New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-03

THE GAS TRUST NOT TO BE DISTURBED
BY THE ATTORNEY GENERAL.
ACTION WILL. BE BEGUN TO DISSOLVE THE
SEVEN ORIGINAL COMPANIES-THE cOMBl-
NATION IN FULL CONTROL

SEVEN ORIGINAL. coMPANIEs-THE CoMBI-
f- NATION IN FULL. CONTROL
FURTHER ACTION LIKELY
Attorney General Hancock yesterday decided
not to institute proceedings to annul the char
Ter of the Brooklyn-Union Gas Company, as
petitioned to do by DR.. John c. Lester. through
his ATTORNEYS Grant De Fere e. Mayer. He
decided, however. to begin actions to annui the
charters of the Williamsburg. Fulton Munich
pal Nassau Peoples. Metropolitan. Citizens
and Brooklyn Gas Light companies. whose
franchises plants contracts. mains and leases
were acquired year ago by the Brookyn-U IN
Ion company.
In the memora ndum which he filed the At
torney- General says that the sales of property
and franchises made by the seven com
panies 10 the Brooklyn-Union under chapter
tbs. Laws Of 1899. which permits such con-
veyances. But this law. he points out con-
templates the merging of the consolidating cor
porations into the single new corporation. He
adds:
Corporations which have transferred their prop
continue the seinbance Of corporate life, espe-
cially when they have suspended iher ordinary
and lawful business beyond The time perm'ted o.
law. Actions will therefore be commenced IN Inc
Of b The pS9pe OF Tn, heir
rights and property.
The news which first came from Albany was
to the effect that Mr. Hancock had decided to
attack the Brooklyn-Cnion company on the
ground that ii an illegal combination TO
prevent competition. sale of 200 shares or
stock made at s9i4, as against Ola. the
last previous quotation. The report was after
ward corrected. and the statement made that
he would move 10 dissolve the seven old COM
panes by consent Of the attorney Of the
Brooklyn-Unio Gas Company
w. H. Dyknian. who appeared for the Brook
lyn-Union at the hearing before the Attorney
General. said yesterday:
Upon argument we discaimed ownership or
interest in these seven companies. and con-
coded that they should be dissolved
Paul f. De Fere who argued the for
DIR. Lester said.
IF this is all that the Attorney General has
decided. l only say that it would have been
far wiser. and the people would have been bet
ter satisfied and the interests of the public
better served, If the Acknowledgement had
brought action to restrain the Brooklyn Union
Gas Company from continuing in the exercise
and the operation Of the franchises and plants
1T acquired from the seven old gas companies
and 10 direct ii to give back to them all that
il took from them. and directing them TO re-
sumo the operation Of their own systems. Com
petition would have thereby been restored TO
US. The people want renewal of competition.
That can only be done by perpetuating these
seven old companies and compelling the Brook
lyn-Cnion company to give back TO them what
IL took away
IF this decision does not take under con-
sderation any steps to dissolve the Gas Trust
there are other means which may and. can
say. will he pursued Any one buying COM
modify has the RICH. to ask from the courts
what asked from the Attorney General. Ihere
is no doubt that such an action will be
brought"