Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1918-01-18
MUNICIPAL OWNERSHIP OF THE
LIGHTING PLANT

l
/ 1t has finally been decided after a
deal of discussion that the people OF
/ the city Of Ladysmith will be allowed
| to vote on the question of municipal
ownership of the electric lighting
plant At mass meeting OF the cifl-
| zens held on Saturday night at which
a representative body of the voters was
present. the vote for holding the cleo
ton was overwhelming. When the
mayor asked those opposed to the cleo
ton to rise not one got up. Even the
superintendent of the lighting plant
| for the Chicago owners did not rise.
| The council has started the neces-
sary legislation for the election and
the date will be fixed for sometime in
| February
The annual report of the lighting
company. showing the figures of profit
for the first half of the year. has con-
| vinced the most skeptical that it is for
the best interests of the city to buy
| own and operate the plant. The plant
cost the Chicago owners $4,000. They
are making almost $4,000 a year on
| the investment. In four years the peO-
pie of the city will pay for the plant
| for these Chicago people. If that
profit were distributed to the city,
there would be no necessity for taxes
| for city power or city lights. Ii the
| light rates were lowered 20 per cent.
| there would still be enough left to pay
all the city's light and power cost and
have dividend. Income would also
pay the interest on the bonds neces-
sary. and leave a small margin for a
sinking fund.
/ If man could borrow money at s
per cent and invest it in the lighting
plant. he would at the present rate of
profit pay the banks interest and
make clear margin for himself OF Is
per cent. Pretty good when he has
not got dollar of his own money i'll
vested That is just what the Myers
company is doing with the taxpayers
money only the taxpayer is not get
ting the s per cent of interest. The
Myers company made % per cent on
the investment, as was shown by the
figures read from the annual report
at the mass meeting. on the $4,000
they are supposed to have in the plant.
All the talk of inadequate power and
what is going to happen when the My
ers people get Big Falls developed, is
sheer nonsense and injected in either
by the attorneys for the lighting COM
pany. or the company itself, for the
purpose of clouding the issue and Sc
curing delay. We know that the COM
pany is making big money on small
investment with the power they have
now. That power is equally as avail
able for the city as for the owners in
Chicago And no one has heard of the
Myers company threatening to give up
he soft thing they have here because
some day they may not have power
enough to provide current for the de-
mands of the growing city. Long be-
fore that time comes to the city, the
enormous power of the Flambeau ada
cent to Ladysmiith will be available.
But that is not the issue 1t is simply
good investment for the city to own
the plant 1t is good thing for the
people to own and control the public
utilities where there cannot be COM
petition.
People of the city are taxed today for
the amount of money paid to the light
ing company for city lights and other
service. Only small proportion of
that sum ever gets into circulation in
Ladysmith 1t is sent to Chicago and
there spent.
What the people will say to them
selves is: Here is an opportunity to-
become stakeholder in q company
that pays dividend OF % per cent.
want to be in ON that. Hence | will
vote myself share of that stock
Therefore the vote is yes"