The weekly herald. [volume] (Amarillo, Tex.) 1906-19??, 1908-06-11

development which was brought be-
fore the mass meeting OF citizens
last night, and a similar enterprise
for the furnishing Of water and lights
was discussed as a project not sec
ond in importance but second In or
der on account of the greater size OF
the undertaking necessary TO supply
such service.
Hear Report.
When Judge r. II. Lakewood
called the meeting to order at .
o'clock, there was small but rep
resentative body OF citizens present,
First in order was the report Of the
committee appointed at the last
meeting 10 investigate possibilities.
w. Il. Gee read the report, which
was signed by the other members,
j. II. Gouldy and II. II. Cooper. as
follows:
Cant Vote Bonds for Phones.
"This meeting was announced as
a quasi-religious gathering" explain
ed w. Il. Gee, speaking further in
response to the chalrman's request
Tor a statement Of the objects OF the
meeting" because 1t was suggested
that a movement for improvement
along the lines of better water and
telephone service would tend to the
cultivation of many Of the Christian
graces." He then told OF the infor-
nation given him by the gentlemen
from other places OF the success Of
mutual companies. In one Iowa
town OF considerable size he said
phone rates were 81 for residences
and 50 for business houses. In
Kansas town Of 1000, of which he
knew a mutuahcompany is supplying
service at from 80 to 35 cents per
month to residences. II am inform
ed, and IL am incorrect l should
like to be corrected, that the pres
ent telephone concern is preparing
to issue 100000 stock and TO issue
and sell 100000 bonds. If that's
the case and we ever try to regulate
the rates the company charges by
going into court as the statutes pro-
vide, we must allow, and the courts
would allow that company 10 per
cent on that 100000. II the capt.
talization is less OF more the proper
ton would be the same. The citizens
would have to pay profit on all
OF it."
He then explained that although
city may vote bonds for water,
light, and sewer plants and for public
buildings, no provision is made for
telephone plants. But IL the mutual
telephone company secured a tele-
phone franchise with a purchase
clause, the city could take over the
plant at any time, by assuming the
outstanding bonds and could then
take up the citizens shares of stock
by paying them in service for the
shares. Then the city would own the
plant which could be operated at the
cost necessary to provide for the
maintenance and for a sinking fund
to retire outstanding bonds. The
plan as outlined in the reCommen-
datlons OF the committee was for a
capitalization of $4,000. On this
bonds could be issued to perhaps
$4,000 secured by the plant itself.
70 prevent a few men from ever
gaining control OF the company, a
provision would be embodied in the
charter allowing every holder
whether of one or a hundred shares,
only one vote and iorbidding the use
of proxies.
Appoints Working Committees.
After discussion OF several uues-
lions suggested by the plans Judge
Lakewood took the floor and spoke
at some length strongly in favor OF
any plans that would guarantee to
all the people OF Amarillo adequate
telephone service and water and
light service at reasonable rates. He
told OF commendatory statements
made him since the last meeting by
some Of the most substantial men in
the city concerning the plan started
by the meeting, and he bespoke for
the plant success If the people show
ed fair degree OF appreciation OF
the benefits to be derived. In con-
he emphasized the fact that
all the men interested in the move
ment were interested solely from the
standpoint OF public service. mo
body has card up his sleeve" he
said, "and nobody has an ak to grind.
Whenever 7 find man taking part
In these deliberations and trying to
promote this movement who has a
private ak to grind, I am going to
name that man right out in meeting,
4 don't care who h els This Ia for