The sun., 1897-12-24
Boston United Gas Bonds,
Underwriters Of New ENGLAND Gas Coke Co. Bonds and Stock
Boston Consumers OF Gas,
The Board Of Gas and Electric Light COMMISSIONS
Incoming General Court Of Massachusetts,

has not been definitely determined, BUT
THE PLAN CONCENTRATES HAV-
ING THEM BROUGHT OUT BY
TRUST COMPANIES IN THE CITIES
OF NEW YORK, PHILADELPHIA
AND BOSTON.
Claims Of the New England Gas and
Coke Company.
BY these documents it appears that an
aggregation Of men, calling themselves
the New England Gas & Coke Company,
have put aloat 100000 bonds and
$l7 500, 900 stock, upon which they have
borrowed from New York Trust insti-
tuition $l2, 600, 600 cash.
1t appears that they are asking the
investing public, through banking
houses and otherwise, to invest in these
bonds at one hundred cents on dollar.
1t appears that they promised that the
New England Gas & Coke Company
shall earn and pay, from sales of gas to
the present consumers, in the city Of
Boston, and upon their present consump-
ton (2,5OO, ,0OO, 900 feet, $l,050,0 plus
SPAS, 500 from the sale of coke and other
products, S per cent. on the $l4 100000
bonds and per cent. on the $l7, O,OO
stock.
1t appears that the entire security and
assets behind these $l4,O0,000 bonds
and the $l7,5OO,OO stock are certain
stocks, bonds, and evidences of indebted
ness of the old Boston gas companies;
and whatever new property may be
created with s1,OOO,OOO to $2,O0O,0OO
cash.
1t appears that the total of the stock
and bonds purchased by these people
and put behind the $l4,O0O,0OO bonds
and $17,50o,OOO stock represent only 2s
per cent. of the existing stock, bonds,
and indebtedness of the old Boston gas
companies, and that the new property
to be created will comprise lot of marsh
lands in the town of Everett and some
coke ovens to be erected thereon.
1t appears that they have obtained the
control of the Boston, South Boston,
Roxbury and Bay State of Massachusetts
Gas Companies, (the companies now
owning over three-quarters of the gas
property of Boston, and doing over two
thirds of Boston's gas business, not by
purchase, or the expenditure of dollar
of the proceeds OF the sale Of these $l4,-
100000 of bonds and $l7,5OO,OOO stock,
but in some miraculous way not set
forth.
1t appears, from other official and
semi-official statements, that the earn
ings above mentioned are to be secured
without an additional tax on the con-
sumers Of gas.
Impossibility ofFulfilling Claims.
The things and conditions that appear
in the above recited documents, and
upon the faith Of which this New York
Trust institution has loaned this large
amount of its deposits, and the public
are asked to invest, do not in fact exist,
and the promises made are impossible Of
fulflment. 1t is certain that under nc
conditions can the bonds of the New
England Gas 4 Coke Company ever be
worth one-half Of the price at which
they are offered, or its stock ever be
worth anything from any operations de.
pendent on the ownershipor control oi
the principal gas companies Of Boston,
namely: the Boston, South Boston,
Roxbury or Bay State of Massachusetts
The property received for the $4,000.
600 cash which has already been paid is
, not now, nor can it ever be made, worth,
by any operations Of the New England
Gas & Coke Company, one-half of the
, amount paid for it by them.
, The laws of Massachusetts,, and The
regulations of the Board of Gas and Elec
: tric Light Commissioners do not permit