Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-25
NO TIC e.
For the Purchase OF the Interests Of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
ANNAPOLIS. Mn. January =. 70

The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen OF the City OF Annapo-
lis. Md, at meeting held on January y.
1879. Is hereby published for the informrtlon
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 a00 shares of the capital stock OF the
Annapolis Water Company. have recently
purchased the States interest tdOO shares ,
of said capital stock, making total OF 500
shares now owned by the city, leaving 42s
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 furnis h
lowest cost consistent with economical and
efficient management OF the affairs OF the
company
Ann WHEREAS The private owners of
said stock have been receiving liberal divi-
bends on their Investment, resulting from a
! rate OF wat rents which some consumers
have considered higher than was necessary,
and as there may arise under the present
/ changed ownership OF the capital STOCK
| differences of opinion between the city au-
] thuritips representing and being chieny
| interested in the water users, and the pri
waite stockholders who naturally view their
! investment in the stock from the standpoint
| OF dividend earning and profit TO tn emselves.
And as IL is desirable that there should DE no
/ confitcting interests in the management of
| the Water Company, and as IL is also desira-
/ Bile that the private stock holders should not
be made to ieel that by reduction of water
4
ment might become less profitable,
AND WHEREAS. The Mayor, Counsellor
| and Aldermen desire to afford the private
| stockholders opportunity to dispose OF their
| stock at 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
1 stock holders; provided the price paid there
/ for be not more than $500 per share, that
being the highest market price heretofore
| paid therefor. total of S27,SS5 90. and that
| the said Finance Commission be and they
! are hereby authorized and directed to Dor.
| row. not exceeding $27 SS5 90. at n 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 as collateral security for the SAID
| loan.
| RESOLVED, That the offer above authors
| lied TO be made be in force for rs days from
| the Gath day of January, 1912 and no longer
! and that notice be given by advertisement
| in the Evening Capital" OF Annapolis, and
by such additional notice ms the said Finance
/ Commission may deem advisable and
| RESOLVED FURTHER, That the City CLERK
| at once communicate direct by registered
4 letter with each stockholder. submitting
1 the aforementioned offer.
BY order of the Board.
PHIL. +. PORTER,
! j-S'tf City Clerk.