The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-03-16
MILLIONS IN GAS.
Big Row Over Bay State Or
ganization Delawareans
in ChaneePy.

The annual meeting of the stockholders
and election of directors of the Bay State
Gas Company was advertised to take
place this morning. Some of the stock
holders met, but they adjourned without
transacting any business.
The probable cause of this was the
granting of preliminary injunction on
behalf Of the Bay State Gas Company OF
Delaware by Vice Chancellor Emery at
Newark yesterday, restraining the Bay
State Gas Company of New Jersey from
receiving any votes of stockholders at
the election for directors, which was to
have taken place today. The injunction
further restrained the designation OF any
person for officers or directors of the Bos-
ton Gas Light Company, the South Bos-
ton Gas Light Company and the Bay
State Gas Company of Massachusetts,
without written authority of the COM
plainant 1t also restraints any proxies
held by the Mercantile Trust Company OF
New York from being voted.
The rule to show cause was returnable
in this city today. 1t had not been ar
gued up to the time 1.-THE News" went
to press. It's obtaining is the result OF
DISPUTE between directors and trustees,
which involves ss12, ,OOOo 600 in bonds. The
Bay State Gas Company of Delaware
sets forth in the bill filed yesterday that
if was organized under the authority of
the Delaware Legislature in 1889 to take
control of the Boston companies lheSe
furnish Boston and adjacent towns WIN
gas. =; .,,o1,
j. Edward Addicks manipulated IN such
a wav as to delay the company in get
fling It's charter through the Legislature,
and the Bay State Gas Company OF New
Jersey was organized by the same e,[ pafties ne
charter was secured which occurred IN
April, 1889.
Meanwhile the Boston shares Were
purchased by the New Jersey Company.
To raise the purchase price OF these !ie lne
stock was pledged with the Mercantile
Trust Company of New York tor an IS
paid by the Boston stock has been pa;ld a;
ffhe Mercantile Trust Company to pay IN
terest on these bonds.
The Bay State Gas company o. Dgla- aa1,
ware purchased the stock of the New
Jersey company in August. 1883, paying @
for the $3.50 shares transferred $1,000 IN
cash and ST. 995, 900 in stock. The bonds
issued asop at the nfea fs Gas bonds noM 0~A
The power of designating directors IS
the only way of managing the property,
it is claimed in the bill, and those who
hold that power control the business.
Henry H. Rogers. John G.. Moore and
Frederick w. Mitridge the trustees
under the bond agreement, have, with
Fl. Fl. Rogers, Francis @. Barstow and
John Bushnell, directors, demanded from
the Mercantile Trust Company proxies
90 a 8 to vote the stock tomorrow in such
manner that they will obtain control
of it.
1t is also asked in the bill, besides the
dicks and James G. Shaw, who are di-
rectors have not been allowed to see
the stock transfer books of the companies
I-on demand
1t is also claimed that Rogers holding
stock and bonds of the companies to the
amount of 0,00O, has entered into an
agreement with rival concern, the New
England Gas and Coke Company, to turn
Isoyer to it So 100000 worth of stocks and
bonds of the companies, and also the
proxy vote of the Mercantile Trust Com
pany. which would give the rival con-
cern control andsresuH in shutting off the
dividends of the Boston company.
1t is also aske in the bill, besides the
Injunction, that certain transfers of stock
by the New Jersey company may be de-
clared void, and that the stock be ad-
Judged to belong to the Bay State Gas
Company of Delaware. the complainant.
This matter will come upon final hear
ing The injunction was made returnable
next Monday at Jersey City.