Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1911-12-29
PRICE BID A GAMBLE
History Of the Matter Of Securing Con-
troll of Annapolis Water COmpanY's
StOck-Committee Did Its Best
Under Existing Conditions.

Mr.. Editor:
Now that the smoke of the battle
has cleared away and the representa-
tives of the city have secured control
of the Annapolis Water Company for
the benefit of the citizens, some his
tory of the matter is due tC those that
do not understand why it was neces-
sary for the city to bid the sum of
$10l l-2.
After the meeting OF the citizens
held at the Assembly Rooms, the City
Council authorized the Mayor to APP
point committee to take such steps
as would secure the city from the
danger of the water supply falling
under the domination of private in
terests.
This committee. after various con-
ferences with the Board of Public
Works and individuals, finally reached
the conclusion that the best results
could be obtained by purchasing the
States stock at the present time.
Under the plan pursued by the
Board of Public Works in selling the
securities held by the State, there
| was no possible way for the commit
tee to ascertain what sum would be
bid for the stock of the Water Com
pany. Sealed proposals to be deliv-
cred at a fixed hour and the highest
bid to get the stock.
1t, therefore, became nothing more
or less than a gamble as to what
price would be bid In view of the
rumors that reached the ears of the
committee that there was a syndicate
being formed for the purchase of
the stock at high figure and other
| information of a disquieting charac-
ter, there was nothing left for the
committee to do but bid high enough
to run no risk of losing such a val.
liable proposition.
The bid of over $50 per share by
gentlemen in the position to know the
value of the Water Company should
reassure the citizens. The question
of Sl0,9G0 which the committee bid il
excess of the bid of these gentlemen
is comparatively small amount wher
it is taken into consideration the diff
erence between private and municipal
| control.
/ will make the assertion that the
plant of the Annapolis Water Com
pany could not be duplicated for
$500, 900, and that the plant, real es-
tate, piping and franchise is worth
| that amount.
Of course, hind-sight is far and
away more dependable than fore.
sight, and there are probably some
citizens that will make the assertion
that the committee ought to have
known enough to bid $S4 for the
stock, but the committee feel that
| they did the best they knew how and
are thankful the matter is over anC
the city secured.
These gentlemen have been through
great deal of worry and felt the
responsibility keenly, and they be.
lieve that time will justify them in a
matter that is of more Importance to
the city than anything that has hap
pened in the history OF it.
The future is in the hands Of citi-
zens themselves and they should see
to it that their interests are safe
guarded. Serious thought should be
given by those with the welfare of the
city at heart, as to how and by whom
the Water Company is to be managed.
1t will take efficient and capable man
agement to run the company so that
all interested may obtain the best
results. Politics must be kept out
and it is up to all to see that it is.
Respectfully,
JOHN dep. DOUW.