New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-07
SAGE AGAINST GAS WAR.
RI7,fOR THAT HE HAD DECIDED ~
SELL STANDARD HOLDINGS
CUSTOMERS OF THE COMPANY. HE SAYS
WILL BE PRoTEcTED-A NEW Ehh-
MENT IN THE FIGHT THAT MAY
INVOLVE ELEcTRIC-LIGHT

COMPANIES.

COMPANIES
II was rumored yesterday tha' huSse" s"e
had decided to sell out his stock IN the ''a "
Gas Light Company When reporters cN''' ".
hin, early in the day he would not see t'e' ~
iii, IN bis office said that Mr.. sage had
Instructed him to give out the following s'a'e
ment: 49,
Az representing the controlling interest N e dre
stock Of the Standard Gas LsnI No SUGGESTION or
offer OF compromise from any OF Vie or Indirect
Panes and have s sTsseson or offer along this
line from any OF the other interests, " Is on we
,li nurse the even tenor of our way
and unmoved by any threats OF
ated by other Interested pa''eS'
Mr. Sage was quoted as saying later IN tne
dov that he had frequently been asked TO sei'
hts gas stock. but had always declined ne
dorrecated the rate-cutting now going on anu
o,sor,ad that gas could not be sold at prom
Gov IN cents or even 60 cents. thousand lee''
~ thouebt the warning companies would sooh
ho forcad to come to an agreement on rates
though a Gas Trust controlling the "ho'e wy
he considered impossbiiity.
NEW DEVELOPMENT IN THE FIGHT.
r,a ros,t,ve announcement that controlling
interest In the United Electric Light ana rover
whitney Brady Ryan syndicate, introduces
,,o,, e,anant into the gas war and lends Color
o. .ha renort that the fight will resolve tseil
,rto a hattie royal between the electric-hght ana
en- gas companies An official OF the united
t,,actric Light and Power Company VINO was
econ Of the company's office. No. 1OS Fulton-s'''
Yesterday confirmed the report that IL hau
changed hands but the identity OF the pui
chasers he said. he could not oisc'ose "' '''''
time. $500. - royar Com
many succeeded the United States liiuminalins
Company It's wires run underground al w. Va
the city from the Battery TO tns ma DIR BIZ II
from the East River to the Hudson River; \.
hos Capitalization Of S11. 100000 OF when
50 600 600 is preferred stock s4,UVuUU Soi .
mon stock. and S5OO0ooo ponos ,d nme Einctrc
was controlled by the Westinghouse Electi !!
COMPANY George Westinghouse. IT, Is saIu "
have closed the deal just before MS departure
for Europe last WEDNESDAY co. Cor,.
At the office Of the Consolidated Gas NoIn
many II was denied that Consolidated interests
had bought United Electric.
SMALL HOLDERS NOT FRIGHTENED
Small holders Of gas stock, it appears. are not
allowing themselves to be scared by the war
into narting with their shares to any great
extent. They seem TO think that strong COM
bInation is near at hand which will make their
property more valuable than ever.
Although practically every other stock on the
list declined yesterday. Consolidated Gas ad-
vanced sharply on rumors that the gas war
was near its end. Opening at lS3 q points
above Fridays close). it rose to 1873 max
imum gain OF IL points, and closed at III, a
net advance for the day OF 10 per cent me
other Gas stocks which are traded in "on the
curb" were also stronger New-Amsterdam
common closing at 80 bid. 81 asked. against 34la
and 35b on Friday and Standard closing at
125 bid. 135 asked. as compared with 10 bid
and $50 asked on Friday.