Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1876-11-15
MATER power Meeting.

IN WAUGH Nv WV
the City Hall last night, was not as
well attended as was expected or as it
should have been, considering the
momcntous issue at stake. The
meeting was called to order at the
usual time, and Capt. j. G. Hutchinson
selected as chairman. A secretary
was selected and the business of the
evening commenced.
C. F. Blake was called on for a statc-
ment ofthe financial condition Of the
company and who said there had
been $4,000, or there abouts, paid in,
excluding about 81, s00in notes.
There was due in stock, part paid,
according to this statement made
from memory, about $4,000, and on
wholly unpaid stock about $4,000
He stated that in his opinion, at least
$4,000 of this stock was perfectly
good and was collectible,i without
very much doubt. The city bonds to
the amount Of $4,000 which were
only due on the completion of the
work, would altogether, or very
nearly, pay the outstanding debts
1t was his opinion that $4,000
would complete the work, while the
company had on hand in the shape of
stock unpaid, not less than $4,000,
not counting the city bonds. He also
made the statement that if the work
was not completed this fall, all the
work done would probably be badly
damaged, if not entirely lost. He
asked that the meeting would assist
the directory out of the dilemma in
which they found themselves placed,
stating that they had done everything
in their power to keep the work
moving, until now but could go no
further unless the means were pro-
vidcd with which to pay for material
and labor. lie said it. was impossi-
BILE in his opinion TO go on with the
work unless the meeting took some
prompt and decisive action by which
the necessary cans might be rcaliz-
ed.
During the course of the meeting,
Mr.. Blake, Major Hamilton, and sew
eral other parties stated that the de-
linqucnt stockholders would be COM
PEELED to pay their stock Dor or
later whether the work went on or
not. 1t seemed to be the opinion of
the most of those present that if the
work was not completed that the city
could probably sustain an action in
the courts and ecoyer for the $l0,-
600 bonds already issued, and also
that the other debts would have to be
provided for out of the unpaid stock.
Mr.. Blake. Mr.. Bonnified, Major
Hamilton, Capt. Hutchinson and 9TH
ers offered to surrender their stock,
which is wholly paid, provided that
would be the means of securing the
work, which seemed to be the one
thing they desired above all else.
1t was found upon a canvass of the
meeting that about $4,000 stock, all
paid up except 81, 100, vas represent
ed in the meeting. Mr., Meek and
several others favored immediate and
decisive measures be adopted.
Several measures were proposed,
debated and dropped as impractical
BILE, until a proposition was made by
Mr.. Lilburn that fifty men each adj
vance to the company the sum of 500.
This suggestion was adopted by the
meeting as being feasible, and a COM
mittee of three to be appointed by
the Dire Glory was authorized, but
what will come Of it is not known,
the only question being as to where
the. fifty men are to be found who
would advance the money. How
ever, seven of that class of people
present, authorized their names
to be placed OF the list. The meet
ing, however, vas comparative
lly barren of results, and
while the directory seemed somewhat
embarrassed, they accepted the stu
alton with a good deal ofgood nature.
They made an Intellectual attempt to
appoint their committee of three, to
canvass on tho 5000 advance propo-
sition. Several gentlemen were ask
cd to serve but all declined and the
meeting adjourned.
Now the question is will cur peo-
pie let this L IMPORTANT PROJECT
FAIL, to the great disadvantage and
lasting disgrace of our city?