New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-11
Nr IS WHITNEY'S COMPANY.
ixnur ON THE MYSTERY ,oF THD
i $25.O0oOOo CORPORATION.

hnsHr ON THE MYSTERY !oF THE
$26Oo0Oo0 CORPORATION.
lSoM .. cHnnmSs CONFIRMS rHn xuAo@ THAT
xEu WHITNEY SYNDICATE WAS rTs PRO
xorrR-vAsr POSSIBILITIES or
CONSOLIDATION.
:Dx44y tn oUeober the New-York o~s and Electric
Gtaxht Heat and Power Company. was Incorporated
ns Albany with capital OF SIS 10000 Its ob5ecs~ere
utsted to be the manufacture OF gas and electricity
for xeneral purposes IN the territory OF New~York
p<aty; and It received the right to purchase ana
hold the stocks and bonds OF any foreign or 90
Lueetio corporation and exchange therefor It's own
stock. and bonds The incorporates were severai
young New-York lawyers. and the secret OF inc
identity Of the principals for whom they were ao'-
ing has been closely guarded. although specoia
don has at various times connected several Ni'-
portant financial interests with the Dig cofpoi" ~
+1on The r,mor TO which most credence has az
cached has all along had It that William C "hi'-
ney and his associates in the control OF tho Meuo-
potan Street Railway Company were 'he me"
Neh!nd the $25 10000 company. and This rumor mas
b.en confirmed by John d. Crinmins. WHOSE re-
,a,,on. with the Whitney syndicate have been more
or less intimate Mr.. Crimmlns is quoted as saying
Mr. Whitney and his associates have been work
<,g on The scheme for several months A year ago
suggested the tremendous farites of the
o,eo "A few months after his return from the
south be took bs up M ths %Sf,
It the only company thas 1 fn Igbtng the
suhways ard i had IT wa sO owned BY the
,Ottendorfers Shearmans Smiths ano M 49, en-
hney only two a %0n as b sfo the
the s2 900 600 company which is M does not come
from Mr. Whitney. but from knowledge OF 'he'e
After the Mount Morris other companies were We're
ecoured quietiy-the Manhattan and the E ,DsTn
Electric Iliuminstns Company me ony franahse
FOR turnshng sh heat and PoTer ia, t. the coMso
anshouse Electric COMPANY wh1 Pt ne control Of
electric facilities by Mr. Whitney ana m,5 he time
sSsS ACQUIRED the Mount Morris Company the En-
pre subway Company, which oelcngsa s hem
The control OF ali the subways and II the tssv
dnghouse people wished TO put GOWN ""e' NV
sEould have 10 pay $1,000 a mile
NO CONNECTION WITH 1T
rrvse,, have no connection with the scheme
having sold out my interest some tune ago
%eva No. seen Mr. Whitney for long time SO
mat don't know his personal views on inc SUD
Aeet The syndicate Will sell only electr'ca po"e
and not the gas as was reported
Tine METROPOLITAN Street Railway Company may
nv LEGISLATION secure the right 10 use the suo-
ways controlled by the syndicate OUT a. p'e'
ant II has such right -,
do not believe personally. that electricity Will
.xer successfully I'll the place OF gas Inc cos'
at tubing and fitting Is too great Inc ino'"''
~ very apt TO get out of order
The New-York Gas and Electric Light heat ana
-powsr Company has no franchise, and II is sur
missed that II may be intended TO occupy the same
relaton to the electric light companies IN inns
s,orough as that which the Brooklyn Kappa TRANSIT
Company occupies in the trolley field. that coipo'a
ZION having been organized for controlling various
vtrsst railway properties in Brooklyn through
Ownership OF stock and not being an operating
company One OF the most persistent reports re-
harding the New-York Gas and Electric Light neat
and Power Company has been that 1t would ouy i's
mower from the Metropolitan Street Railway COM
pany the conduits which the latter are laying being
declared 10 be large enough to enable electric light
wires 70 be placed IN them, as well as the wires
necessary for conducting the power for under
ground trolley lines. But these reports have been
repeatedly denied by President Vreeland and othef
men connected with the Metropolitan, who have
asserted that they had and would have no electric
mower TO sell and would conhne their operations
solely to the running Of their trolley roads.
1t may be that the plans Of the men behind this
oSHsoiiGs ton Of the electric lighting interests Of
this borough. One theory which FOUND InanySa .
nected II with the projects Of Ex-Governor Flower
and his associates in The electrical field IN Brook
iVn. Several weeks before the New-York Gas and
Electric Light Heat and Power Company was IN.
corporated the Kings County Electric Light and
Pnwer COMPANY secured control, by purchase Of
It's stock OF the Edison Electric Illuminating CoHl-
PAM Of Brooklyn through that purchase obtaining
business Of that borough. The chief interests In
the Kings County Electric Light and Power Com,
pany are Ex-Governor Flower, Mr.. Anthony and
their business associates who are also inc ieaoas
1nen IN the Brooklyn Rapid Transit Company
REPORTED PLAN OF THE SYNDICATE
From time to time 1t has been reported that plans
were under consideration for consolidation OF all
the surface and elevated roads in Brooklyn, but
nothing has come Of them Now, however the
apid Transit Company Is generally believed 10
have secured control OF the Nassau trolley system,
for which II has been negotiating; and IT Is said
That its representatives have within the last Few
months again made careful inspection Of the e!e-
waited roads of Brooklyn with view to the pu[-
Ths result OF such purchase would be the practical
amalga nation of the electric NShtlnS aiO ira
interests OF the Borough Of Brooklyn The Kings
County Company already sells some power to tn. the
elevated roads and with is ACQUISITION OF tno s
lines it is regarded likely that they would 90
speediIy equipped with electricity. the Kings
County Electric Light and Power company sup i,
ang the power for both traction ana iiuh t nc
purposes throughout the borough from rev vs pig
eentral power-ho like the one Iecen'y eieoea
nv the Edison company near Bay Rldee IL.
the rlmor connecting the Flower syndicate with
ehe NewYork Gas and Eieclrlc Lsnt Win the
nHr.hase OF the Mount Morris Electric Company.
Sinate has bought and went Oh to hazard the
opinion that the taking oyer OF the Mount MOTIFS
GATES yesterday denied be fact as well as de-
nying all knowledge OF ne ss and Electric Lght
Heat and Power Company-was the hrsJ step IN an
sndeayor no e Sombany Of Hew-York which
total authorized issue OF 81 10000 stock ana $lo-
CO. So bonds Messrs Flower and Brady, and their
friends. are large holders Of stock in the Metro
nolttan Street Railway Company, and IN tIls era
~ enormous business combinations IL is not beyond
The bounds of possibility TO imagine that they may
al some time not far distant join interests WIN
1he whitney syndicate assuming that the latter
:. The '125 0n 90 company" and that 1t has secured
+ba Edison company OF New York-in tremendous
consolidation OF the electric lighting and trans
portation business Of Brooklyn. and the electric
Eghting and most Of the surface traction business
of the Borough OF Manhattan
ksCARTNEY READY FOR A STORM.