A written agreement had been signed between the Council’s Committee and a deputation of the shareholders of the Vancouver Electric Railway + Light Co. Ltd. for the City to purchase the assets of company. However, Aldermen Collins and Hackett’s motion to raise $370,000 for the purchase was overturned.
This transcript was made in 2019 by Transcribimus volunteer Anonymous
original handwritten minutes here
City of Vancouver Archives
COV S 31 Volume 5 pages 478 – 479
[volume 5 page 478]
Vancouver July 7th, 1893
The Council met on Friday July 7th 1893 at 8 p.m. Present the Mayor and Aldermen Anderson, Salsbury, Collins, Hackett, McCraney, Cargill, Hobson, Franklin, Brown, and Towler; also the City Solicitor and Mssrs C. D. Rand and I. Oppenheimer.
From D. Oppenheimer, Present of the Vancouver Tramway Co offering to lease the Vancouver Street Railway for a term of years should the Council decide to accept the proposition of the shareholders.
From the City Solicitor submitting outline of the Agreement as arrived at between the Committee of the Council and the Shareholders Committee of the Street Railway.
Moved by Alderman Collins
Seconded by “ Hackett
That a By-Law be submitted to be voted on to raise the sum of $370,000 for the purpose of purchasing the Street Railway, road, plant, privileges, franchise and all assets of the Vancouver Electric Railway + Light Co. Ltd. including work now under contract providing the Trustees attain the sanction of the Court in 14 days.
Alderman Towler left the meeting before the motion was put.
Moved by Alderman Salsbury
Seconded by “ Franklin
That inasmuch as the understanding with the Railway + Marine Gazette for a write up of the City at the time of the Dominion Day Celebration has not been carried out, the appropriation of
[volume 5 page 479]
$150.00 for that purpose be and is hereby rescinded.
Notice of Motion
Alderman Anderson gave notice that at the next meeting of Council on Monday the 10th inst he would introduce a By-Law providing for the acquiring of a controlling interest in the Vancouver Electric Railway + Light Company Ltd. in accordance with the terms agreed upon between the representatives of the Company and the Committee of the Council.
The Council then adjourned.
Thos. F. McGuigan