The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1906-11-13
\ BIT OF LEGAL IRONY.

\ BIT OF LEGAL IRONY.
There is frequently a deal of un-
conscious hunour in legal phra@eoIoGy.
What the instrument says IS not al
WAYS what it means. Yet the dignity
of ancient forms speaks AN iron vita
rare s~olemnity. The blank expression
Of the interrogation in a minstrel troupe
is not a circumstance to the pondefous
expression Of a legal setting to wit
and persinage.
We refer particularly to some Of
the appropriate expressions in the
proposed contract which the Wake
Water Water Company sometime ago
rendered the adoption Of the Board of
Aldermen. With reference to the rem
tai charged the city for its n hum
red and thirty seven hydrants of $37.-
so each per annum this cheerful hope
is expressed IN the proposition in part
as follows:
In consideration of the benhts
which will be derived by the said city
and its inhabitants from the main
tanance and operation of said water
works, ana in further consideration
of the water supply hereby secured ior
public use, and as an lnducement TOT
the grantees to maintain said water
works system. the right, privilege and
franchise hereby granted to and vest
ed in them. their successors and as
signs. agre to pay as rent for the sad
1871 fire hydrants the sum Of $3.50
| each per annum. which rent the City Of
Raleigh promises to pay in semi-an-
nual instruments on the first days OF
January and July in each and every
year during the aid term to the SAID
water company, its successors and as
signs, until said city shall exercise the
| right OF purchase as hereinafter con-
tanned"
We did not before know that the
Wake Water Company needed an in
| Gucement to renew its franchise. but if
it does so the city must REM its hy-
drants at a good round sum. If the
city should demur, dreadful would be
| the consequences when the water COM
pany inferentially, lacking this in
ducement. would fold its tents, let the
water in its stock and bonds run out
and leave over its pipes to rats to play
in,
But this is but a part OF the induce
ment. Ii, p%erchance, the city Of Raj
eigh should order an extension of the
liiiN, X l. Ut 10 TAM - IL IliAC
Of such @xtensio ten hydrants which
must be paid for at the rate of forty
dollars per year. while. if more ny
drants are desired along the lines al
ready established, they viii be given
to the city at the bargain counter rates
$25 per year, $3.50 per month,
The water company is generous.
But, in the provision for purchase,
is noted another item of consuming
interest. Arbitrators are to be selected,
two by the city and two by the water
company, and Il fifth by the four. Then
this board is to sit down ana estimate
as follows:
THE actual value at the time Of
such appraisal of said water works
system, including real estate. rights Of
way, privileges. easements. buildings,
b~etterments, improvements. machinery,
appliances, water supply, franchises.
contracts; rights. powers. privileges.
good will of business. connections
made. patronage securcd earning ca
pacitN, fact of being a good concern
ana all other property ana items of
value of every Kind and description
belonging to said company or connect-
ed With property used for the OPP
GRAFTON of said water works system o.
used in connection with said system
at the dime such appraisemont shall be
be made"
We have all along been of the opin-
ION that Il franchise 10 operate what
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-MoU 'sIBeddB Il 'SuGMOlseq u Also
-I7uoS 10 MoIS euU t IeaJ ase9I ne lQSIJI
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lsou !! Su!Ql QUO 9Ql ql!lt uonPIndod
Su!p!AoJd 10 e%s7I!A!Id clos eVl eAcq o.
pur A]Iodououu e $! 9LnlEu NI5A slI I'll
ing upon the consideration Of beine
permitted to trade with it upon sis
months credit. if the city desires "a
purchase the plant which could not ex-
propounded that in estimating tn,
price the value of the gift should be
taken into full consideration.
Everything that the water company
owns in the city OF Rateigh except it
actuaI material is the space through it.
streets for its pipes and the privilege
of renting those pipes to water CON
sumers. 1t does not even own tina
much, but takes it as a loan from
the city for a term of years. Yet il
is provided that his privilege shall
be valued at the price it t.
when the city comes to buy.
In other words. having loaned it
own inherent powers to 4 corporation
for a term Of years. to get them bacl
the city must pay the company a price