The Canton times., 1895-09-13

ana tho SpcclncatlOns having Dee
completed. accepted, advertised, an
As the contract for const ruction let TO
$35. 100, it now remains for the peopl
to whom the question is to be submit
; ed by vote. to determine upon cit,
ownership. This matter should b.
seriously considered purely from a
business standpoint regardless of any
personal consideration, no matter
whom it may affect. Keeping solely
in view the best interest Of the people
of the town during the long years to
come in which their pockets will be
made to feel the drain of sustaining
this new enterprise, unless SO conduct
ed as to be self sustaining and profit
able undertaking. The preponderen nee
of evidence in this country and in Eng
land based upon statistics and actual
experience is decidedly in favor of CO.
operative systems. If number of
capitalists can associate themselves to-
gether and form a company capable of
conducting successfully and proftably
any business-why may not the citi-
zens of town do likewise and let the
profits that would otherwise 60 to
holders of franchise gradually be
applied to liquidating the bonded debt
and eventually pay for and hold their
plant themselves. This certainly seems
to be fair and reasona BILE proposition.
If franchise company is anxious for
the plant there must be prospective
profit in it or they would not be willing
to risk their money. If they can make
it pay why not the city do SO also?
There can be but few reasons urged
why they should not Chief among
them is the honesty and capacity of Of
acers, and the interest they would
manifest in public business, not be.
ing OF the same makeup as those of
franchise company. Certainly the city
canfurnish men of integrity and bust
ness capacity equal to any organized
stock company--men too who have the
honor to handle iduciary trusts us well
Is the employees of set of capitalists,
many of whom are guilty of fisgrantly
conduc. A Board of Direc-
ors can be formed from amongst the
itizens equal to any that can be pro-
uced by any one else. The only d an
er would lie in the possibility of the
lective power of the people being
lore injudiciously used than the votes
large stockholders, who have
arrower field and more powerful
ver. But the people are not wilfull
rong and would certainly not want
leir own enterprise and money
rocked. If they can handle munici-
Il affairs why not water works. We
e no obstacles on this score that
uld not be provided against in
arter. Canvassing the whole sub
ct from an unbiased standpoint we
no reason why the people should
It vote for city ownership-and a be
werful one why they should. The en-
orks will cost in round numbers lal
rned over to the city $4,000 for both mi
ater Works and Electric Lights, for dis
,ich it will issue its bonds running otf
: twenty five years; say at per cent tn
terest. which would make the inter- sh'
So. $50 annually. Now it is very gr'
to suppose the gross in hil
mes would be 90 per cent on the cap Th
/, which would make $1,000. annuaiy. SUI
Quoting interest from this would cit
we $4s50., allowing $500. for yearly W.
penses, would leave $3.50. annual moi
,fiits or dividend which multiplied cit,
rs years the time the bonds run, ed
uld at the expiration of that time the
cunt to $35,75O which would more ane
N pay for the works, and for ell time the
come the city would not only own shi
m. but make them a source of reve- con
;. These figures are good enough. owl
we did not consider that the first scio
RS profits and each succeeding one,
aid diminish the principal and re- the
e the interest aud that much SOON wdl
iquidate the debt. Remember too, firm
during all these years the city you
ernment is not out dollar; simply for
IS its bonds, which it meets from of {
fits. Now let us look at the other
/. If the franchise is let to outside
lies, they will not only reap all the
Its for 25 years and still own the
,erty, for the use of which Won and