Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-09-15

/ pass TO cOnSlNer certain OIner mat
ters of physical value, the water powerl
and the water rights. Not one dollar of
expense in all the future years canl
come to the water district for mainte-
nance of the reservoir dam, and yet the
gentlemen on the other side ask you tol
value it a mere bauble, a man ought
look upon and throw away. Every ele-l
ment of price concerning that power,
we have eliminated, and still they ask
you to give it to them for a mere nom
inal consideration, less than it's cost
and we bought it for il song.
All these dams were sold in their total
Ity and no man ever bought a single h. p.
to be taken from any of them. We don't
want power on Dam No. 1.-The Water
District wants it on Dam No. s and we
nave secured it for ourselves-for them
when they take the plant. forever. The
city of Halowell wanted 100000 gallons a
day of the water and Mr. TWambly imme
dlately figured on coal basis that the
cost of the power would cost $1,000 per
wear and the gentlemen on the other side
ask ypu to sell the present power to them
furnishing G00,O00 gallons daily. for $1,000
for an indefinite time. When this stream
flows low we must have their y h. p. to
meet our demands and this has been pro-
vided for in the water rishts-7is all that
of no. or at best. of low value? Mr..
TWambly says our water power Is inli-
nitely superior to the same power gener
atcd by steam, tells about the value of a
single h. p. Would Mr.. Gardner agree to
sell any of his power at the figure he said
it was worth? No; he raised the price
per square inch of use so per cent. not
long ago. Would Mr.. Boston sell any of
his power at the price he named as his es-
innate of its market value? Nc; not for
five times that. Why did not the eminent
counsel ask his specialist in this very
IpOint. Il master of emirence. as to the
questions of water rights, Mr.. Stafford
some questions in relative to the mat
ter? He feared to have him answer such
queries. Another element of physical
valueS-thc value of the going concern. a
proprrtydeveloped and earning a splen-
did income; IT the property had been
taken in the early years, the matter
would be diffcrent-it took 10 years of ac
tive service before this plant acquired an
income of $4,000 a year. suppose two
| plants were running side by side. one
son bought them both, the difference be
| tween the two purchases would be $4,000
| in 10 years of time the one earning, the
other getting ready TO earn. For nine
| Years the plant practically earned moth
ing and it took the next nine to bring it
| to it's present established earning carac-
| ity, and this is 4 value to be added to its
| other physical features. Aside from d few
!
nished all the data we had the plant has
absorbed by far the greater part of its
revenue. and get from some mysterious
| canon of his soul. my eminent brother.
| raises q picture of MesSrS. Lewis and
MaXcy walking up and down the streets
OF Gardiner with $16S.0o0 Of money taken
| from its revenue in their pockets. Not
one man in Gardiner would put Il dime
into this business venture in its infancy,
! but these two men, though begged to do
| 50, after their third associate had been
| staggered to withdrawal by the cold fig
| ures of probable cost submitted by Mr..
T'idd. Shouldcring the responsibility,
| though item selves staggered, and put
| their fortunes in jeopardy to accomplish
| this gigantic task. for not until the works
| were well under construction was Il bond
| issue even dreamed Of. Shall they be dc
| prived of the larger part of the invest
| meit today by these gentlemen of the
| II of the plant is assured? II so. we
| may look in vain for men in the small
fowns of Maine who will iii future risk
| heir all for the well being of their fcl-
| low. Nothing can equal the lugllbHation
# our brethren on the other side of the
aSc il their prophecies of the fiturc-thc
lamentations of jeremiah fade into in
| significance IN comparison. and yet the
promoters of the Water Co. mechanically
faced conditions black as night. If thc
| gentlemen Of the Water District are really
/ 50 luguhrious, why do they desire the
| plant when we are moro than willing to
keep il? The new residence Of Mr.. Jos
ton. the new business block ana the new
pulp mill are here now as takers. of much
water i'll the future, and other additions
are everywhere. The present revenue Of
he Water Co is in excess Of q necessarily
Urge expense list but when TIE Water
District has the management many, now
necessary expenses will be dome away
with. and revenue largely Increased. As
to the futurc our brethren on the other
side wall and lament because II few boys
'eroft 4 less in population. in direct con-
tradiction to the figures on which the city
docs business. showing there is 4 small
%ain They should cheer up; there is hope
Tor them yet. The role Of jeremiah does
not fl their gracious natures. our friend
if he looked about could find much TO
cause him to lift up his head and with
new courage lead his party ON the floor
IF Congress, My friend has said: wealth
does not drink water That is just what
wealth does, it drinks water and uScs
water; for signs of increasing wealth are
tho demands for bath rooms and ether
water facilities. AS to fire service. it lies
entirely with the city to say what il shall
he. There is today only 80 per cent of tho
hNdrants there should he for the length
of liuC, and ! have no doubt the interest
IN this city awakened by this hearing will
be decidedly increased, for the demand
will not he Slcnccd. South Gardiner has
grown since the report Of Mr.. MaXcN and
if these men are SaGacious, this system
will be in South Gardiner inside Of one
year. Twenty-Five thousand dollars will
pay for this extension and in a few years
every dollar of that will be paid and
leave q. handsome margin i'll their hands.
Why. your honors | am astounded when
| | think of these prospects in the near
future, and then remember that these
gentlemen want to pay us for this spien
did plant and its business the ritiful sum
of $flt,mo or $1,000 less than it cost.
| These people cannot afford to face the
setting sun in sack cloth and ashes. hut
turn to the east and see the splendid pros
poets toward which their steps are trend