Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-30
NOTICE.
For the Purchase of the Interests Of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK,
ASNAPoLIs, Md, January ., lgl.

Am AEb4aAEs VI Afst Jt4AlAAhAS AtaAs
The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen OF the city Of Annapo-
lis, Md, at meeting held On January -,
1912. Is hereby published for the information
and guidance OF all who may be concerned in
its provisions:
WHEREAS. The Mayor. Counselor and Al
dermen of the city of Annapolis, already
owning 800 shares of the capital stock OF the
Annapolis Water Company. have recently
purchased the states interest tto0 shares
of said capital stock, making total of SJl
shares now owned by the city. leaving 429
shares OF said stock held by private owners.
AND WHEREAS, The principal object the
city had ia acquiring the control of said
Water Company was TO enable II TO furnish
consumers the purest water possible ut the
lowest cost consistent with economical and
efficient management OF the affairs OF the
company.
AND WHEREAS, The private owners OF
said stock have been receiving liberal diVi-
dends on their investment, resulting from a
rate OF wat rents which some consumers
have considered higher than was necessary,
and as there may arise unuer the present
changed ownership OF the capital stock
differences of opinion between the city au-
thorities repre- enting and being chiefly
interested in the water users, and the pri
waite stockholders who naturally view thciI
investment in the stock from the standpoint
ofdividend earning and profit to themselves
And as IL is desirable that there should be nc
conflicting interests I'm the management oil
the Water Company, and as IL is also desira
BILE that the private stock holders should not
be made to feel that by reduction of water
rents or from any other cause their invest
ment might become less profitable.
AND WHEREAS, The Mayor, Counsellor
and Aldermen desire to afford the private
stockholders opportunity to dispose of theil
stock alta fair price.
RESOLVED. That the Finance Commission
consisting OF the Mayor, the Counselor and
the Treasurer. be and they are hereby au
thoTized and directed To Immediately enter
into and consummate negotiations with tn,
holders of said private stock with the view
TO purchasing the stock OF said private
stockholders: provided the price paid there
for be not more than 5000 per share, tina
being the highest market price heretofore
maid therefor. or "a total of S21SS5 90, and tina
the said Finance Commission toe and the!
are hereby authorized and directed TO Dor
row. not exceeding S21 SO 90, at n rate no
exceeding per cent. tuterest, to be used q
| pay for said stock, ana be and they arr
hereby authorized and directed to pledg,
said stock as collateral security for the sait
| loan.
RESOLVED. That the offer above authori
| tied 20 be made be in force for 10 days from
| the gath day of January, 1912 and no longer
and that notice be given by ADVERTISER
in the Evening Capital" OF Annapolis. anC
by such additional notice as the said Finance
Commission may deem advisable and
RESOLVED FURTHER, That the city Clerl
at once communicate direct by registered
letter with each stockholdcr, submitting
the aforementioned offer.
BY order OF the Board,
PHIL f. PORTER.
i-23tf City Clerk.