The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-12

noa,,.;nn of SIS, 900 in the FUR
Prize as Originally Decided
On.
,nbo hoard o. aldermen, in special
session at the city hall last hight
tor receiving the report OF lhe 0p0N"
committee of citizens which hdu Doo'
.nnointed to make an lnVesCis""i"1
~ rho present earning capacity vi TIC
fla rendon WaterWOrks COMPANY '"
a5 unanimously to receive the i'p'+'
.us IA adont it's Recommendation Chd'
~n+ract no entered into with Ire
company to purchase the plah' Oh 'N0
same terms, conditions n oate aSie0
ments as before only altering tNo
s,m nroposed from $l55,OOO to sl4o'-
Geo.
The action Of the aldermen Will nave
to no concurred in by the board Oh au-
Az. ,nd 6nance. which will probably
he called i'll special session on Moh-
nay for the purpose, following Which
the new offer will he made to the Gla'-
epdon company, which it Is slnceieE
noa nv the citizens generally Will Ee
accepted.
The board met in the mayor OIL
flee and if was called to order snort
l. before 900 O'clock Dy M"s0'
Springer. the following members De-
tnS present:
aldermen Kari, Ellis, O'Brien, Noi-
,hrop. Botles, Wood. hrencn, Je"eli
and King. There were also III a.
tendance Col. Walker Taylor alG
Nessrs. NJ. W.. Iacobi n {. W.
Worth. the special committe appointed
.t the speciaI meeting of the board
m Monday last to make the 1nVestlS'-
ZION as to the EARNINGS OF the Cl%1Iel'-
don ompany and then to repolt u
the hoard, with Their recommendations
Ctv Attorney Bellamy and seVera! III
terested citizens.
Nayor Springer stated that the meet
Ing had been called to receive IhG ~
,,ort of the committee
The report of the committee ""=
made bv Col. Walker Taylor its chair
man who stated that the conlhlII1ee
was ready to make its report ana LA
II was made unanimously 10y the cohl
~r,7ttee without having consulted O.
conferred with any person on penal
o. the city, the water people or CT
izens. and he then read the repcr
which was as follows.
TO His Honor, the Mayor ana hodI'
of ACKNOWLEDGEMENTS:
Pursuant to our resolution the VI
dersigned COMMITTEE of citizens haV
investigated the present earning ca
racity" of the Clarendon WaterWork
as evidenced by their books whichever
cheerfully furnished us.
The recent earnings would natuid
" confne our attention to Its los
wears financial operations We hHV
made no investigation of it's pEyslcs
condition.
We found from its books
Gross income from all
aomroas $33.1s
Expense from operating S22'4lZ
Interest on bOnds...... 4'ooo
Interest on floating debt 395 2',1'
Ssh
Ihis shows a profit in operate
alone not hCluulIS IHtSlCSI Hh"Ao
OF practically $10,7O0, which will pro
ably be increased in the future rs u
operation Of filter will be more +
miIiar and so more economical.
After an analysis OF the figures
every way the committee has decldt
: that a recommendation as below w
be fair and equitable TO both slucs.
We would recommend that 20
board with the approval of the board
audit and finance, make a %propositi'
to the clarendon Waterworks Coz
uany. that you will make a contra
with them to purchase the plant on t
same terms, conditions ana date agre
ments as before, only altering the 81
proposed from s155, 900 to $14O,O 600
Respectfully submitted
WALKER TAYLOR
C. w. WORTH
MARCUS w. jacob
Alderman French asked on WI
basis the committee reached the OPP
ion that $4,000 was the right sum
offer.
Chairman Taylor then at length
viewed the amount of earnings. t
value of the plant as stated in the i
ports of the expert engineers and
claimed by the company and on '
rious compromises, based ON difcre
figures, the amount Of $14O,6e0 Il
been arrived at In three ways, whi