The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1903-06-17

profit on the investment and with a
deduction for the deterioration of the
plant. Any other basis would be an
imposition on the taxpayers and should
not be entertained for moment.
As to the contract which seemed to
be so terrible bugaboo, he said that
the exclusive franchise would not hold
as the City Council had not the power
to grant to any corporation an exclu-
sive franchise. That if it becomes
necessary to do so an independent
company could be organized and the
city could grant it a franchise to supply
water for domestic use, and that it
being so plainly to the interest Of the
people of Sumter to patronize the in
dependent company, they would do so
and the Sumter Water Company would
deprived of the greater part of it's
income and would be left dependent
upon the hydrant rent from the city,
under contract, which amounts all told
to s3,O05 a year. This would leave
the company with bonded debt of
S125, GOO carrying interest at IS, $50 a
year and an income of only s., O05 a
year with which to pay running ez-
penses and bond interest. In this
situation the commercial value of
the system would not be S110, 600 or
any thing approximating that unrea-
sonable and excessive valuation.
Furthermore, while the city may not be
able, under the contract, to tax the
property of the Sumter Water Com
pany there is nothing to prevent the
imposition Of an annual license tax for
doing business in the city, and if it
| was seen fit to impose this tax as
it is now imposed upon nearly all
lines of business the income cf the
Water Company would be still further
reduced. He said, he believed the
city should own it's water supply and
be favored the purchase of the water
works, now or at the end of the twen-
ty year franchise period provided it
can be purchased at fair and just
price that would do injury to neither
the present owners nor the people Of
Sumter, and he favored taking up
the matter in a fair square and busi-
ness like manner and acquiring the
ownership Of the system on the basis
seated in this resolution if it can be
done; but that he is unalterably op-
posed to the purchase now or at any
other time at the price stated in The
option given by the company to the
City Council. There being no further
remarks on the resolutions the chair
man put it to vote and the resolution
was adopted.
Mr.. Lee then offered the following
resolution which was likewise adopted ::
Resolved, That if the foregoing basis
of settlement is not satisfactory to the
Water Company that then the City
Council be requested to correspond
with responsible parties with view
of establishing an independent sys-
tenn of water works, the same to be
absolutely owned, controlled and
operated by the City of Sumter.
DR.. G.. G. Brown offered a resolu-
tion.
That it is the sense of this meeting
that the water works be purchased
and that the City Council be Informed
of the sentiment of the meeting and
be urged to investigate and report
to meeting of citizens.
| ] The resolution was amended by Mr..
Lee by the addition Of the following
clause:
Provided that the price does not ex-
ceed that agreed upon as basis in
the resolution. The amendment was
accepted by DR.. Brown and the reso-
luton was put to vote and adopted.
Mayor Stuckey made few re-
marks in reference to the reasons
actuating the City Council in opening
negotiations with the owners of the
water works for the purchase Of the
system, the importance of the ques-
tion and the necessity that the city
should own the water supply.
DR.. S. G. Baker brought out the
fact by question that the proposition
to sell the water works to the city
was not made by the Sumter Water
Company on its own motion, but at
the request of City Council to name a
price, a committee of Council having
been sent to Charleston to interview
Mr.. j. II. DAVIS, the general manager
of the company.