The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1907-07-18

was practically in full charge
from the beginning, and meeting
all expenses and paying interest
promptly.
The only objection hat can be
urged to this plan is that its stock
might not be floated; on that
proposition ] have said and do
say now that if the citizens have
not sufficient faith in the arrange
ment then they can have no faith
in municipal ownership, and II
that is true there is but one thing
to do, and that is at the proper
time grant franchise on the
most favorable terms to be re-
served to the city that it is pos
sible to make. That can be done
in such event by offering the
terms to any company accepting
same within a time limit, and
therein retaining all of the ad-
vantages that we have at this
time to say the least.
The difference between getting
municipal ownership under the
stock company plan, and getting
in after years by a reserved con-
dition in franchises this that in
the one event you get and own
just what the tangible property is
worth. while in the reserved mu-
nicipal right plan you must pay
for the plant (including the fran
chise) just what the plant as a
growing plant is worth, accelerated
in value by the donation of the
| franchise that is being asked for.
| understand that the principal
reason for the council taking up
the matter of franchise, at this
time. so far ahead of the expira-
ton of the present franchise and
city contract is that there is a de-
mand of some consequence for
day current. To this | would say
that in the first place the demand
is not sufficient, as | am inform.
ed, to warrant the consideration
that it seems to have been given
IN this connection. but assuming
that the demand is great enough
to warrant an expenditure of
money, If that should be neces-
sary in the present condition OF
the present plant, what is to pre-
vent Mr.. Snoeberger putting it
in. The answer comes that from
the fact that his franchise expires
in two and half years he does
not feel that it would be safe to
do so without further assurances
that he may continue for ten
years after the expiration of his
present franchise. Ordinarily
business men are glad to well
come an increase of business, and
ordinarily they are willing to put
in any sum of money, that will in
sure profitable return, taking
the chances of the exigencies of
the future to get back their in
vestment.
1t is fair to assume if the de-
mand is sufficient to warrant any
additional expenditure that it
could safely be made without as
surance of long continued fran
chise, for the reason that no mat
ter what may happen, at the end
of the term of the present fran
chise, the owner or owners of the
plant with the needed improve
ments for day current added, will
have all the advantages over a
new company in that matter for
their investment will be known,
certain and fixed, and if they are
willing to treat the people fair on
rates and service they could at or
near the expiration of their pres
ent franchise and contract sue
cessfully compete with any new
company, corporation or 'individ-
ual
And if the council should feel
that Mr.. Snoeberger and his as
sociates ought to be guaranteed
any added cost on account of i'm
provements for day current, LET
me ask what is there to prevent
the council having some voice in
the cost of same and contracting
with Mr. Snoeberger that at the
proper time the city would either
renew his franchise and contract
at reasonable rates and terms, and
that if the city concluded at the
end of the period to go into the
municipal ownership of its light
ing, that it would purchase his
plant on the basis of arbitration,
allowing him the cost, wear and
tear excepted, of any improve
ments made to give the needed
day current. There is nothing
complicated about that. A COM
plete inventory of added cost on
account of improvement can be
Imade at the time of making of
same; contract fixing the basis
lat which the city would purchase
the plant, with the added inn
provements can be entered into,
and all proper and necessary
stipulations that are necessary to
safeguard the parties to the con-
tract can be inserted; and if in
the end the city does not go inlo
the city lighting Mr.. Snoeberg-
er's expenditure is not a loss, be-
cause it gives him more than the
ladded cost in advaofaOe over a