Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1868-11-02

tween the company and E. s. Hougb, Esq,
have been adjusted and settled to the satlstac
ton of both parties aud suits ordered to be dis
missed.
During the year just closed there was paid
$l299.67 interest on the bonded debt, the
greater portion of which sum was for interest
long since due, and also four OF the company
bonds, each for 81 900, have 6een paid. leaving
out standing of the bonded debt $1,000, on
which interest has been paid to the lst of July
last
The Treasurer report showsa cash balance
on hand of 81 ,843 IL, which sum will be ap-
propriated to the payment of dividend OF 81. SO
per share of stock which your board has order
ed to be paid to the stock holders on the 18th
OF January.
By reference to the Treasurer account the
receipts and expenditures made during the past
year will be shown In detail, all OF which is re-.
spectfuly submitted. Signed on behalf OF
the Board of Directors
GEORGE H. SMooT, President.
On motion the report was accepted.
Mr.. r. Fl. Miller advocated the construction
of the proposed new reservoir, which he esti-
mated. will cost, when completed, $l3, 1856 S.,
exclusive OF the price of the land, and offered
the following resolutions, which were unanl-
mously adopted:
Resolved That the suggestion of the Presi-
dent and Directors to provide storage reser-
yor, to insure at all times an abundant supply
Of water for all present purposes, and for a
large increase OF population hereafter, meets
the hearty approval of the Stockholders, not
only for the probable increase OF profits which
will accrue to themselves, but as measure
which will add to the prosperity and wealth OF
the community.
ReSolUed, That the President and Directors
be, and they are hereby author zed, to take
such measures rs may be necessary, to secure
the land necessary for the proposed new reser-
vOir, and to have such estimates made as are
necessary to ascertain its probable cost.
ReSO(Ued That when such estimates have
been carefully prepared, for the contemplated
work, the construction Of which is hereby au
thorized, the President and Directors be, and
they are hereby authorized and empowered, to
make loan at six per cent per annum, and II
necessary to issue coupon bonds payable at the
expiration O. twenty years for the same, to an
amount not exceeding $4,000, to be secured
by mortgage on the Company Works, and
out Of the surplus earnings OF the company, al
ter paying all charges and a dividend not
exceeding eight per cent. per annum, SUCH sur
plus be applied as a sinking fund for the re-
demption Of the capital sum borrowed.
The reports of the Superintendent and Treas
urer were read and accepted.
On motion of Mr.. G. r. Hoof vote of
thanks of the stockholders was rendered the
President and Directors Of the Company for
the able and faithful manner in which they
have conducted the affairs Of the Company.
The meeting then proceeded to the election
of President and Board of Directors, to serve
for the ensuing year, which resulted in the re-
election Of the former President and Directors,
as follows:
President-Geo II. Smoot.
Direetors-John B. Daingcrfeld, Benjamin
Barton, B. IL. Lambert, j. j. Wheat, Samuel
Miller and r. II. Stabler.
The proceedings Of the meeting were order
ed to be printed in pamphlet form for the use
of the Stockholders.
A vote Of thsnks was rendered the officers OF
the meeting, after which, an adjournment sine
die took place.