Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-23
NOTfCE.
For the Purchase OF the Interests Of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.

Al.s =
The following Preambles and Resolutions
having been adopted by the Mayor. Coun-
seloF and Aldermen OF the City Of Annapo-
lis. Md. ~ a meeting held on January y.
1913, j. hereby published for the information
and guidance OF all who may De concerned IN
its provisions
WHEREAS. The Mayor, Counselor and Al
dermen Of the City Of Annapolis, already
owning so shares OF the capital stock OF the
Annapolis Water Company. have recently
purchased the States interest t600 sharesl
OF said capital stock. mn king "a total OF SO
shares now owned by the city, leaving 40
shares OF said stock held by private owners
AID WHEREAS. The principal object the
city had In acquiring the control OF said
Water Company was 10 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 divi-
bends on their investm ent resulting from
rate OF wat rents which some consumers
have considered higher than was necessary,
and as there may arise I'M er the present
changed ownership OF the capital stock
differences OF opinion between the city au-
thorltfrs reuresenting and being chieny
interested IN the water users; ana the pri-
yate ockholuers who naturally view their
Investment IN the stock from the standpoint
ofdividend earning and profit TO themselves.
And as IL is disiraile that there should BE- no
conflicting interests in the management of
the Water Com pany, and as 10 Is also desiTa-
BILE that the private stock holders should not
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 alta fair price.
RESOLVED. That the Finance Commission.
consisting of the Mayor the Counselor and
the Treasurer be- and they are hereby au-
thoFized 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
for be not more than $500 per share. that
being the highest market price heretofore
paid therefor. or "a total of S27,SS5 90. and that
the said Finance Commission be and they
are hereby authorized and directed to bor-
row. not exceeding 81. So 90. at a rate not
exceeding per cent. Interest, to be used to
pay for said stock, and be and they are
hereby aut norizrd and directed to pledge
said stock as collateral security for the said
loan.
RESOLVED. That the offer above authorI-
tied TO be made be In force for 70 days from
the 24th day of January, 1912 and no longer.
and that notice toe given by advertisement
in the Evening Capital" OF ANNAPOLIS. and
b. such additional notice as the said Finance
Comm ssion may deem advisable and
RESOLVED FURTHER. That the City Clerk
at once communicate direct by registered
letter with each stockholder. submitting
the aforementioned offer.
BY order OF the Board.
PHIL f. PORTER,
j-23'tf City Clerk.