The sun., 1897-12-24

was done on November In. Much has
been stated In the public prints and
otherwise ofwhat really took place on
November lst. What the public knew
occurred was that the so-called Bay State
Gas Company Of Delaware management
of the local companies was tnrned over
to the Standard Oil party. Il conducted
the negotiations on behalf OF
the Bay State Gas Company Of Delaware
and the local companies; was party to
all the agreements which were entered
into, and therefore speak with author
ity.) BY the trade which was made on
Nov. lst the Standard Oil party came to
the management temporarily of the Bos-
ton, South Boston, Roxbury, and Bay
State of Massachusetts, Gas Companies,
and became the absolute owners Of the
Dorchester and Brookline Gas Compan-
les. The Bay State Gas Company Of
Delaware came into possession Of guar
anty that it's ownership of the Boston,
South Boston, Roxbury and Bay State Of
Massachusetts, Gas Companies should be
preserved until the management was re-
turned to it in any of a number Of ways
optional with it, the Bay State Gas Com
pany OF Delaware. This was the trade
made on Nov. l, 1895, nothing more,
nothing less, and regardless Of all state
ments by the promoters Of the New Eng
land Gas and Coke scheme or others who
are ignorant Of the facts. There was
nothing done at the time this trade was
made, or at any other time, or intended
to be done which in any way impaired
the ownership by the Bay State Gas
Company Of Delaware Of the four COM
panies named, or its rights to at any
time under certain conditions resume
its former management Of the four
companies owned by it. The
Bay State Gas Company Of Del
aware can retake the possession Of the
Boston, South Boston, Roxbury and Bay
State of Massachusetts Gas Companies
when it, either by purchase, redemption,
operation of the sinking fund or in other
ways, obtains or cancels the $1,000, GOO
Boston United States Gas bonds, first
series. No one other than the promoters
of the New England Gas & Coke scheme
who are in utter ignorance of the agree
ments and declarations Of trust of May l
and of Nov. l, has had the temerity to
suggest that the management OF the,e
local companies, together with all OF their
and assets, will not be returned
TO the Bay State Gas Company Of Della
v are, even if the Bay State Of Delaware
takes no steps whatever, and simply
waits for the sinking fund to relieve it of
the obligation and return the profits and
of the local companies.
have described the condition of the
gas situation down to the advent of the
Whitney Mcmillan syndicate or New
England Gas & Coke scheme, and before
rcating of this matter, will briefly
the situation as it then ex-
sted.
Bay State Control.
The Standard Oil party were in control
If the entire Boston gas, situation by the
lbsolute ownership of the Brookline and
Dorchester companies and the temporary
of the Boston, South Bos-
on, Roxbury, and Bay State Of Massa-
'husetts companies. The Bay State Gas
company of Delaware absolutely
'wned the Boston, South Boston,
soxbury and Bay State Of
companies, and had the
right to take back the
of them at any time by
cttling in any way with the 100000
+ Boston United Gas bonds, first series.
he four companies owned by the Bay
tate Gas Company Of Delaware were
arning sufficient to pay all fixed charges, I
nd the Brookline and Dorchester Gas
through and by the contract
nth the Boston Gas Company, were en-. ,
bled to earn all fixed charges and 10
er cent. dividends upon their respective ,