The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1910-06-30
HEAR DEATH kNELL OF INTAKE
Commissioners Must Work Out Some
New Plan to Provide Funds for Elk
tensions and Proposed improvements
in the Plant.

bers Of the Kenosha Water Commission
will make no contest against the reso-
luton passed by the common council de-
manding that the money now held by
the board be taken for the payment Of
all the outstanding bonds of the com
pany. The money now in the treasury
of the commission was set aside some
time ago as a. building fund to provide
for the installation Of the proposed in
take and for such extensions as might
be demanded but it is probable that
this action on the part of the Board
would not prevent the money being di-
verified to the payment of the bonds on
the order of the common council.
| One of the members of the Board in
speaking of the matter on Tuesday
evening said: ~ do not think that it
will be the aim of the Water Board
to interfere in any way with the plans
of the council for. the payment of the
outstanding indebtedness of the water
company. Of course such an action will
entirely disarrange the plans of the
commission and we will be forced to
abandon the plans for the building of
the new intake and we will probably
be forced to refuse to make some of the
extensions now petitioned for. The No
|
| crease the open account balance of the
Water Department but this money will
not become available until the first of
the new year and at that time it will
be impossible for the commission to
make any extensions of mains. We had
hoped that the council would not make
any changes in the plans for the retire
ment of the water bonds. The com
mission has from the first managed the
affairs of the water company in a. man
ner to make possible large increase in
the value of the plant and we desired to
allow the plant to work out it own
future. There is no doubt but that in
time the plant would prove paying in
vestment for the city along many lines
and it's profits in time would become
great source of revenue to the city.
However, it will now be necessary to
work out some other plan for the op-
Grafton of the plant. If the intake is
built it will be necessary for the city
to issue bonds not against the water
plant but against the city. The old
company organized to control the water
plant is a defunct organization and
there would not be any way for the
company to issue new bonds against the
plant.
1t is declared that the city will have
no trouble in calling in the bonds of
the company as nearly all of them were
sold through Eastern bankers and these
bankers have from year to year col
lected the interest on the bonds. It is
expected that they will be notified at
once to secure the bonds and have them
sent to the Northwestern Loan and
Trust Company for cancellation.
The retirement of the bonds out of
the profits of the company is one of the
greatest indications of the businesslike
manner in which the affairs of the
company have been handled under a.
non partisan commission. 1t is thought
that the Kenosha company is one of the
few municipal companies in the country
which has made possible the retirement
Of it entire bonded Indebtedness al
most fifteen years before the bonds be-
came due.
The future action of the commission
in regard to the management of the
company will be watched with a great
deal of interest by the people of the
whole city.