NEW ALBANY WATERWORKS.
There seems every probability that New Albany, Ind., will soon purchase the waterworks system on such terms that the receipts from the consumers and the saving in the annual rental for fire protection will make it possible to pay for the property without levying a cent of additional taxation. the system was established nearly thirty years ago, and it consists of between twenty-five and thirty miles of pipe, sixteen-inch to one-inch, together with a fine pumping station and four reservoirs on the Silver Mills. Within the last few years the company has constructed a large reservoir with a capacity sufficient to furnish a ten-days’ supply to the city and in addition has made other expensive improvements. The total reservoir capacity is 22,500,000 gallons. The source of supply is the Ohio river, and the system is pumping to reservoir by two pumping engines with an aggregate capacity of 4,000,000 gallons. Nearly 200 hydrants (twelve D. Wood & Co.. Ludlow) are set in the city, and only a few meters (Crown, Hersey, and Worthington) installed. Two years ago a franchise was granted by the common council to the Indiana Water company, and a contract was entered into by that corporation to furnish water to the city. Shortly after the majority of the stock of the New Albany Water company was purchased by a syndicate of Chicago capitalists. The majority stockholders then leased the plant to the Indiana Water company—a proceeding which failed to meet with the approval of the minority stockholders, who thereupon instituted proceedings in the United States District court. A receiver was appointed and took possession of the property. A few weeks later the United States Court of Appeals at Chicago annulled the appointment of the receiver, and the property again went into the hands of the majority stockholders, who are now operating it. The matter is still in litigation; but, if the system could be soid to the city for $500,000, as may probably be proposed, the interests of all would be amply protected.
The city council of Wichita. Kan., has notified the local water company that it expects to purchase the waterworks plant and system at the expiration of the company’s franchise, which will be in a year. A provision in the contract with the water company provides that the city may purchase the plant by giving six months’ notice of that intention.