Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-25
OTfCE.
For the Purchase OF the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
ANNAPOLIS, Nd. January -. 1912.

The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen of the City of Annnpo-
lis, Md, at a meeting held IN January y
1919. IS 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
owning 200 shares OF the capital stock OF the
Annapolis Water Company, have recently
purchased the States interest Zoo shares
of said capital stock, king total OF S0Q
shares now owned by the city, leaving ~
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 IL to furnish
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 divt-
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 unner the present
changed ownership of the capital stock
differences of opinion between the city au-
th"rities representing and being chieny
interested in the water users, and the prl-
waite stockholders who naturally view their
investment in the stock from the standpoint
ofCiividend earning and profit to themselves.
And as IL is distrable that there should be no
conflicting interests in the management OF
the Water Company, and as it is also desira-
bic 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 au-
thorized 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
ckholders; provided the price paid tn ere.
| for be not more than $4,000 per share, that
| being the highest market price heretofore
paid therefor. or total of $27,SS5 90, and that
| the said Finance Commission be and they
are hereby authorized and directed to Dor.
row. not exceeding 81 $50 90. ut rate not
exceeding per cent. Interest, to be used &c
pay for said stock, and be and they are
/ hereby authorized and directed to pledge
| said stock ms collateral security for the said
1 loan.
| RESOLVED. That the offer above authors
| ICED TO be made be in force for IS days from
/ the 24th day of January 1912 and no longer
and that notice be given by advertisement
| 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 stockholder. submitting
| the aforementioned offer.
BY order of the Board.
PHIL. T.. PORTER,
| t-9tf City Clerk.