Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-03-08
'*$**|]*']7eVvV
LOCAL COMMENT

$<<<<<<<<<<<<<*%<<$<<+<<<*
The extension to st. Thomas hos
pital will approximate magnificent
new hospital for the city when It's
dimensions are really understood. IL
may cost in excess Of 100000 and
will supplant the present building
which will later become a dormitory
ana class room building for student
nurses. II IL one OF the reconstruc-
ton projects which has been held
back by the war until the growth OF
the city has made It's erection an
| urgent necessity,
House room must go to a premium
in this city and press house hunters
sorely to find homes before the gem
eral level OF rents rise to equalize the
new cost OF building. House rents
before the war failed to- pay per
cent upon the money invested after
repairs, taxes, insurance and de-
probation charges were met. Since
then the cost of building has gone up
so per cent Taxes, insurance and
repairs have all increased In cost and
the $50 per month house must now
rent for $50 per month to even up
with pre-war returns on investment
which were none too good. Properties
built before the war are selling AT
handsome advances over cost but not
much above cost of replacement.
When rents get up on higher levels
more investment building can. begin.
Home owners, however. can AFFORD
to 20 ahead with homes which they
expect 10 occupy themselves for it
VIII require several years i'm which tu
bring building costs down and the
comforts OF a home OF ones own are
worth the extra price.
=
People who are inclined to believe
that great saving can be made in
electric light rates by putting the city
under $3.50, 900 OF bonded debt to con-
struCt government ownership plant
and have two plants dividing the bust
ness of the city should examine their
own family budget. The owner of an
average eight room house and lot in
this city will have to assume share of
the debt equal to III per cent of the
taxes on his property. this year In
owning an average eight-room house
ard lot. this would be s91. whereas his
electric lights cost his family of five
a total of s2-.67 in the past twelve
months. His share of the city's debt
will be s9l in order TO save something
on a s21. light bill In order to make
10 per cent on the risk he takes on
his share of the debt he would have 10
cut his light bills 81 per cent If the
plant should cost more than the pro-
posed bond issue. or il government
ownership should not prove 10 be eco
nomical. he would fail to save on light
rates or he would have added TO his
taxes whatever was nominally handed
TO him in reduced electric rates
.
The alternative without govern
ment ownership plant is in the city
councils right to reduce rates. Present
war bonus on rates expires six months
after peace is declared. which would
he sooner than a new plant could be-
gin TO operate. Then the city council
can have the local plant appraised b..
its own engineers. can have access to
the local Company's books. and can
fair profit upon the company's invest
ment This profit will average . or
per cent higher than interest rates on
city bonds, but the original invest
! rnent in the plant itself will not have
to be paid for out Of its rates, as city
bonds would have to be and there is
always promise Of more economical
management in one large electric plant
serving all the city than in two smaller
plants doubling pole lines about the
city.
In case the city plant is voted and
built there will arise the street car
problem. Street car service is seldom
profitable in city OF this size. It does
not do much more than break even
now, when combined with the gas
business and the electric light and
power business all under one overhead
expense. II a government ownership
plant should force rates for electricity
too low, or If splitting the business be-
tween two plants should destroy legit-
innate margin for the Iowa Railway and
Light Company. we might be holding
mass meetings in Marshalltown to de-
wise ways and means to keep our
street cars running
=
A business man with taxes TO pay
and out for the cheapest service would
prefer to go after the company for
| rate reduction when the war bonus
| comes off instead Of taking on a noun
tain of debt for government ownership.
| Members Of the socialist party who
circulated the petitions always prefer
government ownership because that is
| the foundation of their faith.
Local Boys Get Appointments.