The herald., 1893-10-08
THEY HAVE LOWERED THE PRICE,
Proposition for the Purchase Of
the Water Plant.
The Price Asked Has Been Reduced
to $3,300,000.
A Reduction of 100000 Made by
Messrs. Peirce and shaffer Yes
terday = The Matter
Discussed.

At last the owners of the City Water
company have submitted proposition
to the city for the sale Of their plant.
Through the energetic efforts of the
water committee, Messrs. Munson, In
mes and Campbell, the owners have re-
duced the price first asked, So, 800, 900,
to SO, 800, 900.
This reduction was brought about
after much labor on the part OF the
water committee. When the committee
met Messrs. Shaffer and Peirce yester-
day the latter gentlemen submitted a
proposition, as follows:
To the Mayor and Council OF the City OF Los
Angeles:
GENTLEMEN--The undersigned hereby
offer to sell to the city OF Los Angeles all
of the property, real, personal and
mixed, including all rights, privileges
and franchises OF every kind, character
and description now held or possessed
by the Los Angeles City Water company
and the Crystal Springs Land and water
company, both corporations duly organ
lied under the laws of the state and
having their principal places of business
in the city of Los Angeles aforesaid, or
either OF them, partial list of which
said property is hereto attached, marked
exhibit A. hereby referred to, and made
part and portion hereof; and also any
and all further and additional property,
real or personal, which said corporations,
or either OF them, may have or acquire
at any time subsequent hereto and prior
to the sale and transfer to said city here
matter mentioned, upon the following
terme and conditions, to-wit:
First-rhe eaid city shall pay to the
undersigned, as the consideration there
for, the sum of 3.30o,0 600 on or before
the 1st day OF February, 1894.
Second-Upon the payment to the
undersigned of the sum of SO, 300, 900 on
or before the 1st daySof February, 1894,
as aforesaid, they will forthwith cause
all of the property, real, personal OF
mixed, of every kind, character and
description, owned or possessed by said
corporations, or either of them, to be
conveyed and transferred to the said
city of Los Angeles by good, sufficient
and proper conveyances.
r. B. F. PIERCE.
JOHN @. SHAFFER.
Los Angeles, CAL, Oct. z, 1898.
| The statement referred to as exhibit
ga" will be supplemented soon by a
full and complete list Of everything
owned by the company.
Messrs. Peirce and Shaffer positively
refused to make a further reduction,
and it was with great reluctance that
the reduction of 5000, 900 was made.
Members Of the water committee
were interviewed after the consultation,
but they were in no position to make
public statements regarding the advisa-
bility of purchasing the plant. They
had not had time to know whether they
would, in their report to the council to.
morrow, recommend that body to take
action by accepting the proposition.
'The committee have not had time to
consult among themselves" said Chair
man Munson last evening, 'and OF
course are undecided as to what recon-
mendation, ii any, we shall make to the
council. We expect to make report,
but are as yet undecided as to its char
acter."
Mr.. shaffer departed yesterday after
noon for the north, and Mr.. Pierce
started last night for his eastern home
In indianapolis.