The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-06-25

'
ore, but TO make assurance doubly
sure, all the stockholders wo1ld sign.
The report as adopted Is given below.
The Report in Full.
The Taxing District Of Shelby
county and the Memphis Gaslight
Company, by heir duly constituted
aud legally getting officers, do hereby
contrac ct and ayr, each with the other,
and upon the mutual considerations
hereinafter recited, as follows;
First The Memphis Gssight C>m-
psny agrees and binds itself to furnish
said Taxing Dn triCt with gas for tina
purscss Of its public lighting for
peliod oil ten years, to begin on the LIST
of July, 1885 This service is to in
GUIDE the lighting of streets, parks,
al.eys, offices, engine houses and al
other public uses to the extent and
for the purposes OF the PRESENT peid
services OF said company TO said Dis.
trict, aud may be, on the demand OF
said District, increased from time u
time TO an extent not more than sew
enty-hve street lights per annum, the
discontinuauce ola burner on our plan
emitting said districs to q like burner
or some other plan.
All burners hereafter used in the
public service shall be OF size to burn
not less than five feet Of gas per
hour.
Second-The Memphis Gaslight
Company consents aud agrees TO an
ordinance TO be adopted by said Dis
tIict creating the Office OF Gas lnspec'
tor, whose compen' alton shall be
fixed and paid by sad Distric', and
whose duties and powers shall be de-
ined by the ordinance creating the
office, subject to future change and
amendment. Among his powers ant
dut es may be enumerated full au
thority 10 see that the gas furnished
by said company is, In lis manufec
ture, of standard purity and made NJ
TO full six esn-candle power; and Il
tst all meters to ASCERTAIN that the.
are correct; to examine meters wheI
called upon by consume 5, and 7
, know that a gas sold Is correct.
measured; aud, generally, to hav
supervision OF the manufacture an
sale OF gas in ssid District.
, The said company will supply th
city and it's inhabitants with coal gsi
unless aud until the kind OF gas ful
nished Is changed by cons mt OF sal
ID IiCt.
q Third The Memphis Ga:ligt
II Company agrees that, at the end
taid period OF ten years, aud at the en-
/ of each period Of ten years during III
:; continuance OF its charter, the tai
n Di trict may, at its own option, rene
o this contract in all its parts, includir
the obligation for lighting the city
and 80 loog as the sgreement for tb
II service shall be thus kept in iorce, II
i Memphis Gaslight Company will n
K charge the cit zens OF said D strict I,
70 gas cousumsd by them more thsn
+ per 1000 cube feed. Provided, tn
II faid company may charge " 90 p
,. 1909 feet If the consumer fails to pi
=. therefor within the discount days
Al neretoi re adopted by said compan
Fouuh-The Memphis Gaslig
Company agrees aud contracts
transfer, assign and del YER to the ss
" Taxing District, and does hereby tran
70 fer aud assign t. said District, all IL
70 net income snd profit that thill, viii
IL the foregoing aud the heieineft
&c stated agreements and premises shl
ls be in force, accrue TO TAD compar
from its'ope atoms in the manuiactu
and fale Of gas, provided that out
Il said income and profit shall be f.
ID paid the necessary and reasonable Q
N peuses Of operation and repairs, AZ
/. the care OF maintaining the Office az
h. having the salaries of officials, al
also a dividend OF 7 per cent. per a
nun on the present capital stock
ssid Company, and the interest rs
shall sccrue upon the 100000 OF bon
now outstanding or any renewals
e. them; and provided further that {
ne dful exp, nditur-a shall be made
tai company in order t. extend
p maics and pipes and enlarge its {
n u civ to me, { the growini demnn,
10 Of gro Riug city; and there VIII
1: rogurpus 10 entue to the said Distti
NATL IN gnd the otteriIegoing pr
Visions under the head have BET
complied with. Bot the ga
an Memyhis Gaslighi Company do
,e also exme sly contract and agree th
ri an "impfovr meat account" separa
q from the pxpe 81 account, shall
keut. which shall show all money 2
pended in the txtention and enlaIg
ment Of mains, pipe' ald works; al
that al the end Of any period OF T.
wear. under the above provisions, u
,, said Taxing District shall have q
"a privilege OF buying and owning Il
al works Of the C)mpany, as then ext
~ ing, by paying the face value OF I
" capital s. ock At that lime, ald SO n
ing the bonds OF the company th
ou:standing, and paying IN the CO.
many one-hali OF the amount shoI
IN by said imp ovempnt account to hs
H. been expended while this co tract "
%. In force for the purposes embraced
10 aior, said in sad imp ovenert
% count; aud if the said Taxing Dttr
th sha not choose t. buy AM own
an yorss, ihe1 an int rast OF one-hslt
I'm the improvements AMI extension s
IDt the wo,ts, after Ia, ing b tho CO
or peny per cent. per arnum, IN ca
no or b teimauis ia thu way OF widen
,el up, it3 tauial stock, and as p'
IT. iIg interest, "a $50 esHd, on
for ho1ds, sh belong 10 tho Tax
us Di,tr ct 1t is, moreover, disiinc
Al underst cd, agreed, and made pat
ng this cont I, that the inter st on
ei, bonds Of the Memphis Ga'light Co
nd pany is always to be provided for a
final charge upon the net income OLE