The daily morning journal and courier., 1901-12-28


 right around and pray out an injunc- tion against you. Remove that ambig- uity and make the terms dead sure. Abrogate the agreement to pay any money after you have purchased. The next thing I would have you do is to secure free water for the use of the city. In 1881, when this question of purchase was before you, the price Of $750, ,000 was questioned, It was stated that it included the money invested plus 10 per cent, and interest at per cent. for twenty years. Interest on your own property, practically. That is the ambiguity in the contract to- day" As to the free water for the city MT. Wallace produced statistics or towns that were furnishing free water. Referring to the statement of President Whitney, he said: q do not think for one minute, knowing that gentleman as I do, that he would misrepresent things. but the same conditions may have eX- isted twenty years ago when the presl- dent at that time submitted like statement. Now the question is, is the data furnished by MT. Whitney accu- rate or have some of his underlings de- ceived him in the preparation Of that statement as was done twenty years ago? Have they charged for watering streets on rainy days? Have they charged by the water meter for the water that flows over the dams i'll the spring and fall freshets? Where has that S65. .000 worth of water gone? The statistics furnished by the street and fire departments can figure up only s14,00O Do they drink it at city hall?' MT. Wallace closed by urging the com mittee to see that these three changes were made in any contract that may made.
 Charles T.. Curtis, member of the board of finance. put the matter on a purely business basis, and said: This is not matter that should be settled by oratory or appeals to emotions, nor by fragmentary data. The most glar- ing evil of municipal ownership is the loose system of bookkeeping that turns profits into losses. In municipalities that own their water works the great profits are shown because the compan- ies are allowed to show a gross proht, and are not charged with the expendi- lures that rightfully belong to them. The only way to purchase is to pay TOT it what it is worth. Any higher price | would be a gratuity to the water com- pany, and any lower price would be robbery of it. If now or later the city acquired the water works bonds would have to be issued paying sum so large that it would use up all the profits of the company, and there would be no advantage in acquiring the property" hat ter could be obtained for less than it is now furnished. He suggested the com mittee make it an object for the com pany to make a lower price by making | a longer term contract and thus remoV- ing the menace over the head of the | company A long contract, MT. Curtis thought would insure purity, because 1 the company would feel warranted in making the expenditure necessary for the installing of filtration plant.
 Charles Gay was in favor of the com l mittee having the water company ar ' range a schedule of rates as bank has 1 rates of interest for various periods. He objected to being compelled to pay for a whole year with no tenant in house some of the time. MT. Gay was i vehement in his condemnation of the water company for the epidemic of last summer, and charged them with neg 1 lect He suggested the committee drive the best bargain they could, and to cut the rate down all they could.
 l General S. F. Merwin as one of the ' board of directors of the water com pany, detailed the difficulties in organ izing the company, and the reluctance ' ,f Ia tc erJJ,carihN for itc stock The city refused assistance in establishing a water works. and 1t was sometime before it began to pay dividends. He i further detailed the large expenditures now being made for improvements for which there is no return. He regretted the epidemic, but it was something that could not be foreseen, adding, If the fault was with the water company. as claimed, what could the city have done if it owned the plant?" General Mer- win knew of no corruption on the part of the company, and while he was not on the committee to treat with the citys committee he felt sure that three propositions would be made, one for period of ten, twenty and thir- ty years, with different price for each. Every man in the Water company wants to deal fairly with the city. It is hard time to talk reductions now, but there'll undoubted- ly be some. There can't be too much of cut. however, because the demands are too great. We must look out for the future would be glad to sell now. It is a good time for the company to sell out, and a poor time for the city to get in. No man is getting more than three and a half per cent. on his invest ment."
 General Merwin stated in his remarks that the company paid taxes to the amount of $14000. To this Mir Carroll took exception and showed figures showing a. bill of some SS,000. General Merwin could not explain it, but Pro-