Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1905-12-08
ANOTHER SOLUTION OFFERED.
Mr.. Davenport Thinks He Can Settle
the Water Question.

Editor The Reformer:
Permit ME TO present again and
more fully for careful consideration
my suggestion at the village meeting
Tor solution of the water question. II
was ELECTED by the revelations there
OF status of the Sunset Lake COM
pany altogether different from what
the committee or anybody outside the
parties In interest had understood:
but further reflection strengthens the
conviction which is shared by other
citizens who have studied the matter
that II is the one way of dealing with
this most difficult matter that will do
right by all parties. and that there is
no other way but means wrong some
where or in some degree.
My suggestion is simply to deal
separately with the Chestnut Hill and
Sunset Lake companies as distinct en-
titles, as they are in law. and euut-
ably as regards their bondholding in
terests, while the stock of both is all
held by Mr.. Crowell and family. There
is weight and justice. and appeal to
every right feeling in the idea that
Mr.. Crowell ought to have a money
equity somewhere in the matter in
return for the large amount he has
sunk the heavy burden he has car
ried, and the difficulties he has strug-
gled against in trying to serve the
village, in doing what the village
ought TO have done for itself years
ago, and which its situation contained
exceptional opportunities for doing,
but in which il would doubtless have
had some of the same expensive les
sons to learn and depreciation of val
ues to encounter that he has had.
But if Engineer Daviss figures are
right, or anywhere near right. there
is no such equity in the Chestnut Hill
system but rather $4,000 to $4,000
less than none. While this SYSTEM is
bonded for s125,000 Mr. Davis says
all there is in it could be replaced for
$4,000, including the Vernon street
line in which the village owns $4,000;
and as nearly as can be Judged from
his report the street mains are worth
500, 900 to $4,000 less than his figures
because of the redigging, relocation
and substitution that would be neces-
sary to afford an adequate and effec-
tive system for fire and domestic pur-
poses. and this is a shrinkage that
cannot be avoided whether the village
takes the mains or Mr. Crowell over
hauls them.
The village cannot be expected to
pay for any such non-existent value
1t cannot be asked to make the bond
holders a present to an amount that
means $50 to $75 for each average
family, for the purpose of making one
on top of that to Mr. Crowell. There
is no moral or equitable reason why
it should any more than why it should
shoulder the debts of any other cor
poration, firm or individual. Inc
bonds five per cents, appear to have
been marketed at some discount. and
the fact meant recognized risk in the
now to ask the village to
cover that margin of risk by laying a
perpetual tax on itself-for sucn II
would be in water rates or IN some
way-is such heads | win, tails you
lose proposition as no lntelngent
will ever accept Nor Is
the income paying power OF the prop
erty a fair element in the case 10 any
extent for besides fair
return on actual capital, income can
have its sources only from the iran
chise and right of use of streets-1or
which nothing was ever paid put
which was simply a loan from the
public of what was and still is the
public's own-or from TOO mgr,
charges, which are two and thlrd
times those at Bellows Falls, A per
cent more than those at GreenHeid
and 32 As higher than the average OF
the 40 towns and cities from which
the committee has obtained COMPARE
tive reports. If it be true, as claiineu
that the present system is yielding
q GOOD income on 100000 and also |
true as the engineer reports that It is
onIv worth $4,000 Il surnise that
both statements may be sNb1ect 70
some discount) it only means that
go is now being paid in rates for
zach 81 that ought to be paid-even
worse, for the village can command
capital at much lower rate than any
private corporation.
If we were not hearing SO many
good and ordinarily sensible people SO
arguing. it would be absurd 10 ASK
your space to point out what srusa
,,,nosition it would be to capitalize