§ On the Motion for the Second Reading,
§ MR. STUART
I understand this Bill is purely temporary in connection with what is to be permanently done. There are some things that have been omitted as in the other Bills, such as the sinking fund, and the clause with respect to purchase to 1529 which I must call attention; but I think perhaps the honourable Gentleman in charge of the Kill will say if my interpretation of the Hill is correct?
§ MR. BOULNOIS (Marylebone, E.)
The object of this Bill is to provide a main from the intake at Hampton to the reservoirs at Karnes, and to take an additional quantity of water from the Thames by arrangement with the Thames Conservancy, which we should be entitled to take under the Staines Reservoirs Act, say three years hence, when the reservoirs will be completed. It is practically a temporary Measure, and is brought forward to meet not so much an emergency as with a view to prevent anything like a deficiency of water, and especially in view of the arrangements which we have made with the other companies in the metropolis to carry out a communication for the water supply. With regard to the observation of the honourable Member for Shoreditch as to the sinking fund clause being omitted from the provisions of this Bill, I would point out to the House that if the sinking fund clause is inserted in this Bill, whatever is deducted from the company must absolutely come out of the consumers' pockets. It will not come out of the shareholders' dividends in any form or shape; and although, of course, the directors of this company look for their dividends to pay their shareholders, they are equally interested in the consumer. I hear some Gentlemen laugh, but I do assure the House, as far as I am personally concerned, I stand here as the representative of my constituents, and I claim for them that if this clause should be inserted in this Bill they will be the sufferers and not the shareholders of the company. Under these circumstances I hope the clause will not be inserted by the Committee upstairs, but I thought it right that I should supplement the honourable Gentleman's observations to that extent.
The Bill was read a second time, without a division.