The San Francisco call., 1909-11-29

hasly-reached yesterday by its public
utilities then San Francisco is fair way lose its chance
1 OF Lake Eleanor and Hetch Hetchy and to
IL Ahood a the stroke its best chance OF
o., VI getting Spring Valley plant for anything
WIN WateT like fair price 1t will be throwing away
Bond Eectoh those chances submit the water question
Ll 0 the people in the form of a three headed
alternative. the decided advise 1t will be
perous laundering all with the s4OO0o0o bond
proposition already its way submission
The only earthly change plan cys part
the offer Of Spring Valley sell its works for S3 00OOOO and
good regarded
and the figures high be considered except bluff
Unquesonaby its purpose confuse the mind the people,
already have confused the public utilities committee
and advisers. The company would be astounded may
believe its absurd proposition should seriously before the
people by the very whom unable
ship its system including the available Sierra
The people would probably be first stounded and then angry and
would the polls pundered such fashion
Let be borne in mind that this offer made until after
the S45 100000 bond way this
provides for the Sierra granted by the government
and complete distributing system Bear mind
long s35OOOO0O which has so perurbed the
administration, utterly and grossly uneasonabetha it
millions upon millions of what the Spring Valley system
worth Il enormously above Spring Valleys
OF the value OF its plant little than and half
April l9O8Captain Payon the predecessor Mr. Boun
president OF the offered the plant the city
5or S2OO00O Now Mr. Bourn asks S3500OO0 How and why
property gained S3OO0OOO nineteen monts
Bear mind further that the par value of Spring Valleys
stock and bonds full and overowng capitazations only
SSSOl MI Bourn and
bonus OF S3l4OoO above that capitalization The estimate
placed by investors upon the property according quotations
Saturday, S2H3lOO all that Spring Valley
its market price $4,000 by way from the
municipality.
Who prospective bene6cars to call this
reasonable proposition? the. committee
couned by the ciys legal advisers
that decides recommend the annung of the proceedings
already taken submit the $45000000 Hech Hechy
and to the people instead three ply proposition
likelihood thus leave us in precisely
the Situation that please Spring Valley Spring Valley
does really sell what it kill the Hech
Hecy project and branch and collecting the ultimate
penny for the least expensive
oday the supervisors will be called upon decide whether
ahead with the already ordered to be sub
mtted If they listen the public utilities they will
offer to the people instead these propositions ballot
0) SSOO0O00 in bonds buy Spring Valley the outrageous
price OF S0O0OO0 the remainder, S2O00O00 spent in
developing the Sierra building single pipe line TO
this city; ) S45OO000O the Sierra source double
pipe line and complete distributing system contemplated in
the pending propositions 3) S35OO0OOO buy Spring
Valley at the asking price.
ciy legal experts read the law any one Of these
of the that proposition but total
the election Such submission could pleasing
Spring Valley 1t would practically insure the all three
propositions and IT, perchane the first proposition
should carry Spring Valley would got asked but
did expect Some Of the ciy lawyers beginning doubt
if the municipality has the right go ahead with the pending
S45OO000 bond proposition without submission electorate
of Spring Valleys absurd offer To the mind that
The the proposition
had ordered submitted and called that fact
seems put end argument on this score
The supervisors would better hesitate ate Let
ahead with the S4 100000 bond proposition later
time the Spring Valley people should their and
talk business reasonable basis the Sierra project can
readily be modified that situation Nobody Francisco
wants smallest injustice Spring company
and the people concessions they will
held up unreasonable and they mind