OUR ELECTRIC LIGHT.

Stratford Evening Post, Volume XXVII, Issue 91, 18 August 1915, Page 4

OUR ELECTRIC LIGHT.

AN AGREEMENT REACHED. AWAITING RATEPAYERS’ DECISION. The conference arranged for evening between the Borough Council and the Electrical Supply Company was a step forward in the negotiations which have extended over several years. A definite arrangement was arrived at. which is' something to Utf pleased with from the point of view of the burgesses of the town. AA bather a poll of the ratepayers will result in favor ot the majority ot tho Council’s decision is a matter lor tho future, hut the fact remains Unit mu’ civic fathers have done their best lor the town as far as it was in theii power to do. There were present at the meeting; His'AVorship the Mayor (Mr J. AV. Boon), Crs Davey. Hancock, Hunter. Dawson, Alills, - Stanley. Young, and Thompson: for the Company: Messrs B. Masters ‘chairman). N. J- King. A. AV. Budge. A. AV. Reid. S'. H. James, (1, AA ilson, S. Al. Porritt. At the outset, the Mayor briefly outlined the position of the CouncilHe said the Council thought it was only proper that an agreement should he drawn up by a solicitor; that the basis should not he on abnormal paces created by the war; and that the cost should he borne by the parties, irrespective of whether the poll was carried—and subject, of course, to th«~ Council being able to raise a loan, lor which they were limited to o) percent. Briefly, the decision to he arrived at would he (1). Subject to the sanction of the ratepayers. ,2). Subject to being able to raise a loan. * Fl). Valuation not to he based oil abnormal prices created by Hie war. I). Plant to he valued first by engineers, then the goodwill, which would commence with the time the Borough took over the plant and end with the concession. ’.■)). Each party to pay tor their owit , cost of valuation. The Council was not unanimous on the matter, said the Mayor, yet the offer was a very, good jonj\ seeing the concession was just about.out, but others thought the concession should he allowed to run nut. In reply! itoi (Mr - Masters; ( , of the Company) as to the, basis of valuation, the Alayoi isaici.it wnalflib®; ; anything ui> to six months before the war. Ttie Council: would pot; think. of ?y ■ paying prices inflated by;tho war. Mr Masters said that supposing there had been a depression, would the Council take the material at a higher price/? The Mayor sajid lie did not think so; there would lie no hope of a deal. Air Masters said they did not want to make a rise out o) the War, they only wanted a lair thing. There wak a long discussion on this , question of valuation, and it was eventually resolved on the motion of Crs .* . Lawson and Thompson that the question of the basis of valuation he deferred. ;i '' '- J ; -

Discussion ensued on the position which would arike if'the ratepayers turned down the proposal to take over the Company’s works and the possibility of raising a loan. On the motion ,of ’ the Mayor, seconded bv Cr Ihompson. it aas te,solved to refer the question of finance back to the Council,

As to the payment of valuers, it was decided that if the ratepayers take the undertaking over, both sides pay their own costs, in the event of tho Ratepayers turning the proposal down, the Council to pay all costs of valuation.

The Company conferred over tho question of valuation ol plant, and on resuming, Mr Masters stated that the Company was prepared to accept the valuation of machinery and copper based on prices averaging over a period of five years, balance ol plant at ordinarV valuation.

The Council t hen-conferred for a few minutes, and Cr Hancock moved, alfcd Cr Davey seconded, “That the offer of the Company be accepted.”—Carried.

The decision was then conveyed to the directors, and a feeling of relief was experienced by all concerned; which was brieHv expressed by Mr Masters before the meeting closed.

Cr. Young has given notice to move at the next ordinary meeting of the Borough Council that the resolution passed at the last ordinary mooting oi the said Council to the effect that the Council acquire the plant, ingand goodwill of the Stratford Klectrieal Supply Company by valuation or arbitration bo rescinded."