William R. Day

“ We think it would be a palpable injustice to the stockholders to permit the competition of the city by new works of its own; which, whether operated profitably for the municipality or not, might be destructive of all successful operation in furnishing water to consumers by the private company.' Stating the question of the power of the city to grant an exclusive contract: 'Whether it can, in exercising this legislative power, exclude itself from constructing and operating waterworks for the period of years covered by the contract. ”

“ The city may conduct the business without regard to the profit to be gained, as it may resort to public taxation to make up for losses. A private company would be compelled to meet the grantee upon different terms, and would not likely conduct the business unless it could be made profitable. We cannot conceive how the right can be exclusive and the city have the right at the same time to erect and maintain a system of waterworks which may and probably would practically destroy the value of rights and privileges conferred in its grant. ”

“ The enforcement of this rule has been repeatedly said to be essential to secure the peace and repose of society, and in order that an end may be made of controversies between parties who have once invoked and have had the determination by competent judicial tribunal of the matters in dispute between them. It is no less true that to hold upon any unsubstantial ground that a controversy has been thus concluded is to do an injustice to litigants. ”