Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1896-10-22
concerned in the matter will be pro-


COUNTER CRIMINAL CHARGE.
A dispatch from New York on Friday
said. Interest was aroused in financial
circles to-day by the announcement of
the filing of a bill in the United States
circuit court ut Wilmington, DOL, by
Anthony Higgins Of that city, Roger
Foster Of New York and Frederick
u. Snow of Boston, Mass, solicitors
for William Buchanan of New York.
Tonight William Buchanan was
served with an order to appear In a
police courr on Monday next to answer
to criminal charge made against him
by Camille Weidenfeld, of the firm of
Lawson & Weidenfeld, of Boston and
New York.
The summons to appear was issued
by City Magistrate Wentworth on
dispositions filed in his court. The
depositions declare that Buchanan has
circulated false statements In tho
presence of Weidenfeld and others con-
corning the Bay State Gas Co., saying
that it was insolvent and bankrupt,
and that tine president had diverted
millions Of dollars of it's capital stock
to his own use.
1t is charged that Buchanan had
threatened that he would ruin Addicks
If he had to spend Sl50, 900 to acco=s
plish that end; that he had arranged
to bring suit against the company and
secure receiver for it unless he re-
ceived 1895, 700 for his securities by Il
O'Clock to day.
1t is charged that he also insisted
that ex-senator Higgins and all counsel
should be fully satisfied for all their
claims. Unless the payment was made
the suit in Delaware would be pushed.
An affidavit was filed by the treasurer
Of the Bay State Gas Co. saying that
the corporation was not insovent OF
bankrupt; that during the present year
it has paid off all it's Indebtedness. al
one time amounting to over 81, 900, 600
that at present it has only a small
amount of current debt and has cash
on hand to considerable amount.
The treasurer further alleges that the
president of the corporation has moi
stolen any of itR capital stock, and &C
far an the new issue is concerned he
has not received single share of it.
Mr.. Addicks has intimated to his
friends that he will endesvor to have
ex-senator Higgins indicted for crimi
nal libel, for attempting to defamt
him, ruin his credit and that of his
corporation. Addicks' friends, there
fore, declare that the criminal actor
against Mr.. Buchanan is likely to bt
| the first of series of suits which vii
be the response to tho act of the oppo
nents of Addicks in securing receiver
for the Gas Go.
For some time there have beer
rumors in Wall street that the Ba,
State Gas Co. would pass into thl
hands OF a receiver, and in consequence
the stock declined gradually from 90 I,
| 331, which point was reached after tn
announcement Of the receivership wa
made to-day.
WHAT BAY STATE COMPRISES.
The Bay State Gas Go. of Ney
Jersey was incorporated in 1889
principally for the purpose Of con
solidatiug the Ia gas companies thel
supplying the city of Boston. Thi
company, in addition to obtaining con
troll of all the Boston gas companies
subsequently absorbed the Brooklin
Gas Co., at cost of about 1925, 600
The financial statement on January LIST
1876, was as follows
Funded debt, Boston United Gas FIRST
mortgage sinking fund, gold, 80
years, $500 bonds due Jan. !, 1885,
| interest Jan. and July, Issued. ...... 9,00O,0l
Boston Gas, second mortgage, gold,
| $500 bonds, due january !, 1889, in-
| terest January and July, issued ...... 5000, OF
| Bay State Gas income. Z per cent,
$1,000 bonds, due lS9s, Issued ........ 2,ON0.0t
Total stocks and bonds issued. 80. SEQ 00O OF
The authorized issue under the mort
gage of 1883, was Sl2, 600. 600, of whic
81, 600, 900 is secured by the Mercantil
Trust Co., a trustee of nearly all tn
stock OF the Boston, South Boston
Roxbury, and Bay State (of Massachu
setts) Gas Light Co. of Boston, the re
ported cost OF which to the compan
was $40, QUO, 000l OF the balance (S5, 600,
000), 81, 600, 600 was reserved for better
ments and improvements, and So, 900.
600 to acquire control of other ga
companies. An annual sinking fun
OF per cent of the entire issue wa
provided for, and bonds can be draw
at 105. All bonds issued are deposite
with the Mercantile Trust Co., Ne,
York, which issued it's Boston ga
trust certificates.
J.H. Holfeckor, Jr.. was asked Satui
day in regard to report that anothe
suit was to DO brought. lie said
was not ready and therefore could nj
state whether his client would bring
separate suit against the Bay Stat
Gas Co. or possibly cooperate wit
Buchanan in the present pending sui
1t is understood that the amount il
volved is much larger than that il
volved in the Buchanan case.
I