Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-27
NOTICE.
For the Purchase OF the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
AxNApoIIS. Mn. January 81 1915


The following Preambles and Resolutions
having been adopted by the Mayor. Coun-
selor and Aldermen of the City OF Annap. :
lis. Md at "A meeting held IN January n
1919 f. hereby published for thu informrtion
and guidance OF ali who may be concerned IN
its provisions
WHEREAS. The Mayor. Counselor and AL
dermrn OF the City of Annapolis, already
own ng 20l shares OF the capital stock of the
purchased the States interest Zoo shares
of said capital stock. making total of 800
shares now owned by the city, leaving 42a
shares OF said stock held by private owners
AND WHEREAS. The principal object the
city bad in acquiring the control OF said
Water Company was to enable II 10 furnish
consumer the purest water possible at the
lowest cost consistent with economical and
efficient management OF the affairs OF the
company
AND WHEREAS Tho private owners Of
said stock have been receiving liberal divt-
dends on their investment resulting from
rat. OF wat rents which some consumers
have considered higher than was necessary
and rs there may arise un er the present
changed Ownership OF the capital stock
differences of opinion between the city au-
th"rities repre.entinR and being chiefly
interested in the water users and the pri
vate stockholders who naturally view their
Investments thu stock from the standpoint
ofdiVidrnd earning and pront TO themselves.
And as IL is disirahle that there shou d be- no
conflicting interests I'm the management Of
the Water Com pany, and rs IL is also desira-
Bile that the private stock holders should not
toe made TO reel 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 their
stock att fair price.
RESOLVED. That the Finance Commission,
consisting of the Mayor, the Counselor ana
the Treasurer be- and they are hereby au-
thorIzed and directed to Immediately enteI
into and consummate negotiations with the
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 $500 per share, that
being the highest ma .ket price heretofore
pHid therefor. or total of 81 SS5 90. and that
| the said Finance Commission be and they
| are hereby authorized and directed TO bor-
| row not exceeding S27 SIS 90. at a rate not
exceeding per cent. terest, to be used TO
pay for said stock, and toe and they are
hereby authorized and directed to pledge
| laid stock as collateral security for the said
loan.
| RESOLVED. That the offer above authort-
| ICED TO be made be in force for IS days from
the 24th day of January, 1879 and no longer
and that notice he given by advertisement
| in the Evening Capital" Of Annapolis. and
b such additional notice as the aid Finance
COMMISSION may deem advisable F.: and
RESOLVED FURTHER. That the City Clerk
at once communicate direct by registered
| letter with zach stock holder. submitting
the aforementioned offer.
By order OF the Bo'rd,
PHIL. f. PORTER.
t-9Sf fly CLERK.