Jasper County Democrat, Volume 13, Number 33, Rensselaer, Jasper County, 3 August 1910 — WATER PLANT GENEROUS. [ARTICLE]

WATER PLANT GENEROUS.

Richmond Company Offers Concessions for Franchise Renewal. Richmond', Ind., July 30—The Richmond Water Works Company, which, within the next yea*, will have to obtain a new franchise from the city, and whidh also desires to renew its contract with the city for fire hydrants, to-day made it known through one of its officers that it will make valuable concessions to the city in return for a renewal of franchise ,and contract. In the first place, the company ' will agree tp sell outright to the city for $700,000. The company agrees that if the city is not able to purchase at a fair valuation of the plant to be determined, that

after stockholders receive- 6 per cent, dividends annually* the city treasury shall receive one-half of the net earnings over and above the 6 per cent. In the event that the water company’s dividends slhall reach 8 per cent, on the total valuation the city will receive all of the excess profits. It is understood that the company will make a direct*offer of this nature to the city within he next few days.