The semi-weekly messenger., 1907-10-29

Notices for n special meeting of
| the board of aldermen TO be held to-
night at the city hall. were issued
by Mayor Springer yesterday.
The meeting has been called To
consider the waterworks situation,
and after long discussion and nego-
tiation, it Is believed that a settle
ment, which will be satisfactory To
all parties has been reached.
1t is understood from n reliabla
source that the Clarendon Water
works Company has signified its will
business for the board to transact
made by the waterworks committee
of the board of aldermen for the dis
posal of their plant TO the city. and
this fact will be reported at tho
board meeting tonight. The only
busines sfor the board To transact
will then be the ratification of the
offer made by its committee. Fob
lowing this, which IL can be stated
will surely be done, the board or
audit and finance will also be called
in session. probably tomorrow night.
to consent to the terms agreed ON
and then the matter will have been
closed, except the actual signatures
OF the contracting parties. All these
matters will be settled next week
and from present indications the
Clarendon plant will be turned for
mally over to the city, as its prop
erty on November 1st.
After the meeting OF the board OF
audit and finance To ratify the offer
Of the waterworks committee, n sec-
ond special meeting OF the aldermen
will be held to elect the boards mem
Der of the waterworks commission
Mayor Springer at the meeting will
probably appoint the member who
the bill delegates he shall appoint
and the board of audit and finance
will later appoint their member OF
the commission.
The water commissioners viii have
full power under the bill and they
will act in the formal transfer. i'm
mediately taking charge OF the Clar-
endon plant.
The questions of superintendent.
employees. rates and other matters
will be In their hands. and therefore
for the good Of the city IL is the hope
that only business men OF ability
and experience vii lbe given places
on the commission, which will have
vast powers under the measure IN
der which the commission Is Gre
ated.
The offer made by the waterworks
! committee OF the board OF alder
men to the Clarendon Company,
| amounts to $155,000 and IL Is un-
| derstood that the officials OF the lat
| ter company have signified their Will
| ingness to accept that amount.
| The plan OF payment Is consider
10 a
vised in fairness both TO the city and
to the company. 1t provides the pay
ment Of 10000 in cash the day the
transfer papers are signed: a note OF
the city for S25 900 at 4 " per cent
interest, payable in one year; a note
Of $4,000 at u per cent, payable
in two years a note OF $4,000 at AZ
per cent payable in three years; the
city also TO assume the cOmpany'B
outstanding bonds amounting TO $780,
900. which will be due in about four
years, the interest on these bonds
being per cent The only cash out
lay is therefore seen TO be $4,000,
the balance being paid in bonds and
notes.
| Under the terms OF the agree
ment the city amply protects itself
ragaist the outstanding law suitz
| against the IidIeHuOH company.
| II the deal is ratified by the two
municipal boards, and there is no
doubt but that II will be the city will
assume charge OF the plant on Fri
day OF next week. The Clarendon
Company Of course gets all the mon
ey due up TO that time and also It's
quarters rent collected up to Octo-
ber 1st, assuming however all debts
due on the date OF transfer including
salaries, supplies, etc. The city VIII
fulfill all contracts made by the COM
pany with its patrons.
The amicable settlement OF this
matter, on a basis mutually accept
ahle to both parties, will be receiS-
ed with unusual appreciation In this
city, where the waterworks question
has been one OF mooted discussfon
for several weeks past.
The committee OF the board OF AZ
dermen which conducted tNe ne~o-
tiations is composed n
w. Wood, c. p. Bolles, Jr.. and r
A Karr. Mr.. Bolles having Conducted
the final negotiations in the absence
of Chairman Wood Of the commit
tee.