Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-01
NOTICE..
For the Purchase of the Interests Of
Private Stockholders in the
Annapolis Water Company.
;'-UFFIcE OF THE CITY CLERK.
ANNAPOLIS, ND. January 81 10


The following Preambles and Resolutions
having been adopted 10y the Mayor Coun-
selor and Aldermen of the City OF Annapn-
IFS. Md at "A meeting held IN January ".
1912 l. hereby published for the Information
and guidance OF all who may be concerned IN
its provisions
WHEREAS The Mayor, Counselor and Al
dermpn OF the City of Annapolis, already
own ng 2Ol shares Of the capital stock OF the
Annapolis Water Company, have recently
purchased the states interest Zoo shares
~ said copital stock making a total of 500
shares now owned by the city, leaving i29
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 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 diNt-
dends on their investment resulting from
rate OF wat r rents which some consumers
have considered higher than was necessary
and as there may arise un er the present
changed ownership OF the capital stock
differences OF opinion between the city nu-
thuFities repre- entinR and being chieny
interested In the water users and the pri.
waite stockholders who naturally view their
investment I'm tn" stock from the standpoint
ofdiVidpnd earning and profit TO themselves.
And rs 10 As desirable that there should be no
conflicting interests IN the management OF
the Water Company, and as IL Is also desira-
ble that the private stock holders should not
TIE mNUe 10 feel InlN DN EtuuNNibn VI NubtA
rents or from any other cause their invest
ment might become less profitable.
AND WHEREAS. Tho 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 he and they are hereby au-
thor1zed and directed to Immediately enter
into and consummate negotiations with the
holders OF snid private stock with the view
TO purchasing the stock OF said private
stock holders: provided the price paid there
for be not more than $500 per share, that
being the highest market price heretofore
paid therefor. or a total Of S2TSs5 90, and that
| the said Finance Commission be and they
are hereby authorized and directed to bor'
row. not exceeding S2I sS5 90. at a rate not
! exceeding per cent. f. terest, to be used to
hereby authorized and directed TO pledge
| said stock as collateral security for the said
/ loan.
| RESOLVED. That the offer above authori
| tied TO be made be I'm force for 10 days from
| the path day of January. 1912 and no longer
and that notice Ae given by advertisement
| In the Evening Capital" of Annapolis. and
by 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 stock holder, submitting
the aforementioned oflcr.
BY order of tho Board
PHIL. r. PORTER,
j-2Btf City CLERK.