Richmond Palladium (Daily), Volume 36, Number 267, 3 August 1911 — Page 4

PAGE FOUR.

THE RICHMOND PALLADIUM AUD SUN-TELEGRAM, THURSDAY AUGUST 3, 1911.

Tt3 mdaood Pallsdicm tzi Ssa-Telesrasi . , Pwbllahed and ownsd br th PAUUAXHUM FKINTIHO CO. (aava T days tMk woals. erantnsT Md undar momma-. Offie Cornar North ft and A atraata. Palladium and iun-TUsjrm Pnon BviImi Offto, SIM; Editorial Room". 1111. . nicauom. tmoiaka.

Rlfe a. B4ltwr Carl Im Aaawetate ttaltar ...... Nawa Kdlter SUBSCRIPTION TERMS, la Richmond .-ar year :ia advane) or 1O0 par waok. RURAL ROUTS On yaar. ta adranca lx BMBtha. la ahraaco Ob month, la advane Add.aaa ahanaid aa of tan aa da trad; tolh saw and Did addresses must fflVMfa MuMorlbar will plas ramlt with rdr, arnica should ba driven (or a apttclfled form: nam will not bo oator 4 aatiJ wrm..t reiv4. KA.IX, aUBBCRIPTIONfl. On roar, la advance I '; la montba, la advane Oa month, la adraao . Entara1 at Richmond. Indiana, ?ot ffle aa second clana mall matter. Haw Tork RpraentaMa Payne A Tseng-. - Wat Mid atreet. and tilt treat tlnd at root. New Tork. N. T. Chicago Repraeentatlvee Payn ' Tnuna. 747.141 Marquette bulldlctT. Chicago. X1L T. That Aaaoriatinai of Amer ffflHllea" Advertisers ha xV ' J attained anal cartifiod to th aircalatioa f this pnbligation. Thafigarea of circalati aontaiad in th Aasoctation's report onlr ar ajuarantaad. AssssSa of kmxk Advertisers No. 189. Whiteliall lU. . T. City TWINKLES A 80N08TER OF THE NIGHT "What make you say I am fonder ;pf dogs than of human beings?"' "Because," replied the nervous pericon, "If you cared anything about hu- ) man beings you wouldn't keep a dog." A CURIOUS RESEMBLANCE t "Mr. Oroucher is always complain)log that nobody understands him." "Such people,' replied Miss Cayenin, "are frequently like one of these old-fashioned riddles. When you get I ta answer, u reaiiy aoesn i seem 01 'much Importance." MELANCHOLY What e'er they sing of autumn gray. With gloomy and foreboding lay In labored rhymes displayed, - ' The melancholist days are those When the thermometer arose To ninety In the shade. A SCIENTIFIC QUE8TION "Nothing Is ever totally lost or destroyed," aald the professor of physics. "In that case,' said the simple and frank person, "how do you explain the fact, that everybody loses umbrellas and you never meet anybody who has found one." A SURPASSING ORDEAL "I have been trying to umpire a game of base ball," said one summer boarder... That's easy," said the other. "They asked me to decide a disputed point In a game of corquet.' A SURE SURVIVOR ... Though crops may fail from year to year And leave us very sad, .There's one fruit, It doth appear, That's always to be had. ,ln apples, peaches and in pears A shortage may be found, But constantly in life's affairs The lemon's passed around. .It greets the simple sighing swain, It scares the soldier bold. It bids the statesman oft complain And In finance tls sold. Though drought and bug may prowl about . This sturdy fruit prevails; Tie always freely passed about; The lemon never fails. This Is My 75th Birthday AUGUSTUS H. 8TRONG "DrTAugustua II. Strong, who Is soon to retire from the presidency of the Rochester Theological Seminary after having served for forty years as the head of that Institution, was born in Rochester, N. V., August 3, 1836. He was graduated from Yale college In 1867 and later took a course in theology at Brown University. From 1861 until 1865 he was pastor of the First Baptist church of Haverhill, Mass., and during the seven succeeding years He occupied the pulpit of the- First Baptist church in Cleveland. In 1872 IM was called to the presidency of tha Rochester Theological Seminary and during the many years he has continued in that position the seminery has advanced to the front rank among tha theological schools of America. Dr. 8trong Is known as a prolific and abla writer as well as a leader among eduactors. He has served as president of the American Baptist Mission aa MfilAti ahvtjt kaa fAMAirAl m eaa J uuivu aa4 una ctv t cu uvuvi J degrees from Yale, Princeton, Cornell, and other of the prominent universi ties and colleges of the country. An lnexivi. .-uy: fellow was called upon to make a speech at a bau quet at which Speaker Cannon was present In fact, the speaker sat next to the young man. "Gentlemen," began the young fel low, "my opinion Is that the generality of mankind in general Is disposed' to take) advantage of the generality of The speaker grabbed the boy by the am and, pulling him down to him. aald: "Sit down, son. Too are coming ont of the same hole you went in." Ex change.

