The Richmond palladium. (Richmond, Ind.) 1906-1907, 1906-04-05
CITIZENS GIVE
VIEWS FREELY
The Proposed Electric Light
Plant Sale Being Freely
Discussed.
CITIZEN SCENTS DANGER
POINTS OUT THE MANY PIT
FALLS THAT EXIST IN A DEAL
WHICH is NOW PRoPOSED-A
STRONG ARGUMENT. :. =. :. :.

at the Palladium yesterday to give
| their opinion as to the proposed pur-
chase of the city light plant. Several
deemed the question one of such inn
portance and magnitude that it would
be unwise to form a positive opinion
at this time in advance of the result
ton.
While there are evidently many
business men who believe there
should be a full inquiry into the mat
ter before coming to a decision, there
are very few who with their present
understanding favor the sale.
The majority of persons with whom
the Palladium came in contact yester-
day were pronounced in their views
against the proposition, though sever
al said that if the proposition could
be presented them in a way that
would insure that the city would be
benefitting itself by giving up it's
plant, they would favor the sale. How
ever, they believe that it was highly
improbable that such convincing evil
dence could be presented.
One very prominent business man
who has the reputation for far seeing
, and whose judgment is recorded as
exceptionally sound expressed him.
self as follows:
Shall we sell the Municipal Light
Plant? This seems to be burning
| question now before the people of the
City of Richmond. The old Light,
Heat & Power Co. has made a propo-
sition for the purchase of the City
| plant and the proposition seems to be
SO entirely fair that that it leans
| backward.
"All of us who will look back
twelve years will remember that this
same corporation under different
ownership made contract with the
City of Richmond for street lighting
contract was made, at certain fixed
time the City of Richmond was to
have the right to purchase the Elec-
trio light plant of the Light, Heat &
Power Co. When the city came to ex-
ercise that option they found that the
Light, Heat & Power Co. was practi-
cally mortaged Cor bonded) for more
than it was worth. This stopped the
City from exercising it's option of
| purchase.
Suppose now the City should con-
clude to sell the Municipal Plant to
this same outfit or for that matter to
any other outfit that might acquire
the old plant and the new one. What
would there be to prevent the pur-
chasers of the city and the owners of
the private plant to Immediately bond
them for every dollar they are worth
and every dollar in addition to their
actual value for which they could
float bonds, putting back the money
in their own pockets that they paid
| for the City plant, taking whatever
profit there was in addition. Allowing
the interest on the bonds to default
the next step would be to have re.
ceiver appointed, and the next step
would be sale of the plants to the
highest bidder and the city would
find itself with a franchise on its
hands and with no body to light the
town.
1.-THE new purchasing company
would find itself with two light plants
on its hands ready to light the City
whenever it could make an advanta
geous contract and you can rest as
sured an advantageous contract
would be made under a condition OF
this kind very promptly by the city
and those who are SO ready to sell
the plant now would be put in a posi-
ton to think it over at their leisure
THE City owns it's own plant. II
you don't want to increase it in size
or if you do want it to increase its
money-making capacity you can do sc
at any time by simply adding to the
present units. Remember that our
New York friends are not philanthro.
pic Remember also that they are
here for the sole purpose of getting
the best of this deaf. They cannot op-
crate the plant any cheaper than the
/ City can operate the same plant. Let
the City plant alone. 1t is the duty of
every citizen to stand pat and re-
member that if you want cheap light
the way to bet it is, to keep this Mu-
I picinal Plant in YOUR own DOSSeS-