Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1876-10-25
the WATER POWER MEETING.

the WATER POWER MEETING.
The Directors of the Water Power
Company called meeting of the
stockholders last night, at the City
Hall, to take into consideration the
condition of the work, the condition
of the finances of the company and
what was best to be done under the
circumstances. The meeting was no,
Us largely attended as it should have
been, by any means, although sever
al gentlemen were present who, with
out exception, agreed on the necessi
ty of completing the work yet THU
Fall.
Sam. 3. Evans was chosen Presi
dent, and r. H. Warden, Secretary
Mr.. Bonnifield, President of the Co.
made statement that the object o.
the meeting was to devise means tt
complete the work which was now il
such condition that it could be fin
sshed inside Of thirty days if suffi
cient amount of money could bt
raised; that the work was in such :
shape that unless it acas completed q
might all be rendered useless or be al
most totally destroyed. He seemed t.
think that the time to push things wa
at the present, provided the means
could be raised to pay the laborine
men as they progressed with thcil
work.
The Secretary then read a printed
report the same as published last
June, showing that there was abou,
$3O, 500 available subscriptions theI
due from the stockholders; since
which time about $1,000 had been
collected and applied towards the
work.
Major Hamilton thought that the
work might be completed easily
enough yet this Fall, provided the
money could be had. He said the
directory had exhausted every re-
source they had, had used every en-
deavor to push the work through,
but just now seemed to be at the end
of their string. 1t was for this meet
ing, he said, to provide the necessary
means to 60 on or the work would
necessarily stop for the present and
possibly remain an eye sore for all
time to come. The directory felt
that they had done all they possibly
could and unless the stockholders
came forward nop and provided the
means the work would stop.
Mr.. Sears stated that twelve or fif-
teen thousand dollars would COM
pletc the work in a permanent man.
ner, and that with anything like IA
vorablc weather he could have water
wheels turning inside Of thirty days.
He was anxious to 60 ahead, had
placed oil his available means in the
work that he could, for the present.
A very earnest speech was made by
Mr.. Daggett, informing the meeting
that the work must be done this Fall,
because for one reason, that parties
were calculating the company to fur
nish them power, that the company
he represented would be compelled
to have either water or steam power
and that very soon, and mentioned
others also in the some condition.
He offered a resolution that a COM
mittee Of five, which was afterwards
increased to ten, be appointed, in adj
aition to the directory, to canvass the
lncollected stock for collection, ia
King as basis cash at the rate of 10
per cent, the balance to be settled by
note payable in 3 and 4 months.
The resolution was unanimously
adopted, and the following commit
Zee selected with j. NJ. Kiser as
B. B. Durfee, John L.
Moore, j. B. Miller, J. G. Meek, j. II.
w. A. McGrew, w. T. Har-
per, DR.. j. Williamson and s. b. |
Evans.
Mr.. Kiscr thought immediate ac-
lion necessary, and therefore request
ed the committee to meet him this
at his Office, when and where
The work would be systematized, and
for strong effort to settle
The matter with the stockholders. |
1t was SO arranged and the commit
tee were at work all day.
Several gentlemen present express
cd themselves as perfectly satisfied
with the basis Of settlement, and no
doubt all others will feel the neces-
sity of prompt action and come down
and settle with the COM
mittee without further solicitation.
The meeting then adjourned until
Thursday night at ~ o'clock, at |
which time the committee will re-
port progress to the meeting.
S. b. EVANS, Ch'mn.
II y