Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1912-01-11
INTERVIEW WITH MAYOR MATHIS

INTERVIEW With MAIUh mAInI0
Yesterday Mayor Mathis named Al
rmen Lee G. Council and Lee Allel
the members of Council to accom-
nv him to Atlanta to protest agains
santing power to the Americus Gas
IN Electric Company to issue bonds
the extent of $4,000, the company
ii wing advertised its intention to ap
an TO the Georgia Railroad Commits
bn for permission to issue securities
that extent.
The hearing of the petition of the
u 6mpany will take place on mex
N Wednesday, January II. 1t is prob
Sk lie that both the aldermen appointed
nj ll accompany the mayor and pre-
Sc nt arguments in favor of the city's
Ii esiton.
Great interest is felt in the matter
AealIy and the arguments and the
Y6kult of the hearing will be awaited
With much interest.
Yesterday the Times-Recorder ask
al Mayor Mathis for his views as to
III question now at issue.
Why should the city, as a munich
pal corporation, assume this attitude
H&ard private corporations? was
Eas ked the Mayor.
Simply because the city construes
i to be it's duty to protect the inter
esls of the individual citizens of Am
eIi icus, and of the greater investing
8uDIic outside of the CITY," was the
4aply
We have no objections" he con-
fnued, and could have no objections,
t9 the lighting company, or any other
s@npahy, issuing securities to the val
Ns Of its investment. That is a right
atshOuld enjoy and exercise But we
"a object to a corporation that deals
Nllh the public as a lighting COM
Nny does, enjoying, in a measure the
Aaure Of a monopoly, issuing bonds
QN other securities far beyond the in
1nnslc value of it's plants and making
sNch an Oyerissue a burden upon the
pensuming public, forcing the public
~ pay higher rates for the service
tRfn would otherwise be the case.
We do not now regard the
equipment of the American Gas and
EaectriC Company as approaching
sAythlng near the value of the bonds
US sought to issue. While not in a
PeSluon to state the exact value Of
Aaf TWO plants, We do not believe that
kAey much exceed 100000. Such be-
sW the case, We feel that if bonds
A0 the extent of $4,000 are issued
re can be but one result. Either
III consuming public of Americus,
Mlch includes the municipality and
aAe cltlzens as individuals, must be
ulcled in the shape of excessive
yes Tor gas and electricity to pay
III interest on such an over-issue of
9snds, or the purchasers of such
~ naS must suffer through the depre-
|S'f uon IN value of the securities sold
to them.
NOW there can clearly be no
uot as to the right of the munich
r I'Iy 10 protect itself and its individ-
VI'izens against the excessive
q "fses for gas and electricity
ousut about in this way. Beyond
] am inclined to believe that W.
u 70 III a sense, our brothers keeper
7''' ls' We are in duty bound to pro-
investors elsewhere against an
issue of securities on a public
NY business. Our protest is for
purpose of doing both of these
'"SS' what We insist on is that th<
ana Electric Company make &
wing before the commission as [:
actual Investment here and what
''0EoseS to do with the money tc
'"''|ed from the sale of the $34O.
'' 0ohds it proposes to issue.
'"" show that the issue is legiti
'Iat Its actual investments her,
improvements to be. made. alb
me bonds, no doubt it can secur,
~ MISSION. But We intend to see tha
interests of our people are pro
and incidentally the interest
v public elsewhere. Personall
,Y'e lne time has come when al
''s.a cities will take this stand 7
0o Georgia investments vii
'u higher in the public es
!" 'nan ever before