Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-08-13
SNAGS SIGHTED
IN ACQUISITION
OFLAKE BY CITY
Park Commissioners Regard
Method of Financing
Not Practical.

/ Practical difficulties which the board
of park commissioners face in the pro-
| posed establishment of lake in the
gravel Pit of the Granite Sand and
Gravel Company. southwest of the Union
/ StockyaTds, have begun to appear. The
! gravel company has offered TO turn over
/ its holdings to the city as fast as the
/ lake is enlarged by gravel operations
( II the city will loan it 100000 at 4 per
| cent interest, to be repaid in twenty five
years. The land and water are located
| just north of Raymond street between
Kentucky avenue and Harding street
o. T. Owen, president of the Atlas
Sand and Gravel Company, which has
a plant Just south of Minnesota street,
about a quarter of mile to the north
west of the pit Of the Granite Sand and
Gravel Company, today pointed out what
he considers obstacles in the way of ever
making the Granite company's pit into
a lake with bathing beaches and facili-
ties for boating and fishing.
SEES DIFFICULTIES
IN Use OF LAKE.
Il am interested as a taxpayer" he
said "If the city wants a lake out here
l am willing to turn over my own pond
as fast as we get done taking gravel
out Of il but I don't believe either site
is fit for a municipal lake. for these
reasons; Within one-half mile of both
pits there is situated Sellers farm,
where the city has its garbage reduction
plant and night soil dump; Kingans
hair plant, the Smith Chemical Company.
the Rauh Fertilizer Company and the
stockyards and the odors emanating
therefrom seem to me to make it certain
that few persons would find pleasure
seeking recreation in their very midst.
Then to speak Of bathing in the water
in these pits is almost laughable. The
pits being from twenty five TO fifty feet
deep and fed by water from springs are
so cold that no one could swim in them
with pleasure or safety on hot days
there is layer Of comparatively warm
water about eighteen inches deep on the
surface but below that il Is very cold.
Fish taken out of my pond in mid-sum-
mer are hard in flesh, demonstrating the
low temperature beneath the surface
I am willing to turn over my water
10 the city, but I certainly don't con
slider it a fit place for folks to battle"
DISAPPROVE OF
FINANCING DEAL.
The board of park commissioners does
not approve Of the method 81 fnancirg
the deal which the Granite sand and
Gravel Company has proposed. since the
city can not loan money to firms or in.
dividuals in this wav. II is understood
that the board favors the purchase Of
the land from the company at price
Of 100000, then leasing It to the com
pany for exclusive gravel 0perati 1T
an annual rental equal TO the interest
and sinking fund charges on a boyd
issue for this amount. Thus the lake
would cost the city nothing, the com
pany agreeing 10 construct beaches and
banks wherever the park department
might designate.
On the surface II appears that this plan /
presents the city a splendid opportunity
TO get something valuable for nothing
more than the use OF the bonding lee
way Of the park department for a period
Of twenty Eve years. However students
Of municipal finance point ont r at the
only assurance tne ) hrs o. retanE ITS
annual pa ments from the company is
its continued profitable operation Of the
gravel plant If the company should go
out Of business for any reason or if con
di.iors should arise walch would make
it impossible for gravel TO be dug az
a profit the city might experience some
dIgicUlty in collecting. The park board
would, have to go on retiring the $500
90 bond issue regardless Of whether the
rental payments came in regularly.
WEST SIDE
INTERESTED.
ANY contract with the gravel company
undoubtedly would include pr0via .ous
for penalizing tho company in case Of
failure to meet its payments but the On
forcement Of such penalties is very likely
10 be costly to the city in the long run.
those who are studying the plF1 say.
On the other hand. a great many citi-
zens appear n favor the proposal some
residents n West indianapolis who nave
been fighting TO rid their district Of
what they consider nuisances are es-
pecially interested for the reason that
they believe that II the one big improve
ment can BE- established il will result M
the cleaning up Of its surroundings In
other words. they feel that If the lake
Is opened and hundreds Of persons start
gathering there from all over the city
the city administration viii feel bound
10 better the general sanitary conditions
Of the neighborhoOd These people hone
the park board viii give the idea, very
careful study TO the end that II he
worked out in q satisfactory manner.