. IT'S 80
view 20
eyes. we have three other enterprises
IN view. looking 20 the promotion ~ the
Industrial and commercial Interests Of
this city. We are proposing 70 promote
the establishment OF large steel works.
capahie of turning o;5t - tons per Gag q
plates and rails, and 70 organize steam
ship lines on the general plan Of the
North German Lloyd lines, reaching 20
ports Of South America, Australia and
Asia We have also provided funds for
these enterprises. and as beginning we
have allowed sl.51o.9oo
Water for tho City.
''Have you formulated proposals for the
city water SUPPLY
we had drawn up proposals before the
recent movement Of the city government
took place. but ne have decided upon no
definite propositions yet We expect 20
be able 10 make propositions within the
course OF week or ten days The gen
eral plan is 10 deliver 100000 gallons
per day Of water into a new city reseT-
v0ir capable Of holding &A0r0.fso or 51osl,-
30 gallons. and 70 furnish that water 10
the city at a stated price per million gal
ions on the general line OF propositions
submitted by the city engineer 10 a Sc
cret meeting OF the water committee last
spring.
secret Meeting Of City Officials.
COPIES OF these propositions came into
my hands when was in New York one
% them was entitled. Prospectus for he
construction. operation and maintenance
OF the proposed gravity water supply for
the city ef Seattle This prospectus was
intended for capitalists and 10 invite them
% make such proposals. This was accom-
panied by estimates from the city engi-
neer entitled Memoranda showing the
probable effect Of the suggested gravity
supply from the point Of view Of city
finances. This prospectus and these mem
Oranda were submitted TO "A secret meet
Ing OF the committee but came 10 my
hands IN New York I had never received
from this board official copies OF these
propositions. The pan IN general which
We have hitherto proposed for supplying
the water 20 the city has been based upon
these propositions which were submitted in
th-3 secret meeting Of part Of the city gov
eminent These proposals. showing that
the city was deslrous Of existing outside
capital in the construction Of a gravity
system. had great weight in determining
the foreign capital 10 take up tbs and the
collateral enterprises"
The Gravity system Eliminated
''Woult not your enterprises be profit
able without the gravity SYSTEM"
II have no doubt that they would be
profitable IN the long run. but I doubt
whether they would be sufficiently so at
first 10 attract foreign capital TO any large
extent. ] believe that power plant when
once established here would lead to the de-
velopment of Industrial enterprises in S.
attic, 50 that in the long run a power
plant alone would become very profitable.
A. "a the movement Of the city govern
ment 10 condemn our rights and construct
its own works. our Eastern friends natu-
rally are very much disappointed. Il has
led them to hesitate as to the further out
lay Of money until Il is definitely deter
mined what the conclusion ~ the city will
be. In View Of this movement the COM
pany IS now considering whether it would
not he wise 70 stop all operations at once"
site Outside seattle.
Would it be possible to use the capital
az your command in any other place out
side this city,"
We have reason 20 think that IL would
he and have made some Investigations as
90 the power available ar other points with
a view to It's application to industrial en-
terprises In other cities. II IS perfectly
sure that the parties with whom we are
in connection in ENGLAND are DESTROYS Of
increasing their investments here provid-
"a II can he shown that such investments
viii De safe and profitable / am satisfied
that there is substantially no limit 10 the
amount ~ capital that I could secure for
Investment here provided the enterprise
We have now IN hand should prove 70 be
successful. 7 believe that the bank CAPT
tai here IS I'm the neghborhood Of $500
on or S6,eoo 0o II that is So our invest
ments here viii be more than half the
banking capital
Have your Eastern friends considered
the diversion Of the enterprise TO other
places
"They have. We have propositions from
two points ON the Sound. a one of which
II has been proposed to furnish as with all
The land We require on deep water for in
dustrIal purposes particularly for the iron
ana steel works. also. 10 make liberal CON
trihut'ons towards the capital required. II
wo would locate our enterprise at that
pnfaf AZ another point on the Sound
propositions have been made for com
hinatian f7yor'rc the industrial develop
ment of The place. hut We believe that Sc
attic. combining capital with the inteIlf-
rrree ~ the people and the enterprise o.
the place IS destined 20 become the mo
trnpnls of the Northwest. and we have
no desire o. divert any capital or any ~ our
resources % any othcr place our agree
n'rufs f'r construction require that pref
erence shall De- given IL Seattle in ex-
peujiturcs for both labor and m1ter'al="
Az" your financial arr9n Ecments SO far
completed that You have no doubt Or YOUR
aa.ity to SO on with your enterprises 80
"t'nr financial ARRANGEMENTS are sub
stautisOv closed the amount or money 70
he fHrn shed depending entirely u0on the
operations We undertake. and NOW depcrH-
ing very materially upon tho disposition
~ the people ~ this city OF course. y
oar friends abroad are made to under
stand mat tho~e is q movement IN thfs
city hostile n our enterprise Il viii ma
tcUally effect their conclusions"
Not a Dollar From tho city.
DO YOU propose - ask any financial ala
from tho city or citizens
we a. not propose 20 ask dollar. In
the sprlnc AMI summer ~ f>+l We invited
people here % become interested ana made
considerable EFFORT 60 enlist capital here ~
take u3 tlus enterprise, but without amy
ms tfria} success
rs you~ present financial arrangements
make b. tuliSrfNsa Ole that vou should sr-
cur, the contract With thc ,ity7''
''The contract w'tN the city - rene.4 d.
erCi bv f7reisu bankers a very essential
feature ~ ear enterprise. should tho ct.v
refuse o. enter into arrangements wien
us vr proceed t' coHIewn our rights ar3
property. % VIII uo doutt have "a very
SERIOUS gaert uuan ail eur operations
The recent movement ~ the yitv council
has hr'uCht about feeling ~ 9aunr ara
hesitation ou fHe part NJ on~ Eastern
t~ieufa Ta"y arr Walt.ug the Hral action
of tae c.ty government wftb great i-tsr-
cs,"
Thrive Millions GA Cash.
"Nntt a"e.sri ~ money ve.'t yra- e~-
terpree r.V-Ec .r l-e expended n .h.z
N.ctn.tN
"la rhe <aar-e q NJ g. a.a s,. v,s -
Z thrk is hhrst .h-.e ,.Hr-s as -1l-e al.
'he e..s vea's s.s-t 6 &. e~asff hs14 rs
own sEtN.tf system. oar rN.r 5.tI-a