Value of the Water Plant 1" The Richmond City Water Works was organized originally for : $250,000.00 capital stock and issued 6 per cent bonda for $200,000.00, - later the bonds were refunded by an Issue of $250,000.00. 5 per cent bonds. At a later date $125,000.00 in stock was issued making a total $375,000.00 July 1, 1909. This amount has since been increased to I $500,000.00 The physical value of the plant July 1. was $596,892.64 ac- : cording to the report of Mr. Maury whom the city employed in 1909 to ' estimate the value of the water works plant. The Palladium prints herewith a financial statement of the Richmond i City Water Works taken from the report of Mr. Maury which was ' made on the plant July 1st, 1909. This statement gives original invest- ' ment and the amount that has been added from time to time. ' Following that. Is a statement of the estimated earnings of the com- ; pany during the following' periods: July 1st, 1909, to July 1st, 1910. July 1st, 1910, to July 1st, 1911. July 1st, 1911 to July 1st, 1912. The clause in the proposed contract of the Richmond City Water Works that gives the city the right to share in the earnings of the company after certain deductions have been made, follows. From these state---ments the amount the city might receive from the rights granted under the proposed contract, may be estmated. FINANCIAL STATEMENT ASSETS.. July 1st, 1909 Cash on hand $ 18,670.02 Water rentals accrued J7.220.29 Meter rentals accrued 1,604.75 Pipe and fittings 3,095.93 Tools and supplies : 802.65 Miscellaneous 1,512.89 Mains and hydrants 74,930.10 Service taps 1 31,405.33 Meters 29,635.96 Water collecting system 57.248.27 Machinery and equipment 34,446.62 Gas and electric lines 1,049.39 Reservoir 14,035.48 Buildings 12.328.36 Real estate 6,483.76 Water rights and right of way 17,721.94 Preliminary expense .. 47,891.57 Original investment 283,216.04 Assets Ttoal $653,299.35 LIABILITIES Deposits on Meters $ ,236.23 Interest accrue on bonds 2.604.17 Bonds outstanding 215,000.00 Capital stock issued 375,000.00 Total liabilities $592,840.40 BALANCE SURPLUS, July 1st, 1909 $ 60,458.95

ESTIMATED July 1st, 1909, to Hydrant Rentals Revenue from consumers Operating expenses Net Income July 1st, 1910. Hydrant rentals Revenue from consumers

