Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-12
NOTICE.
For the Purchase OF the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
AN A v,t,rra Mn TaDuavy % 10

=
The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
splor and Aldermen of the city OF AnnApO-
lis Nd, at metting hela on Janaary ~
and guidance OF all who may be concerned in
its provisions
WHEREAS. The Mayor. Counselor and Al
dermen of the city of Anna polls, already
owning 200 shares OF the capital stock Of the
Annapolis Water Company, have recently
purchased the states interest Goo shares J
OF said capital stuck making a total of 500
shares now owned by the city, leaving APO
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 ana
efficient management of the affairs of the
company
AND WHEREAS. The private owners of
said stock have been receiving liberal divi-
bends on their tuvestment, resulting from
rate OF wat rents which some copsumers
have considered higher than was necessary,
ana as there may arise un ef the present
changed ownership OF the capital stock
differences of opinion between the city au~
thrriti~s reure>euting and being chiefly
interested in the water users, and the pri-
waite stockholders who naturally view their
Investment the stock from he standpoint
ofdiVideud earning ana profit to themselves.
Ana as IL is disiruule that there should be- no
conflicting Interests in the management of
the Water COMPANY, and as IL is also desira-
bic that the private stockholders should not
DE nude TO eel 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 81 fair price
RESOLVED. That the Finance Commission,
consisting of the Mayor, the Counselor and
the Treasurer. bc aud they are hereby au-
thorlzed and directed TO immediately enter
into and coBsummate NEGOTIATIONS with the
holders OF said 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 So $50 90. and that
the said Finance Commission be and they
arr hereby authorized and directed to Dor
row. not exceeding S27.SS5 90. Mt e rate not
exceeding per cent. interest, 10 be used TO
pay for said stock, and be and they ARE
hereby utnoriXrd and directed to pledge
said stock as collateral security for the SAID
loan.
RESOLVED. That the offer above authorf-
ICED 90 be made be in force for 10 days from
the saith day OF January, 1912 and no longer
and that notice be given by advertisement
IA the "k,veninE ca pital, /" of Annapolis. and
To- such additional notice as the said Finance
Commission may deem advisable ; and
RESOLVED FURTHER. That the City Clerk
at once communicate direct by registered
letter with each stakeholder, submitting
the aforementioned offer.
By order of the Board,
PHIL. z. PORTER,
i-2}tf City Clerk.