Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-04-08

MOter, and it continued to be pODuIarly
known by this name even after it was
chartered in 1870 as the August, Water
Company, and down to 1856 when the
corporation passed into the control OF
the present managing owners.
In like manner the Devine Water
Works, chartered in 1874, were in
operation without charter prior to the
construction Of the so-called Johnson
Water Works.
AUGUSTA WATER COMPANY'S
CHARTER
Chapter 463 Of the Private and
Special Laws of 1870, entitled An act
to supply the people of Augusta with
pure water" created the Augusta Wa
ter Company "for the purpose" as
stated in the first section of the act.
''of conveying to the city of Augusta
supply of pure water for domestic and
municipal purposes While in the
very title of the act stress is laid On
the purity of the supply, the act itself
grants the Augusta Water Company
corporate life for the one purpose oily
.of conveying n supply of pure water
for domestic and municipal purposes
For this sole object of its creation
was it entrusted with all its other
franchise rights and powers, which it
cannot lawfully exercise for 2ny Other
purpose.
1t was charged with the performances
of most important public duty which
it could not neglect or violate without
| forfeiture of it's right to exist.
! Under this charter. which limited the
/ q Iital stock to $4,000. ana gave no
right to issue bonds. Warren Johnson
and his associates and successors
operated these SO-called Johnson Water
Works until 1856 when they sold their
stock to the present management for
| $25 900, as admitted.
At this time the charter had been
amended by authorizing an increase of
capital stock to 100000. and n bond
| issue OF 100000 for extension Of the
| works, ana by giving the right to take
| water for the purpose of the charter
| from the Kcnnebec river. Webbor pond.
| Silver lake or Co5bOSscecontee lake.
Subsequent amendments authorize an
| increase Of capital stock to Il total OF
| $50 CnU, and q total bond issue of SG25,-
900.
We understand that of the total of
bonds authorized, $4,000 has never
been issued. and that the S2S5,0GO of
| bonds. which were issued. We're
| sufficient to reimburse tn" new OwnrrN
| substantially the present owners. for
the sums expended in buying up the old
| stock, and in construction of the IRE s.
ent works complete. So that the $780,
600 Of capital stock has cost nothing.
and represents not one dollar of invest
| ment. This has been proved by the
books of the company in connection
with other evidence.
| The present management immediaso-
| ly after obtaining control. in 1856. OF tho
| Augusta Water Company charter. hay
| ing first contracted with this city fn-
hydrant service, proceeded to construct
| the present plant. and abandoned the
old works as useless and practically
valueless.
As this property. on which tho al2n-
donCd works stand. is absolutely Use
| less for tho purposes of the company or
the Water District. we ought to pay
only its fair market value based on 4
conservative estimate.
Since the new works We're installed
the company has made no use Of this
real estate. and has suffered the old
works to go to decay. The old works
have no structural value whatever
They arc a mere ruin. The land, which
is indicated on the plan as consisting
of three lots. is of no value or use OK
cept for agricultural purposes. Its To-
cation ana physical features render it
| unfit Cor building lots. These lots are:
1. The Butman lot. to the west
which is so covered by the springs ana
reservoirs of the state. the Augusta
House and the Devine system. some
eiyhtecn in number. and so cut up by
pines and water courses that it is of no
value. As Mr.. Titcomh testified. he
would not assign n value TO IT, and
could rot suggest n possible usa to
which it could be put. incumbered as it
Is.
>. The q acre Lemont & Johnson
lot on which the ruined reservoir
stands. is cut from east to west by a
deep gully through which the Kennedy
hroo!; flows. The land is gravel, clay
and sand. rough and with steep slopes
and largely grown up to bushes. 1t is
it only for n pasture, and poor pas
ture nj that.