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<br />At a special, meetl~ of the City Council February ~th there were present:
<br />
<br /> Mess~s--T. A. Bunting,
<br /> N. P~' Claud, E. H. ~rlght
<br /> J. T. Hanvey, C.,H. Herbert, W. N. Culpe.~per~' 8.
<br />The fellewin~ directions were read for the special meeting:
<br />
<br />~Portsmouth, Va., February 4, 1915.
<br />
<br /> "Mr. L. C. B~insen,
<br />
<br /> ~City Clerk & Auditor, City.
<br />
<br /> "Dea~ Sir:--
<br />
<br /> "You will please call a special meeting of the City Council £or Monday, Feb-
<br />
<br />r~:~ary~th, at 7:Z0 o'clock P. N., to consider the following matters:
<br /> "First. The report from the Special Water Commdttee.
<br />
<br /> ~Second. A report from the Finance Department on the requested appropriation o£ $1,§00.
<br />
<br />for the Health Department.
<br /> ~'Very tr*~ly,
<br />
<br /> "J. T. Hanvey, P~esident,"
<br />
<br />the report of the Special Water Co~mmittee as submitted to
<br />
<br /> following
<br />
<br /> the body Febru~ey let (see records ~ages ~8-40) was discussed and adopted by the
<br /> vote:
<br /> Ayes7-Bunting, Claud, Wright, Hanvey, Herbert, Culpepper,
<br />
<br /> Next, the follow~ letter was ~ead from the ~esident of the Po~t~outh, Berkley ~d
<br /> S~folk Water Comp~ with reg~d to ~s Comply n~ a price Fo~ its property:
<br />
<br /> "80 ~oad~St., New York, Feb~ 2, 1~18.
<br /> "~e ~n~able,
<br /> "~e Cmty Co~ci!~
<br /> ~Portsm~th, Virg~a.
<br />
<br /> ~Gen~temen:
<br /> Rep~ing to yo~ esteemed favor oF the 19th ultimo, si~ed ~ His H~o~,
<br />M~or J. T. ~vey, t~ City N~r, M~. W. B. ~tes, ~d City Attorney, Captai~ Jo~ W. ~p-
<br />p~ re~t~ t~ comp~ to set a ~Ice on its ~opert~- which letter was received at
<br />~e~~.~ ~Chica~- I_~eg to state ~t s~ee ~ ~n we have given yo-~
<br /> "The p~c~se of a property of this eztent is a ve~ l~ge ~dert~ing ~volv~ several
<br />millions o2 dol!~s, ~d ~ price t~t mi~t be set without ~ appraisal as DPovlded ~ the
<br />contract wo~d ~doubted~ be ~satisfacto~ ei~ to the stoc~ol~e~s of t~s co~ or
<br />the City of Portsmouth ~d would delay the ~cquisition of ~e property by the City.
<br />
<br /> ~ M~eh 1t, 1916, yo~ Honorable ~dy served notice on this comps, ezercis~g its op-
<br />tion to D~o~e the ~ope~ty of the co~y, as provided in t~ contract. ~e service of t~s
<br />~tice ~ms ~caepte~by ~ ~t the t~e, ~d ~s comp~ studs rea~ to appo~t a dis~te~ested
<br />arDitra~r ~pon~r. ecaipt of advice t~ the City of Po~t~ou~s appo~ted its dis~te~ested
<br />~bitra~er.
<br />
<br /> "The officers of this company respectfully advise that they a~e disposed to render all
<br />reasonable assist~uce, so that the transaction may be consummated within the oeriod contemplated
<br />by the contract. -
<br /> "~ours ver~y truly,
<br />
<br /> ~PORTSMOUTH, BEF~KI~-~r-& SUPFOLKNATER CO., By G. E. Hoff~ster, P~esident."
<br />
<br /> In connection with the water question, the following resolutions were presented by Mr. He,-
<br />bert:
<br /> ~W~EREAS, it is the desire of the City of Portsmouth to become the owner of the water
<br />works and all the property connected therewith of the Portsmouth, Berktey, and Suffolk ~ater Com-
<br />pany, and to succeed to all the rights and franchises of the said Compare, at the expi~ationof
<br />its contract with the City, by paying to the said Company the value of said works, property, and
<br />franchises, taking into view in ascertain such Malue, as well its capacity to make earnings as
<br />other considerations; and
<br />
<br /> "WHEREAS, the City of Portsmouth, after careful investigation ~ud exsmination has ascer-
<br />tained the value o* such orooertv ~w~ ~ ~~ +~ ~
<br /> - . ~ - ~, ...... · ...... ~ ..... ~ ~ $1,413,840.00, including the two
<br />lakes ~o~ as ~P~!iips" ~d "~t Mills;~ ~d $1 313 540.0~
<br />"Phillips': ~d ?B~nt Mills;" ~d , , ex~ud~g the two lakes ~o~ as
<br />
<br /> "W~, the C~ of this city bemno' ~ advised that the above ascertained values ~epre-
<br />sent a ~t~e ~d f~ value fo~ ~oh property, works~ and fr~chises:
<br />
<br /> ~NO~, T~0~, ~ it resolved by the Co~c~ of the City of Ports~uth that ~ offe~ ~
<br />$1,~1~,~0.00 be ~de to the Portsmouth, Be~kley, ~d S~folk ¥~ater Co~a~ for the o~o~se of
<br />all 0f its ~ope~y, wor~, ~ al~_t~ property coquetted therewith, ~clud~E lake~ ~P~!li
<br /> g ~chlses. ~ should ~he ~s?d ~? ~
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