Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1912-02-07
NO TIC E.
For the Purchase of the Interests of
" Private Stockholders in the
Annapolis Water Company.
OFFICE OF THE CITY CLERK,
ANNAPOLIS, Md, January %, 10

The following Preambles and Resolutions
having been adopted by the Mayor, Coun-
selor and Aldermen of the City of Annapo-
lis. Md, at "a meeting held On January p.
1912. is hereby published for the informrtion
and guidance of all who may be concerned in
its provisions:
WHEREAS. The Mayor, Counselor and AL
dermen of the City OF Annapolis, already
own ng 200 shares of the capital stock of the
purchased the states interest GOO shares
Of said capital stock, ma king total of 800
shares now owned by the city, leaving 429
shares OF said STOCK neld by private owners
AND WHEREAS. The principal object the
city bad 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
Ann 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
and there may arise un er the present
changed ownership OF the capital stock
differences OF opinion between the city Hu-
thurtties representing ana being chieny
interested in the water users, and the pri-
vHte stockholders who naturally view their
investmentin the stock from the standpoint
ofdividend earning and profit to themselves,
And as 10 is disirable that there should be no
conflicting interests in the management OF
the Water Company, and as it IS also desira-
bic that the private stock holders should not
be made TO feel that by reduction of water
ment might become less profitable.
AM 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 ana
the Treasurer be and they are hereby au-
thorlzed 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 hoiders; provided the price paid there
for be not more than S6500 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
are hereby authorized and directed To bor-
row. not exceeding S21SS5 90. at rate not
exceeding s per cent. 4 terest, to be used to
pay for said stock. and toe and they are
hereby authorized and directed to pledge
said stock as collateral security for the said
loan.
RESOLVED. That the offer above authori-
tied 10 be made be in force for rs days from
the 9th day of January, 1912 and no longer.
and that notice be given by adversise ment
in the evening Capital of Annapolis, and
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 stockholder, submitting
the aforementioned offer.
BY order of the Board,
PHIL. f. PORTER,
j-23tf city CLERK.