The Marshall republican., 1913-11-07

'1't ttfh ~ iuiE uhbC
There are nearly zoo families get
ting The Use cf the water to the 200
families, VINO nave no me.ess--tbe
lattdf having t. help pay towards the
700 families who are using II.
believe II is about eleven years
that we have been running the iaun-
icipal water plant and there ia s,ill
q bonded indebtedness against the
waterworkS $4,000. A $4,000 note
against It and there IL some $1,000
owing on the general fund making a
total Indebtedness OF $4,000, now
ugainst y water works and they
are needing a new boiler, which vii
coai approximately $500 and I I'M
derstand the reservoir and wells
noed q thorough cleaning. which
ope alton would cost $500 more. We
haveA rs horsepower engine working
its capacity without any reserve to
fall back upon. Now | am talking for
your Information. ! am stating to
you the conditions which obtain now
when | say we need a 200 horse po-
wer engine.
There are 900 homes now without
running water-some have had Il
Put in during the present year-we
haven't the money to extend the
mains today, the money IL not In the
treasury. My pcint In to DO fair to
the poor man al well M TO the rich
man.
There are 74s light meters IN
town, $50 or these are in our bust
ness houses. churches and schools.
which would leave GOO for residents.
and I say We have more than 1000
homes.
We are taxing those who are not
getting the benefit; now as l said !
want to be fair in this question, we
are here for Information tonight and
I I'm putting those figures before
you.
Now the majority OF tho people
want to play good fellows. II Is not
fair 10 put a tax OF 3oc on 800
or four hundred 40 that 800 may get
the benefit OF the taxation. There is
n $4,000 issue OF bonds for our
high school not paid, We need a
colored school. We voted down an
$4,000 bond Issue n short time ago
for the building OF this colored
school.
am giving you these statistics
for you to think about. II the major
ity want municipal ownership ] am
right with you. II Is good enough for
you. II is good enough for me ana
! Will not feel hurt. I understand
the propositions made by the light
company are AZ reasonable as any
heard from. l an open to conversion
and II you a convince me that ]
am wrong ! am willing to submit. I
think I stated that to you this is an
open meeting. and AZ | said for get
ting information. and there will be
no Partially shown either side. but
with fairness TO the company this
meeting was called and I believe II
Is right to give them a chance to ex-
plain their position.
#. Gilchrist. President OF the Mis-
scuri Gas n Electric Service Co.,
was introduced by the chairman and
began remarks with a statement as to
the. amount of money which he'd
been Invested In the gas and elea-
trio properties in Marshall by the
previous owners: 500 = ..'
In regard 10 the mortgage OF 1905
MIR, Giichrist explained that the old
company had made an arrangement
very similar 10 the method which
would be adopted in securing a
building loan from q local bank.
Here the individual would purchase
a lot and then go 10 the bank and
give a mortgage on both the lot and
the building when completed. A
sertaiN amount ,af money would he
paid out by the bank and additional
pcney would be issued from time
V time as the building progressed
ana when II wassetidA&t u Tho bank
that there was property enough TO
warrant the additional loan. In
1906 the MARSHALL Light. Heat g.
Power Co. secured through the
Knickerbocker Trust Co. as Trustee,
a mortgage which secured not only
the existing properties, but any ad-
ditionsi properties that the COM
psny might acquire. and this mort
gage was drawn for the full sum
OF 100000. to include future inn
proycmonts, Under the mortgage
the Marshall company was allowed