Evening journal., 1912-05-13
HOLD BACK
REQUEST FOR
FRANCHISE
Utilities Company, Announces
City May Buy Company
After Twenty Years
APPRAISERS TO FIX
VALUE OF THE PLANT

Marvel, Marvel and Wolcott today
said they will not put I'm an applica-
ton to the Directors of the Street and
Sewer Department tomorrow on be-
half of r Clarence Jones & Co., OF
New York for a franchise for the Pub
lie Utilities Light, Heat and Power
Company. I'm the franchise, when II
does go I'm. will be a clause giving the
city the right to purchase the plant
after 20 years, as follows:
AT the expiration Of twenty years
from the date of the APPROVAL OF this
resolution the Mayor and Council OF
Wilmington shall have the right to
buy, and the Public Utilities Light
Heat & Power Company shall he
bound to sell to the Mayor and Coun-
ell Of Wilmington the entire plant,
including the power house, wires.
poles, conduits, meters aud installa-
tions Of every kind owned by the said
Public Utilities Light Heat & Power
Company. and used by II in gener-
ating and distributing electric light,
heat and power In the City Of VIII
mington, upon the following terms:
SHOULD the Mayor and Council OF
Wilmington decide 10 purchase said
entire plant, including the power
house. wires poles. conduits. meters.
installation and property Of every
kipd owned by the said Public Utn-
ties Light Heat & Power Company,
and used by Il IN generating and dis
tributing electric light, heat and pow
er IN the City Of Wilmington. as afore-
said. Il shall notify the Public Utili-
ties Light Heat & Power Company of
intention so 10 do by written notice
delivered 10 said Public Utilities Light
Heat g. Power Company six months
, prior 10 the time Of said proposed pur-
! chase and thereupon the said Mayor
4 and Council OF Wilmington shall ap-
plpeint ono person 10 serve as an ap-
b praiser. and the Public Utilities Light
5 Heat g. Power Company shall appoint
! one person 10 serve as an appraiser
: which two persons shall appoint ons
person who shall acr as umpire.
! which three persons shall Jointly Ale
an acceptance Of their appointment
In writing with the Mayor and Coun-
oil OF Wilmington. and the Public
Utilities Light Heat E. Power Com
pany and thereupOn shall proceed to
appraise the then value of said en-
I tire plant including the power house
\ wires, poles conduits, meters, Install
IL alton and property of every kind own
- ~. a., -.fd n,,t,it, Trtf1ftfor I irh
4 Heat & Power Company and used
4 by II in generating and distributine
! electric light heat and power IN N.
+ city Of Wilmington. and file a report
I in writing signed hv each Of said ap.
praisers with the Msvor and Council
Of Wilmington and the Public Ttili.
ties Light Heat E Power Company
on or before the date fved for said
= nurchase hv the notice of said pro-
posed nurchase pivan hv said Mayor
and Council Of -Tuv1ington as afors-
said
Upon the filing Of the report OF
said appraisers and upon the expira-
ton of the six months notice Of said
D proposed purchase. as aforesaid, and
upon the tender at said time by the
Mayor and Council Of Wilmington 10
S the Public Utilities Light Heat and
= Power Company Of the sum Of money
= fixed by the said appraisers in said
y report. which in no event shall be less
: than cost with interest at the rate or
six per centum per annum from the
date of the investment thereof as the
!, valuation of said entire plant includ-
= ing the power house. wires. poles, COLI
+, duits. meters. installation and prop
= erty of every kind owned by the said
= Public Utilities Light. Heat and
! Power Company. and used by Il in
! generating and distributing electric
I light. heat and power in the city OF
= Wilmington the Public Utilities Light,
, Heat and Power Company shall sell
. and by good and sufficient instru-
4 ments I'm writing convey unto tns
. Mayor and Council said entire plant.
r including the power house, wires.
r poIes. conduits meters. installation
E and property Of every kind owned y
r the said Public Utilities Light, Heat
5 and Power Company. and used by II
/. in generating and distributing electric
!, light. heat and power in the City OF
Q Wilmington"