Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-04-05

The other side of the account shows;
that Mr.. Westcott was paid for this i'll
bonds and their proceeds, except $1,000
in cash and $4,000 i'm notes by the Au
gusta Water Company. Before Feb. Is,
1855, Mr.. Westcott had paid all bills of
the company. The construction cost
since then, us shown by books of COM
pary, is SS6.516 Mr.. Westcott had
previously built water works i'll other
Maine cities. We think the job here
speaks for itself and that the system is
adequate to needs of city. Have been Il
stakeholder since system was built.
Have been in constant touch with
property and have helped plan i'm
proycments. Repairs to mains have
not been extensive. The maintenance
of the system per mile is very reason
able, as compared with other cities.
All The wrought iron pipe i'll this sys-
TEN is galvanized iron. Am interested
in water works in Athol, Mass, Spring
field. Mo-, and various places in Maine.
The value Of plant like the one in Au-
gusta is increased by the fact that Au-
austa is one of the best known cities in
Maine. The bonds III this plant were
sold at good premium before con-
structicn WAS begun. The various
State institutions here and the proxim
ity of Togus gave the city high stand
ing as one in which to locate such Il
system. At that time similar 5 per
cent. bonds sold lower than those of
Augusta. Bonds of other plants which
we built sold from 95 to 91l2, while
these sold at 103 and 1O7. I think this
plant is one from Which a steady in
come is assured. The prosperity of
| Augusta is an element which gives the
plant I; value. There are also various
contracts here under which the COM
| pany is now poorly paid
| At this paint and frequently during
the forenoon, Mr.. Heath objected to the
questions being asked by Mr. West
and frequent arguments ensued. When
it came to the question of the relative
values of what is given and received
under the contract with the Edwards
company, Mr.. West was cross examined
as to his fitness as an expert on water
power questions. He said: know the
prices paid here for power at the dam.
| Have also taken up question at ELS
worth where We are planning to de-
velop 5000 horse power. No practical
business experience elsewhere. Am not
an engineer. Do not know conditions
here at this dam us to cost of producing
mower Have leased water power here
for past l. years.
The court ruled that the witness was
nualinod to testify as to the value of
power used by company at the Augusta
dam. and Mr.. West continued as fol-
lows: 1.-THE contract between the water
Edwards iS
mutually advantageous. The water
company takes power at night when
mill is not using it. The mill gets an
efficient fire service. The power is
amply paid for by money considera-
tons"
When the afternoon session opened.
the matter of the contracts of the
company with its large customers was
taken up. Mr.. West said: THE price
paid by Tcgus. $500. is paid for the
amount of water required for the needs
there. An excessive amount Of water
is now used there. At the Insane
Hospital the contract is a very favor
able one for the institution" 1t was
agreed ry counsel that the amount paid
NJ the state House and by the city for |
hvdrants were fair and they were |
eliminated from the case.
Mr.. West continued: I'VE find that |
the use Of water constantly increases in !
n oity. even with a population growing !
hut little. People first lc!ve faucet. |
then q water closet then a bath room, |
and then a hose for the lawn.
Al this point Mr.. Baker asked the
witness to give. from the point of view /
Of an owner and investor. his opinion |,
ot the value to the present owners of /
plant. property and franchise as a
whole taking into consideration the |
-nhvsica! condition of the plant. the
source of eupply. the rates prevailing.
the nature of the franchise etc. To ;