Leadership

Water Bonds and Construction.

Issue 4 and Volume 1892 12.

Water Bonds and Construction. THE loose and indifferent manner in which many water-works have been constructed hitherto in this country ought to be a lesson to investors that desire to place their money for the purchase of bonds to construct them. It occurs to us that if capitalists were more particular concerning the details of construction, the chances of loss by depreciation would be very much lessened. The Kansas City case is certainly one that is profuse in illustrating the points that we desire to bring out in connection with this subject. The controversy that exists between Kansas City and the National Works Company that supplies that city with water has led the people into a muddle, to the extent of adopting a plan of construction for new works which did not appear to withstand the investigation of experts on the score of being impracticable and very expensive. The result…

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