Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-01-24
NOTICE
For the Purchase of the Interests of
Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK,
ANSAPoITs. Md. January p, u

The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen OF the City of Annapo-
lis. Nd. at a meeting held On January Y,
1919. Is hereby published for the informrtion
and guidance of all who may be concerned In
its provisions
WHEREAS, The Mayor, Counselor and Al
deFmen 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 sharesl
of said capital stock, making total OF so
shares now owned by the city, leaving 429
shares OF said stock held by private owners.
AND WHEREAS. The principal object the
city had I'm acquiring the control OF said
Water Company was to enable 10 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-
dends 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-
thurities representing and being chieuy
interested in the water users, and the pri-
vate stockholders who naturally view their
investment I'm the stock from the standpoint
ofdividend earning and profit to themselves.
And as 1t is desirable that there should be no
conflicting interests in the management OF
the Water Company, and as It is also destrn-
BILE that the private stock holders should not
be made to feel 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 at n 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
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 t27 $50 90. and that
the said Finance Commission be and they
are hereby authorized and directed to bor-
row. not exceeding S27.sS5 90, at a rate not
exceeding per cent.interest, to be used to
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 authori-
ICED 10 be made be in force for rs days from
the oath 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 as the said Finance
Commission may deem advisable and
RESOLVED FURTHER, That the City Clerk
Mt once communicate direct by registered
letter with each stockholder submitting
the aforementioned offer.
BY order OF the Board.
PHIL. L. PORTER,
t-23'tf City Clerk.