Arizona republican., 1899-10-24

! 7rs of the 100000 bonds, to pay inter-
/ st. Why so many bonds? Because
! Mr. Sherman was shrewd enough to
bond the plant up to its full earning
income under the franchise and con-
ract and for vastly more than it's
| -alue
He then referred to the plans drawn
BY Mr.. Abs Hagen for a water works
md sewerage plant. They called for
;265. goo. He suggested adding $4,000
Cor emergencies, making $4,000. The
,onds can be placed at 5 per cent.
Annual interest. $500; add $4,000 for
fuel and operating expenses, and there
is still a saving of S24, 500 annually.
f the city gives the forty years fran
chise it will eventually cost 100000
20 get rid of the burden. Mr.. Adams
stated that he believed the mayor and
councilmen were honorable gentlemen
and were honest in their opinions, but
they wanted to know the public senti-
ment.
He was loudly applauded and Col.
NJ. H. AIcCord was called for. He
stated that he came to listen and
learn. He was inclined to agree with
the last speaker, but wanted to hear
the other side of the question
a representative from the other side
was sought for, but could not be
found
Councilman Dyer was called upon
and stated that he was a firm believer
in municipal ownership, and pledged
himself to do all he could to further
that idea. He stated, however, that
while in California one of the bond
holders told him the city could not
own its own water works for the
reason that the bondholders would
keep them in court for fifteen years.
Mr.. Dyer seemed to think that with
that task ahead, it was time Phoenix
was getting into court and begin the
good fight. He was applauded.
Judge Frazier also came to listen and
suggested that Judge Ainsworth be
sent for.
Mr.. Adams was then asked to ex-
plain on what terms the city could
buy the present plant and what meth
I'd should be pursued to get the matter
before the council. Mr.. Adams said
the interest OF the bondholders could
be purchased for face vaIue-$3OO. 600. !
Mr.. Shermans interest had not yet
been placed on the market. He then
suggested that the proper course to
follow was to vote 1915, 600 bonds, get /
the money, appraise the present plant |
offer to buy at that figure, and if re- /
fused, build another This meeting |
should ask the council to place the /
matter before the people.
Col. McCord then made the motion |
referred to above and it carried with
out a dissenting voice and a rising |
vote taken later brought the same re-
suit.
The chair appointed the following !
named gentlemen to wait upon the ,
council: Col. McCord, J. w. Evans, J. /
c. Adams, Charles Goldman. J. Thai /
heimer, G. H. n. Luhrs, J. w. Doris. |
NJ. Jacobs, S. P. Clark, 3. Heyman, J. |
w Benham, DR.. Hughes, r. H. |
Greene, S. J. TribOlet, A. Goldberg, and |
the chairman afterward added by mo-
ton.
Judge Gooding was then called upon
and made a ringing speech on Phoenix
and her future. He was not familiar
with the details of the question under
but favored municipal own [
ership on general principles What
ever is done should be with the idea of
Greater Phoenix ever in view.
The board of trade in calling the
meeting took no position on the ques-
ton as an organization, but thought
the matters at issue of sufficient i'm
portance to arouse the enthusiasm of
the people, allowing a fair hearing to
all sides.