The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-11-16

To take Possession OF the Northern Liberties Gas Works.
and 10 create load therefor.
Section l. The Select and Common Councils OF the city
Philadelphia do ordan That the Trustees of the Phia-
sion of the Works Of the Northern Liberties Gas Works,
so soon alter the first day of july 1902 as can oS IN
accordance with the terms OF an Act approved Apnl l.
Section Tha for the purpose of enabling the Trus
tes ofthe Philadelphia Gas Works 70 take possession Of
the Gas Works authorized blythe nrst section hereof the
credit the city, at Of interest not exceeding six
per cent per annu such sums OF money as the Irusess
require exceeding four hundtCd thousand drlds
s i Ireas9rer hc.eSS directed on TIC reui,ton Of
the Trustees TO Issue caes Of the loan Of the City OF
Phngdea In uCh amounts and 10 such parties as they
SAID loan TO io lie conversion the stock Of the
Northern Liberties Gas Works. and the prncipal thtTeof
to be payable at the c>laton Of neen years from the
date Of such eonveaon, and not before without the CON
Ofthe holders thereof The certificates OF SAID loan
shan be in the usual mu IN which cerc9tes heretofore
have been Issued cn lt reluison o sara Huslees ana
Sections. That ha said Trustees shall ser apart out OF
the profits OF said Gas Works, the sum o. twelve per
this ordinance. lor ho purpose 81 paying me interest
IhsIson ana MPins ,nS ana an or
before the thhty nHi day Of December aud the
ssid loan Is reGceu,i ihe sum Of six per centum on
the amount Of said an sha be paid by the said Trustees
thC 20 the pgmeU the interest on said loan as the
maining three per rsnn shan be paid over by tue said
Treasurer 10 the Cuuu oners Of the sinking Fund, VINO
shall invest the ts aocumuatlons In the loans TO
the said Gas Woih. ia any other loans Of tho City
Philadelphia, as .hius fund, which is hereby specll-
cay pledged 20 DJIs InCnt Of said loan aud any
plus remaining a ft payment OF said loan, SHAH be
applied by the Cvw"hs ners Of tho sinking undtowards
tie eNtinguishul ne other loans 10 the said Gas
Works irGDy. ot, sr Of the funded debt OF the Ci-o
PEuaCephiH,
section Upor tgi possession OF the works, pipes
&c. conveyed ua,r hoTy Of this ordinance, It shall
he the uuty OF tDv Of the Gas Works 70 make de-
tailed rCpOr, D. the property, real and personal,
conveyed, anc na essed values and the said rrus
tees thal have. @ slect 20 said works pipes, &C, the
same powers Z. t.. -ty in all respects as they
have heTCavtT Ht have, with respect 10 tho works
| already lntIuuttu r care.
Section D. lU I." pose OF enasllng the Trustees or
the Philadelphia r rG 20 carry out the various trusts
confded 10 th,m Iy inanoes OF Councils, ana TO In
crease extend I'd improve In the ecOnOmi-
cal manner the uHas ~ ters and works under their
as 10 meet The o4sng wants Of the citizens for
Light, the said 1Iastles are hereby authorized aud
required so TO regulate tho price Of gas and the several
products It's manufacture may fOm time TO time Do
necessary the said price of TO be the same In all the
Wards Of the City supplied BY the Gas Works under the
Section g. Anything IN any other ordinance contrary
| to this ordinance Is hereby repealed.
| RESOLUTION,
Directing the CLERK OF Common Council TO Publish Loan
Bill.
Resolved That the CLERK OF Common Council be autho-
ryed 20 publish two daily newspapers, daily, for our
weeks the ordinance presented TO Colnmon Council ~
stated meeting thereof held the 27th day Of October
1864 entitled An Ordinance 10 take possession Of the
Northern Liberties Gas Works and "a create loan there
for; aud the said Clerk at the stated meeting OF Councils
q IT, from tha fHuu