The sun., 1898-12-16
GIGANTIC COMBINE FORMED
Preliminary Plans Laid for the
Pooling Of Interests to Fur
nish Light.
MANY COMPANIES INVOLVED
The Pennsylvania Light, Heat and
Power Company, Which il Max
ing a Deal for Wilmington
City Electric Company, Said
to be Interested.

Z In the city of Philadelphia yesterday
were laid preliminary plans for the for.
nation of powerful combine to control
the street lighting business now in the
hands of private companies, all over the
United States, east OF the Mississippi
river.
This deal will affect seven companies
now controlled by the Pennsylvania
Globe Gas Light Company, the controll-
ing stock Of which is owned by United
Gas Improvement interests; and the Kit
son Incandescent Gas Light Company of
Philadelphia.
The capitalization will be $l2, 900, 900
and the gigantic combine will go into ef-
feet on January !, next.
The Pennsylvania Globe is now operat-
ing all over Pennsylvania, New Jersey,
Delaware, Maryland and other states.
The New York Company has 5000 lamps
in operation in New York City, and the
other companies operate plants in the
cities where they are located.
The Pennsylvania Heat, Light and
Power Company, which has been ne
gotiating for the purchase Of controlling
Interest in the Wilmington City Electric
Company, it is stated, is supposed to be
controlled by the Pennsylvania Globe
Company.
Although some OF the directors OF the
Wilmington company deny that a sale
had taken place, there is very little doubt
but that the deal is pending, even If it
had not vet been consummated.
The companies involved are the fol-
lowing companies controlled by the
Pennsylvania Globe and Gas Light Com
pany; the Welsbach Street Lighting
Company, Of Chicago; the New York and
New jersey Globe and Gas Light Com
pany, of New York; the Chicago Globe
and Gas Light Company, Of Chicago; the
Canton Globe and Gas Company, of
Canton, O.; the Pennsylvania Globe and
Gas Light Company, and two other
companies not yet named, one of which
is supposed to be the Pennsylvania
Heat, Light and Power Company and
also the Kitscn Incandescent Gas Light
Company
The deal will carry with it four large
factories, owned by the Kitson, the
Pennsylvania Globe, and the Chicago
Globe, and will cover the operation of
60, 900 lights in different cities, which
will shortly be increased by a contract
for 5O,OOl lights which the Kitson Com
pany is about 10 close. The Welsbach
Company has the exclusive right to fur
nish street lighting with Welsbach
lights, and now operates its system in
fifty different cities.
George W. Elkins will be the president
of the new company, and it is probable
that Edward @. Lee, treasurer of the
United Gas Improvement Company, will
be the treasurer. The persons who are
most talked about as probable directors
are Thomas Dolan, Samuel T. Bodine, 2.
A. B. Widener, and William L. Elkins,
all of whom. will represent the seven
companies controlled by the United Gas
Improvement interests, and George D.
Widener. Arthur Kitson, George W.
Elkins, and Michael Ehret, Jr., all Of
whom will represent the Kitson inter-
ests.
The capital stock Of $l2, 900, 900 will be
divided into Sc, OOO, 600 preferred non. Gu
mulative stock and $4,000, 900 common.
It is understood that S., 5,OOO,OO0 prefer
red and one half the common goes to the
United Gas Improvement Company, as
owners of the Pennsylvania Globe Com
pany, and its allied interests involved in
the deal.
The Kitson Company, in exchange for
its present So, 900, 900 stock, gets S3OOO,-
600 common stock in the new company.
There will be issued $4OO,O preferred
to cover cash in the treasures of the two
companies, and the remaining 100000
preferred remains in the treasury
| The Pennsylvania Globe Company is
represented to be earning over $500, 600
net, per annum, or more than the
amount of the new preferred dividend
requirements. m