The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1917-10-29
MM|LLEN REVIEWS
HIS OFFER To SELL
OUT FOR S4OO.O0O
Head of Water Company Offers
TO Donate TO City so Much of
Valuation as Exceeds Bond and
Contract Limit.


nate 20 the city ~ much Of the vaiu-
alton as Is in excess % tioo, ooc. A.
u McMnlen. wner Of the water
plant. to-day renewed his original offer
to the elty To sell Tor xfV0. 600. That
put the negotiations for the property
back To whore they We're before the
appraisal by the three engineers.
which resulted ia a valuation OF sass
asl. and reduced the contract between
company and city 20 a scrap of paper.
Mr.. McMiiicn's offer calls Tor action
without aelay. Il is for immediate
acceptance. aays ms communication.
The offer OF the water company reads
as follows
TO the Honorable Mayor and city
Council OF the cts % Albuquerque.
y. M,-Gcntlemen: ON the lsth day
81 My. 1915. at the urgent request
OF your mayor to state a sum which
I was willing 20 accept for the Wa,er
supply company, ! wrore Mayor
westerfeid as follows;
In answer 20 yo,.r request and
the request OF the water committee
thai l should fix a price upon the
property OF the Water supply COM
pany, viii say that IL Is my judgment
that the best way To handle the mat
ter Is to have u valued by competent.
disintercStcd persons hut AT the same
time I am anxious to comply with
any reasonable request about h mat
ter and will say that ! would be will
ing to accept ssO0.G eco in cash or to
take 3 per cent bonds az par for all
the property vi the water Supply
company except it, private books and
papers ana it, and bills re-
ceivahie AZ the time ~ turning over
the property. with the understanding.
however, that the outstanding ac-
counts would he collected in the or
binary way throt h the office 81 the
water department n turned over to
me. and hat the ordinary mean o.
enforcing such collections should be at
my disposal until they were collected.
II the price quoted should not prove
satisfactory 10 you | am perfectly will
ing 60 take the reasonable appraised
value Of the property 81 the Water
supply company az a going concern,
such valuation 80 be made by disin-
terested experts upon such arrange
| ments as may be fair 20 both the Gao
| and the Water company. each party
TO abide by such valuation without
regard TO whether II is more or j.
than the above price of 100000
THE price fixed by me was mo-
satisfactory To the oity and various
negotiations were haa until the 2tsi
day Of May 1917. when a formal
contract was executed by the city and
the Water supply company. agree
| 0a. ssa..n ID aAa NFHa FHar 80 l4 mazda lax
disinterestcd experts one % be- chosen
by the city. one by the Water com
| pany and the third 10y the chicf jus
tee ~ the supreme N % the state.
Paragraph five Of that contract pro
vided as follows;
Each party hereto shall be bound
by the award OF "a majority OF the
arbitrntors fixing the value of the
! property 81 said water company. and
the city shall be bound to buy and
pay for and the water company bound
"a accept the sun, fixed by said arhi
| traitors as the value Of The property OF
saia Water company provided. how
ever. that said city shall not be bound
TO purchase said property If the val.
uatlon fixed by the arhitrators ok
/ feeuh the sum 81 Nf"NfNN".
The %arbiirators have now made a
unanimous report fixing the vtiue OF
the Water company property at the
sum %; tfB3.5si
AT various conferences with the
officials Of the city, ! stnted that
had NO doubt as 20 there being a. gen.
ulne demand IN the city for municipal
ownership 90 the water supply, AND
that I was willing to do anything with
in reason 10 assist in accomplishing
his object
The valuation liked 10y the arhi.
tratUis has now settled definitely fol
the city and the company the question
OF value ana in order 20 show m3
gooa faith and the desire 20 put mn
question beyond further controversy.
nov offer to donate 10 the city 81,
much 81 the valuation as b. In excess
OF sfOo. 900 towit, s53.asi, and 10 ac,
cept from the city the SUM Of $500,
900 Tor the property Of the water sup
piy company Described in the cout'ao
81 May a.. 1917 This offer for im
mediate acceptance
Yours very trull.