The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-05-06
DECREE FILED IN
IMPORTANT CASE
City of Fayetteville VS..
Water Works Go.
TRANSFER IN 10 DAYS
The City Entitled TO All the Earnings
of the Company Since August 18th,
1903, and the Amount Retain
ed BY the Company to the
First of April 1905.

The decree in the case, which is
entitled, "The City of Fayetteville,
complainant, VS.. Fayetteville Water,
Light and Power Company, is in sub
stance as follows:
The cause having been heard on
the End of February, 1905, upon the
BILL answer, replication, proofs and
masters report and exceptions, and
it having been determined after ar
gument that the contract or agree
ment as to the sale contained in the
defendants franchise dated the 18th
day of December 1892, and the APP
praisement made under the terms of
such contract on the 4th day of Au-
gust, 1908, should be specifically per-
formed, and the court having declared
that such appraisement and appoint
mcnt of appraisers was not a funda-
mental act of the essence of the con-
tract but was incidental and subSdi-
airy thereto and that the defendant
was in all respects bound by the
award of said appraisers. it was or
dercd, adjudged, decreed and deter
mined:
pany is bound to convey and trans
fer to the city its complete water
works plant, real estate and all pro-
perry incident thereto.
Second: That the defendant is
bound to receive in full payment
therefor the value of said water
works plant as declared in the awrd
of the said board of appraisers.
Third: That the defendant corpor-
alton must, within ten days of the
service of the decree, transfer and de-
liver TO the City of Fayetteville the
entire plant, property and contracts
and leases of the company: and the
defendant is enjoired from Interior
ing in any way with the quiet and
peacable control and enjoyment of
said plant by said city
Fourth: That within twenty days
of service of decree the defendant
shall deliver to the clerk of the Fed
eral court in escrow the deeds nee
essary to pass said property, free
from all encumbrances, except the
lien created by the deed of trust Sc
curing the bonds of the company,
amounting to $4,000.
Fifth: That after such execution
and delivery of deed to the clerk the
city shall have thirty days in which
to except to the sufficiency of the
conveyanceS; and if approved by the
court and accepted by the city, the
city shall have sixty days after the
clerk in which to pay over to him
the sum of $4,000, the amount awrd-
ed by the appraisers, the court re-
serving the power to determine to
whom said money shall be paid and
to permit any person or corporation
claiming an equitable lien on the pro-
ceeds to intervene for their protec-
ton.
Sixth: That upon such payment
oh a
the city the deeds held by him in
escrow, whereupon all title and inter
est in said water works plant and
property on the part of the defendant
shall cease and determinate.
Seventh: The city shall have the
right to enter into any agreement
with the bondholders to assume the
debt or to pay the $4,000 of bonds
referred to so as to release the de-
PENDANT company from its obligation
and any agreement or payment in that
respect shall be considered a pay
ment pro tanto to discharge the city
from the payment of the $4,000
awarded the defendant by the board
of appraisers, the court reserVing the
power to make needful orders to give
effect to that paragraph of the de-
cree.
Eighth: That the city is entitled
to all the earnings of the water com
pany since the 18th day of August,
1903. and the amount retained by
such company to the 1st of April,
1905, having been found by Special
Master ,Sain to be $1,916.91, that
amount and ell other earnings which:
shall be ascertained from the LIST of
(pTil, 1905, to the date on which the
property is turned over to the city
shall be considered pro tanto a pay
ment on the sum of $4,000, as
awarded by the appraisers the court
retaining power to correct the report
of the special master or to make
other necessary orders in this behalf.
Ninth: That the defendant com
pany shall pay the costs of suit. to
be deducted from the amount paid
into court under the decree, and the
city shall recover from such amount
its costs expended therein.
Tenth That the court reserves
power to make further necessary or
ders, but that otherwise the decree is
final.
(signed) THos. r. PURNELL,
u. S. Judge Etc.
Judge T.. r. Purnell of the Circuit
Court yesterday filed his decree in
the case of City of Fayetteville COM
plainant VS.. Fayetteville Water, Light
and Power Company. defendant.
Under the city of Fayetteville fran
chise granted to the waterworks COM
pany the city reserved the right to
purchase at the expiration of ten
Continued on Page Six.)