The Leon reporter. (Leon, Iowa) 1887-1930, 1916-05-04
BOUGHT MT. AYR PLANT
David 6. Fisher & Co., Who Recent
ly Purchased the Leon Electric
Co., Buy Mt. Ayr Plant.

DaVlQ u. f1Sner q CO., VI DdSoA-
port, Iowa, who recently acquired the
electric light plant at Leon, last week
closed negotiations by which they
will take over the Mt. Ayr Light &
Power Co. The following account
of the sale is taken from the Mt. Ayr
Record-News:
The directors of the Mt. Ayr Light
& Power Co. accepted an option on
Thursday morning from the David Z.
Fisher Co., of Davenport, Iowa, for
the sale of the local plant at an
agreed consideration of $4,000, the
purchasers to assume the bonded In
debtedness of the company for $4,000
and to assume paving taxes not yet
paid and other liabilities. The local
company reserves bills receivable and
funds already on hand. The option
is contingent on an extended fran
chise being granted to the new COM
pany, and special election will have
to be called for this purpose.
Mr.. Fisher has deposited $1,000
with the local company as an eyi-
dence of good faith on his part, and
If the franchise is voted contract
will then be drawn according to- the
terms of the option, and further ne
gotiations will be concluded.
A. R. Shrimplin and the other di-
rectors of the company who were in
strumental in organizing the local
plant and giving the people of Mt.
Ayr such excellent service for the last
eight years, are welkpleased with the
sale of the plant. They are now oper-
ating with 24-hour service at a loss
for the day service, as there are not
sufficient patrons to warrant such
service at the present time. 1t was
found necessary to install new oil
engine to make the day run in order
to economic on coal at a consider
able expense, and with borrowed
money This additional expense will
be saved to those who have been
carrying the burden of the light
plant for the last eight years.
The Fisher company now owns and
operates the Leon plant with trans
mission lines to Humeston, Garden
Grove, Decatur City and Van Vert.
1t is understood that the new COM
pany if given control of the local
plant will eXpend twenty to thirty
thousand dollars in the way of re-
building the plant and changing it
from the obsolete direct current sys-
TEN to the alternating current. When
this is done they will then be able
to extend their lines to Diagonal,
Tingley and the other towns Of the
county, thus making Mt. Ayrtsssessssss-
tributing center.
1t is not expected that any opposi-
tion will develop to voting a fran
chlse to the new company, who are
highly spoken of and commended by
the people of Leon, who are now re-
ceiving splendid service. Under the
conditions the sale of the plant SEEM
ed the only feasible solution of the
difficulties under which the directors
were laboring.
Mr.. Fisher, who negotiated for the
purchase of the plant, is president of
David G. Fisher & Company, and he
made many friends whi4e in the city
and there is every reason to think and
believe that ne will treat our people
fairly in all business relations.
1t is also pleasure to note that.R.
M. Lewis, the efficient manager of the
company will be retained by the Dav-
export company, should the sale of
the plant be concluded under the
terms of the option. All of the stock
holders of the local company SO far
approached have accepted of the op-
ton, so there seems to be no doubt
that the sale will be made if the fran
chise is voted.