$ 81,200.00 Operating expenses 28,200.00 Net income $ 53,000.00 July 1st, 1911, to July 1st, 1912. Hydrant rentals $ 15,700.00 Revenue from Consumers ... . . 68,200.00 83.900.00 Operating expenses 29,300.00 Net income $ 64,600.00 PROPOSED CONTRACT SECTION XIV. That Section 30 of said ordinance be and the same la hereby amended so as to read as follows: Section 30. It Is agreed between said water works and said city that the value of said plant and system as it existed on the 1st day of July, 1909, was $700,000, and that said sum shall be and is hereby taken as the value of said plant upon said date as the basis for the valuation of said plant for the purposes hereinafter set forth. The valuation of said water works plant and system for any given year shall be ascertained and f xed by deducting one per cent, from the amount of such valuation as txed at the beginning of the previous year, for depreciation, and by adding to said valuation the amount of extensions and betterments made during such year, together with all other Items of appreciation of said plant and system, and the net amount thus ascertained and fixed shall be the valuation for the year to be computed. . Extensions and betterments shall be valued at the actual net cost thereof, to be escertaincd and fixed as hereinafter provided, and from the net cost of all betterments which consist wholly or in part of replacements or renewals shall be deducted the fair value of the part replaced or renewed, if any. Said city shall participate in the earnings of the water works in the following manner. The gross income arising from the operation of said water works and system shall be used, applied and paid out as follows, to-wit: First: Said water works shall first pay all expenses of operating sad works and system and of maintaining the same in a state of efficiency, including taxes, salaries, expenses of making valuations and all other expenses of every kind and character necessary. Second: Said water works shall next set aside each year a sum equal ' to one-half of one per cent, of the valuation of said water works and system fixed and computed in the manner hereinbefore set forth, for the purpose of creating a fund to cover replacements and renewals of said plant and also for emergencies and accidents. If, at any time, said water works shall determine that said sum so set aside for replacements, renewals, emergencies or accidents shall not be sufficient to meet said expenses and then said water works shall have the right to increase the right to increase the rates charged for public and private consumption of water, so as to cover the necessary increase In said fund, and said' city shall agree to a reasonable increase of said rates, as aforesaid. Third: Said water works shall next create a depreciation and extension fund by sotting aside each year ouf of its gross income a sum equal to one per cent of the valuation of said plant, to be determined as provided herein. Said fund shall be used for the purpose of making extensions and for much betterments as shall not be paid out of said replacexnent and renewal fund. . . .. Fourth: Said water works shall next retain out of its gross income and pay, as the same falls due, the Interest on its outstanding bonded Indebtedness at the rate of five per cent, per annum, payable semi-an-;. nually. - '. . , . x - , Fifth: Said water works shall next retain out of its said gross income a sum equal to six per cent, upon the amount remaining after deducting from the total valuation of its said plant and system fixed In the .manner hereln.provlded. the total amount . . of , it bonded indebtedneasL

RECEIPTS June 30, 1910 $ 15,300.00 63,200.00 $ 78.500.00 $ 27,100.00 $ 51.400.00 to July 1st, 1911 $ 15.500.00 65,700.00

