Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1917-09-07
SHALL CITY BUY
LIGHTING PLANT?
Continued from page /

ton sets forth that $4,000 of bonds
shall be issued and the balance be
| in mortgage certificates Of the city.
The price to be paid eventually will
he fixed by the Railroad Commits
sion's appraisements
The Ladysmith lighting plant is
now owned by the Ladysmlth Light
ling Co. whose capital stock and as
sets were sold by the former own
ers, Messrs. McGill and True, to the
Appleyard interests and now con-
trolled by L. e. Myers & Co. of Chi
cago, who also control the Big Falls
Power Co. Ashland Electric Light,
Power G. Street Railway CO., and
other plants in Wisconsin. The trans
fer was made in June the consld-
Grafton as stated at the council
meeting and confirmed by H. w.
True. to the NewsBudget, being
$41, 900. The property had been on
the market for some time and had
twice in the past gone through
bankruptcy
Buys Steam Plant
One of the principal assets Of the
company is contract with the
Menasha Paper Company for power
from the Menasha dam. The con-
tract is for five years each period,
and is renewable. 1t has two years
yet to run.
There was constant trouble last
winter. On Wednesday a deal was
closed by the Lighting Company to
take over the plant of Kenyon &
Young to use as an auxiliary when
the water power is too small. The
company will develop 100 h. p. there
selling so h. p. to Kenyon & Young,
and having available 100 h. p. for adj
ditional load at all times.
Law Provides for Purchase
The law of Wisconsin provides
that where a city wishes to operate
it's own lighting plant it shall not
build a second plant but if the plant
already in operation is willing to
sell a fair valuation shall be placed
upon it. In case of disagreement the
Railroad Commission fixes the value
based on the cost Of reproduction
and value of connections and Of the
plant in actual operation, the whole
to be valued as going business.
The city will have to go in debt
for the plant and if it acquires it,
will have to formulate plans and
methods of operation. 1t is the
stated belief of members of the coun-
ell that the city can save the users
of electricity a great deal of money
in the lighting bills. On the other
hand the lighting company owners
claim they already had a new SEIZED
ule of lower rates and if the city
felt the rates were too high, there
was remedy at hand in an appeal
to the Railroad Commission which
has the power to fix rates.
No member of the board believes
the Railroad Commission will ap-
praise the property at $4,000.
Increase Bonded Debt
The main question before the
people will be as to increasing the
bonded debt of the city. Under the
law the bonded indebtedness limit
of a city is five per cent Of the to-
tai Of taxable property by the last
assessment roll. For Ladysmith the
1917 roll is $2,055,591, permitting
bonded debt of $102,779.55. The bond
ed debt of the city is now $68,000.00.
There has already been discussion
as to going the limit on the indebt-
edneSs for a new school building
which everybody knows is an abso-
butte necessity to relieve the con-
gestion emphasized at the school
opening on Monday.
The present Indebtedness as shown
by the audit Of the Wisconsin State
Tax Commission for the year end
ing Dec 81 1916 is as follows.