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(d.)—In the opinion of this Board the purchase of the Water
Companies' undertakings should be carried out by a Board of Arbitration,
containing representatives of the parties chiefly interested, and
the Board suggested and is still of opinion that such Board of Arbitration
should be constituted as follows, viz.:—
The President of the Local Government Board, or his nominee ;
The Governor of the Bank of England, or his nominee;
One person appointed by the Conservators of the river Thames;
Three persons appointed by the Water Companies;
Three persons appointed by the Metropolitan Vestries and
District Boards and the Sanitary Authorities of the districts
outside the Metropolis;
and that an instruction should be given to the Board of Arbitration
that in settling the purchase of the Water Companies' undertakings the
valuation should be based upon the value of the property to be purchased
and not upon the value of the capital stock or shares of the
Companies.
(e.)—This Board also suggested and is still of opinion that the
Water Trust should consist of thirty members, constituted as follows,
viz.: —
Six to be elected by the London County Council;
Two to be elected by the Common Council of the City of
London;
One to be elected by the Conservators of the River Thames;
Eleven to be elected by the Metropolitan Vestries and District
Boards and the Sanitary Authorities of the districts outside
the Metropolis north of the Thames ;
Ten to be elected by the Metropolitan Vestries and District
Boards and the Sanitary Authorities of the districts outside
the Metropolis south of the Thames.
(f.)—The election of Members of the Board of Arbitration and of
the Water Trust by the Vestries and District Boards and Sanitary
Authorities could be carried out in a manner similar to that provided
by 18 and 19 Vict., chap. 120, sees. 45, 46, and 47, relating to the
election of members of the Metropolitan Board of Works for certain
combined parishes and districts therein specified.
(g.)—'This Board is not in favor of the management of the water
supply being given to the London County Council, believing that the
Council has sufficient work on its hands in carrying out the very extensive
and increasing duties which already devolve upon it under the
numerous Acts of Parliament relating to the government of the County
of London. The control of the water supply to so large a population,