Norwich bulletin., 1912-09-11

Finaine-Thres Divoross. Granted on Tuesday--capt. Murray 5ravely Stops Runaway.
 The long awaited decision of the special water commission, appointed April to hear evidence and fix value at which the city of Putnam should take over the plant and prop erty of the Putnam Water company, was filed in the superior court here Tuesday.
 The conmission( finds the value to be $240,000. plus the value of such SUD- plies or piping as may have been ac- quired by the water company since the first of last January This is in excess of the S212,000 that the city of fered the water company for the plant but substantially less than the s30O, 900 price at which the water company held the property.
 Under the terms of the special leg islative act of the general assembly or 1905, either party to the proceed lngs have fourteen days to file rem onstrance against the accepting the report, such a remonstrance to be made to the superior court, and a longer time than the fourteen days may De agreed upon by the parties for the flling of such remonstrance If there should be such a remonstrance rom either party and the matter came up for a hearing in the superior court, either party has the right of appeal ing to the supreme court from the de- cision on the remonstrance. The terms of the special legislative act also provide in case of disagreement as to the value fixed for the property by the commission that has filed it's report for a re-hearing of the evidence before the same commission or anoth- CT that might be appointed.
 Whether or not there will be a re- monstrance. either from the city or the water company, could not be positively learned Tuesday, but from lnforma- tion gathered from city officials and attorneys in touch with the water company's side of the matter, there seemed better than an even chance that the value fixed will be accepted by both sides. This is. of course, un- certain, however, at the present time. The Commissions Finding. The important part of the text of the finding of the special commission. made up of Judge Silas A. Robinson of Middletown, Charles E. Chandler, C.E., | of Norwich, and Robert A. Cairns, C.E., | of Waterbury, is as follows; | Firsti That all of the property con- l tained In said schedules and described with more detail in the schedules set out in the defendants Exhibit 35, be- longs to the water plant of said Put | nam Water company, and should be sold by said Putnam Water company and purchased by the city of Putnam
 Second: That any property ins the nature of supplies or piping acquired | by the company since January 1, 1912, on hand or in use at the date of sale, shall, pursuant to a stipulation of | counsel, covering as well the value and | the amount thereof, be reckoned as a 1 part of the property of said plant, to | be sold by the defendant and purchas- l ed by the plaintiff at a valuation thus l determined
 | Third: The value placed by the committee upon the property to be sold | by said Putnam Water company and | purchased by the city of Putnam Is $240,000, plus such sum as shall be | determined to be the value of the supplies and piping, to be fixed by 1 stipulation of counsel as hereinbefore set forth.
 | Fourth: In reaching said valuation the committee has considered the character and location of the plant, I the community served by the distribu- | tion system, the value of the lands, the value of the site of the proposed ] storage reservoir, the value of the buildings, the value of the dam and its system of filters, the value of the machinery and distribution system, the defects, the changes needed for the reasonable improvement, and the prob able results of such changes; and also considered the expense of operation, and the opinions of the experts who testified.
 i Fifth: The committee has heard and
 considered the evidence concerning the
 cost of reproduction of the plant at
 the present time. and has also con-
 sidered that the plant is going con-
 cern and that it's distribution of water
 has been increasing. It has also talk
 en into account the earning capacity I of the plant, and its gross and net
 annual earnings (malking allowance
 for appreciation) up to the first day of
 January, 1912; and has also considered
 the fact that the defendant water
 company has an established business
 built up at the risk of private oapi- tai, after much labor, during a period
 of twenty-six years; and has further
 considered the powers of the state and its policies in dealing with public serv- ice corporations, as disclosed in the sections of the act under which this committee was appointed te act,
 Sixth; It appeared from the evi- dence that said plant or property k
 free from any mortgage, ineumbranct or lien.
 Seventh: The committee hereby de. termines that said water plant an( property, all of which property tn,
 committee finds is suitable for the bus
 mess of such water plant, shall b, sold by the defendant and purchased by the plaintiff. and that payment t } the defendant shall be the value O . said plant and property already deter ) mined, to wit-$240,o0 plus the valu . of the supplies and piping hereinbe : fore mentioned, said value to be f1xet
 as hereinbefore set forth.
 The committee further adjudicates
 Eighth: That the time of said sal
 be sixty days from the final, accept : ance of the report of the committee. F Ninth; That the real estate shal 5 be conveyed by the defendant to tn plaintiff by warrantee deed and tha
 the personal property shall be trans ferred by the defendant to the plain 1 tiff by bill of sale.
 Tenth: That the payment shall b | in cash, or certified check, or by tn
 delivery of such securities in lie
 therof as counsel for the respectiv
 parties may agree in writing to sub
 stitute therefor.
 Respectfully submitted,
 SILAS A. ROBINSON.
 I TJCN