The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-07-28

NJ. ]. O'Brien. the watch dog of the
city treasury. was called upon by May
or Zimmerman. He arose and tartly
stated. II don't believe the Campfeld
company has anything to sell. 1t simp-
ly wants a commodity to sell to some
one else. 1t wants that commodity do
mated by YOU"
Called II Absurdity.
He then pointed out the absurdity
of the city giving away so valuable an
asset His point was that In the town
ship the company had to purchase its
right OF way. In Richmond 1t uses the
city streets and pays nothing for this
privilege excepting in taxes on it's
property. I believe the city should as
certain the total number of square
feet occupied by mains In this city and
that the city should be paid for this
space, just the same ~ the company
DAYS TOR . private right Of way.
It 10 time to call halt on the city
borrowing money. he said. His Illus
tration Of this was that in three years
the city will pay on $4,000 on which
1t has paid $4,000 In interest. On ev-
cry dollar taken In IN taxes the city
pays 6h per cent out In interest on
its borrowed money. or 5000 year.
To borrow money to acquire copart-
nership In q water works company,
Mr.. O'Brien said would mean the taxes
of Richmond would jump beyond the
legal tax rate. $1.25 per 800.
He called the administration atten-
ton to it's pledge to be an economic
administration and to pay the city's
debt. not to involve It in more indebt-
edness.
Mayor Zimmerman declared that
both Mr.. Genpett and Mr.. O'BTien had
voiced sentiments OF the administra-
ton and he said that while the admin
istration had not before made known
its intentions. it had been the idea all
along to hear both proposals and then
get together on the propect He said
consideration, the ownership of the
plant second. He says that the city
wants to own the water works plant
and in time it will own the plant with
out involving iself in any great In
crease in tax or the borrowing OF mon
Iey.
Rejection 10 Expected.
In view of the fact that the admin
istration does not favor the optional
clause of purchase of the Campbell
company and hnds great objection to
the rates proposed by the r. c. c. W.
w. Co. II is taken to mean that eveg-
tually the city will reject both propo-
sails and readvertise for bids. Tho
time consumed in the arguments on
the Camrfield proposal was nearly two
hours and Howard Dill. superintend-
ent, and c. e. Shiveley. attorney for
the Richmond City Water Works COM
pany. asked their hearing be postpon-
ed until next week. Wednesday even
ing likely will be the time set for this
hearing.
While Attorney Lindemuth held the
floor, he had occasion To refer to Sec
retary Jordan's estimate of what the
city would pay for the plant by the
Campfleld plan. The secretary OF the
Commercial Club figured 1t would be
in the neighborhood of s.. 500. 600 and
Mr.. Lndemuth commented. such ng-
ures are always interesting"
!, Shortly afterwards city attorney
Gardner interrupted with the state
ment that under the CampneId propo-
sal the city's Investment would pro-
portionately be larger than the COM
pany's and it's profits proportionately
much smaller He dismissed the Ques-
ton by saying the city would hardly
take stock on such terms. He said
there is possibility that the city
would lose all by stock juggling and
manipulation The fact that the city
would become a co-partner by the
Campfield plan does not preclude the
possibility OF the sale of the plant
within twenty i've years by the COM
pany. In such q case the city stood to
loose what 1t had invested each year.