Municipalities Vs Private Corporations

Cover Municipalities Vs Private Corporations
Municipalities Vs Private Corporations
M J M Judson Francisco
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25, making a total of $18, 934. 25. Deduct from this the revenue, $14, 400, andit shows an annual loss of $4, 534. 25. Of course the bonded indebtedness will not be paid, and the plant each year is becom- ing less valuable. Finally it will be comparatively worthless, the bonds unpaid a floating debt, and no funds on hand, thus leaving the borough in a worse financial condition each year. It will be seen also that a large number enjoy water and lights which others pay for. '''' This councilman's... statement, as given above, shows a loss each year of $4, 534. 25, not including anything for depreciation or taxes, and this showing in- cludes the water works, which, we are told, when run in connection with electric lights, reduce the cost very largely. Such facts disclosed by a 98 member of the city council, in n discussion at one of their meetiu^^s prove very clearly that the reports sent out by advocates of municipal owner, ship and claiming that the business at Madison was a success are not in accoraauce with the facts or the true condition.

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