Daily Republican., 1889-02-06

MIR. ADDICKs' GAS SCHEME.

The Bill for a Company to Control Four
teen Boston Gas Companies Plants to
be introduced TO the Legislature at
Dover To-Day.
Philadelphia Press.
People In Phladelp. Ia will be as much
interested as people Ia the State OF Della
ware to-day when notice Is given in the
Legislature at Dover of an act TO imcorpo-
rate the Peninsula Investment Company.
The actual head OF tbs proposed company
Is j. Edward Addicks, the well known
gas Spectator OF Philadelphia, who is
located in the DTexel Building, and who
achieved national prominence a few weeks
ago by announcing himself as a candidate
for United States Seuator to succeed the
Hon. Eli Saulsb bury.
The company is formed I r the purpose
of disposing OF the sl2, 10000 worth of
bonds recently flooded BY Mr.. Addcks in
London for the purchase OF all the gas
works In Boston, but which have not yet
been Issued. Between two and three
millions OF Philadelphia capital is said to
be involved In the deal, the remainder
belonging to New York and Boston. The
Philadelphians said to be interested aside
Fl, IN Mr.. Addicks and his Immediate as
sociates are $. K. shipley, W, W. Gibbs,
A NJ. Moore, A. .. Granger, George
Philler and Mr.. Gibson.
There were eyidfnees OF opposition TO
tie bill among Delawareaus who were in
town yesierdiy who had heard OF the
scheme. No one had heard OF the pro
posed bill, but all said sit must be a
scheme" a. the time of the contest for
the United States natorship Mr.. AID
dicks, who Ia quite wealthy and who has
aD office In Boston as we'll as In Philadel.
phia, ard who has country seat at
Claymont, Del, which he ella as
his residence, entered the fed. He
said If the Republican members
OF the Legislature could not agree
on any OF those prominently men
toned Tor tue place he would like to re-
I've the honor As peacemaker. He
we TO the Delaware state Capital
WITH humber OF friends and renamed
ultil the Senatorial fight ended ia the
o ection of Mr. Higgins. II was asserted
by Mr.. Addicks' Opponents at that time
that be was using bis Senatorial candi-
dacy As blind by which he could get ac-
quainted with the members O. the Della
ware Legislature aud that later on he
would Introduce Ras b II OF some Kind.
This WAS emphatieAlly denied.
When reporter OF the Prtss SAW Mr..
Addieks yesterday he denied that his can
didacy tor the Senate had had ANYTHING
to do with the bill which lie Intended to
introduce 10 the Delaware Legislature.
"The fact is, said he, 'thAt we can ret
tie same privileges under the New York
or the New Jersey law that we are about
TO ask Delaware to give us. My object in
going TO Delaware is to associate myself
aud my interests more Intimately with q
state which now regard as my home,
aud To which have become intimately
attached. Our headquarters will be In
Wilmington, and we will, OF course.
bring great deal OF money into circuia.
ton In the State. We do not come 10
compeu ion with any gas company IN
Delaware or elsewhere, because the bill
which we propose TO introduce does moi
give US any authority to lay pipes or oper
q works"
mir. Addicks' agent said late last nigh
that the proposition was purely q bust
N So one. The money that had been palC
for the main Boston Gas Works wa,
J ~ ,OJO, 600, aud the thirteen other com
panies cost s., 600 900. The new compan,
had secured privileges to enter all street
An the city which the other companies dit
not hold, aud that the deal would resul
in q practical consolidation of every "a
Illuminating compa III Boston.
TIE bill to be introduced gives tn
company life for 20 years; allows 1t to b
sold TO any other company or to buy an
other company or to consolidate with II
fixes Its capital at 500, 900, In 1000 share
at $50 each, and allows 1t TO increase II
took indefinitely.