The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-04-17
THE MORNING NEWS: WEDNESDAY, APRIL II, 1885,

and council requiring them to show cause
why they should not pay the $4,000. Ac-
cordinglY Judge Gustin has granted rule
nisi requiring the mayor and council TO
show cause before him, on April 81, why
they should not be required to pay the said
amount Mayor Price is prepared to con
test the matter stoutly. He also does not
think the bond commission has any right TO
employ Mr.. Estes at $500 to bring tbs suit,
and should have consulted the city attor-
nev. The bond commission claim they
have perfect right to employ an attorney.
Capt. Vincent Lockhart is the oldest man
in Hall county and veteran of the war of
1912. He ia 95 years Of age and can read
newspaper without glasses. His mind is
clear as a sunbeam, but he lives in the
memories Of the past. He takes a lively
interest in current events and is a constant
newspaper reader ana has been a subscrib-
er to the Augusta Chronicle for fifty years
He was born and reared 10 Lincoln county,
and represented that county for several
terms in the legislature He remembers
when A. II. Stephens first entered the legis-
lature, and spoke with pleasure of Little
Alex's' speech before that body Ill behalf
of an appropriation for the state road. He
looks upon Milledgeville as the dear old
capital of Georgia, and thinks the removal
of the capital to Atlanta was Of doubtful
propriety. He regards Augusta as the
greatest city in Georgia, and Pat Walsh as
the greatest statesman. He never was on a
railroad train unit! few years ago, when
be visited Augusta to dispose of some rail-
road stock. He says the train went so fast
that he could not see the country at ali, and
when he looked out of the window il ap-
peared as il the earth was whirling rapidly
around, and made him quite sick. He
settled fourteen miles north of Gainesville,
fTaI Ioll .nfx
he has reared a family Of three children.
His two sons are physicians now engaged in
practice, one in Hall and the other IN Banks
county.
Jim" Mulhall, who is referred to in the
following from the Augusta Chronicle, is
well known among the men -about-tow
of Savannah: Last week James Ross, q
well-known New Yorker, spent several
days in the city and took occasion to renew
his friendship with Jim Mulhall, who was
head barkeeper at st. Georges Casino on
Staten Island. Ross was clerk to the treas
urer Of the casino for three seasons, and
manager for one winter of the Canadian
Club at New York. During Mr.. Ross visit
here his ready cash ran out and lie asked
Mr.. Mulhall to cash $50 check,
signed by J. w. Boyle, his brother-in-
law, and one OF the most prominent oyster
dealers in New York. MIR. Mulhall cashed
the check. Friday Ross came with another
check for $35 aud borrowed $50 on it, say
ing he would call for the other SIS before
he left. Mr.. Ross explained to Mr.. Mulhall
that his brother-in-law, Mr.. Boyle, had
rented several stalls in the new Washington
square market, in New York, two of which
were in his (Ross1 name, and he was off on
a trip to escape the investigation that
was doing on about them. Saturday the
gentleman did not call around for his re-
manning $l5, and Saturday evening Mr..
Mulhall had one of the checks returned,
marked Forgery" Ross in the mean
time, had skipped, and Mr.. Mulhall has
been taken in by one whom he we'll knew
TO be man of good family, and about
whom, in an association of several years
with him, he had learned nothing disrepu-
table. He had considered him always as
friend and had so treated him while in the
city"
On Saturday night majority of the
stock of the Atlanta Gas Company was
sold to the United States Gas Light Com
pany of Philadelphia. The negotiations
were conducted By r. j. Lowry, J. II. Por-
ter and Maj. Mecaslin for the Atlantians
and Mr.. Gibbs and associates for the Phila-
delphians. The price paid is $3l Is per
snare of $25. Ii is further agreed that
every shareholder in the Atlanta company
can put his stock at these figures, and the
Philadelphians are bound to take it. A
forfeit is put up to guarantee this, and the
directors have set a communicable example
in this, protecting the minority share
holders. The story OF the Atlanta
Gas Company reads like romance.
1t was organized ia 1854, and
the city was first lit by gas on Christmas
night of that year. The capital stock was
$50, 900. The business paid handsomely
from the start, and 1t not only paid divi-
bends without fail, but has added to the
plant from the profits until the capital
stock is $4,000 This great sum had been
earned in the profits. 1t is now sold at
S3l % share, or about 30 per cent. above
par, the face value being $25 The price is
even better than this The company now
has over $50, 00O in the treasury which it
retains, and will divide among it's stock
holders. The price is. therefore, really
about S36 share. No stakeholder is COM
PEELED to sell, but the purchasers are bound
to take all that is offered before July l.
The largest stakeholder was Mr.. Helm of
Philadelphia, who gets 100000 by this
trade: j. A. Porter who gets 500 900 is
next; Major Mecaslin has had about $40
600; r. J. Lowry 10000; T. G.. Healey,
Mrs Duncan, Mr.. Rhode Hill, George Hope
and others hold smaller amounts. The
Atlanta Home Insurance Company bought
some Of the stock for which it paid $4,000
II has from its dividends and in this trade
drew Sl9, 500 on its investment. The city
Of Atlanta was one of the original stock
holders. 1t invested $4,000. or this it
paid $4,000 to Messrs. Patterson and Nor
rill as brokerage on an issue of per cent.
bonds. The other $1,000 it sold about two
years ago for 100000 If the city had
held the stock until the trade was COM
pleted it would have received about $780,
600. 1t is estimated that in the thirtv-three
years the city has drawn over $500 900
on its investment. The Atlanta Ma
tional bank had some of this stock, which
it sold at $l8 per share about a month ago
The purchasing company-the United
States Gas Light Company -owns the gas
works in a number OF towns and cities In
the country. 1t is extending its operations
rapidly. Some months ago it bought the
other gas works in Atlanta, and its pur-
chase of Saturday night gives it control of
the gas in Atlanta. 1t will Immediately
move to enlarge the works, and lay several
miles Of new pipes. The consumption of
gas is steadily increasing in Atlanta. Last
year the Atlanta Gas Company sold So
0OO, 900 feet OF gas, and the Water
Gas Company sold 35, 000, 900 feet. Tho
new company will probably soil 125, 600, 900
feet for the current year. 1t is said to be
improbable that the price of gas will be
raised. though it may be put TO 81 25 per
thousand Possession is to be given at
once.
FTnRIDA