Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-06-13

of fair-minded men appointed by the
court, none Of whom will have any
personal interest in the property
1t must be remembered that the local
water plant has been a splendid divi-
dend Garner for its owners. In fact,
with the State House, the Insane hos
pital and the Togus patronage, in adj
dition to it's large city service, it has
been one of the best paying plants Of
it's size in all New England. It's
officers admit a gross annual income
of 00-although whether or not
this amount includes the sums re-
ceived from the United States govern
ment and the State I do not know.
Assuming, however, that $4,000 is
the total annual income and we still
have four per cent. on million dol
lars. AS is generally known the water
business in this State, where it has
been carried on by private corpora
lions has been conducted on five per
cent. basis. No one disputes that the
Augusta Water district could borrow
all the money it wants at and u per
cent. The question that naturally sug-
gests itself therefore is this:
IF private corporation, paying five
per cent, for its invested capital, can
conduct the Augusta Water Works at
a handsome profit to its stockholders,
why could not the Augusta Water Dis
trict, paying three and half per
cent, for it's invested capital, conduct
| the same plant at handsome prolific
it's taxpayers, and still reduce it's rates?
No one need blame the officials of the
water company for strenuously OPP
posing ownership by the people. 1t is
entirely natural that stockholders
| should desire to retain their dividends
neither are the officials who serve
them to be blamed for doing all in
| their power to bring this about.
| The private citizen, however, is and
| need be, under no such obligation. He
may have the most friendly personal
! feeling for the stockholders of the cor
poration and it's officials A question
| like this can have no personal bear
| ing. The members of q corporation
respectfully where its stock is chiefly
owned in another city-will look after
their own interests, and the men in
their employ will naturally serve them
| to the best of their ability. The aver
age citizen will likewise look after his
own interests, and the interests of the
| community in which he resides.
| Water is a necessity of life. The
| law cnmpels, householders to connect
| with established sewers and in doing
SO forces practically all it's citizens
| within city limits-to pay the eStab-
| lished rates for water service. Events
have shown that even those who are
not within the immediate city limits,
| but who come more or less into con-
tact with its life. cannot escape and
| should not ignore the considerations Of
| public health. Every citizen there
fore has a direct and a personal inter
| est in the question of q public water
| supply. 1t will soon be the duty of the
voters of Augusta to declare at the
polls whether they prefer to pay their
| water rates into the city treasury for
the benefit of all the people or into
| the corporation treasury for the bene-
| fit of it's stockholders.
| Water being a necessity of life, it is
not surprising that ownership by the
| people IS everywhere on the increase
| 1t is a tendency of the times. 1t is in
| tn" air, and sooner or later is bound to
| come. Scores of towns and cities all
over New England; many of them in
our own State. now own their own
| water plants. We know of no case
whore such ownership has not been
| successful or where it has not ref
suited in a reduction of water rates.
! All these facts will doubtless be con-
sidered on June 22d by every tax
payer as. alone in the voting booth,
| he marks his ballot without fear or
80 ~,
of his own Independent and honest
Judgment
TAXPAYER