The times., 1898-11-17
ELECTRIC LIGHT COMPANIES.
Run.ors That n Combination In Abont
To he Effected.

RunOrs That n Combination In AbOnt
to he Effected.
The purchase OF between 1000 and 1906
shares of stock, previous to the election
for new board of directors of the United
States Electric @ILighting Company at
Harper's Ferry on the 9th OF November.
has st goodl many tongues wagging
as to what it means. New York parties
have been charged or credited with the
ransaction. but all efforts to locate the
responsible persons have failed. Mr..
Mearns, of Lewis Johnson & Co, took
IN most of the stock bought and has been
elected one of the new directors. SO. too, has
Mr.. Walter Heiston and another broker
but who are behind them or whom they
represent is as much a mystery as ever.
Mr.. Mearns will not talk further than TO
say he is not buying any more, having
executed his commission.
Mr.. Stilson Hutchins, who was also a
considerable buyer last week and before.
is equally reticent When asked if he
knew anything of any movement TO buy
up the two companies-the United States
and Potomac-and combine them, Mr..
Hutchins replied that he did not. The
business of the two companies. he said.
was almost entirely separate. They only
touched at "A few points, which resulted
In reduced prices from the competition,
but the amount involved was too small
TO incite a combination.
The new United States plant was prob
ably the finest and most economical in
the country, and. as the city grew, would
meet all requirements. Still. when run
ming with not more than "A third load IL
could not pay more than 8 per cent TO
Its shareholders, II 1t did even that. To
yoke up with the Potomac Company
would not help matters much from a
saving point of view and he did not be-
lieve IL was contemplated. Still, he
knew nothing about II.
The report that the late furry In gas
stock had some connection with the cleo
trio light stock movement is also denied,
although asserted 10 be true by a specu-
lative evening Journal. Under the stimu-
lus of the report gas stock rose TO nearly
50, but has since dropped back to 40. at
which price IL is only about I per cent
stock.
There is a better authenticated rumor
that some strong men are contemplating
applying to Congress this Winter for a
charter which will permit them to lay
down both gas and electric light mains
in one conduit on the promise of fur
nishing both kinds of light at a greatly
reduced rate. The friends of Capt. A. A.
Thomas, who has given ten years OF very
active work TO build up the United States
Electric Lighting Company, are indig-
nant that he should have been elected
from the control of its affairs by a
thousand shares of stock, the voting
power of which was obtained, as they
say, by misrepresentation and lying.
Another thing. they say, is unbearable
Not one OF Mr.. Thomass friends was
Put on a committee or In any RESPONSE
BILE place. although they own fully
four-tenths of the stock capital, while
the holders of less than one-tenth were
given the entire control
Since the election the price Of United
States Electric stock has dropped from
121 to lis. at which price fifty shares
were sold on the board Tuesday
The Potomac stock is not listed. hence
IL there was any dealing in 1t. it would
necessarily be private.
Mr.. Crosby. of the Potomac Company.
made the s same statement as Mr.
Hutchins relative to any combination OF
the companies-that he knew of no such
plan and did not believe that any existed.