Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1911-12-28


at noon today opened the bids for the
States holdings Of the capital stocl
Of a number of corporations which il
was deemed best for the State tc
dispose of, there were three bids OF
interest or Importance to Annapolis
and Annapolitans.
These were the bids for the six hun.
dred shares of the capital stock of the
Annapolis Water Company and for q
block of the stock of the Farmers
National Bank. The bids were open
ed in the office of the Comptroller,
as the law requires, the opening and
tabulation being done by Comptrol-
Ter Vandiver and Treasurer Stanley.
They were then taken to the private
Office OF Governor Crothers, in the
Mansion, where the Governor is con-
fined with a severe cold. After a
discussion Of all of the bids, it was
determined to postpone the actual
sale Of any Of the stock until tom Or-
row, when the Board of Public Works
will meet again for this purpose.
While the Annapolis Water Com
panv stock was not sold, the city,
through Mayor James f. Strange and
Collector W1nson G. Gott, made the
highest bid, and it is expected that
the municipality will be the purchaser
when the sale is made tomorrow. The
city bid SEQ, 800 for the whole six
hundred share, and the only other bid
was one of $4,000 This was from
}. Writ Randall, Harry J. Hopkins
and number of other individual
holders of stock in the company.
The other bids of interest to Annap-
oils were those of Townsend Scott &
Company, of S44 per share, and of
Poe and Davis for $4,000 per share
for the stock of the Farmers National
Bank.
The States interest in the Annap-
oils Water Company, amounts to six
hundred shares of capital stock at a
par value of $50 per share. This is
the largest block of the Water Com
pany's stock in one holding. The COM
panv is now capitalized at $751; ,450, a
total of twelve hundred and twenty
nine shares. OF these the city of
Annapolis holds two hundred shares,
and there are four hundred and twen-
ty-nine shares outstanding in private
hands.
For years these private holders have
had complete control of the company,
and one of the greatest necessities of
life to the people of Annapolis, a pub
lie utility of the widest Importance
to the city, has been absolutely in
private management.
The Mayor, Counselor and Aldermen
of the city had full legislative author
ity, and were abundantly justified in
making the bid which has, it is thought,
secured to the people their water sup
ply.
All honor to the administration of
Mayor Strange for thus having prac-
tically secured for the benefit Of the
people of Annapolis the control of
the Annapolis Water Company. 1t is
all very well from the standpoint of
money-makers for the city's water
supply to be in the hands of private
owners, but from the standpoint of
the city's welfare it is safest in the
ownership and control of the people.
Communities are adverse to placing
the public health and the public safety
and the public welfare under the dom
ination of private interests. The
men behind these interests may be
good men, of public spirit and with a
due perception of their relation to
the community, but there is always
the danger of individual irresponsi-
bility, and of corporate greed and ne
glect and defiance. A private corpo-
ration exists for the purpose, first, of
making money, of returning to stock
holders the largest possible dividends
upon their investment, and it is sub,
iect to change of management, of pur.
poses and fidelity to the people.
Many things are the Legitimate sub
ject of barter and trade, and it is the
commercial spirit that has done 81
much to build up this great country
but in the light of the progress and in
telligence of today, of the adjustment
of view as to matters of public con
cern, the making of the water suppl!
of city merchandise in the hands O
money-mabers and would-be money
makers should be inconceivable.
When the Legislature in 1865 Great
ed the Annapolis Water Company ant
put behind it the strength of the Stat