The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1908-10-09
PUBLIC UTILITIES Co.
FOUR WESTMINSTER CORPORATIONS
MFRGED into One
The Reasons Therefor and the Bene.
fits That viii Result

lilo luut Will nGOull
On October /, 1908, the consolidation
of the Westminster Water Company
the Citizens Water and Power Com
I pany, the Westminster Gas Light Com
! pany, and the Carroll County Electric
Light and Power Company was effect
ed, and the new corporation formed
is called 1.-THE Consolidated Public
Utilities Company of Westminster
The new company will have an au-
thorized capital stock of $150,000.00,
divided into $1,000 shares of the par
value of $40 each, and will have a
bonded Indebtedness of $3.50 when
the consolidation is complete. This
bonded Indebtedness is made up of one
of $4,000 on the Westminster Water
Company, one of $4,000 on the Citi-
zens' Water and Power Company, and
$40, 900 on the Carroll County Electric
Light and Power Company, and one
of 100000 of the new company. The
bonded Indebtedness on the water COM
panies and one on the Electric Light
Company amount to $105,0O and are
the old or original bonds of these COM
panies and are not disturbed by the
|
bear per cent. interest and are first
lien on the property of the Gas Com
pany and a second lien on the prop
critics of the three other companies.
This new issue of $4,000 in bonds is
required to make the cash payments
for the stock of the Gas Company.
Of the $150.000 of the authorized
capital stock $1360O0 will be issued
in exchange for the stock of the old
companies, and the residue of $4,000
will be employed in the interests of
the company.
The new company has rented that
portion of the Derr Property, on Main
street, next to Moore's drug store,
and will suitably fit it up for it's office.
w. Carroll Skunk, formerly with the
Farmers and Mechanics National
Bank, will be the secretary and treas
urer and in charge OF its Office.
| The president of the company is DR..
J. Howell Billingslea; the vice-presi-
dent, Geo. M. Parke, and the directors
are George w. Albaugh, John H. Cum
bingham, Geo. R. Gehr, w. Frank
Thomas, Geo. M. Parke, J. Howell Bill
lingslea, Francis G. Sharrer, B. Frank
Grouse and Francis Neal Parke.
The new company is the direct result
of the new spirit pervading the town.
The business men are determined to
make Westminster more prosperous
city, and they realized that the only
way to accomplish this was to have
cooperation and joint effort on the
part of the citizens. To secure this
spirit of harmony it was necessary to
eliminate the fight between the most
important of the local industries, the
two water companies and the two light
companies. The warfare OF these RI
val public service corporations en-
tered into every phase of business en-
terprise, embittered the relations OF
our business men, and thwarted every
effort at concerted action in the inter-
est of the town. In addition to this,
the great sums of money spent in es-
tabliShing the plants were almost en-
tirely unproductive. To put the thing
concretely, on $134,000 invested in the
four companies the return to the stock
holders was not 2 per cent. on this
large sum of $134,000 invested by the
citizens of this town in the four plants
supplying the town with the best wa
ter, gas and electric light service in
the State.
| Under these circumstances, the
stockholders of the four companies
buried their differences and formed
new company in the expectation that
by careful and economical manage
ment and the savings effected by hav-
ing one management doing the work
of four separate organizations the new
company could meet all its fixed
charges without trouble and pay rea-
sonable dividend to the stockholders.
There is no good reason why this can
not be done.
When this is accomplished about
$4,000 of idle capital will be made
productive and useful in the develop
ment of Westminster.
The promoters of the consolidation
allowed no water" in the stock. Ev-
cry dollar of the $134,000 issued capt.
tai stock represents an equivalent in
property. The new company proposes
to merit the confidence of the people
by treating them fairly. The gas and
electric light charges remain the same
but there will be an increase OF 20 per
cent over the present water rates
This increase will still leave the wa
ter rents 20 per cent lower than they
were before the Citizens Water and
Power Company started, and while
sary, it puts the water rents at so mod
crate rate that no reasonable man
can complain.
The directors of the company are all
residents of Westminster, are all in
terested in it's prosperity and are so
licitous to manage the affairs OF the
new company in way that will salts
fly not only the stockholders but the
citizens of the town. The success OF
this undertaking is the best guaranty
of low rates for water and light, aud
it's failure means high rates. This is
the reason the company is justified
in asking for the cooperation of the
citizens of Westminster.
AS soon as the certificates of the new
.. company are printed and other details
are arranged the stockholders will be
notified so that they may receive then
on surrender of their old certificates
The Advocate calls attention to the
advertisement of the company in this
issue. 1t will be seen by the advertise
ment that an opportunity is given te
the public to subscribe for the bonds
of the company.