The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-02-18


THURSDAY. FEBRUARY Is, 1897.
This paper Is Democratic an principles
and Is independent in its Uie,os on all local
questions.
The "Warid's,, Funny Water Figures
The "World,' by a process of its own,
which we confess to finding utterly in
comprehensive, arrives at the conclusion
that by building its own waterworks at
a cost of s5,o5O,0OO. this city would make
q net profit at the end of twenty-five
year of 1854. $3.50.
Lei us just see what the facts are
The principal of the bonds, pay
able at the end of the twenty
FIVE years, would be. ............ Sc, 050,00O
Interest for twenty-five years at
~ per cent ..---.---... 5,ool,zoo
Cost of maintenance for twenty
ftpe years at $4,000 a year, the
Worlds W figure........ 10000
Grand total 81, 4Sl, a5a
Now set against this the cost of a sup
ply averaging. say So million gallons a day
for the twenty-five years at an average
price of about $50 a million gallons. or
say about 500, 900 a year for twenty-five
years. we have a grand total of $40, 900, 900.
The city would therefore AVE to ex-
pend about a million and a half more
in the next twenty-five years, under the
Worlds plan.
But, it may be said, the city would
have the waterworks to the good at the
end of the period. We. reply to this that
the worlds" estimates are utterly abb
surd. The waterworks could not be on
structed for s5.O5o, 600. Here is a low esti-
mate
Compensation for water rights
and lands Sz,5U0.V0D
Cost of constructing reservoirs 2o00g 9O
Pipe line to Belleyille. 2,tOc,Ut,
Right of way for same......--... 100000
pine line across the Meadows. 600. 900
Total $4,000
Besides, the city could not attempt to
pay off ever five million dollars in
twenty-five years. 1t would be 100000
a year, and anyone who is acquainted
with our financial condition will see the
wild impossibility of any such payments,
especially with the vast increase in the
interest account. 1t would take at least
fifty years'to wipe out the debt. On the
basis of this revision of the Worlds
figures, it would cost us something like
this to build waterworks now
Original cost, payable on ma
turity of the honds.....-,.... $1,000, 900
Interest for fifty years at AZ
per cent. 11,l00,0W
Maintenance for fifty years, at
$4,000 a 2,5oo,0 900
Grand total................. 81, 200, 900
Place this in comparison with the re-
suits of purchasing the East Jerseys
works at the price now asked. Here are
the figures
Price asked by East Jersey....... $3.50, 900
Interest for fifty years at AZ
per cent .l5,7g1, 300
Cost of maintenance..--.---- 2,500,00
Total s25,2 III 500
OF course. it will be objected that we
set the cost of the works too high, in the
case of the city constructing for itself.
We think not. In the first place, legis-
1ation should be secured to enable us to
condemn the water rights of the Morris
Canal. Then there would be from five to
ten years litigation to effect the condem-
nation. The courts should and would
deal with the p in the most liberal
Company's claims would be only a begin
ming. We would mex have to deal with
every other person having a vested inter-
est in the lands or waters which we need
cd, from the East Jersey Company itself
down to the smallest mill owner along
the streams. We leave it to the Judgment
Of the average bushes man what this
would cost
AS for the actual construction. every
one knows that work lone on public ac-
count costs from 20 to 50 per cent. more
than similar work done under private
enterprise.
Now. all these remarks are not intended
to show that the East Jersey contract is,
the best thing for the city or tina Mayor
Wanser ought to sign it.
We think the exact opposite, and we
have ~abundantiy stated our reasons.
What we desire to show is the injury
which the world does to the cause,
which it pretends to espouse, by its stupid
aking
1t is a byword in Jersey City that, if
anything could make Mayor Wanser sign
the contract. it would be the "worId's'
foolish and vicious o~nslaughts.
We may d that We do not think the
city can afford to build it's own water
works at the present time. If we are to
ave a new permanent supply. it must be
by a fair contract with some company.