The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-01
BROOKLYN'S GAS FIZZLE.
CURTAIN DROPS ON ADDICKs'S Al
TEMPT TO GAIN CONTROL.
His BecL,on Construction Company. which
Was Formed to Buy Up All tho Brooklyn
Gas Companies. Wound Up - Some Facts
About the Organization or the Company.

His Reckteu Construction Company, which
Was Formed TO Ruy Up All the Brooklyn
Gas Companies. Wound Up - Some Facts
About the Organization OF the Company.
J. Edward Aidicks's Bcckton Construction
Company. Limited, which was formed by him
to acquire and control the gas companies Of
Brooklyn. has been wound up by a final distri-
button of assets among the stockholders. Mr..
Addicks's project was TO effect a consolidation
of the seven "a, companies in Brooklyn, but he
failed of il accomplishment, although at ono
time the company did control three OF the
companies, the Brooklyn, Metropolitan, and
Citizens. Ike many of Mr.. Addicks's prof.
ects, this ne, with opposition. and but for
the cncrge,!c acti on Of certain members OF
the comranv's board, there would probably
have been serious loss TO those whom he had
prevailed upon TO JOIN with him.
II was negotiations by these members of the
hoard with The Standard oil Company inter-
ests con,rolins the Fulton Municipal GM
Company Of Rnoklyn that resulted in tho for
nation Of the brooklyn Union Gas Company
which accomplished what Mr.. Addicks hadRgb
bccn ahl, 10 do the consolidation OF the Brook
lyn gas companies. A man who was interest
ed In the formation of the Bcckton company
said YESTERDAY:
.sTha pnmnlnY wis incorporated III u iiV
pbio 4, tho latter part of 1892 by J. Edward Adj
lint live were clerks in his office. The capital
stock CONSISTED of s2.50o.0O0 in preferred and
n like amount in common shares. subscription
nt,irns y" nj lark. Ward & Co.. and the 10000
nr,eferreI shares were quickly ovcrsubscribed
Tor Mr., Adde'S agreeing e, take 1000 shares
MT The suh,tIiY.ion price. The subscription list
VA su nlno., A directory of the leading business
men and CAPITALISTS Of this city and Boston,
"Part Of III, subscription money, was used Tor
n nanic,o', t,a k, until the Deckton Company held
Shares that cost i nearly y, 10000 As not quite
$o,0OO.0N o. the " oo:O 600 sub sG e. 10
n M ' bad of course. to borrow nearly $s0O,00O
Esddicks wa. not successful in securing a ma;
tority Of s'%h 5 N icr rmG Ssi' opEn "s HinlII from Tho
nr,ncinnl holders and managers OF the Fulton,
MmniciInl la, company. namely, tho standard
VI! !M RsS|ic'' tni, aght was in progress the unccr;:
ta;rHt,h -. 10 H. result and the tightncss OF
mnncy MADE md il difficult forth Beckton Company
II nnri. & To- of tho New York Stock Exchange
wcro ma r The Brckton Company fiscal agents,
and then,,riycs adynpcSd about 5000 600 to- tax nnT
mill th,r ,tonIt he replaced. Just previous TO
this DSayi, 4 70. secured representation IN ne
nmnase,ocnt Of ne B f SompanSS; at tHe
request W shepard OF Boston, who had sub
srr;h 5om a"l raii for 100 shares Of the Beck
-. -, .rrrl SOCK, II. ~, iHHlpDtll OI IuIh
ET3n grGl'Ti,,' and spencer Irwin OF Philadelphia
Maru ~ N chairman Addicks, the other mem
hon1 = ,hc lieckt0n board.
pers or lmnn,iihlr between Addicks and the Full
toni vvrirrGl Cns Company eliminated IN Q
s sSs,% wan e. e, q E,Sf i f%I;G @iiG Sl 'hsM' T 1fat o out:
dicks h,u IN A fight could only bring disastor
come OF prrkton Company. and. realizing this.
3 'Ps 4 e :" al 1n% nn %s;srsi aTinsP %ish, shS F %fl !
bell came !" ,."nulr. and, outvOting tho AddickS
o Mmnsiii Inn, tasrerd to join forces with hem p
SelllnR u" t' .-une-half for cash and the bal
iyn gas ''' rrrrain interest In n new Brooklyn
s Snr IGf led Ga Company.
Iohsoluh'" ,,,y there was ultimately secured
IN W l,r. Of the BccktOn preferred shares
LOT inc hnI in the first mortgage 8 per cent.
b bonh Ter ,G"; 10 per cent. ~ the stock OF THIS new
G3hsolida,y" company; and in addition TO this.
over . n Dgr cent. IN cash.