Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-12-21
CITY COUNCIL.
The Proposition from the Stockholders
Of the water-Works Company
Is Accepted.
The Remaining 0ne-Half Interest Pur
chased for the Sum Of $4,000.
Alderman Andrews Votes Against the
Proposition Other BUSINESS.

Pursuantto adjournment, the mayo
and beard Of aldermen met at the cit.
hall yesterday at o'clock. Present
Mayor J. p. Smith and Aldermen T
Il. ID. Andrews, j. p. Alexander, Ju
liam Field, ]. r.. Adams, ]. b. Askew
w. II. Aldrldge, j. p. Hughes ant
Richard Flanagan.
Mayor Smith called the council Il
order and the following business wac
then transacted
The amount Of $40 was allowed Ia
John Nlchols, city treasurer, to return
to Mary c. Fox for two lots in the city
cemetery, which she bought and
wishes to return.
The sum OF Sl2e3s was allowed to
the Missouri Pacific railway conn
pany for freight.
The special committee to whom was
referred the matter Of the stock Of the
Fort Worth Water Works company
presented a communication relating to
purchase by the city of the other
half Of the stock Of the company:
TO the Honorable city Cuunoil
Geutlemcn-I propose 10 sell 10 the city
One.hHlf OF the stock OF the Fort Worth
wftter-wurkH. n Is owned by ms and others.
together with all the fr1uchiHeNt plumbing
stock and accounts, and AL stock and fixtures
OF All kinds belonging 10 Sad WORKS, for the
sum Of 5000 In cash aud the property
known az the D. u. & s. building. on 10
assume All Liabilities OF same; respectfully
submitted, f. II. toWAS.
We win accept the D. j.. 6 $. notes as spO)
Ina part payment n. T.. G.
Mr.. Aldnige made a mo.ion that
the proposition be accepted and TINT
the transfer be made.
Mr. Andrews offered a substitute
thnt q special committee be appointed
to ascertain the feelings Of the bust
ness men of the city ON this subject,
and the committee to report 70 the
council next Tuesday.
The substitute was placed before the
council and defeated. The original
motion having been seconded, cOnsid
cradle debate took place.
Mr. Andrews took the view that this
matter should not be hurried through,
that the sense of the citizens should
be inquired into before coming to any
conclusion. lie said that the council
had bought one hundred thousand dol
lars worth of this stock few
months ago for B32,b0O and 1--WE had
found ourselves placed in wrong posi-
ton by not being able to hold this
Stock he thought Ii would be better
TO try to sell that stock 70 the gentle
men who wished now to sell theirs az
lac had made a careful inquiry into the
matter and examined their books aud
found that for for the last ten months
the water-works company had failed
TO pay their eX penses by the sum of
$500 and he thought that he must
give credit To the managers OF tho
water-works for the thorough business
like manner in which they had con-
| Quoted this business This $500 WAS
loss on time counting fun interest on
1 1900 COO at per cent. In looking over
the books of the company he found
| that the assets over the bonded debt
/ was q little over $4,000 and he wished
/ TO call the attention of the eOunCll that
In the purchase 10y the city OF the first
/ stock they had become convinced that
they had paid about $4,000 more than
the stock was worth, Now, why pay
this, and was the city prepared to give
away $37 600 to pay $40 800 more for
the stock than the assets of the com
pany show the halt interest to be
w0rth9 That IN discussing the pro-
prloty of purchasing this interest, the
public had never been advised OF the
councils Intentions, and this being the
first time that any publicity had beer
given 10 IL, should the council not
move slowly and defer final action un
I'll the the people had an opportunity
10 express their views ON the subject
That all the propositions that tines,
gentlemen had been making to TIA,
council each and every one was fo
the sale of the property and no
for the purchase OF the olty's part, evi
IDENTIFY intending to use the presen
complicated state Of aftaira 10 enfore
theaale of their property that the cit,
attorney had advised the council TO e,
slow IN this matter, and that tho eoun
4 eh's position was secure and 1t hhouli
move without haste.
MIR, Askew, IN reply 10 Mr., Andrews
stated that he was compelled to difle
with the gentleman who lust spoke
l and that he could not help saving
( few words 10 show the gentleman
general Inconsistency, He could no
understand why the gentleman oil
i not oppose the purchase OF the frs
500, 900 worth of the stock he ha
agreed 10 purchase, aud saw nothin
wrong about it. As for giving pul
/, LOFTY 20 this matter. there had bee
/ publicity enough. Every one ia ia
" city knew this special committee wa
trying 70 make some arrangement
with the water-works company
buy or sell, that this thing emanate
3 from the owners of the stock then
selves, and he thought 1t was the be.
thing that the city could do for ALA
70 every one who resided In it.; TIL
Mr. Andrews wanted 10 consult III
!. business men about this purchase: VIII
= not consult the poor man az wen
u the banker or any one else? nj
poor man was the one who was mo
interested; water WAS one Of the neee
saries Of life aud he was fully con
Z, mitted TO the project aud would yo
!, :, for the project 70 be contaminated.
n Mr.. Andrews, IN reply. could not 81
4 where two wronRa made one llgh
, that he had voted for the first pu
y chase but would rather that now Il
i, city could sell instead Of buying.
- Mr.. Aldridge spoke ia favor Of Il
purchase, and the vote being taken
y accept the proposition OF s. +. Cows