Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-05-17
HOLDERS OF GAS STOCK
Adjourned Meeting Of Those Opposed to the
Projected Sals
Report Made by the Committee Ap-
pointed to Make Inquiry-Other
Business Transacted.

An adjourned meeting of such stockhold-
ers of the Washington Gas Company as are
opposed to the terms of purchase offered
In what is known as the Mclean circular -
was held this afternoon at the Ebbitt
House. The committee appointed at the
meeting held on Saturday last, through the
chairman, Mr.. Francis A. Richardson, made
the following report:
Your committee, in compliance with
your instructions, called upon the president
and the resident directors of the Washing
ton Gas Company, whose names We're APP
pended to the circular of April "A. They
We're furnished with the information called
Tor in your resolution, and they regard it
as due to the gentlemen concerned to say
that MessTs. Mclean, Rodgers and Orme
showed every disposition to communicate
all the facts in their possession in reference
to the proposed purchase.
In the matter Of the passing of the Nav
dividend Mr. Mclean stated that the propo-
sition to purchase at $50 per share carried
with it the stipulation that all the assets,
cash and otherwise, accruing since the pay
ment OF the last dividend in February,
should be included. The gentlemen repre-
Sehtlng the proposed purchasers were Mr..
norman, MI Young and Mr.. AuerbaCh Mr.
Mclean stated that he was ignorant of the
names OF their associates or PRINCIPALS
ne money to pay the May dividend is
III the treasury. 1t is said the deal as it
is called, has failed. but whether so or NOT
IL can nave no effect upon the rights of the
StockhoIders here present. Mr.. Mclean,
MT. Rodgers and Mr.. Orme all Informed us
that they had considered in every stage of
the negotiations the interest of the stock
holders. We were also informed by each of
them that he had passed in his own hold
ings."
In concluding the report Mr. Richard
son stated that, having performed the duty
Whlch mad been assigned to them. they
reported the results without comment as
they did not consider the latter came with
in their province
The report was then adopted without a
dissenting vote. Mr.. Gribbell Of Phladel-
phia, stakeholder VINO has interested
himself in this matter, said it appeared
as far as this meeting was concerned the
AFFAIR was closed. He said he had learned
that at the Fourth Street Bank in Phila-
delphia, where the stock of those wishing
to sell was to be deposited the proposed
plan of sale had been declared inoperative
lie had also been informed that a meeting
OF the directors of the gas company would
be held Monday next, and the general i'm
preston was that at that time the regular
dividend OF the company would be declared
He said that the only thing left for the
stockhoiders to do now was to let the mat
ter drop He added that the stockholders
remain in possession of their property, and
that Is what they wished to do. He thought
the directors acted properly In submitting
TO the stockholders the offer made for the
purchase of the stock and that the stock
holders did wisely in refusing to sell
lie advised those present to pay no at
tention to the stock market reports Gas
STOCK, he added was not speculative
security. For himself he had bought if
and laid it away for those who are 10 come
after him. He believed that 1t is too good
stock to sell at even $50 per share He
went on to say that in his opinion the di-
rectors need to come in for no criticism.
The fact that the majority of the stock
holders did not agree with them was no
cause, he thought for feeling against them.
Upon the conclusion of Mr.. GribbeTs re-
marks and upon motion of Mr. Richardson
the meeting adjourn ed sine die. MIR. w W
Burdette presided and Mr.. James l.. Bar
bOur was the secretary.