Los Angeles herald., 1892-10-25
THE WATER cOMPANYW|LL SELL,
A Former Proposition is Once
More Renewed.
Ths Business Done at Yesterdays
Council Meeting.
what the water Company Proposes
Street and sewer Matters-Money
wanted to Pay Teachers.
Finance Committee.

wanted TO ray Ao"oAoA''
Finance COMMITTEES.
When the council met yesterday
morning all of the members were on
hand, including numerous city officials.
The first business transacted was the
reading of the following communica-
tions:
THE WATER CoMPANY's OFFER.
To the Mayor and Council of the City of Los
Angeles:
The undersigned, directors OF the Los
Angeles City Water company and OF the
CRYSTAL springs Water company, respect
fully represent to your honorable body
as follows
In view of the fact that amongst the
advocates of the bond election to be
held the I'd of November, 1892, for the
purpose of raising $526, 900 for the con-
struction by the city of preliminary
water works, etc, there appears to ex-
let Misunderstanding in regard to the
att itude and purposes of our water
companies, we beg leave to make the
following statement and proposition:
Firet-We are not opposed to the city's
owning and operating its own water
works, if majority of our citizens
deem such to be the best policy OF the
city, and for long me we have been,
and are now ready to sell and turn over
to the city all our water works at falr
priceless than it would cost the city
to construct them. And we expressly
state that we do not insist on withhold.
ing such sale until the expiration OF
the term of lease mentioned in the
contract between the City of Los An
geles and the Los Angeles City Water
company.
We beg leave to call your attention to
the written proposition to sell which
was presented to special committe OF
your honorable body on the 10th day OF
January, 1892, copy of which is hereto
attached and hereby referred to as part
hereof.
And we now state that we are still
willing to sell all the property mentioned
in that schedule, which embraces all OF
the property owned or controlled by our
companies, on the same terms, towlt:
For the sum of $2,500.000 and cost OF
improvements made since date of offer
amounting to the sum of $91 900, max
ing total of So. sol 900 (the property to
be free of all incumbrances), and take
in payment therefor 40-y ear bonds OF
the CITY of Los Angeles, bearing interest
at the rate of 5 per cent per annum,
payable every six months. And in ad-
dition we will be willing to sell and turn
over to the city any additional water
works which our companies may acquire
at cost price.
Second-For quite long time our
Companies have been negotiating Tor the
IF tho Uatar sVetem oil Inc
Citizen's Water company with the view
of connecting that system with ours,
and extending and enlarging its pipes
40 as to furnish to the people OF the
western hill portion of our city an abun-
dant supplr of pure, fresh water, which
we have known with regret they were
orely in need of. Until lately our nego-
iations have failed. We have, however,
now come to an agreement with
majority of the stockholders and bond
holders of that corporation for sale to
ue of their water system. That agree
ment would be now finally consummated
but for the necessary and unexpected
delay caused by the death OF Mis-.
Wicks, one of the stockholders and
bondholders of that corporation, and
the necessity Of waiting Tor the probate
of her will, which is set for the 10Th in
slant, and some other preliminary pro-
ceedines, before her stocks and bonds
can be turned over to our companies.
The executor in said will cannot act
in regard to said stock until after the
probate OF the same. We have reliable
assurance that this will be accomplished
in due time, and without delay, and
then the eale will be duly consum-
mated.
We iurther beg leave to assure your
honorable body that as soon as we can
obtain possession of the said water
works, last referred to, it is our purpose
as it is clearly our interest-to pro-
ceed without delay to connect that sys-
tenn with ours, and to improve and op-
crate the same, so as to afford an ample
supply of good, fresh water to the peo-
pie now dependent upon that system.
We have made the foregoing state
ment and proposition in good faith, and
for the purpose of setting ourselves
right before your honorable body, go
that you may take euch action on our
proposition as the good judgment of
your honorable body may deem proper /;
and also for the purpose of dlspelling
any such idea as has been charged
''for the purpose OF influencing the bond
election referred to-that our companies
are seeking to prevent the city from
having any water works of its own, at
the time when it's lease above mentioned
shall expire, and when the city shall be
in such condition that it would have
to buy our works at such exorbitant
figure as we might demand"
We should not omit to state that the
said agreement for our purchase of the
system of the Citizens Water company
is, of course, somewhat conditional
upon the result of the bond election
above referred to.
[Signedl w. II. PERRY,
S. H. Mort,
w. j. BRoDRICK,
S. LAzARD,
G. DUCoMMUN,
ANDREW GLAssELL,
III. w. HELLMAN,
WILLIAM FERGUSON.
Dated this 23d day of October, 1892.
Los ANGELES, January 20. 1892.
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