The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-17
BAY STATE GAS COMPANY
Made at Wilmington, ILL.,, for a
Eeceiver.


Wilmington, Del, Oct 1s-Before
Judge Wales in the United States cir
cult court today, ex-senator Anthony
Higgins made application for the ap-
pointment of receivers for the Bay State
Gas company of New Jersey, the prin-
cipal Office being located here. Judge
Wales granted the application and nam
II ]. Augustus McCauley, president Of
the Artisan SavingJ bank OF this city.
and Dwight Bramah OF Boston, receiv-
ers. Security in the sum Of s25, 900
was demanded The appointment Of
receivers being only temporary. a rule
was issued upon the Office of the COM
pany, returnable November Z, restrain
ing them from selling or disposing Of
any OF the company'S effects The
proceedings were entirely ex parte, Mr.
Addicks not being represented.
The complaint upon which the appli-
cation was based is made by William
buchanan of New York. a holder of
Bay State Gas stock TO the extent OF
s1o0, 900.
The complaint makes rhe following
charges: That the company has not
paid any Interest since April, 1884; that
the capital stock OF the company was
raised from 5000. 900 and that the ma
jority Of the stock was raised by Ad-
dicks and his agents. without just con-
sideration and fraudulenty; THAT the
directors and officers OF me company
are the creatures of lAddicks and s1lbmls-
sive to his control; that Addicks endee-
vored to dispose ofs4, 5co. 900 Of the stock
to the Bay State company OF Boston;
that, but for the NEUTRALITY-SUSPICIOUS. Of
Addicks and his agents, the company
would have been paying dividends OF z
per cent.
The petitioner further alleges that IN
his opinion the affairs OF the coInpany
will not be conducted in any better man.
ner while j. Edward Addicks is in con-
troll. and asks the court TO adjudge it IN
solvent and appoint receivers
Boston, Mass, Oct. 16-The Bay
State Gas Company OF New Jersey was
incorporated in 1889. principally Dor the
purpose OF consolidating the fourteen
gas companies then supplying the city
of Boston. This company. in addition
to obtaining control of all the Boston
gas companies, subsequently, absorb
ed the Brookline Gas company. at a
cost of about s125.000. The financial
statement Of January /, 1896. IS as fol-
lows: Capital stock, $4,000, 900. Fund
ed debt: Boston United Gas first mort
gage Slnk1HS luliu, SOiN, w years, SOvV,-
900 bonds due January 1, 1899, interest
January and July. issued $4,000, 900; Bos
ton Gas, second mortgage gold, $780,
900 bonds due January 1, 1889. interest
January and July issued 5000, 600; Bay
State Gas income per cent, s1,70o,0oo,
due 1899. issued $1,000, 900. Total stocks
and bonds issued $2s, O0e, 900.
The authorized issue under the mort
gage of 1889 issued s12. 0o0. 600, of which
81, 900 900 is secured by the Mercantile
Trust company, trustee Of nearly all
the stock Of the Boston, South Boston,
RoXbury and Bay State tof Massachu-
setts) Gas Light company of Boston,
the reported cost of which to the COM
pany was $4,000, $50. OF the Balance,
s., 000, 900, 81, 600, 900 were reservee for bet
terment and improvements s--d $1,000
900 to acquire control of OTTER gas COM
panies- An annual sinking fund OF
per cent Of the entire issue was pro-
vided for and bonds car be drawn ar
Jos. All bonds issued are deposited
with the Mercantile Trust company,
New York, which issued Its Boston
Gas Trust certificates