Middletown transcript., 1895-01-12
AddiCks' Boston
...... Record
How He Made His Millions and What
Ex-Mayor Mathew Thinks.

How He Made His Millions and wha
Ex-Mayor Mathew Thinks.
The Philadelphia Press of Yesterday ha
the following very interesting editorial:
"Mr. J. Edward Addicks, who is at the
present time seeking an election to the
United States Senate from the State of Del
aware, has been call the man from nowhere
Much moro appropriately might he be
termed the man from everywhere, since
ubiquity is one of the striking features in
his record. A year or more ago he organ
lied raid upon the Philadelphia Gas
Works which, however, failed almost as
soon as it was begun. He has made a
record redolent with gas in number of
towns. but in Boston he had the honor to
become the subject of Legislative investi-
CATION and has had his dealings, methods
and peculiarities set out in print. We pub
| lish elsewhere an account of his Boston ex-
perience for the benefit of the people of
Delaware, whom he desires to represent in
the National Senate.
1--WE do not undertake to fathom the
mystery of Mr.. Addicks' Boston gas organ
izations. If he had wanted only to supply
the city with gas the way was easy enough
but why should he organize one company
within another several times over to con-
troll single property? What IS the secret
of the flim-fam game which he played on
the unsuspecting Massachusetts Yankees?
1t was in 1884 that Mr. ]. Edward Addicks
came to Boston, comparatively poor
man, filled with the laudabe ambition pro-
fessedly to give the people of that town
competition in gas. There were already
eight gas companies doing business in that
city. Addicks organized the Bay State
Company of Massachusetts, with capital
of S500,000. He next made a construction
contract between his own company-ihe
Bay State-and himself. under which he
was to receive $3.50. 900 in cash and the note
of the company for 81. .50O,O 900, to run ninety
nine years. He subsequently, assigned the
contract and note to the Beacon Construc-
ton Company, Limited THE Bay State
Gas Company of New Jersey is next organ
ized to hold this big note and issue bonds
upon it. Later the note is transferred to the
Peninsula Company OF Delaware" after
wards called "tho Bay State Company of
Delaware. which at the date of the pub
lication of the Boston inquiry still held
the note. This manipulation enabled
Addicks to disregard the corporation laws
OF Massachusetts,, secure cont rol of the |
gas Interests of Boston, float Sl7,0O0,000 |
of stocks and bonds and make himself |
rich enough to aspire to the United States |
Senate solely on the strength of his bank |
account and his lack of any conscientious
in its use.
In his address before the Massachu.
setts Legislative investigation committee
Mayor Mathew, OF Boston, is obliged to
speak of Senatorial Aspirant Addicks and
his associates in very unfattering terms.
He said Of Addicks' companions: 1.-THE
whole thing was involved in mystery on
purpose, Nobody could distinguish these
different Bay State gas companies or know
the exact relation between them. Nobody
knew that these people were selling gas at
a profit OF 14l per cent. Nobody knew
that they had doubled their property in
three years of management and manipu.
lation. Nobody knew that they kept false
books and made false returns . to three
different State tribunals. This corpora
ton has no lack Of money. 1t has stolen
two millions of dollars from the people of
Boston. 1t has its lobby at the City Hall;
its lobby at the State House. 1t employs
seven eminent counsel. 1t has its news
papers. These men (Addicks g. Co.. have
broken their contract with the city; they
have violated almost every corporation
Jaw upon the statue book; they stole from
heir associates; they plundered the COM
nunity. We ask TO have them put back
where they belong. under the sanction and
of Massachusetts, law"
AS a result of this investigation and by |
virtue of an act of the Massachusetts, Le-
,islature in 1898, the character of the Bay
State Gas Company was revoked and an
lulled. and MIR. Addicks transferred the
Gene Of his activities to the State of Della ,