Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1895-06-27
WATER POWER INTERESTS.

w "A LIN
We do not desire to favor or iniure
the rights or interests of either the
Nash Bros. or the Consolidated Water
Power Co. in saying or publishing any
matter in the REPORTER on the subject
of consolidating the water powers on the
Wisconsin river at this point. Our only
desire is to give the readers of the
REPORTER the facts so that they may
judge of the matters of difference
between them intelligently. We are
very sorry for the welfare of the parties
interested and the good of the COM
munity as a whcie that the matter
cannot be amicably settled somewav
About two weeks ago the Nash Bros.
made the Consolidated Water Power
Co. the following proposition:
Thomas E. Nash and John L. Nash.
as Nash Brothers, respectfully submit
Company the following propositions as
conditions of settlement of matters in
'difference now existing between them,
growing out of the so called arbitration
proceedings recently had.
First: Said Nash Brothers will accept
Two Hundred and Seventy (27O) shares
of the par value of One Hundred
| (SlO000) Dollars each of the capital
stock of the said Consolidated Water
Power Company; or,
Second; The sum of Eighteen
Thousand ($1S,OG000) Dollars cash,
being Two Thousand (S2,o00:OO) Dollars
less than their actual cash investment; /;
or,
Third: The said Nash Brothers to
remain as they now are, they giving to
said Company the right to abut its dam
against their property, they retaining
the water power now held and enioyed
| by them under their title deeds, de-
livered in perpetuitv to them at their
mill property and site as the same is
| Fourth: In case of the rejection of
| the three propositions above named,
then that said matters in difference be
submitted to Geo. r. Gardner of Grand
Rapids, and B. R. Goggins of Centralia,
for final settlement and determination,
then that they have the right to choose
a third person to act with them, a
majority vote to control; or that the
whole matter be submitted to Judge
Webb, as arbitrator, without pleadings
and without reference to the legality of
proceedings already had, for final
determination
This proposition to remain good for
10 days, and in case of the acceptance
of any one of the above propositions
by the said Company, then the whole
matter to be settled and determined
within Ten (10) days from the date of
the notice of such acceptance. And in
case of rejection of all the above
propositions, then all of the proceedings
herein had on this matter of settlement
shall be without prejudice to the
ultimate legal rights e either party.
Dated this 10th day Of Jnne, A. D..
1895. NASH BROS
B. Il. GoGGINs, Atty.
The Nash Bros. received III reply to
the above proposition the following
answer from the Consolidated Co.,
which explains itself:
GRAND RAPIDS, Wis, June 18th, '95.
THOMAS E. NASH IND JOHN L. NASH,
GRAND RAPIDS, Wis.
Replying to your propositions of June
10th to the Consolidated Water Power
Company. am directed to say that for
and all of such propositions are respect
fully declined.
| am directed further to say that at
the date when your propositions were
received, our attorneys were engaged
in preparing the necessary papers for
the commencement of an action against
YOU 10 compel specific performance of
your agreement of July 10th, 1894, to
convey your lands to this company and
accept stock therefore. Since then the
papers have been served and an action
commenced and the validity Of the
arbitration heretofore had can be
speedily tested and final determina-
ton reached thereon. if you are SO
: disposed.
In view of the fact that one arbitra-
ton with all the binding agreements
and formalit:es possible has been had,
it seems worse than idle to attempt
another. or in other words to arbitrate
upon an arbitration. If the one had is
not valid, it will be well to have it SO
, adjudged as soon as possible and not
pile error upon error.
: This company therefore proposes that
YOU Join issue in the action commenced
; and that trial be had before Judge
Webb at once and judgment be obtained
thereon as speedily as possible, the
same to be entered as OF the present
May Term of court.
| may add in this connection that our
ATTORNEYS Gardner & Gaynor and Geo.
L. Williams stand ready to sign any and
all proper stipulations looking to a
speedy judicial determination of the
matter in controversy between US.
Respectfully,
F. MACkINNoN, president,
Consolidated Water Power Co.
Action has been commenced against
the Nash Bros. to force them to come
into the consolidated Water Power Co.
according to contract made July 10th
1894.
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