Tacoma's Water Works Deal Was for Eastern Capitalists All Along
C.B. Wright says he never wanted the city light and water plant for himself—the proposed buyers were New York and Boston investors, leaving the mayor waiting for an answer.
Tacoma, March 22.—Special.—After all, C.B. Wright does not want the light and water plant for himself. He now says the negotiations opened by his agent, at his instance, were for the purchase of the plant for others. Last Sunday Mr. Wright wrote to Joshua Peirce explaining that the proposed purchase was to be made for third parties. These third parties are Edmund Seymour, of this city; Judge Pillam, the noted bond lawyer of New York; and Boston and New York capitalists. Mr. Seymour said he was in correspondence with Eastern capitalists who thought of making such an investment.
In his letter to Mr. Peirce, Mr. Wright says he has no thought of again going into the light and water or any other active business, his age being too great. Mr. Seymour, in whose hands the mayor's proposition to purchase now is, says he will be in a position to make answer to it as soon as certain letters arrive from the Eastern capitalists who are interested.
“After all, C.B. Wright does not want the light and water plant for himself.”
Who should own a city's water and light—the public or outside investors—was the question then, and it still shapes utility rate fights and privatization debates. The 1895 answer was deferred by a letter from the East, a reminder that local infrastructure has often been financed from afar.
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