which aald remainder is hereinafter called "net valuation"; and said six per cent, so computed shall be paid by said water works to its stockholders as dividends. "J Sixth: The amount of the said gross income of said water works remaining after all of said payments and deductions shall have been made therefrom, shall be equally divided between said water works and said, city, and one-half thereof shall be retained by and shall belong to said water works and 6hall be paid by it to its stockholders as dividends, and the other half thereof shall be paid and shall belong to said city; provided, however, that in the event the aggregate amount to be retained by said water works as dividends in any year, as hereinafter provided, shall exceed eight per cent, upon the "net valuation," to be ascertained as provided in clause five above set out, then the entire excess over the amount necessary to pay said water works said dividend of eight per cent, per annum upon such net valuation shall be paid and shall belong to said city. If the rates for water service as fixed by this ordinance shall not furnish a net return of six per cent, on said valuation to said water works as herein provided for, said rates shall be increased by said water works so as to provide for such return. All settlements between said water works and said city shall be made on the first day of July of each year, and all revenues due the city as stated herein shall be paid to the city treasurer on or before the 20th day of July of each year. Said water works shall furnish said city with a full report of its financial condition at the end of each fiscal year, towlt: the 1st day of July, and shall permit the city to examine its books and records in reference to its income and expenditures, for the purpose of verifying said reports. If, at the end of any fiscal year, the valuation shall show an increase in the value of said plant and system, the said water works shall have the right to issue additional stock to the extent of such increase in valuation, and the city shall have the right of purchasing at par all or any part of such stock within sixty days after the same is issued. Said additional stock shall be of the same kind and denominations and be issued under the same terms and conditions as the other stock of said water works, excepting that said additional stock shall not have any voting power if issued to, or acquired by, said city, until said city shall purchase the entire plant and system of said water works, as provided herein; provided, however, that said stock shall, from date of issue receive dividends from the revenues of said water works on the same terms as said other stock. Said city shall have the right at any time to purchase the plant and system of said water works, upon giving at least six months notice in writing of its intention so to do, at a fair valuation, considering said plant and system as a going concern, to be determined in the following manner, to-wit: by three competent and disinterested water works engineers, who shall be non-residents of said city, one of said engineers to be selected by the city, one to be selected by said water works and the third t be selected by the two engineers so selected. In case of failure of sai4 two engineers selected by said city and said water works to agree upon a third member, the judge of the Wayne Circuit Court of Indiana shall select such third engineer, and the three shall then proceed to make a valuation of said plant and system. Said committee of appraisers shall as far as possible comply with the provisions of this ordinance in fixing the valuation of said plant and system. Upon the delivery of duplicate copies of a written award signed by two of said committee of appraisers, fixing the valuation of said plant and system, as provided herein, to the city clerk of said city and to said water works, said award shall be conclusive between said city and said water works and shall be taken as the true and correct valuation of said plant and Bystem for the year when made; provided however, that said valuation shall be made at the time when said purchase is made. Said purchase shall be made for cash and said city shall pay to said water works the amount fixed by said valuation, with six per cent, interest thereon per annum from date of said appraisement and within three months from the date thereof, less the par value of any stock which may be owned by said city at said time and the amount of the bonded indebtedness of said water works, and shall, in addition thereto, assume and agree topay all of the bonded indebtedness of said water works; and if, for any reason, said city shall not be able to legally assume and agree to pay said bonded indebtedness, then said city shall not have the right to purchase the plant and system of said water works. In case of purchase, the city shall perform all unfinished contracts for furnishing water, and if said water works shall have received the considerations for such contracts, there shall be deducted from said purchase money such proportion of said consideration as the unexpired term of such contracts shall bear to the whole term.

PRESENT CONTRACT Section 30. The city shall have the right, at any time, to purchase the works at a fair valuation, without bonus or per cent, added. Said valuation to be determined by appraisers selected for the purpose, two to be chosen by the water works and two by the council, all to be disinterested either for the water works or the city. In case the city and the water works fail to agree upon appraisers, then the judge of the Wayne circuit court shall, upon application of either party, appoint the said appraisers, and said appraisers shall act under oath, and shall at their option, or at the request of either city or water works, examine non-resident experts under oath as to the value of said property. When the majority of said appraisers fail to agree, they shall appoint a fifth, whose qualifications shall be the same as those of the original appraisers. Said appraisers shall, in the appraisement of such works, take into consideration any unexpired contracts in their estimation of such value. When such appraisers shall have completed the award, the said city shall pay said water works, in case they shall have determined to purchase, in cash, the sum 60 ascertained, with eight per cent, interest thereon per annum, from date of said award of appraisement, within three months from date of said award. In case of purchase, the city shall perform all unfinished contracts for furnishing water except where said water works have received the consideration for such contracts, in which case there shall be deducted from said purchase money such proportion of such consideration as the unexpired term of such contracts shall bear to the whole term. 'ON EQUALLY AS GOOD TERMS?"

All EHEMUF DUST Street Flusher Will Abate the Nuisance. After numerous efforts extending over a period of several years to find some way to abolish the dust nuisance caused by street sweepers, city officials have reached the conclusion that a street flushing machine is the only feasible remedy. During the past two or three years numerous complaints have been made by residents and pedestrians by the dust raised on Main street by the sweepers. The air on a number of occasions has been completely filled with dust. This is considered by local health authorities as very injurious. t The street flusher which the board of public works has had under consideration is said to be both efficient and economical. It is built on the order of a sprinkler, and has a tank with a water capacity of 600 gallons. The tank is mounted on a four-wheel truck and the streams of water are forced against the surface of the pavement under air pressure sufficient to re

move all dirt The street is washed

and the dirt deposited in the gutter. The duft problem has interested city officials since the purchase of the street sweeper. With the paving of North E street and ,,North D, and Eighth street from North to South A, Main street and Ft. Wayne avenue, some kind of a flushing system is badly needed. Members of the board of public works will go to Cincinnati next week to Inspect a flusher. NOTICE The Lutheran Home Circle of St Paul's church will meet at the Glen tomorrow afternoon at 2:30 o'clock. Members are requested to bring lun cheon. In case of rain, the meeting will be held in the chapeL Palladium Want Ads Pay. WANTED Men and teams for street work on North D St. Inquire on the street.

