Smyrna times., 1896-10-21
IMMENSE SUIT AGAINST ]. EDWARD
ADDICKS.
Is 1t a Political COnspiracyp

One of of the greatest sensations of
the year took place Friday, when
Judge Wales appointed temporary re-
ceivers for the Bay State Gas Company
of Boston, with offices in Wilmington.
Messrs. j. Augustus McCaulley and
Dwight Braman were named to take
charge OF the cOmpany's affairs in Will
mlngtOn. The suit was brought at the
instance of one William Buchanan of
New York, the lawyers being Frederick
E. Snow of Boston, Roger Foster of
New York, and Anthony Higgins.
The plaintiff AYERS that he is the owner
OF $1OO,OO of income bonds of the COM
pany, issued in May, 1889. He also
sets forth that J. Edward Addicks has
been president, J. o. Addicks vice
president and treasurer, and William
IL. Miller, the private secretary of J.
Edward Addicks, the secretary of the
company since its organization, and
that the capital stock was raised from
500, 900 to So, 900, ,OOO
Mr.. McCaulley and ex-senator Hig-
gins took possession of Mr.. Addicks'
office on Friday afternoon. On being
refused the keys of Mr.. Addicks'
private desk they sent for a carpenter
and forced it open. 1t is reported that
as soon as Mr.. Addicks reaches home he
will institute suit against these gentle
men for breaking into his private desk.
Mr.. Addicks was over in New York.
Saturday getting papers ready to de-
fend his suit in the United States
Court and GUST the receivers. He has
had Mr.. Buchanan arrested in New
York ON criminal charge. Buchanan
circulated false reports about the Bav
State Gas Company, stating that it was
bankrupt and insolvent, and that its
president had diverted millions of dol
lars of its capital to his own use
Buchanan was required to furnish bail
Tor his appearance. This is the second
time the Bay State Gas Company has
been enjOined in United States Court
before Judge Wales. The Daily Re-
publican says it looks like conspiracy.
as hundreds of dollars were lost bv the
shrinkage in the price of stock. In
May last it sold at $33. so per share,
yesterday it sold at $3.50 per share. a
loss of $26 per share, which means a
good deal to some speculators.
The same paper goes on to say:
The enemies of j. Edward Addicks
Instituted another suit against him in
order to destroy his political influence
and cripple his financial operations
Their effort this time is to show mis-
appropriation Offunds that the said com
pany is insOlvent, and to have re-
celvers appointed. A year or two ago
Addlcks was annoyed by several suits.
all OF which were decided in his favor,
the conspirators in each case being
completely fOiled. Whether the pres
ent suit shall prove to be better founded
remains to be seen. Whether the
allegations made of misuse of funds
can be substantiated or the entire pro-
ceedlng is mere conspiracy to de-
stroy Addlcks financially and polite
ally, will be known in a few days. Ad-
dicks had better drop politics if he
wishes to escape with his fortune or
with his life, as the spite which
prompts action in the one case
may be equal to any emergency in the
other. The fact that this suit is
brought at this time leads to a sus-
picion that the purpose is to influence
the election quite as much as to pro-
tect the interests of the stockholders of
the Bay State Gas Company.
Adde'S STRIKES BACK.
The appointment of receivers for the
Bay State Gas company, of Delaware.
promises to result in an interestino
series of lawsuits. The announce
ment was made Saturday that Frederic
K. Coudert had been engaged, with
Senator Gray, of Delaware, and other
prominent lawyers to run the Bav
State Gas Company of Delaware
against those who are responsible for
the receivership proceedings.
1t was decided that an effort should
be made to bring the case up again be-
fore Judge Wales.
The lawyers for the company sav
that they will prove it to be perfectly
solvent, with balance; and further.
that it has paid an indebtedness of
81, 200, 900 during the past year and a
| half.
SUITS AGAINST HIGGINS ALSO.
Suit will be begun at once, thev saw.
against William Buchanan for dam.
age to the company's property, and.
later, suit against ex-senator Hig-
gins and several Boston lawyers and
stock brokers, for conspiracy. Sew
eral spectators in the stock, it is said.
will be included in this suit.
One of Mr.. Addicks' friends. a stock
holder in the company, said that one
reason why the appointment of a re-
celver at this time was so unfortunate
was that on November the company
expected to enter into deal involving
millions, and that the appointment
made it impossible for the directors to
hold meeting and ratify the con-
tracts.
He also said that on Thursday night
the officers of the company offered to
buy Mr.. Buchanan's stock at a fair
price, but he wanted $235, 900 for it,
and when they refused to pay so much
remarked: "Well, Mr.. Addicks can't
be Senator then"
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