The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1911-04-06
BOND ISSUE BY Z
THE MUTUAL To
Be CONTESTED
APPLICATION BY COMPANY TO
BE FOUGHT BEFORE RAIL.
ROAD COMMISSION.
Ex-Mayer Hopkins and Officers Of the
Light and Water Company Left
Last Night for Atlanta. Where Con.
test Will Occur Today.

There will he a contest before tie
Georgia railroad commission in At
lanta today over the application of
the Mutual Light G. Water company
of this city to issue one million of
dollars in bonds.
Very few people in Brunswick are
aware of the fact that the local con-
cern is asking the commission for
the power to make this bond issue as
Very little publicity has been given to
the subject. However, the company
has asked the commission for such
authority and the matter will come
aqD for a hearing in Atlanta 1is
morning. with the condition above re-
ferred to. existing. Hon. r. r. Hop
hins, VITO up to the first Cf January
was mayor of the city, representing
certain property owners and business
men will appear before the commits
sion tomorrow in opposition to the
plan and the company will be repre-
sented by President Strachan and at
Twitty. Mr.. Hopkins was seen by a
representative of The News on the
subject yesterday afternoon and when
questioned on the subject he said that
ne was going to Atlanta for the pur.
pose of appearing before the commits.
sion to formally protest against the
granting of the application in ques-
i tion. Mr.. Hopkins takes the posi-
tion that the &C mpany should not at
this time he permitted to issue bonds
so much in excess CT the physical
value of tie plant, and he says that,
if the people permit the thing to be
done at this time, that when lthe
present ten-year contract with the
city of Brunswick expires, there will
be no reason why ble railroad CON-
mission would not permit the COM
pany to increase it's rates on water
gas and electricity in such a sum as
would produce fair interest on the
issue.
Discussing the matter further, Mr.
Hopkins said, 81 believe that the peo-
pie of Brunswick should have been
fully advised on the subject of 6lis
bond issue and called upon the Mu-
tual Eikht & Water company to post
pone the hearing of the application
until myself and many other citizens
of the town could have an opportunity
to investigate the subject, with a view
of finding out in just wf'at manner
the issuance of such bonds would af-
feet the city. | was given to under
stand, however, that no such post
ponement would occur, and I am
therefore going to appear before the
commission and protest.
Mr.. Hopkins says he is acting for
the best interest of the city of Bruins
wick and for the citizens generally
in the premises.
President Strachen, of the Mutual
Light &, Water company, was also
seen on the subject and discussed the
matter very frankly. He says the
company wants to refund the out
standing bonds of the company
amounting to $225,0oO, and that $175,-
900 of the bonds areto be used in the
purchase of a like sum of the bonds
of the City & Suburban railway. The
rest of the amount of the issue asked
for, President Strachen says is to be
used for the betterment and the ex-
tension of the plant of the concerns
from time to time as the city grows
and develops. Mr.. Strachen says
that the company has safe guarded in
every possible manner the rights of
the city and that the only reasons
for the application are those set out
above. He says that he did not know
and had not heard of any opposition
to the proposed issue of bonds until
yesterday morning.
The party left for Atlanta via the
Southern last night and the matter
will be thrasi1ed out before the rail
road commission today.
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