The Hood River glacier. (Hood River, Or.) 1889-1933, 1910-01-13
WATER CONF Any
ANXIOUS TO SELL
STOCKHOLDERS ELECT DIRECTORS
Evans Protests and Introduces ResOl.
utiOnS Which Are Promptly
Tabled.

IL developed IN the annual STOCK.
holder meeting held Monday and
tuesday that the Hood River Electric
Ligh:, Power Il Water Co., is getting
pretty anxious to let go ot their
water plant to the City of Hood
River, as the new municipal plant
begins to take shape. President Ii.
+. Davidson, Of the company, urged
n. @. Evans, minority ockholder
who has been Ruing the company and
it's directors and recently obtained q
Judgment against Davidson, to ex-
press his idea of the value at which
the water plant should be carried in
the financial statement OF the CON-
p8ny. The water plant has formerly
been carried along at the book cost
price, which now amounts to S54, 600,
with no allowance for any deprecia.
tion.
Ii seemed in view OF the new mum.
oipal system to be installed and the
recent court decisions that the
officers believed the value should be
considerably revised to agree more
nearly with the price the company
could sell 1t for. Davidson suggested
$40, 900 to Evans as price ter the
water system but the latter stubborn
iy refused to commit himself on
the value uutii the plant was In
condition to sell and its actual hold
ings known, although Davidson Gc-
cused him of knowing more about the
plant than he (Davidson) did.
Davidson stated that they we're mot
contemplating anything except to
make the most out of it," Manager
h. K. Gott was Of the opinion that the
stock we're ''sll In the same
boat" and I'VE are kind of up against
it," The directors ot the company
state that they would either have to
sell out or operate competitive
plant and they do not seem to believe
the latter s3ht me will prove profitable.
Before the meeting OF the stock
holders, the directors visited Mayor
u. Mcdonald and consulted him In
an etfolt to find out what the city
would pay for the corporation
plant. The Mayor gave no definite
official answer but as ar individual
he said that he believed tho city
would be willing to buy the water
plant providing a fair price could
be put upon it. Inc Mayor states
that his idea of fair price Ia the
actual cash value of the plant to the
oity, plus cne years revenue (Which
he believes to be about $40, ,0O0) as a
bonus. The Mayor told the water
company that II they would put their
plant in shape 10 sell it, free from
inoum branoe, at fair price, the
conncil would put the question up
to the people. The stockholders Of
the water company upon motion by
| Mr.. GoH decided to postpone the
annual financial statement Of the
company until the Evans case against
it was disposed Of.
Throughout the meeting of the
stock olders, Evans objected strenu.
ously to most of the action taken and
his objections we're overruled by
Davidson, In the chair. Evans OBJ
jected to the voting of certain shares
of stock held by W. III. Chipping,
which we're not paid for. There we're
767 shares OF the stock of the company
present and voting, while no effort
WAS made to vote about 1000 shares
which were recently cancelled by
decree OF the court. Evans maintain.
ed that without this cancellation
having been made on the books of
the company there was no quorum,
of the stock actually issned present
and that the meeting could not do
business. Davidson ruled that the
illegal stock was present, but not
voting, and that there was quorum.
-Four motions we're made by Evans
and tabled by the stockholders. The
first motion was that the 834 shares
OF II. Il. Davidson and the 7S shares
held by W. II. Chipping, which wele
cancelled by the recent court decis-
ion, he cancelled on the books of the
company, His second motion Was
that the two DEGREES of the court be
spread upon .the minute books OF the
company, His third motion was
that his following pi otest be placed
upon the minute hooks Of the cor
poIation:"
~, a stockholder, hereby protest
against the Hood River Electric
Light Power, IL Water Co., paying
any court costa or expenses, attorneys
fees, witness fees or any fees con-
nected with the defense (in the cases
decided by Judge W. l.. Bradshaw,
Dec 22nd, 1909, viz. N. q. Evans IS.
Ii. Il. DaVi0son, Leslle butler, III.
K. f.. L. p. & W. Co., ct al, and N.
q. Evans vs. II. F.. Davidson, Leslie
Butler, Ii. X. Il. L. p. l. W. Co.,
and Portland Trust Co., OF al. y for
illegal acts of the directors OF said
Hood River Electric, Power 81 Water
Co., and | demand that action be
taken at once by the directors OF
said corporation to recover all
moneys paid in said defense from
J said corporations moneys"
Evans fourth motion asked that
be be reimbursed for bis expenses
and attorneys fees In the two case'
which had been against the officers OF
the company.
Ii. +. Davidson, j. l.. Hender son,
E. h. Goh, W. Ii. Chipping and Il.
M. Davidson were reelected directors
OF the corporation.