Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-31
NO E.
For the Purchase of the Interests Of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
ANN pnrFz An Tguuary q II


The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor ana Aldermen OF the City Of Annapn-
us Nd, at "a meeting held on January -.
1912, f. hereby published for the infOrmrtion
and guidance OF all who may be concerned in
its provisions
WHEREAS. The Mayor, Counselor and Al
dermen OF the City OF Annapolis, already
own ng 200 shares of the capital stock OF the
Annapolis water company. have recently
purchased the states interest toOO shares
of said capital stock, making a total of 800
shares now owned by the city, leaving 429
shares of said stock held by private owners.
AND WHEREAS. The principal object the
city had in acquiring the control OF said
Water Company was 20 enable Il to furnish
consumers the purest water possible at 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 dtVi-
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 un1er the present
changed ownership OF the capital stock
differences of opinion between the city Ru-
thurities representing and being chiefly
interested in the water users, and the pri-
waite stockholders who naturally view their
investment In the stock from the standpoint
ofdivfdend earning and profit 20 themselves.
And as 81 is desirable that there should be no
conflicting interests I'm the management OF
the Water Company, and as II 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 their
stock alta fair price.
RESOLVED, That the Finance Commission,
Consisting of the Mayor. the Counselor and
the Treasurer be and they are hereby Ru-
thortzed and directed to Immediately enter
into and consummate negotiations with the
holders OF said private stock with the view
to purchasing the stock OF said private
stock holders; provided the price paid tn ere
for be not more than $500 per share. that
being the highest market price heretofore
paid therefor or total of 81, SIS 90, and that
the said Finance Commission be and they
are hereby authorized and directed To Dor
row. not exceeding t37,sS5 co. at n rate not
exceeding per cent. Interest. TO he used TO
nay for said stock, and be and they are
hereby uthorized and directed TO pledge
said stock as collateral security for the said
loan.
RESOLVED. That the offer above authori.
ICED TO DO made he in force for 10 days from
the gath day OF January, 1919 and no longer
and that notice be given by advertisement
In the Evening Capital" of Annapo and
by such additton0lnotice as the said Finance
Commission may deem advisable ; and
RESOLVED FURTHER. That the City CLERK
at once communicate direct by registered
letter with each stock holder, submitting
the aforementioned ofier.
BY order of the Board
PHIL. f. PORTER
j-23tr City CLERK.