Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1888-02-19
THE GAS COMPANIES
A Probability That the Combine Will Not
Take Place.
GREAT OPPOSITION TO The PLAN,
Arising From a Fear That the Price Of Gas
Would be Largely Increased.
MUCH INTEREST In The MATTER.

To state that the contemplated cohsol-
dation OF the two natural gas companies
which furnish fuel to the private consum-
ers and manufacturers of this city and vi
entity is exciting great public interest, is to
put the case very mildly. As the time
for the meeting of the stockholders Of the
West Virginia Company approaches, the
matter scomes more and more the
subject Of conversation, and there
is no attempt to conceal The anxiety
of these interested either directly or
indirectly, the two classes embracing al
most the entire population Of Wheeling
and her surrounding towns. The West
Virginia stockholders meeting takes
place on Thursday afternoon N xt, at the
office CT the Company in this city. and the
chief topics of business to be brought up,
according TO the published call for the
meeting, are two resolutions, in words and
figures following:
1st. Resolred, That the par value of each
share of capital stock OF said Company be
aud hereby is reduced from n hundre
dollars to fifty dollars.
ID. Resolred, That the number Of shares
of the capital stock Of said Company be
and hereby is increased from 10, 900 shares
of 500 each to 40, 900 shares OF $50 each.
According to the general understanding
of the public, the adoption Of these two
resolutions would practically bring about
the consolidation in contemplation, and
would increase the capital stock OF the joint
concern to 81, 900, 900 in round numbers;
and this an accomplished fact, no one
knows to what extreme the patrons Of the
combined corporations may not be pushed,
nor to what heights the price Of gas may
not soar. The circular just issued TO the
Bellaire patrons Of one OF the gas companies
in which they are fatty informed that the
price OF gas will be advanced 100 per cent,
has not had a ~reassuriDg effect, and there
ars not lacking predictions that the Wheel
ing public may, IN the near inture, De
treated to q dose of the some medicine.
Asis well known, the Wheeling stock
holders OF the West Virginia Gas company
have been very much opposed to the con
solidation, and ever since the thing was
sprung upon them, they have been
working hard to avert what they felt
would not only work TO the detriment OF
the city, but would inevitably result in
persoual loss 10 themselves. And so per-
sistent have they been, and 80 ably have
thew labored, that there seems to be some
ground for the prediction that the plans OF
consolidation have been set aside, for the
present, at least, and that, while the meet
inc called for the 23d inst will take
place, the stockholders OF the West Viz
ginis Company will either formally de-
Cline to adopt the pending resolutions,
ouoted above, or will informally lay the
entire matter aside.
In the course OF a recent conversation, q
interested in the West Virginia
Company said:
''TheWheeling Company was to have been
the beneficiary under the CONSOLIDATION.
Their stock would have been evened up, at
the expense of the West Virginia stock
holders, as they were only putting in sbout
$3.50, 900, less their debt, against u $Soo,-
600. This meant q very material less 10
and we bave been trying to keep the
thing from going through. The great thing
nrOed in favor Of the consolidation by The
Wheeling Gas Company has been that 1t
would be q great saving in the matter OF
management and operating expenses, they
holding up to Us that their present outlay
of So, 900 per month for this sort
of thing would be entirely saved.
This is probably true, but 1t
would all be at our expense, indirectly.
Bot / think You a risk saying that the
contemplated deal is of. What indicates
this, more than anything else, is the fact
that Wheeling stock, which, when the con-
,olidation talk was strongest, was selling
up to % on the Pittsburg market, has, OF
late days, dropped off to about %, while
West Virginia stock, which was then SELL
ing rather freely at SO and So, is now very
held, offers of SO bringing no stock
10 the surface for sale. This state OF az
fairs, if maintained, means dollars and
cents saved to the Wheeling stockholders Of
the West Virginia Company, while those
Pittsburg capitalists who bought up
wheeling Gas Company stock in the
expectation Of making a big per
when the consolidation took place will
be out q corresponding sum. OF course,
4 there is no consolidation, there will prob
IDLY be no change in the price Of gas
certainly not to private consumers. Some
manufacturers, however, may be raised a
title. / think, from what l can hear"
aid the gentleman. as he concluded the
conversation, THAT the meeting Of West
Virginia stockholders to be held Thursday,
will be a very interesting and lively