New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-12
BAY STATE GAS DROPPED.
NETWORK AND BOSTON EXCHANGES
SHIT IT OUT.

WITHOUT 4 LOCAL TRANSFER AGENT
HERE FARMERS LOAN AND
IS TRUST COMPANY SEWERS
II RELATIONS WITH THE
ADDICKs CONCERN.
Roth the New-York and Boston Stock Ex-
changes Yesterday dropped the Bay state Gas
Company's stock from their respective lists.
Raw state Gas. OF Delaware. has capital stock
OF s1OOOOOO00 and a charter Little else IS
known about it's alleged properties and assets.
Secretary Ely of the Stock Exchange issued
the following notices:
+ "Tbe Committee on Securities rules that all
contracts in Bay State Gas Company OF DeIa-
ware. stock made prior to - o'clock on March
IL 1890 must be settled with certificates regis
tered by the Farmers Loan and Trust Com
pany. of New York prior to this date
Trading in Bay State Gas Company, OF pea-
ware stock will be discontinued at the close of
business to-day and thereafter"
f This action was.taken by the. New-York Stock
Exchange upon receipt Of the news that Pres-
dent J. Edward Addicks of the Bay state Gas
Company had given notice to the Farmers
Loan and Trust Company that that corporation
would not be requiredto act as registrar Tor the
gas company after yesterday The company
being without a local transfer agent the STOCK
Exchange struck the stock from its list, in com
n,iance with the following provision OF its con-
stitution:
( "The Stock Exchange will not call or deal IN
any active speculative stocks Of any company 4
registry of whose stock is not kept in some re
sponsible bank trust company or other saus-
factory agents and which shall not give puphc
notice at the time of establishing such registry
of the number Of shares so intrusted to be regis
tered"
No information was obtainabe at the office OF
the Farmers Loan and Trust Company beyond
a confirmation of the statement That IL hau
severed its relations with the gas company.
Several weeks ago the Bay state Gas com
pany increased it's capital stock from S1oVooOJo
20 slOOOOOOOO and applied for the admission
Of the additional S5OOOC00O to the unlisted
securities department of the New-York Stock
Exchange. No action the application was
taken by the Committee on Unlisted Securities
and il was reported in Wall Street that the
request while not formally refused would be
pigeon holed There were threats at the time
that the company would withdraw its 500
O0OoO already on the Stock Exchanges list II
the other S50OO0CO0 were not admitted TO
listing The stock will in future be deait III Oh
the curb" or outside market, IN Bloau-SI
When the capital was doubled recently II was
said that the move was in the interest Of big
combination OF copper companies Mh'h te-
signed 10 operate under the Bay state Gas
Company's charter. which instrument has I'M
usually liberal powers. The stock has been
above 30 and as low as ~. Last DECEMBER II
had advanced To 9is but for the last week or
so il has ranged around ~. The total sales OF
Bay State Gas for last week aggregated aDout
10000 shares. Of which 50GN were Geau III
Yesterday The lowest quotation yesterday was
%. and the close was 112
Boston March 1l.-By vote Of the Governing
Committee Of the Boston stock Exchange the
stock of the Bay State Gas Company, OF Della
ware was dropped to-day from the unlisted de-
partment The members OF the Exchange nave
been Informed that trading therein on the hoor
OF the Exchange is prohibited after the ciOsc
of business to-day This step is the result OF
similar action taken by the newborn oIUch
Txchanre Fifty million dollars worth of Bay
state Gas stock had been listed on the EXchanse
here II is stated here that the COMPANY mas
closed it's New-York transfer office. The trans
fer office in Boston has not been closed