The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1910-08-25
,ordance with the custom in such

power, and the prospect OF the de-
Yelopment here has received practi
ally no publicity outside OF the town
IN opportunity has already presented
ITSELF TO dispose of sufficient po@ei
10 meet all operating expenses AND
iSed charges Tor period Of ten
sears. The parties agree 10 construct
transmission line 10 the p0weI
plant at their OWN expense, and tt
contract for certain amount Of elec-
Lrical power for ten years. This con
tract to provide that II the local de
mand shall require any part OF the
amount during its life, the Skowhegan
Company may decrease same accord
ingly by giving a years notice.
To assure additional and immediate
business, your committee recommends
that this corporation purchase the
entire plant and franchise of the
Skowhegan Electric Light Co, and
convert the latter's present plant into
a distributing sub-station. This would
give the new corporation not only a
we'll established lighting and power
business, but also would enable 1t,
through the steam auxiliary of the
Electric Light Co, to supply power
TO the several present Industries dur
ing the short period between the re-
moval of the present water wheels,
and the beginning of business by the
central power station. The plant of
the Skowhegan Electric Light Co. is
thoroughly modern and has no supe-
rior for its size in the State.
After mature consideration of this
subject following consultation with
men experienced in similar enterpris
es. and a study OF all the charters,
constitutions, and bylaws of the va
rious power corporations, that we
could obtain. this committee has
unanimously voted to recommend the
following proposition TO the several
water power owners of Skowhegan:
First-That corporation be form
ed by the consolidation of the sew
eral companies and individuals own
ing the power at SkOWhegan.
Second-That the value of the sew
eral privileges, and such other prop
erty connected herewith as may be
deemed necessary, constitute at least
- per cent of the capital stock of the
corporation.
Third-That the entire cost of the
development including condemnation
damages, etc. be covered by an issue
of first mortgage five per cent bonds
to the amount of one million dollars.
Fourth-That the number of cubic
feet of water per second, to which
each of the several owners are en-
titled by deed. be used as the unit
for determining the basic value of
each power. and thereby the fraction
al interest in the new corporation, to
which said power owners would be
entitled on. giving deeds of their pres
ent powers to the new corporation.
Fifth-That the monetary value of
the basic unit of value be determined
upon by a majority vote of the above
mentioned fractional interests at a
full meeting thereof.
SiXth-That in addition to this Gu
bic foot value of the power alone, the
value of the present development
plants of the several owners Ito be
determined by competent hydraulic
engineer) and the value of such other
property connected Herewith as may
be deemed necessary for the new
corporation, be reckoned in determin-
/ ing the final fractional interest of the
several owners in the new corpora
/ ton.
Seyenth-That each company de-
eide upon the position it will take
/ in this matter as soon as possible
and appoint fully authorized rep
resentative with power of attorney
for a meeting of all the power own
ers of Skowhegan, to be called by the
water power committee OF the Skow-
hogan Board of Trade, to be empow-
cred to act upon the following war
rant to wit:
To elect a moderator.
To elect a clerk
To hear the report of the water
power committee of the Skowhegar
Board of Trade.
To determine the best method Of
consolidation into a corporation tC
develop the full capacity of the water
power site at Skowhegan, and pass
all votes concerning same.
To adopt a certificate and articles
of Incorporation, and execute an ac-
knowledgement of same.
Eighth-That as soon as this tenn
porary organization is effected, con
tracts and agreements be entered into
between each of the owners as party
of the first part, and ali OF the owners
as party of the second part. repre-
scented by the temporary organization
to transfer title to their respective
properties to the corporation, as soOr
as it receives its charter from the
State.
The Board of Trade and the town
of Skowhegan have instituted the
survey and examination of the power
privilege, because they believe that
the complete development of the wa
ter power at SkoWhegan will mean .
tremendous growth in population and
+ wealth to this town. A consolidation
OF powers under this plan will give
Skowhegan the third largest water
power in New England A Continu-
ance of the present condition of pow
er development offers little prospect
for future growth of the town. This
plan enables every power owner to
reali2e the fun value OF his power as
he can never hope to do acting indie
pendentlY He will he assured o.
guaranteed power for his own use
SO days in the year, and at the same
time keep the title to and the con
troll of the power in Skowhegan
where it can be used for building NJ
the industries here as fast as manu-
facturers can be persuaded to locate
II Will be the only power in the
Site of Maine where the above il