Omaha daily bee., 1896-10-17
IN THE BUSINESS WORLD.
BAY state Gus Company Thrown Into
the Hands of Receiver.

the Hnnts OF n tcrctver.
WILMINGTON, Del. Oct. 16.-Before
Judge Wales in the United, States circuit
court today, ex-senator Anthony Higgins
made application for the appointment OF
receivers for the Bay state Gas company of
New Jersey, the principal ofHce being
located here. Judge Wales granted the
application, and named Augustus McCaullcy.
president OF the Artisans Savings bank of
this city, and Dwight Braman OF Boston
receivers. Security In the sum OF SIS 900 was
demanded The appointment OF receivers
being only temporary rule was Issued
upon upon the office OF the company, returna-
BILE November Z, restraining them from SELL
ing or disposing OF any OF the company's
effects. The proceedings were entirely ex
parte Mr.. Addtcks not being represented.
BOSTON, Oct. 16-The Bay State Gas
company of New Jersey was incorporated in
1889, principally for the purpose of con-
solidating the fourteen gas companies then
supplying the city OF Boston. This company,
Boston gas companies, subsequently alb
sorbed the Brookline Gas company at a cost
of about s125, 900.
The financial statement on January I,
1896, Is as follows: Capital stock. Is 900 900;
funded debt Boston United Gas first mort
gage sinking funds. gold. fifty years, $500
bonds, due January 1, 1899. interest January
and July, 50, 900, 600. Boston Gas, second
mortgage $500 bonds. due January 1. 1899,
interest January and July. s3.000.0 900; Bay
State Gas. income per cent, 81 900 bonds. due
1899. 81, 900, 000 total stocks and bonds issued,
S29 900 900.
The authorized issues under the mortgage
of 1889 were $12. 900 900, of which 81, 900 900
Is secured by the Mercantile Trust com
pany, trustee OF nearly all the stock OF
the Boston. South Boston, Roxbury and
Bay State (of Massachusetts, Gas Light
company OF Boston. the reported cost of
which to the company wGs $40, 000, 900. OF
the balance, $4,000 900, 100000 was re-
served for betterment and improvements
and s3000,000 to acquire control of other
gas companies. An annual sinking fund OF
l per cent of the entire issue was pro-
vided for and bonds can be drawn at 105.
All bonds issued are deposited with the
Mercantile Trust company. New York.
tificates.
PHILADELPHIA, Oct I6-Hexter Bros.
wholesale clothiers, credited with a capital
OF 100000. have failed. The liabilities are
stated to be about $4,000.
ATLANTA, Ga, Oct. 16.-The Merchants
Bang. one OF the oldest and for many years
soundest financial institutions In this city,
closed its doors this morning. having made
an assignment for the benefit OF its creditors
j. G. Oglesby and George w. Scott are
named as assignees The failure was not
unexpected in financial circles. but its an
COnslutfuDte excitement
among the banks depositors, a large crowd
OF whom quickly gathered about the I'M
opened doors.
A notice posted on the door simply stated
that the bank had assigned. to j.. NJ Oglesby.
George W. Scott and George Winship and
that 1t was believed that all deposltors
would be paid in full The failure OF the
bank was due to the withdrawal of de-
posts within the last few days caused by n
rumor to the effect that, Tax Collector a. p.
Stewart, who had $4,000 on deposit there
has been asked by the bank officials not to
check any OF this money out The Officials
deny that any such request was made All
of Stewards checks were honored He with
drew the $4,000 and that coupied with the
Withdrawals caused by the rumor, occa-
stoned embarrassment and 1t was deemed
best to go into liquidat:% H. The amount
owed to depositors is s275.oJ0. There is no
run on any OF the other bausss
LITTLE FALLS, n. Y, 0rt. 1e.-Freeman
Ives & Co.. produce dealers. have assigned
Liabilities and assets and the cause of the
failure as yet unknown. The firm was rated
at from $780, 900 to 100000