The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-04
AGAINST THE HORD PLAN
REPORT TO BOARD OF TRADE ON
THE WATER WORKS PURCHASE.
The Committee Could Not Procure De-
ner's Views on the Question.

the city is expected by interested parties to
purchase the water-works system now OPP
Grated by the Indianapolis Water Company
was the principal business transacted at the
meeting of the Board of Trade last night.
1t has been known for several days that the
committee of the board having charge of
the investigation as to the feasibility of the
plan would report against it. and when the
report was read it occasioned little or no
comment
George G. Tanner chairman of the COM
mittee, in presenting the report gave his
personal views on the matter in response to
a claim by some of the members that the
committee had not gone into the subject
far enough in that it had suggested no plan
by which the plant could be bought by the
city on advantageous terms. Mr.. Tanner
said it was questionable whether or not the
city should buy the water works under any
circumstances, the plant was not modern
in any respect, and within a few years the
city would have a worthless plant on its
hands in case it was purchased. The sup
ply, he said is totally inadequate to the
needs of city of the size of Indianapolis,
and, it is growing constantly, in a few
years the works will probably be of little
use. He explained that the committee was
chase of the water system, but to report on
the feasibility of the Hord plan.. After re-
citing the fact that the committee was ap-
pointed in answer to a request from Mayor
Taggart, in order that the board could give
its opinion as to the desirability of the city
buying the water works, and that the time
given it for its work was too short to admit
of thorough investigation, the report was
read as follows:
Entering upon its duty the committee
had the secretary of the Board of Trade call
upon the water-works company and asked
1T to furnish certain information with refer
ence TO the bonded and current indebted
ness and the capital stock, etc., of the
company, to which Mr.. Davis vice president
of the Indianapolis Water Company, made
/" L beg to say in behalf of the company
tnat 1t is not party to any proposed sale
of stock. Some of it's principal stockholders,
we believe, have been discussing with Mayor
Taggart possible sale of stock to the city.
AT the request of these stockholders, the
company consented to give and did give to
the city, through Mr.. Hill, the city's expert,
in answer to specific questions, certain in
formation respecting the company's phys
ical property. The company declined to
make financial exhibit to the city, because
1T was not party to any proposed sale of
stock, and because the stockholders had not
requested 1T. If they should request it, the
company and its officers would be willing to
make the showing you call for.
MUCH INFORMATION LACKING.
Continuing, the report says: "It would be
impossible to reach an intelligent conclu-
sion with reference to the purchase of the
works without the information asked of the
water company. The city should know the
amount of the Indebtedness of the company
and have full statement of assets and liza
bilities before making contract for pur-
chase. We have been furnished by the
mayor with a pamphlet entitled Documents
and Correspondence Relating to Purchase
of indianapolis Water Company by the
CITY 1893, said pamphlet containing, with
other information, the report of John w
Hill, consulting engineer, who was employed
by the city to make report as to the eff
and the condition and value of its tangible
property. Accepting the figures of Mr.. Hill
as correct and we are inclined to the be-
lei tnat they are, the value OF the tangible
property of said company is not in excess
OF the figures he names, i. E., 81, 6S1 SOP Oh
and we would not advise the purchase OF
the works by the city, even at this price
for the following reasons: The city could
not satisfactorily operate the works with
out providing for a system Of filtration and
water storage which would furnish the peo-
pie with perfectly pure water. The ex-
penditure of such sum would be re-
quired to furnish pure water would involve
the city in an indebtedness beyond the con-
stitutional limitation. A further reason
why we would not advise such purchase is
and the water company provides that no
purchase shall be made by the City Coun-
Gil until the terms agreed upon are settled
by arbitration and ratified by a majority
of the legal voters Of the city at a special
election to be held for that purpose
CITY NEEDS PURE WATER.
I'VE believe that a supply of pure water
is so closely identified with the health of
the people that the city should, at as early
a day as practicable, acquire and control
its water supply, but we are decided in the
opinion that the purchase by the city of the
water plant under what is known as the
Hord proposition would be unwise and likely
to involve the city in great loss and liti-
CATION
The report is signed by Geo. G. Tanner.
Edw. l.. Mckee, w. B. Holton, V. K Hen
d6ricks, A. A. Young, j. r. Ryan and Geo.
Accompanying the report was a letter
from Augustus l.. Mason in which the
writer, after calling attention to the disad-
VantageS or the present water works SyS-
tenn, suggested as measure to compel the
water company to accept fair price for
the property that the city take advantage of
a statute which invests 1t with the powers
OF acquiring property by the right of emin-
ent domain or in other words that of con-
demnation proceedings. He, however, called
attention to a claim which he thought might
be made by the water company that in
condemning the plant itself the city would
be compelled to condemn and buy the fran
chise with it. In his opinion on this point
he says he believes the company has no
franchise which it can sell to the city and
that the city need not pay for more than the
tangible property owned by the company.
After accepting the report of the commit
tee 1t was decided TO request the same COM
mittee to attend a meeting of the city Off
Gals TO be held tonight under the direction
or Mayor Taggdrt at which the matter will
be fully discussed.
A communication signed by thirteen mem
bers was read asking that the building site
on the northwest corner of Pennsylvania
and Maryland streets be favorably consid-
cred as a location for the proposed new
Board of Trade building. as in their opinion
IL was the best and cheapest yet brought to
their attention.
A letter from the National Board of Trade
was read, announcing the meeting of that
body at Washington, d. c., on Dec. 13 next.
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