Jersey City Buys Its Water Plant.

Jersey City Buys Its Water Plant.

Jersey City last week became the owner of the new waterworks at Boonton, when Mayor H. Otto Wittpenn handed to E. LeB. Gardiner, president of the Jersey City Water Supply Company, two checks aggregating $6,9112,000, drawn by the city against the First National Bank of Jersey City. Simultaneously the city closed up its accounts as a buyer of water by the million gallons by paying over to Mr. Gardiner a third check for $67,025.52, representing the amount due for water purchased by Jersey City from August 23 to October 10. The latter check was drawn against the Union Trust Company, of Jersey City. The consumation of the big water deal took place in the presence of two former mayors, P. Farmer Wanser and Edward H. Hoos, and many city officers and ex-office holders. Before Jersey City had paid out about $7,000,000 in checks, there was received from A. B. Leach & Co., bond buyers, of 149 Broadway, Manhattan, checks amounting to $0,933,745.28 for 6,776 bonds. After the ceremonies in the City Hall the bonds, packed in boxes and sealed, were brought to a safe deposit vault in Manhattan. The transaction was the largest financial deal ever performed by any municipality in New Jersey. The waterworks acquired are the second water plant owned by Jersey City. The first waterworks were built at Belleville in 1854, but those had to be abandoned in 1896 on account of the pollution of the Passaic river.

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