The daily morning journal and courier., 1899-12-06

| Electric Light company, me brAuS s
 port Illuminating Company and Va | rious Other Smaller Organizations | The New Haven Gas Company Not ii the Deal Has Received No Propositio 0 Il What Leaders In the New Project | Say.
 The United Illuminating company which was incorporated by the state legislature last spring is about ready to develop it's plans which are of an important character. This company is
 by virtue of charter issued by the last general assembly authorized to acquire
 by purchase or consolidation any other
 companies organized or existing to
 furnish light, heat or power, or oper-
 ating street railroads and has been
 duly organized in this city, with paid
 up capital of $200,000.
 The incorporators are James English,
 president of the New Haven Electric
 Light company; Attorney John w. Al
 ling and II. c. Warren, the banker
 The United Illuminating company
 llOW OWLS d JildJollty OI- lllC 7loSiN DH
 the Stratford Gas company and Electric
 company and the West Haven Power
 company.
 The company will shortly take over
 the properties of the New Haven Elec- trio Light company, the Bridgeport Electric Light company, the Bridge port Illuminating company, the Strat- ford Gas and Electric company, and the West Haven Power company. In a short time the United Illuminating company will take over other compan- ies of like nature, if deemed exped- tent. This deal, as will be seen, Is a notable one in New Haven financial op- erations. A statement has been made in one of the papers that the company meditates the absorption of the New Haven Gas Light company's stock as we'll The financial importance of the Gas company as a corporation, and as one of New Haven's most noted indus tries would make it's acquisition, of course, very desirable for the illumin- ating company, but TO steps have been taken in that direction. On enquiry at the Gas companys office yesterday af- ternoon the president of the company, A. w. DeForest was found. MT. De- Forest stated that the company had received no proposition for the acqui- sition of the company's plant by the company. Tho report that such was the case was erroneous. The gas company, MT DeForest added l has just had its regular meeting of directors yesterday afternoon and the l subject was not even mentioned. All of the directors, T. A. Barnes excepted, | were present at the meeting. Only | routine business was transacted, in- cluding ordering the calling of the an nual meeting, which comes early in | January. The regular quarterly divi- | dend was also declared payable Janu ary 1. Further than this nq business was transacted. Mir. Wild, treasurer of | the company, also stated that if there | was anything in the wind regarding a | of the kind it had not | reached the gas company's office and | therefore it was not likely to excite at- Tention there, nor call for any action.
 The deal of the Illuminating company | includes a proposition to consolidate whose combined capital | stock is over a million and half. The -erms of the deal are not yet given out sor publication, nor the basis on which he transfer of stock is to be made. No | ice of the proposed consolidation will each the various stockholders this af ernoon, and will then be given out for 
 President English said yesterday af- ernoon that the management thought f 111o tn ct al nf tp val ri l that they be notified first in he matter before the full announce nent is given in the press
 Mr. Warren, of the incorporators, when seen yesterday afternoon said hat the deal was one to be made on ust and equitable basis in which the would get the benefit of whatever benefits should appear in the It was straightforward bove- board business deal proposed for he better operation of the various
 ants in the combine. There were no profits in the case. What yer benefits ensued would inure to all he stockholders pro rata. It was not
 combination like many that have cen brought out in the country in the ast year, where promoters or organiZ- rs reaped large sums. It was a case yhere the stockholders would get what in it, if anything pans out. As MT. ,nglish said the notice as to .the pro- osed consolidation would reach the to-day Until that is done
 was preferred not to give the facts l detail to the public at large. As to ne project to include the New Haven
 Al J..1. Warren said, the United Illuminating 1mpany would not be at all averse to that project also, but the company would pay no ,ncy price in the caee, but would take le plant provided it could be bought at
 price which would carry it satisfac- ,rily When enquired of as to the Test Haven Power company, MT War m said that was simply a chartered ght which had never been developed,
 was charter for establishing an ectric lighting plant in West Haven. Mf. Warren further said that aI- tough the capital stock of the com- my is only $200,000. it's charter allows
 it's increase to any amount necessa- The new combination will be home rporation, owned by local capital, amazed by local men, under char r of the state.