The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-10-08
FL URRY IN CHICAGO GAS.
Certificates Decline Four Points on tho re-
norten sale OF Two Outslde Commando.

ported sale OF Two Outside Companies.
More than n third of the business in stocks on
the New York Stock Exchange yesterday was
in Chicago Gas certificates. The dealings were
on an enormous scale, and resulted in a sharp
decline in the price, caused ostensibly by the
announcement made in dispatches from Chi
cago of the sale of the Universal and the Mutual
Fuel gas companies, two companies outside OF
the Chicago Gas combination, to Emerson Mo.
Millin X Co. of this city. Chicago Gas GER.
titcates aggrcgating 5000 shares sold at
the opening OF the market at prices ranging
from 95 to a6. against 97Hs, the closing price on
Wednesday,. Under continued heavy dealings
the price later in the day declined To 92as. The
close was at 93's, representing a net decline for
the day Of 4 points. Theitltal sales were lo1,-
700 shares. ana pol 800 shares was the grand
total for the day for all stocks.
Emerson MCMillin said at his office: II am
not prepared as yet to admit that ] have made
ihe purchase reportch. But VIII say ms: n
purposes only. and not for any stock. jobbing
reason. or With any intention of prccipitating 8
gas war in Chicago. So far as Chicago Gas is
concerned, the mere change OF ownership of the
other companies ought not to affect it in the
least. The companies were there before. and
were operated in harmony with the Chicago Gas
Company, and there will be no change in this
respect whatever. There is no intention or
any sweeping reduction n the price of gas
GnlGAG"; oct e. Tho Tho on close upon rtanIe
resented by +. NJ. Mcmillan OF the Universal
and Hyde Park Mutual Gas companies comes
n rumor 10 the effect that the negotiations were
being carried on in behalf Of the Chicago Gas
Company. A confidential telegram was re-
Ccivcd by one of the large brokerage houses TO-
day to the effect that the people interested in
Chicago Gas were back of the attempt to secure
control of thesoot wo competing companies. and
that Il strong hull pool has been formed for the
purpose Of eventually forcing Chicago Gas stock
to Il point well above any quotation so far
made.
Mr.. Mcmillan. who is carrying on the nego-
t~iatiOns. and who is said to represent interests
in Amsterdam. Holland. is said to have been
backed by Roswell y. Flower in n number OF
his schemes for the control Of gas plants in diff
fcrcnt cities OF the country. 1t is said Mr..
Flower l. the principal mover in the present
the deal through another person. This story
received confirmation in Chicago from the
President OF one OF the largest banks OF the
civ. This bank President said he had absolute
proof that the Chicago Gas Company would he
found to be the owner OF the Universal and
Hyde PARK Mutual Gas companies II the present
negotiations were successfully carried through.
If this story Is true, il will be carrying ont the
prediction which has often heen made that the
Gas Trust intended controlling absolutely the
gas field in Chicago. Officers and stockholders
of the Universal deny the story that the Chi
Cago Gas Trust Is carrying on the negotiations.
They say offers We're received from the trust,
from people who are i'll no way interested in the
Chicago Gas Company. There was also n rl-
NOR, apparently well founded. to the effect that
the same syndicate was after the Ogden Gas
Comparr and that the trust would soon con-
troll the gas field in Chicago. Equally positive
They say they are in the field to stay and that
the company Is not tor sale.