The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-04-12
THE CONTEST CLOSED.
THE ARTEsIAN WATER COMPANY
GETS ASSENT TO CONSOLIDATION.
City Authorities Say the Company Is in
a Hole, the Company Says the City
Gets a Big Thing, Yet Both Sides Jump
at the Settlement With Eagerness.

The water question in Memphis has been
settled for many years, SO lar as the CITY
authorities are concerned.
This conclusion was reached in short
order at the Legislative Council meeting
yesterday afternoon.
From comments directed at the APPEAL
reporter, who ''took in" the meeting and
witnessed the harmonious settlement,
the city authorities consider themselves
the expertest of experts in drawing con-
tracts, and the water company men are
"downed."
"Do you know those fellows are in q
pretty bad hole2' inquired President
Hadden OF the reporter
"No; are they, really?" was the reply.
''They are thatp
Col. George CAN'T, attorney for the water
company, also remarked that the city was
getting a big thing, but it was observed
that all hands jumped at the settlement,
lest it slip through.
Following is the report Of the commit
tee, composed OF Messrs Petit, Kney,
Lee and MADDEN, appointed at the pre-
ceding meeting to consider ways and
means, as it were, for the two companies
10 consolidate:
THE REPORT.
The committee to whom was referred
-rnt question OF a consent on the part OF
the Taxing District TO the purchase by the
Artesian Water Company Of the proper
ties and working franchises Of the Mem
phis Water Company, report
l. The draft OF resolution TO be passed
by the Legislative Council giving such
consent upon certain terms and conditions
embodied in a contract to be executed by
all the parties.
2. The draft Of that contract.
3 A resolution passed by the board OF
directors and assented to 10y all the stock
holders OF the Memphis Water Company,
abandoning and surrendering all claim to
an exclusive privilege in that company.
PREAMBLE AND RESOLUTIONS
Whereas, BY an act Of the General As
sembly OF the State OF Tennessee, entitled
"An act TO empower wafer companies in
this State 10 acquire, by purchase or other
wise, the property and working franchises
OF other water companies" passed March
80, 1889, and approved by the Governor
April q 1889, 1t is provided in all cases
where there are two chartered water COM
panies in any town, or city Of this state,
that one Of said companies shall have the
right and power to acquire, by purchase or
otherwise, the properly and working fran
chises OF the other company, by and with
the consen, and approval OF the municipal
authorities OF the town or city IN which
said companies may be located, for
the purposes and under the conditions in
said act mentioned; and whereas, There
are located in the Taxing District, known
rs the city Of Memphis, OF shelby County,
Tenn, two water companies duly char
tered and organized under the laws OF
this State, one called the Memphis Water
Company and the other the Ariosian
Water Company, and the latter is DESTROYS
Of purchasing from the former, in due
legal form, all is property and working
franchises Tor the purpose Of enabling
the said Ariesian Water Company the
better TO carry ont It's duties under lis
charter, aud 10 comply with It's contracts
--for public aud private supply Of water,
and especially It's contract with said Tax
ing District Of date 3Oth day Of July, 1887;
aud wharcas the said two water com.
panies, not being operated and run in
competition with each other, and such
purchase s, upon the terms and condi'
lions hereinafter specified, satisfactory Il
the municipal authorities OF said District
now therefore be II
Resolved by the Legislative Council o
said Taxing District, That Il does now anC
hereby consent, aud approve OF the pur
chase by the said Arlesinn Water Com
pany from the said Memphis Water Com
pany, OF all or such parts OF the property
and working franchises Of the latter com
pany Ms the former may desire, upon sucl
terms as may be- agreed upon between
them or their respective representatives
the consent Of said Taxing District bein
given upon the terms and conditions iull
set forth In n contract executed contcn
pouneously with the passage Of this rcso
luton.
THE CONTRACT.
The Taxing District Of Shelby County
party OF tie fret part; the Memphis Waite
Company, party OF the second part, an
Ariesian Water Company. party OF IA
thinl part, hereby make and enter into Oh
following contract, to.wit
An act OF the General Assembly OF tll
State OF Tennessee entitled IAN act 10 Ell
power water companies In this State /
acquire, by purchase or otherwise, ih
property and working franchises Of otht
water companies" approved April 2, lSSl
authorizes the purchase by said Artcsia
Water Ccmpanyo Of the property and wofl
ing franchises OF the said Memphis Wat,
Company. by and with the consent OF III
said Taxing District.
And the said Ancsian Water Compan
and Memphis Water Company. hayin
agreed upon sale Of the property ma
working franchises OF the latter 10 IA
former, and having applied 10 the sal
Taxing District for is consent 90 said sil
aud purchase the said Taxing District dos
now and hereby give It's consent thcrcI
In consideration Of the pref misses following
And the said Mcuphs Water Compln
and Artcsan Water Company IN conHidc
alton of the giving OF the consent aiur
said do hereby respectively agree as 10
lows
1. The said Taxing District may NJ II
option. and nj any time IL may see It, nj
null and cancel the contract heretofore ~
listing between II and the said Mcmph
Water Company, dated the LIST day of Ma
1882. the said cancellation add annullnci
60 be consummato and complete upon u
Ia sagc Of resolution 10 that elect by q
l. gisla.iye Council NJ said district.
= Tie said Memphis Water COmpan
for the benefit Of the said Taxing Disiri
and It's inhabitants, hereby abandOns M
Tclinquishos 70 the State Of Tennessee
claim under It's charter or otherwise Of :
exclusive privilege 10 supply the said Ia
ing District and It's inhabitants with waite
this abandonment and REIMBURSEMENT b
ing made by the Memphis Water Con
many by virtue of n unanimous vote OF