New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-30
BUYING UP GAS COMPANIES.
ENGLISH CAPITAL EAGER FOR AMERICAN
INVESTMENTS.
RECENT PURCHASES IN BROOKLYN OF CON
TROLLING STOCK aNTTREsTs-NEw
METHODS PROPOSED.

METHODS PROPOSED.
New-York is not the only city in this neighbor-
hood which has tempted English capital. 1t has
been only few days since there was published an ac-
count of the sfu attempt purchase the dry
goods houses of b. Altman d Co., Simpson, Crawford
d simpson Stern Bros. and Il. H. Macy d 20 nc
gotlations in Brooklyn however. have had dnerent
result The possessors of the surplus capital eVi-
IDENTIFY believe in variety and the last addition maze
by them consists of gas works Of the neighborng Guy
From present appearances It Will not be long Oeloro
Brooklyn gas-lightng will bo controlled entirey ny a
English syndicate. The first step In this uicopon
was made last May, by the purchase OF tho greater
part Of the stock of the Citizens Gas Light CopaS'
whose Office is at No. $50 Atlantic-ave.
The English syndicate who thus made their first
purchase in Brooklyn, are known the Internauonsl
Gas Company. They have new patent process Ok
manufacturing gas from water and crude petroleum
oil which is said be far superior 70 the water aa
naphtha gas at present supplied by the fuoh hun'f
pal Company. They also maintain that 1t can 10
made much cheaply. 1t Is also SAID tnao IL
can DO frozen and again thawod out without losing
any of lbs qualifications as burner The process
has already met with In London and inc com
pany VIII soon introduce it into Paris and at Enzar
beth, n. J.
The head of the International Gas Company in this
country is Charles G. Francklyn, who was once con-
nected with the Cunard steamers. George W. COD
W
the company The purchase Of the stock OF inc Clu
zens' Gas Company made through {. h. stapies
a broker Of No. 215 M0nta gne-st., Brooklyn. he
purchased altogether 30 100 shares, there being ooOoo
in ALL at 75 cents on the dollar Mr. Staples
said that he knew nothing about the company further
than the fact that they possessed plenty OF money
and were able to pay cash for all of their purchases
As yet no changes have been made in the Citizens
Company as the present directors have been elected
for year. which does not end until next February
At that time new officers Will be elected and WILL Oh
course represent the International Gas Company.
The erection OF the new works has been begun al
ready so that gas by the new process VIII be maze
in all probability before February. AT the Tune Oh
the sale the Citizens Gas Company was not aware
that the stock purchased by foreigners. Inc
transfers were made afterward. The same syndca'c
have also purchased the ruling interest IN the UnlOn
Gas Light Company OF the Twenty first warn. lh'
purchase was also made through {. Il. staples
The stock of the linton Gas Light Company is
worth about 100000 said Mr.. Staples. and almost
all OF il was bought by the International Gas Cohl
pany They will assume full control on August l.
The main plant of tho syndicate VIII De erectsd Al
had succeeded in purchasing large part OF the BROOK
Ign Gas Light Company When asked IN regard 10
this. tho secretary said that he had heard notn,hg
about it, although he could not deny the report MI:
staples said that he at least had not carried on any
negotiations with that end In view.
In connection with this purchase 10 was learned
Yesterday that the next census Will probably nave
an effect upon the price Of gas in Brooklyn The law
Is that in cities of S000 600 nhabiants the rates
shall not be over 81 25 thousand feet The present
mice I'm BROOKLYN is 81 60 Should the census show
population of 100000 the price Will be tho same as
in this city,