Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-09
Q TICE.
For the Purchase of the Interests OF
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.


The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen of the City of Annapn-
us. Md. at "a meeting held on January %.
1912. ~ hereby published for the Information
and guidance of all who may be concerned in
it's provisions:
WHEREAS, The Mayor. Counselor and AL
dermen OF the City Of Annapolis, already
owning POO shares of the capital stock OF the
Annapolis Water Company, have recently
purchased the states interest GOO shares
Of said capital stock, making total OF 800
shares now owned by the city, leaving 12e
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 to enable II TO furnish
consumers the pureSt water possible Mt 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 CiVi-
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-
thUrities repre- enting and being chiefly
interested In the water users, anu the pri-
waite stockholders who natually view their
Investment In the stock from the stand point
OfdiVidend earning and profit to themselves
And rs il IS desirable that there should be no
conflicting interests in the management OF
the Water Company, and as 1t is also desira-
bic that the private stock holders should not
he made 10 feel that by reduction of water
uneut 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 au-
thoriZed and directed TO immediately enter
ntO 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 there
for be not more than S6500 per share, that
being the highest market price heretofore
paid therefor. or "a total of S97,SS5 90, and that
the said Finance Commission be and they
ara hereby authorized and directed to Dor
row. not exceeding so SIS 90. at a rate nos
exceeding per cent. interest, to he used to
pas for said stock, and be and they ara
hereby authorized ana directed to pleGEe
said stock rs collateral security for the said
loany
RESOLVED. That the offer above authori-
lied 20 be made be in force for Is days from
the Path day of January, 1912 and no longer
and that notice be given by advertisement
tu the Evening Capital" OF Annapolis, and
b. such additional notice rs the said Finance
Commission may deem advisable and
RESOLVED FURTHER, That the City Clerk
at once communicate direct by registered
letter with each stakeholder, submitting
the aforementioned offer.
BY order Of she Board,
PHIL. K. PORTER,
i-23tf City Clerk.