27th Feb.
Wun the grant of a concession to the Shanghai Waterworks Company was under discussion by the ratepayers, one of the speakers remarked that if the rate~ payers decided not to -keep the supply of water in their own hands, they would only regret their decision once, but that once would be always; and he was right. There is no doubt that the ratepayers would have vastly benefitted themselves privately and as & municipal body if they had erected their own waterworks, and lad acquired the Shanghai Gas Ca. when it was in difficulties. Now the latter pays regularly 16 per cent., allowing for the water that has been added to the capital, and does not divide all its profits, It is now proposed, it will be seen, that the municipality, learning wisdom' by experience, should acquire the New Shanghai Blectric Company's undertaking. The proposition has come somewhat suddenly on the community, but it is a very sound one. hat electricity will sooner or later, and the sooner the better, be universally employed for lighting purposes in Shanghai, is certain, and the municipality can acquire for a moderate sum—cousiderably less than that for which they could organise a view installation of the same power—what would be to them a very remunerative undertaking. Presuming that they bought out the Company at its cost' price, some Tls. 75,000, and spent Ils. 75,000. in increasing the plant so that it would enable them to supply the whole settlement, they would have to issue debentures for 'I'ls, 150,000. he present cost of street lighting to the Council is about 'I's. 30,000 a year. If they set aside is. 15,000 a year for'interest and sinking fund—a most ample provisiou—they would have still Ils. 15,000 and the
Text read from the printed page and cleaned; old type leaves the occasional error.