The Marshall republican., 1913-11-07


During the year 1910 to 1918 the
New York people advanced in cash
for the improvements and better
ments that we're necessary in those
years the sum Of $4,000.
This would Indicate that the. i'm
provements from 1905 to 1918 were
put into the property at the rate OF
about $4,000 per year.
That this Is a fair amount for u
growing property Is evidenced by the
fact that the present company, in
the nine months OF 1918, has actu-
ally advanced for permanent ~inpfov-
ements and betterments the amour,
OF s7140.15, or at the rate, for bois
the gas and electric properties, OF
10000 per year. CMr. Gilchrist
here stated that all OF the vouchers
for these expenditures, will this
week be ut the company's office and
could be there inspected by anyone
Interested in the matter.) These
improvements were made in spite
OF the fact that the company, on ac-
count OF It's franchise not having
been renewed, has attempted TO cut
this amount to the lowest possible
figure, whereas at Lexington. where
the company has both the gas and
electric franchise and Investment Is
being made ut n normal rate, about
100000. The above amounts, taken
together with the amount OF money
put into the plant year by year on,
OF earnings, gives a total we'll In
excess OF two hundred thousand
dollars or actual cash invested In the
gas and electric plants.
Mr.. Gilchrist then showed that
the company had assumed 5000, 900
worth OF outstanding bonds on the
Marshall and Lexington plants and
In addition had assumed 800. 900
OF floating Indebtedness then out
standing against the gas and electric
plants In both cities, but that this
outstanding Indebtedness was not
divided between the two properties.
lie also pointed out mat the Mar
shall people very often lose sight OF
the fact that In these figures both
the gas and electric properties are
being considered and that the a.
mount OF money, when the allowed
statements show have been put into
these properties. In not excessive rs
shown by the estimate which the
city itself IL using as n basis for It's
bond issue.
Taking the estimate OF the City's
Engineers as n basis. an electric
light plant. designed to do all, that
ia now being done by present plant.
will cost $4,000 and all OF the dis
tribution system and wires are over
head. then the gas properties, wherv
all OF the distribution system anc
pipes are underground. must p-
equal to a like sum, making a total
OF the real property for both gas
and electricity In the city OF, Mar
shall worth at tho lowest possible
estimate. 100000. Our own en-
gineers have told the citiSehs
that such an electric plant cannot DO
built for the city OF Marshall for less
than 500. 900. 30 that the differ
ence between the two estimates a y
to the total value or the gas ana
electric properties In Marshall Is
entirely a matter OF opinion, and
when you take Into consideration
the fact that the city engineer prop
osed to design a modern plant Ia
one unit and that the company y
plants both for gas and electricity
have been built one part ut a time
at an additional cost. therefore II is
more than likely that the estimate
OF the company's engineers more
nearly represents the investment
necessary than does the estimate OF
the city.
Mr.. Tucker reviewed the proceed
ings OF the city council and stated
the steps that had been taken by the
council to obtain information upon
the subject under consideration. One
of the points he made against nun
icipal ownership was that It required
every taxpayer whether he used cleo
trtc light or not to pay his proper
|ttpn on the purchase price OF the
pant or tho tax OF 80 cents on the
one hundred dollars valuation. while
Oh the other hand n the case OF a
privately owned plant the consumer
paid the expense.
Mr.. Tucker made an address OF
considerable length but we are un-
able to correctly reproduce from mem
DRY the points upon which he touch.
-. "a.