The Oskaloosa herald., 1902-11-20
LIGHT PLANT SOLD.
The McEeill Company Sells to
Traction People.

Upon mutually satisfactory terms
the MCNEIL Brothers, on Tuesday
evening, transferred their interest in
the oskaloosa Light, Heat & Power
Company to Major Samuel Mahon,
Trustee, presumably in the interest of
the Interurban Construction Company.
The new company will hereafter con-
troll and operate the old oskaloosa
plant in connection with their Light
ing, Electric Railway and Heating
Company.
Our citizens will be pleased to know
that by mutually satisfactory and har-
monious arrangements and agree
ments, McNeill Bros. sell out their en-
tire interest in the plant to the new
Electric Company. Of which Mr.. Harry
II. O'Neil is president. Our citizens
generally will rejoice that this salts
factory sale mas been brought about.
We do not believe our good citizens
either courted or desired bitter con-
test between the old and the new light
companies. Bad blood, and but little
good would have been the result.
The energetic push and the very
substantial manner in which the work
Of the new Construction Company is
being carried on il noted and appreci-
ated by all citizens. The management
of the new company assures the pub
lie that all the electric light consum-
ers in the city of Oskaloosa, without
favor or discrimination, will be fur
nished with the best possible service,
and at the reasonable rates heretofore
published, and hope to merit the pa.
tronage and cordial support of every
citizen of Greater Oskaloosa.
The Property Sold.
The sale of the Mcneil interests
in the plant amounts to about eighty
per cent of the stock the remainder
being held by other parties. The
value of the property as it now exists
is about $4,000. This valuation in
cludes the houses, machinery, consist
ing of engines, dynamos, boilers and
all apparatus, copper lines about the
city, all light fixtures and apparatus,
and foTty-fiVe acres of land lying north
aAd east OF the power house. The
MahOn interests acquire in the pur-
chase ell the bonds and eighty per
cent OF the stock.
GAe plant was started about the
year 1883 and has furnished the city
e OskalOoaa with light since that
MEae. II was completely destroyed by
FIRE In 1896 and there was no insur.
aRoe covering the loss. The plant
was rebuilt and equipped with the
newest and best machinery on the
market. The property for the past
taree or four years has been a paying
property The earnings have been
aaed ia retiring the second mortgage
ADRdS that were outstanding against
% property as rapidly as possible.
Talk of Sale Before.
Ehe company was approached by
the OskAloOsa Traction and Light
Company some time ago when the field
was first looked over by the O'Neil
people with a view toward operating
a plant in the city.
The purchase of the property was
negotiated, but the terms could not be
agreed upon and the new company
gave up the idea of the purchase.
Negotiations were reopened about
sixty days ago and the sale of the Nc
Neiu interests to the Mahon associates
was consummated through the kindly
Offices of Mr.. Amos Spencer of this
city, Mr.. Spencer was friendly to
both interests and did not desire
clash of interests and resultant I'M
pleasantness that might have resulted
with both concerns in the field and ar
rayed against each other. Mr.. MCNEIL
stated his terms to Mr.. Spencer and
he in turn conferred with the Mahon
people. Common ground was thus
reached and terms agreeable to both
parties determined upon. The matter
was closed Tuesday afternoon after
the parties had been in conference
during the day.
Future of the Plant.
The plant will now be run under the
directiono of the Oskaloosa Trac-
ton and Light Company. The prop
erty will be used until such time as
the new plant is in proper shape to
carry the work that has been planned
for it. The work of wiring the city
to care for the new street lighting sys-
tenn will go forward as rapidly as pos
sible and the new lights will be in
stalled in the near future. This will
relieve the old plant Of load that it
could not hope to carry and give ser
vice to it's private consumers. The
plant will be relieved OF the city light
load as soon as the new work is ready
and the other work will follow as soon
as possible thereafter.