A SATISFACTORY CONTRACT.

A SATISFACTORY CONTRACT.

The Indiana Water company has leased the New Albany Water comnanv’s plant for thirty-five years at an annual rental of $10,250. This pays five per cent, on the New Albany’s capital of $232,950 and five per cent, on the plant. The lessees also pay the taxes on the plant and must keep it in good order. They will greatly improve the plant and put in a modern up-to-date plant from a series of deep wells emptying into a large basin at Market and Silver streets. The underground flow of water is inexhaustible. In addition to the six existing artesian wells, several more will he bored. The pipes of the two companies will also he connected, whereby the pressure will he increased throughout the city.

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