The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-04-30
WATER COMPANY
CHANGES HANDS
Controlling Interest Bought By
Pittsburg Parties,
LARGE HOLDERS CLOSED OUT
American Water Works and
Guarantee Co. Purchasers.
THE CONSIDERATION MO- KNOWN
&
So
Small Holders Can Seq r Stock
At Same s
PAID FOR MASS Y INTEREST
Woodward, Billing, Baldwin and 10.
LSfV
Small Holders Can Seq : T Stock
At Same FS
PAID FOR MASS Y INTEREST
S-
Woodward, Billing, Baldwin and 10.
siah Morris & Co. Pooled INTEREST,"
and Effected Deal, Which Was
Finally Closed Yesterday.

The Birmingham water works system
has been sold to the American Water and
Guarantee company, of Pittsburg.
The deal has been in progress for sew
eral weeks w. S. Kuhn, the general man.
ager of the American Water Works and
Guarantee company, and other experts of
this company have been here several times
recently examining the property, and few
days ago the deal was closed by Mr.. Kuhn
purchasing the stock of Dr. Baldwin, Mr..
Billing and other interests constituting a
majority of the stock. These large holders,
however, provided in the sale that the
American company should take all the
stock from all other holders who desired
to sell at the same price paid for the ma
jority interest, and notice to this effect
was mailed to all the stockholders when
the deal was finally closed yesterday.
The new concern will assume practical
control within the month. -
Mr. Kuhn was much pleased with Bir-
mingham and the properly his syndicate
has acquired.
The American Water Works and Guar
antee company owns the water works sys-
TENS in perhaps twenty cities of this coun-t
try, and by virtue OF practical experience
has been remarkably successful in each
one, both in goving good supply OF pure
water at moderate rates and In pleasing
the people by virtue of thorough and prac-
tical business management This same
concern owns the systems in Chattanooga
and Meridian.
BY Four Gentlemen
The deal finally closed yesterday was con-
summated by four gentlemen who con-
trolled a majority of the 100000 of capital
stock pooling their interests and selling the
stock in lump to the Pittsburg syndicate.
Possibly 100000 of the remaining stock is
in the hands of individpals.
The gentlemen who disposed of their
stock are President James T. Woodward,
now of New York; Josiah Morris & Co.,
f. M. Billing and DR.. 7. j. Baldwin, or
Montgomery. The price paid these gentle
men for their holdings has not been made
public. 1t is said that they held or were
empowered to sell considerably more than
a controlling interest.
All officers of the existing company In the
city were notified of the sale yesterday, but
no announcement of changes has been
made.
p II. Earle, the vice-president of the
present company, said last evening that he
was not at liberty to make any statement
in regard to the sale or changes that might
be effected.
by Messrs. Baldwin, Billing and Woodward
is that they are non-residents, with large
interests in other localities, preventing
them giving the necessary attention to such
an active interest here.
A gentleman who should know said last
night that the terms of the sale were bene-
ficia to both sides and that the small stock
holders would have no grounds for objec-
ton.
The Only Sources of Water Supply
The Birmingham Water Works company
at present controls the only means OF
water supply accessible to Birmingham.
The officers are President, James II. Wood
ward; vice president, p H. Earle; general
: manager, W. J. Miner; secretary and
treasurer, J. F. Graham.
The capital stock of the company is $780,
000 and there are something like $500 GOO
worth of per cent. bonds.
There is no way of estimating the actual
value of the plant. 1t is said that 81 400, 90
has been expended in bringing it up to its
present high standard.
The company controls two sources Of
supply, one from Five-Mile creek and one
from Cahaba river. The latter supply is
considered tho best of the two and used al
most to the exclusion of the other
The branch system located over Red
mountain Is said to present one of the most
accurate pieces of engineering work of any
water works system. The pumping station
is on the banks of Cahaba river. The
reservoir is several miles nearer the city,
located on a shelf of the mountain. The
mains reach the city by means of a tunnel
through Red mountain.
There has been some gossip recently 20
the effect that the company would shortly
supply Pratt City and Ensley with water.
No one knows enough of the new. deal to
say what effect 1t will have on the pro4
jected extension.
Wheeler Going to Detroit