Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-16
NOTICE.
For the Purchase of the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY OLERK,


The following Preambles and Resolutions
having been adopted by the Mayor Coun-
selor and Aldermen of the City of Annapo-
lis. Md, at a meeting held on January %
1919, is hereby published for the informrtion
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 20o shares of the capital stock of the
Annapolis Water Company. have recently
purchased the states interest 1000 shares
of said capital stock making a total Of 500
shares now owned by the city, leaving 500
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
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
rate of wat rents which some consumers
have considered higher than was necessary
and as there may arise unaer the present
differences of opinion between the city au-
thprities 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
otdtVidend earning and profit to themselves.
And as Il Is desirable that there should be no
conflicting interests in the management of
the Water Com any, and rs IL tsalso destra-
ble that the private stock holders should not
rents or from any other cause their invest
ment might become less profitable.
AND WHEREAs, The Mayor, Couns eIlor
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
stool holders; provided the price paid there
Tor be not more than $500 per share, that
being the highest market price heretofore
paid therefor, or a total of s2T,SS5 90, and that
the said Finance Commission be and they
are hereby authorized ana directed to bor-
row. not exceeding S27,SS5 90. at a rate not
exceeding 8 per cent. Interest. to be used to
pay for said stock, and be and they are
herehv authorized and directed to pledge
said stock as collateral security for the said .
loan.
RESOLVED, That the offer above authori-
ized to be made be IN force for 10 days from
{ he Path day OF January, 1919 and no longer
and that notice be given by advertisement
bg such additional notice as the said Finance
Commission may deem advisable and
RESOLVED FURTHER. That the City Clerk
AT onCe communicates direct nv rertsterad
letter with each stock holder, submitting
the aforementioned offer.
By order OF the Board.
PHIL. z. PORTER,
i-SStf City Clerk.