Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-10-16
BAY STATE GAS COMPANY.
appointment of Receivers of the Big
Corporation.

Appointment of Receivers of the Biz
Corporation.
WILMINGTON, Del, October 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 Boston and this city, the principal Office
being located here. ,
Judge Wales granted the application and
mar I'd J. Augustus McCaulley, president OF
che Artisans Savings Bank. this city, and
Dwight Braman of Boston. Mass, re-
ce!vers. Security in the sum of $4,000 was
demanded. and Will be furnished later.
The appointment of receivers being only
temporary, rule was issued upon the Of
nee of the company. returnable November
.. restraining them from selling or dispos-
Ing of any of the companys effects.
The proceedings were entirely ex parte,
MI Add-ckS not being represented.
Charges Against Addicks.
The complaint upon which the applica-
ton Was based is made by William Bu-
chanan of New York. a holder of Bay State
Gas stock to the extent of 100000. The
complaint Is very long. but in brief 1t
makes the following charges:
That the company has not paid any in
terest since April. 1888; that the capital
stock OF the company was raised from S.
Unoo, and that the majority of this stock
was retained by Addicks and his agents,
without Just consideration. and fraudulent
ly; that the directors and officers of the
company are the creatures of Addicks and
submissive to his control; that Add;cks en-
deavored to dispose of S4.JOOOOO of the
STOCK TO the Bay State Company of Boston;
that but for the maladministratio of Ad-
dicks and his agents the company would
have been paying dividends of per cent.
me petitioner further alleges that in his
n fo{ - r.
not be conducted in any better manner
while j. Edward Addicks is in control. He
claims that the company Is indebted to
MIN in the sum Of 5000. and asks the
receivers.
Associated with ex-senator Higgins as
counsel In the case are Roger Foster Ct
New York and Frederick E. Snow of Bos-
ton.
The United States marshal was looking
for Mr.. Addicks all of this morning in or
DER 10 serve him with notice of the appoint
ment OF receivers and the rule to show
cause why the appointment should not be
made permanent. He could not be found,
however. Inquiry at his home in Clay
mont, Del, near here, was met with the
response that he was not there. and up to
O'Clock he had not appeared at the Of
fee of the Bay State Gas Company in this
city.
BOSTON. October 16.-The Bay stare
Gas Company of New Jersey was inco--
porated in 1850. principally for the purpose
OF consolidating the fourteen gas COM
panies then supplying the city of Bost On.
This company, in addition to obtaining con-
troll of all the Boston gas companies, sub
sequently absorbed the Brookline Gas Com
pany. at a cost of about $123OOO.
The financial statement on January 1,
1896. Is as follows: Capital stock, $4,000,
go; funded debt Boston united gas first
mortgage sinking fund. gold, fifty years,
$500 bonds; due January 1, 1889; interest,
January and July, issued. s9OOO,OOO.
Boston Gas Company second mortgage
gold $3.50 bonds; due January 1, 1885,, inter-
est. January and July. issued, s3.0O0.00O.
Bay state gas income, per cent; $1,000
bonds; due 1890; issued, $2OOO,OOO.
Total stocks and bonds issued, so 600 600
The authorized issue under the mortgage
of 1889 was $12.G0O.0OO of which s7,OOOOO
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 Com
pany Of Boston. the reported cost Of which
to the company was $1OOOO,OOO. OF the
balance S5.UO,O0D, $2.0O0,OO were reserved
for betterments and improvements and
S',Uo,OW to acquire control of other gas
companies. An annual sinking fund Of
per cent of the entire issue was provided
for. and bonds can be drawn ut 1p5. All
bends issued are deposited with the Mer-
camille Trust Company, New York. which
les ued Its Boston gas trust certificates.