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Stratford Evening Post, Volume XXVII, Issue 74, 27 July 1915, Page 5

neeting and carting would be heavy, in fact, the whole would have ta be sacrificed, and consequently all goodwill would he lost. Thus in making this offer, it is the least we can dc, and we believe it will he satisfa to-y to your company to receive '2os in the pound now. rather than run four years without interest, and then ron.e out with very little. We have :io idea of lightin«.', or hampering you while we arc in office, bill should be compelled to lake the necessary steps, if negotiations with your Company fail, to put in a new plant. We, as trustees of the people have a sacred duty to perform in seeing that the best is done for them, hut not at the expense of ih« Company, and so on behalf I make this ! offer. j Replying to His Worship the Mayor. .Mr Masters said what the Company .had advocated in past years had taken I place that night—that was. a meeting nf the whole of the Council with 'the directors of the Electric Supply I Company. Their experience in the past of meeting committees of the Council had proved very unsatisfactory, as almost invariably the recommendation of the committees hail been turned down hy the Council, and in meeting the full Council there was a greater probability of unanimity in the Council. Regarding the offer made by tho Mayor, he would, without hesitation, say that tKo Company could not accept the terms offered, inasmuch as he felt they were altogether unreasonable. The Council, in offering £1 for the goodwill, had affirmed the principle of a goodwill being attached to the Company's undertaking. He submitted that neither he nor His Worship were competent to assess the goodwill; therefore they could not (•onio to a fair conclusion.' and the -matter should be referred to oomIpetenl accountants, and if the gentlemien appointed made an award stating the goodwill was worth 20s the 'Company would be preoared to accent tint award, but they were not p-.-eiv--

led to accent it as n firm ofer f v '»n the Council. Referring to Mr Boon's 'criticism of the condition of the iron Ipoles, Mr Masters said he preferred to accent Mr Millar, of the Public Works Department, as an authnrifv in preference to His Worship, and that gentleman a few weeks ago had gone over the whole of the lines and passed the whole of the poles as satisfactory, with the exception of three. No one would say but that the Diesel engine was of the very best tyne that was procurable and was in the very best of condition. Regarding the Hydro plant. Mr Shepherd !>»'! Mr Black, the valuers of the Council and Company respectively, in the ln«t valuation made, had stated that the plant not being up-to-date. was. nevertheless, effective, and this opinion had been confirmed in the report submitted to the Council by Mr Climie a short time asro. Mr Masters severely criticised ,Mr Boon's ideas on financial owe«jtions. stating that His Worship's knowledge of matters in this connection was very crude indeed, and not what one would expect from a man in his position and one whom the Council mi'dit expect to take a lead from. Replying to Cr. Young's statement that an up-to-date voltage was required, Mr Masters admitted from a private company point of view a 220 voltage would be preferable, inasmuch as a saving would he made on the lines run. But from the point of view of a municipal concern, he contended that the interests of the ratepayers should be conserved. If a 220 voltage system was installed, the consumers ('who would be'largely ratepayers) would have to pay about Is each more for "their lamps and proportionately more for all their accessories, which would mean a very heavy interest on the amount saved in running the main lines, and this was a matter that should have the greatest consideration by the Council. fin conclusion, Mr Masters stated that he was pleased that the two bodies had met and he i hoped that something would be done | that would be in the best interests of the town.

The Mayor, continuing, -said: The plain position is this, that the Council will possibly not acquire their undertaking, if not settled before the concession is nearly up. and I say the profits would be entirely lost in having to clear the whole works off the streets. And in reply to Mr James, J say that expert valuers on goodwill would be accountants anil would not consider the rotten po!e«, they would make it up from the books entirely, and consequently I could not suppoi L taking over the goodwill by arbitration.

Much desultory discussion followed on the part of each side on the same lines as set forth by the Mayor on be-

half of the Council and by Mr Masters on behalf of the Company.

It is anticipated that the two bodies will meet again at a later date probably with a view to K et t' n K the whole matter submitted to arbitration.