Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1889-02-06
ADDIcKs'S GAS SCHEME.

The Bill for Company to Control Four
teen Boston Gas Companies' Plants to
be Introduced to the Legislature at
Dover To-day.
People in Philadelphia will be as much
interested as people in the state of Della
ware to-day when notice is given in the
Legislature at Dover of an act to incorpor-
ate the Peninsular Investment Company.
The actual head of the proposed company
is j. Edward Addicks, the well-known
gas Spectator of Philadelphia, who is
located in the Drexel Building, and who
achieved national prominence few
weeks ago by announcing himself as
candidate for United States Senator to
succeed Hon Eli Salisbury. The COM
pany is formed for the purpose of dispos
ing of the $12, 600. 600 worth of bonds
recently flooded by Mr.. Addicks in Landon
for the purchase of all the gas works in
Boston, but which have not yet been is
sued. 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 Philadel-
phians said to be interested aside from
Mr.. Addicks and his immediate associates
Moore, A. 0. Granger, George Philler
and Mr.. Gibson.
There were evidences Of opposition 10
the bill among Delawareans who were in
town yesterday who had heard of the
scheme. No one had heard of the pro
posed bill, but all said lit must be a
scheme AT the time Of the contest for
the United States Senatorship Mr.. Ad-
iaH ha 10 L..
has an office in Boston as we'll as ia Phila-
delphia, and who has a country seat at
Claymont, Del, which be claims as his
residence, entered the field He said if
the Republican members of the Legisla-
ture could not agree on any of those
prominently mentioned for the place he
would like to receive the honor as peace
maker. He went to the Delaware state
capital with number Of friends and re-
manned until the Senatorial fight ended
in the election Of dr. Higgins. 1t was
asserted by Mr.. Addickss opponents at
that time that he was using his Senatorial
candidacy as blind by which he could
get acquainted with the members OF the
Delaware Legislature and that later on
he would introduce gas bill of some
| kind. This was emphatically denied.
When a reporter of the Press saw Mr..
Addicks yesterday he denied that his can
didacY for the Senate had had anything
to do with the bill which he intended tC
introduce in the Delaware Legislature
1.-The fact is, said he. chat we can get
the 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 e
associate myself and my interests more
intimately with state which ! regard al
my home, and to which have become in
timately attached Our headquarters
will be in Wilmington, and we will, o.
| course. bring great deal of money int
circulation in the state We do not com
in competition with any gas company il
Delaware or elsewhere, because the bill
which we propose TO introduce does no
give US any authority TO lay pipes or op
crate works.
Mr. Addicks's agent said late last nigh
that the proposition was purely a bus
ness one. The money that had been pal
for the main Boston Gas Works wa
81, 600, 600, and the thirteen other com
panies cost So, 600, 900. The new con
pany had secured privilege TO enter a
streets in the city which the other con
panies did not hold and that the de-
would result in practical consolidate
of every gas illuminating company
Boston.
The bill to be introduced gives Il
company life for twenty years; allows
to be sold to any other company or
buy any other company OF to consolida
with it fixes its capital at 100000,
1000 shares at $50 each, and allows it
, increase its stock indehnitely.-Philad'
, phia Press.