HOME onPAYMENTS Like Rent, $5X0 per month; reliable party only. R. R. man preferred. Almost new 5 room house. No. 2221 North F near Glen Miller; small cash payment required. Telephone 1730 Oo It Now

"THIS DA TE IN; HISTORY '

AUGUST S 1777 Fort Shcuyler, at the head of the' Mohawk river, invested by the British. 1797 Sir Jeffrey Amherst, the British general to whom Montreal surrendered, died. .Born Jan 29,1717. 1821 Uriah H. Stephens, founder of -the Knights of Labor, morn near aCpe May, N. J. Died Feb. 13, 1SS2. 1830 -The first vessel by way of the Walland canal arrived at Oswego, N, Y. 1848 Telegraphic service established between Toronto. Buffalo and Montreal. 1848 Woman's rights convention at Rochester put forth a claim for suffrage. 1858 The Victoria Nyanxa discovered by Captain Speke, 1861 Joint protection was offered by Governor Gamble and the Federal government to Missourians in arms who peacably returned to their homes. 1877 William B. Ogden, first mayor of Chicago, died in New York city. Born in Walton. N. Y., June 15, 1805. 1889 John Pobson sworn in as premier of British Columbia. 1893 Currency was bought and sold at a premium In New York city.

All AEROPLANE AND HORSE RACE MEET Driving Park Association Plans Big Event the Latter Part of August. With two of the famous Wright aeroplanes from Dayton, O., and many fast horses, the Richmond Driving club promises to give Richmond sport lovers a treat like they have never had before. The plans will be completed at the meeting of the board of directors of the club Friday evening. The big event will be held at the driving park the latter part of the month. Many fast horses from all sections of the state will be entered. The purses are large enough to be attractive and some good events are anticipated. Dr. J. H. Kinsey will probably go to Dayton next Monday where he will endeavor to enter into a contract with Wilbur and Orville Wright to have two of their aeroplanes give exhibitions. Former Local Men The Wright brothers are well known in Richmond. They lived in this county several years and received their common school education here. They have been in the aeroplane business for a number of years and have won international fame as aviators, taking many prizes both in America and in Eurpoe, so that ther will be no question as to the quality of the exhibition which will be given at the driving park, if the Wrights will enter into a contract tl 1b understood ther will be some difficulty in securing the Wright machines at this time owing to the great demand for them all over the country. The horse races will be the best ever seen in Richmond, in the opinion of the board of directors. No expense will be spared In securing the best and fastest horses. Much interest has already been manifested in the meet from other points as many inquiries have been received asking for the date and conditions of entering. Because of the small facilities which the club has for entertaining the visiting horsemen at the park, the number of entries will be limited. At present there are just two barns at the park which will accommodate about 25 or 30 horses. If there is enough interest taken in the meet to justify the expenditure of money a complete and modern racing stable will be constructed by the club so that next year severaL days fo racing can be held. The purses will range from $50 to $100 although this amount may be increased before the event The track is in excellent condition. It is being worked over daily and is in almost perfect condition. Work will start immediately to put it in condition as in former days when it ranked among the -best tracks in the statae. Quit Often. Flgg Two negatives make an affirmative, you know. Fogg With a woman it takos only one. Exchange. CHILDREN WHO ARE SICKLY Mother who ratue their own comfort and tha welfare of their children, thou Id nerer be without a box of Mother Gray's Sweet Powdera for Children, for ne throughout tho eeanofi. ThejrBreaknpColda, Reliere Feverishnevs, Constipation, Teething Disorders, Headache and Stomach Tronhlee. TJsed br Mothers for tS year. THESE POWDEKS NEVER PAIL. Sold by all Dm Stores, sc. Oon't aa-rpt any tnhtHtvt. Sample mailed FliKK. Address, Alien 8. Oaasted, Le Boy. N. Y.

