Daily press. [volume] (Newport News, Va.) 1896-current, 1908-11-15
GLIDING street and private lights. So
"1u39 bills dre receivers. S3.S13.4o.
Organization Of Company.

CHUNG street diiu lhifo'' hfoh'"' w.
"7n39: bills dre receivers. $3.S13.4o.
Organization Of Company.
Tn report continues:
AT "A meeting of the stock holders
held on the 24th day Of May. 1906.
The company VAS organize and the
minimum capital to-wl,. $i5G,oo0.oo
of stock having Teen subscribed, at
this meeting it was decided that TN"
en,ir4 capital stock CT $3Oo.0on be is
sued. including III" $4,000 referred
TO- II was also resolved at this meet
ing that s15o.nnU first mortgage. fve
per. cent. thirty wear gold bonds b"
issued to be secured ty mortgage
upon th- rights franchises. privileges
and properties now owned or here
after acQuir. q by the company. IL
was further resolved al this meeting
that the company is aIt nOriZed to re-
ceivp in payment OF such stock rights.
privileges and franchises. labor and
services at such valuation and upon
such terms as might BE- agreed upon
at his meeting. On the motion OF
J. A Barham. il was further resolved
that the number of directors he in
creased from five TO seven. Messrs.
Walter MILESTONE, OF Philadelphia,
and J. NJ. Cumming. Of hampton. be-
ing elected to fill said positions.
The first meeting of the board OF
directors of the company was held
Immediately after the adjournment OF
the stockholders meeting on May 2.
1906. Present, J. w. Rowe. presl-
IL Elonr HorhQno
e. Rees and W. f. Lawson. At this
meeting = proposition in writing bear
ing date of MAY -. 1906. was submit
ted to the company by James NJ. Cum
ming, the grantee Of the franchise.
to the company BY the town of Phoe-
DTS and the town OF Hampton al
ready referred to in this report. by
which II" agreed Or proposed to as
sign to the company the said fran
chises. rights. privileges. etc. in con-
sideration of $4,000 OF the first mort
gage bonds and also the issuance OF
1850 shares of the capital stock fully
paid up and worcestershire. and OF
the issuance OF TAG shares to J. A.
Barham: J. ". Rowe. II. F. Elan and
S. c. Rees getting enc share each. a
part consideration of this said propO-
sition icing the issuance Of the said
shares to Barham. Rowe. EIam and
Res and Lawson. all of said shares
fully paid up and worcestershire.
The proposition further stated that
the company should give the bonds
required in said franchises and die
certified checks, and to return to said
Cumming any money that he may
have paid on account of said fran
chises. On motion of J. A. Barhan
the proposition Of the said Cumming
was accepted and the officers Of the
company were directed TO deliver to
said Cumming or his associates as
called fer in said proposition s15o.O"o
worth of stock and $4,000 of first
mortgage bonds At the same time
7. A. Barham rendered the following
proposition.
To
The President and Directors.
The Public Service Corporation
Of Virginia.
Hampton, Va.
.GentlcmeD:--
| II Offer TO construct and install
| gas plant and distribution system
in the County OF Elizabeth City. in tn.
Town Of Hampton and the Town o.
Phoebus. including the Covert mem
Reservation in the said county fo'
; YOU. according 10 plars submitted this
DAY for SIiG.D0Hn0 cui Of total Is
. sue OF sIJo.0o0e 90 LIST. mortSa , pcI
cent thirty-ysar tonds and sler.oo"."
nf the FULLY paid and non ass"sSabi'
stock Of your Company.
: Out Of the proceeds ~ In" Sait
s,onds. II this proposition Is accepted
I agree to reimburse the cash outlay
In the sum of sI.sco!'o made Ivy th'
Company tn acquiring such franchise
tn give the necessary indemnity bond
caIl,d fer by the franchises: TO con
s;ruct and equip a complct" gas plan
and distribution system in the terri
\ tory named. Of the ;Eos; modern char
| s~tcr: and TO pui toe Company In -
sition 10 supply gas according tn tn
terms Of said franchise 10 the inhahi
,ants Of the distric; named.
| Yours truly.
,s,gned, u. >. BARHAM'
This proposition was upan'mousI!
adopted. tn. record showing Barhan
as not voting A. this meeting. oI
/ mo- ION OF Mr. La~sop. Il Was rssoi,
cd that during the construction pcrio'
! all az The expresses Of the Company
irsi.diug STATE taxes and fees, edic'
,Cocussod 90 Twelfth Pasep.