The herald., 1896-12-07
Organized to Lower Prices Of
Electrical Service
CAPITALISTS OF ST. LOUIS
Expect to Cut Rates 10 Half and Still
Make Profit
The Missouri Metropolis Thinks the
New Companies Mean Business and
Rejoice Accordingly.
Associated Press Special Wire

Associated Press Special Wire
ST. LOUIS, Dec. GA gigantic deal,
involving a revolution in the telephone
and electric lighting business Of st,
Louis, has been consummated. Three
big companies, with an aggregate paid
up stock of nearly So ,G00,0 900. have been
organized by about twenty of the most
prominent and wealthy citizens of ST.
Louis. One of the companies will in
troduce a telephone system in St Louis
at much lower service rates than those
prevailing at present. 1t will establish
a home telephone plant which will in
time extend to neighboring points. The
second company, owned by the same
persons, will operate an immense cleo
tric plant, supplying power of all kinds
for public and private use. The third
company will construct the telephone
and electric plants for the two other
companies, manufacture equipments
and will construct a complete system Of
underground conduits. A fourth COM
pany is also in the deal, but it will not
figure in the proceedings at present.
The local parties to be interested in the
new companies are Ellis Wainwright,
Adolphus Busch, August Gehner, Sam
uel Kennary, Julius S. Walsh, Robert
Wells, Charles II. Turner, w. +. Mol
ker, William Hartick, w. F. Foster,
Henry Nicholas, George j. Kobusch,
Phillip Stock, Lawrsnce B. Pierce,
Breckenridge Jones, c. H. K. Walsh,
Otto Won Schrader, William D. Orth-
vein and H. S. Priest.
The Kinloch Telephone company is the
name of 100000 company chartered
by the secretary of state at Jefferson
City Saturday, with a paid-up stock.
The incorporators were the st. Louisans
just named and Hopkins j. Hanford of
Evanston, Ill, and James II. Parish Of
Brooklyn, n. Y. The capital stock Of
the COMPANY, however, will 81 be taken
by the st. Louis parties. Articles of in
corporation of st. Louis Electric and
Construction company, with full paid
up capital of $500, were filed in the ~
corder's Office of this city. The papers
contain the same fist of incorporatcrs.
Late yesterday afternoon the same
gentlemen held a meeting and closed a
deal which put them in possession of the
Citizens Electric Lighting and Power
company and the Telephone and Tele-
graph Service company, both of which
have had but nominal business Tor
many years. The Citizens Electric
Lighting and Power company was then
practically organized, with fully paid
up capital stock of $3.50, 900, and officers
were elected.
The deal is one of the largest ever ac-
complished in st. Louis, and it's effects
are far-reachng. The combination was
made for the avowed purpose of revoIu-
tionizing the telephone and general
electric business in St. Louis. The local
capitalists start out with the announce
ment that the new telephone company
viii. provide telephones at s36 per year
for residences. $50 for physicians and $50
for business houses The present tele-
phone rate is s100 per year for the Bel
Telephone service. The new company
will open general offices next week and
will at once get out and hustle after
prospective subscribers. The local can
italists apparently mean business, rs
they filed their applications for conduit
space with the board of public improve
ments late yesterday afternoon, and also
filed four bonds, aggregating $14O, 900,
with the mayor and council