Show FORT WAYNE PEOPLE IN ST LOUIS forfeiting a big bond to escape an expensive contract in regard to the establishment of new electric works hero here the following from the tile st I 1 louis 0 o uis globe globed D democrat C in 0 crat of 1 december 0 ce in 10 1891 may be of interest to the ogden public there were sell sensational R al developments yesterday oster dav in the affairs of the thu municipal electric lighting and power company which has the tile contract for lighting the city of st louis for a term of ten tell yeara years only one fifth of the tile contract timo time has expired and tile company is preparing to cancel the contract and forfeit the tile bond it gave tho tile city to faithfully carry out its agreement the franchise for the tile erection of the extensive plant of the municipal com company P was granted by tile municipal assembly some sonic four years ago on oil condition that the company enter into a contract with the city to ll 11 light the public streets for a term of ten tell years at a specified rate of 01 per light per year the projectors per 0 of the scheme were mr charles butter sutter and mortimer F taylor and mr butter sutter was the first president of tho the I 1 0 ja i president of the fort wayno wayne electric company which corporation furnished tho tile machinery and lamps for the erection of the municipal companas comp anys plant with the superseding of mr campbell bv by mr 31 McDo cDonald comes the not altogether unexpected declaration of tho the municipal company that it is unable to carryout carr its contract with tho tile city and that it is but a matter of a few days when that fact will be submitted to the municipal assembly in official form the assembly will then be left to either cancel the jon contract tract or increase the amount paid 31 id for lighting under the present contract tract to an ail amount that will aggregate an increase over the price agreed to be paid and whick must be paid if tile assembly agrees to the advance asked of extending over a period of eight years from front the first day of next january january this pro gramme on the part 0 of the tile lighting I 1 company will seriously interfere with the plans of the financial officers olli cers of the city and will be unwelcome news in all quarters of the city from an interview with president mcdonald McDo we give the following 11 your contract with the city provides that tile city shall have the privilege of purchasing the tile plant at the expiration of the ten tell years at its fair market price price does it not 41 yes I 1 believe that ia is a fact we will bell it to the city now if it wants it the plant as it stands represents an outlay of about and wo we have a spent ent about more in adding to it aby by purchasing the plants of a number of smaller companies es I 1 think we would bo be in willing illing to take k the first cost of the pro property e arty for it now if the city would buy or IIII 1111 find a buyer for it we tried to sell it to the laclede gas company some time ago but were unsuccessful what hat will bo your first step toward tile throwing up of tile city contract 11 we will present resent the tile municipal assembly with t the io facts in the tile case and notify them that we are ready to forfeit our bond and give up the contract if the assembly see fit to amend the tile contract however giving us enough money so that wo we can call pay a fair dividend on oil bursto our stoa k then wo we will accept their terms art and a continue to light tho city what do you consider a fair t I 1 evl bendl well say 6 per cent out of that and the profits on tho tile commercial business the interest would have to bo be paid on the bonded indebtedness of the company and the plant would have to bo be k kept t in repair a I 1 it etile the fol following owing is quoted from the evening lanco lance of tills this city september 7 1892 articles of incorporation of the utah Elac electric company are be being in pre prepared ared it F McDo I cDonald jose joseph U smith ri and 0 S knight of fort foa wayno 11 II 0 gilbert and daniel alain iiames er of ogden will to be directors of the new corporation 11 lighting company there was a long delay in the completion of the plant and it was several weeks after the time specified c idled in the contract for tho the beginning of tile lighting by electricity before the com company p any was prepared to commence ope operations ratio ns one of alie provisions of the contract between the company and the tile city was that the company should forfeit per day for every day it failed to light the tile city after the time specified for tile commencement in the contract the tile total of tile forfeiture under the tile conditions stated amounted to about there were all sorts of excuses offered the assembly for the delay and at last when the tile hili lighting ting by electricity had begun a bill was introduced in the assembly to relieve the lighting company of the payment of tile forfeit forfeiture uri through the personal efforts of ar a certain boiler manufacturer who was a member of the council and also the contractor for the boilers used in the power house of the company that bill passed and tho the lighting company wag was benefited to the amount of the forfeiture then followed a change in the management of the municipal corn company a 1 mr I 1 r james campbell a large stockholder in the company and representing represent in others interests became its president and general manager mr campbell Oam was yesterday eerily succeeded by mr it S mcdon aid 0 of 3 fort wayne indiana who is th tho |