Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-10
NOTICE..
For the Purchase OF the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK.
ANNAPOIrS. MD. January - IL

The following Preambles and Resolutions
having been adopted by the Mayor Coun-
seIor and Aldermen of the city Of Annapo-
lis Nd. at "a meeting held ON January %,
1912 Is hereby published for the informrtion
and guidance OF all who may be concerned in
its provisions
WHEREAS The Mayor. Counselor and Al
dprmen Of the city Of Annapolis, already
owning 200 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 SEQ
shares now owned by the city, leaving i2g
shares OF said stock held 10y private owners
AND WHEREAS. The principal object the
city had in acquiring the control Oi sald
Water Company was 10 enable IL 70 iurhlsh
consumers the purest water possible at the
lowest costs consistent with economical and
efficient management of the affairs or the
company
ANp WHEREAS The private owners of
said stock have been receiving liberal divi-
dcnds on their Investment resulting from
rate of wat r rents which some consumers
have considered higher than was necessary,
aud as there may arise unuer the present
changed ownership OF the capital stock
differences OF opinion between the city au-
thuritfes representing ana being chiefly
interested in the water users, and the pri-
waite stockholders who naturally view their
investmenttu the stock from the standpoint
ofdiV idend earning and profit to themselves
And as IL is desirable that there should Toe no
conflicting interests in the management Of
the Water Company, and as IL Is also deSira-
BILE that the private stockholders should not
be made to feel that 10y reduction of water
ment might become less profitable.
AND WHEREAS, The Mayor. Counsellor
ana Aldermen desire 70 afford the private
stockholders opportunity to dispose of their
stock at "a fair price.
RESOLVED. That the Finance Commission,
consisting OF the Mayor, the Counselor ana
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
10 purchasing the stock OF said private
stockholders: 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 81 $50 90. and that
the said Finance Commission be and they
arr hereby authorized and directed to bor-
row, not exceeding so SSS 90. at rate not
exceeding per cent. interest. to be used go
pay for said stock, and be and they arc
said stock as collateral security for the said
loan.
RESOLVED That the offer above authori-
ized 10 be made be in force for 10 days from
the 2fth day of January, 1912 ana no longer
and that notice be given by advertisement
ia the Evening Capital" of Annapolis. ana
b. 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. f. PORTER,
j-2Bu City Clerk.