THE CHESAPEAKE A OHIO RAILWAY OF INDIANA LEAVING TIME OF TRAINS AT RICHMOND, IND. Effective July 9, Westward; July 10, Eastward Subject to Change Without Notice 7:13 p. m. DAILY, Limited for Cincinnati, Washington, Baltimore, Philadelphia, New Tork, Richmond, Norfolk, Virginia, and North Carolina points. 8:45 a. m. WEEK-DAYS Local for. Cincinnati, connecting with P. P. V." Limited for the East 7:33 a. m. SUNDAYS Local for Cincinnati, connecting with F. F. V. ,. Limited for the East -4:15 p. m. WEEK-DAYS Local for Cincinnati. 7:15 p. m. SUNDAYS Local for Cincinnati. -12 : 00 Noon DAILY Limited for Chicago and West ' 10:40 a. m. WEEK-DAYS Local for Chicago. 8:10 p. m. WEEK-DAYS Local for Chicago. - - . 10:25 p. m. SUNDAYS Local for Chicago.' Sleeping, Observation-Parlor, and Dining Cars on Limited Train-V -Sleeping Cars on Night Traina. . '

WHAT OTHERS SAY

From the New York World." For a long time past there have been complaints of the exclusion from public resorts of men in the uniform of the army or navy. Three such tales appeared in the news of yesterday. In one case two soldiers were debarred from a dancing pavillion at Coney Island. In another a militiaman was excluded from a dance hall at Asbury park. The third tale was told In a letter from a correspondent citing the exclusion of bluejackets from a Broadway theater last spring. Protests against outrages of this kind are natural enough. Instinct would prompt them were nothing but sympathy Involved. The uniform of the military and of the naval service ought to command respect in all quarters. To make the uniform the cause for excluding any well behaved man or set of men from places of public amusement shocks popular aentiment and rouses indignaUon. A DANGEROUS CHARITY From the Philadelphia North American. A western public service corporation is giving free electric fans to invalids too poor to buy them. If an eastern corporation were to do that it would be very dangerous, providing any of the invalids had weak bearta. NEW MOTOR LAW From the Omaha Bee. Nebraska's new motor vehicle law requires automobiles to come to a full stop at intersections where street cars are loading and unloading passengers, and not to start again until the car starts. This requirment properly applies to motor cycles too. It drivers will obey it a lot of accidents will be prevented. ; ANYTHING UNCONTRADICTED, From the Indianapolia Star. If there is any Lorimer testimony that has not yet been contradicted point blank by ' some able testifiers it must be merely that the matter has been overlooked In the general confusion. WHOLESALE EATERS From The Chicago Tribune. Perhaps the reason farmers get cheaper meals at country hotels than travelers is because, having better appetites, they are allowed wholesale rates. -. ' -'x PLENTY OF TIMBER From the Pittsburg Dispatch. And now Alabama offers Chairman Underwood as a favorite son. That Democratic national convention la going to be a hummer. HE TOOK A TRAIN From, the Chicago News. Mr. Taft had reason to wonder how the Bull Run refugees ever got back to Washington. ' CLARENCE HADLEY MEAT MARKET PHONE 2591 COR. 13TH & MAIN WANTED YOUR MACHINE 4 AND REPAIR WORK BALLINGER GIBBS MACHINISTS a REAR 220 LINCOLN 8TREET Phone 3040 or S15S WONT THE CHILDREN SMILE when you treat them to a glass of our lemon soda, root beer or other soft drinks. It will be as good as a party to them. Have a few bottles in the house to reward them when they are good; and they'll always be good if jthey know such a treat is in store for them. Shall we send you a case? Foster Dottlino Torbs Mfgra. of Ginger Ale, Orange Cider, Soda Water and Bromo-Hygeia Phone 2191 118 N. 7th street