The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-22
LoUrsvILLE.s WATER SUPPLY.
Municipal Ownership Does Not Seem
to BE Successful.
Louisville Dispatch.


Louisville Dispatch.
The Louisville Water Company has per-
fected its plans and will shortly advertise
for bids for the building of the new fil-
mated by. the water company that this plant
will cost about halfca million dollars, but
it is believed by Outsiders that it will not
be completed at less than tkree-quarters
of a million dollars or even more. Quite
number of business men are jealousy
watching this new improvement on the part
Of the water company. 1t seems to have
been the policy of the water company ever
since it has been in existence to incur
enough expenditures in the line of improve
ments to use up all the money received
from water tolls in excesa of the actual run
ming expenses. 1t has had expensive reser-
voirs built, expensive pipe lines laid, ex-
pensive pumping stations and every other
sort of an expensive improvement that
would permit any part OF, the enormous
sum of money taken in from reaching the
outside in the shape of dividends. The city
owns this valuable piece of property, but
the city has never derived one dollars worth
of revenue therefrom.
In 1897 the water company collected in
cash 1921, $3.50. The cost of conducting
the works. which is certainly high enough,
was $S1 1881. This left a net balance of
something like $4,000 on the business of
the year. This is about an average year,
and yet there has never been even a small
dividend on the capital stock, which
amounts to $1275,1OO. There. has been APP
piled to profit ana loss since the water
company was started the enormous amount
of $3,256 1852. 81. This sum- taken in connection
with the original expenditure and the pro-
ceeds of the bond sales, makes the water
company represent an investment of So
SIS, 1854. 81.
On this enormous sum the city has never
collected single dollar of revenue. and
there is little likelihood that it will in
the near future The policy of spending ev-
cry cent that is taken in. no matter how
much that may be, has been constantly pur-
sued, and probably will be pursued until
there is change in the management AS
tain that we cannot expect a dividend sew
eral gentlemen who are interested in this
branch of the citys, welfare intend to look
into the manner in which this surplus reve-
nue. is expended One Of them who was dis
cussing the matter with a reporter Yesterday
said that bids for the new work should
be publicly advertised for as is required
OF all city work and that strict inspec-
tlon ana measurement on the part of the
city should be made. The General Council
and the sinking fund have right to know
that fair competition be given for all work
ana that the water company does not get
the not end of IT in computing the amount
OF work performed. The city has spent al
ready over four and. half million dollars
on the plant, and still the water is so filthy
that we must spend at once three-quarters
of million more to filter it,
Inc water company represents wheels
within wheels. Many aspiring politicians
nave started after it, but the gentlemen
who have been managing it for twenty-five
years nave remained mistaken. Through
the complicated machinery that elects
water company directors it takes several
years 10 make change. and all Of the re-
formers who start after it get tired before
they reach the goal Some day the civ
1atherS Will get disguised and will sell the
whole outfit to the highest bidder