The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-02-02

s70.7Sl.& 50. In January. 1914, collec-
tions at Richmond totaled s91 e36.se.
which shah be annexed thereto as
part thereof and that this shall con-
stitute the basis of ascertaining at
the expiration of the lease what ex-
tensions. improvements. betterments
and engagements have been made.
5. At the expiration of one % year
from the enhancement of ttfe lease,
we will make a net price for domes-
tic consumption OF eighty cents tS0c)
per 1000 cubic feet and at least with
In ten G0) years. of seventy-fve cents
75c) per 1000 cubic feet. which
price shall not for the balance Of the
term OF the lease, be exceeded.
6. In order to induce the location
of manufacturers within the city of
Richmond, and TO secure a rapid
growth and development OF the COM
munity, we will agree. within one "a
year to provide the following sliding
scale for large consumers Of gas, for
industrial purposes. to wit:
First 10000 cubic feet. net price,
eighty cents per thousand.
Next $4,000 cubic feet, net price.
seventy-nina cents per thousand.
Next oh,VuD Cubic IeFi net PRICE,
seventy-eight cents per thousand.
Next $4,000 cubic feet net price.
seventy-seven cents per thousand.
Next 10000 cubic feet net price,
seventy-six cents per thousand.
Next 10000 cubic feet, net price,
seventy-five cents per thousand.
Next 10000 cubic feet. net price.
seventy-four cents per thousand
Next $4,000 cubic feet, net price.
seventy-three cents per thousand.
Next $4,000 cubic feet, net price,
seventy-two cents per thousand.
Next $4,000 cubic feet, net price,
seventy-one cents per thousand
All in excess OF the above. seventy
cents per thousand.
Z. The rate to the city for all gas
consumed by it shall, from the ac-
ceptance OF the lease, be seventy-five
cents per thousand cubi, feet.
s. The lease shall provide that in
the event of any controversy
with reference to the appraisements,
or with reference to tho obligations
and rights of ourselves. as lessee,
all matters shall be determined by
arbitration. with such provision for
the selection of arbitrators. as will in
sure. as nearly as may he, absolute
Justice, both to the city and ourselves.
Proposition No. ..
We hereby offer to lease the NUM-
cipal Gas Plant of the City of Rich
mond for period of thirty t3ol
years on the following basis:
l. We Will guarantee 10 pay to
the City of Richmond the sum OF
100000 annually out OF the net earn
ngs realized from the operation OF
the Gas Works this amount to be
in lieu of all interest and all city
taxes on the said gas plant as now
constituted and hereafter extended or
enlarged including its distribution
system.
.. We will agree to spend as
promptly as reasonably possible. and
at all events within three years. such
sum or sums as may be necessary
to bring the plant and distribution
system TO a condition of the highest
standard of efficiency necessary for
PROVIDING the citizens of Richmond
with the best possible service. Our
estimates indicate that this will in
volve an expenditure of not less than
I.0G0 600 and in view OF the recent
annexations. possibly considerably
more. We will guarantee to spend
at least 100000 within the first three
years
3. After making the payment OF
100000 to the City of Richmond.
provided in paragraph l hereof. we
are to receive out Of the first OF the
net earnings of the Gas Works in
terest at fair rate per annum on
the monies expended by us for addi-
lions. betterments and improvements
to the gas plant and system of Rich
mond
a. After the $780, 600 to the City
of Richmond and the interest on the
monies invested BY as shall have been
i Of hn tFrSpr y ha
Gas Tor s. the remaining surplus
profits are to be divided equally be-
tween the City of Richmond and
ourselves.
S. At the expiration of the lease
we will turn over to the City of Rich
mond.. at fair valuation. the physi-
cal property included In additions, ex-
tensions engagements and better
ments which We may have made dur
ing the term of the lease, and In
order that no controversy may arise
in respect thereof we suggest that
the lease contain a provision for the
appraisal OF the municipal plant and
an inventory Of the property turned
over at the beginning of the lease.
which shall be annexed thereto as
part thereof and that this shall con-
stitnte the basis OF ascertaining at
the expiration of the lease what ex-
tensions, Improvements. DeNteTHents,
and engagements have been made.
g. We will agree to comply fully
with any standard of quality for
gas and service which may from
time to time be reasonably provided
by the Corporation Commission of
Virginia. but In the absence OF such
regulation we will be willing to ac-
cept the recent standard established
by the Public Service Commission of
New York State for the Second Dis
trict.
We are ready and willing 10 furnish
any additional information in expla-
nation of our offers, which may be
desired by you or by any committee
to which you may refer this matter.
and also to furnish you with salts
factory evidence as to our ability to
carry out the terms of our offers: and
in this connection we would suggest
that in order to safeguard the interest
of the CITY a bond of say 100000.
guaranteeing the performance of the
lease, should be required by you.
We believe that upon fun consider
alton you and the citizens of Rich
mond will realize that the offers made
are fair and that al ease under either
proposition. continuing municipal
ownership of Gas Works. but under
private operations will insure a SER