The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-21
CLUB TO SETTLE GAS WAR.
USED, IRIS SAID, ON 4. NJ BRADx
WITH CONSOLIDATION TO CONE
Smash In Brooklyn Rapid Transit Followed
by Reports That Obstacles to n Settle
ment VIII Presently lie Overoome-B.
Il. T. All Right, It's Executive Oniosrs Say.

bmHtn III bTOOkINn
by Reports That Obstacles to n Settle
ment VIII Presently lie Ovsroome-B.
II. T. All Right, It's Executive Onosrs Say.
A meeting between representatives OF the
local gas companies is likely to be held to-day
which Wall Street expects will result In end
ing the gas war. Some preliminary con-
ferences were hold yesterday That such steps
were taken was looked upon as evidence that
the element in the New Am stcrdam Gas Conn
pany which has been largely responsible fol
tho delay OF settlement had changed Its posi-.
ton. IL ia understood that this element 10
Anthony n. Brady. the only director OF the
New Amsterdam Gas Company who at the re-
cent meeting OF that company at which the
nrice OF gas was restored to $1.10 voted
against the advance.
According to Wall Street reports yesterday
afternoon. Mr.. Brady's interests In the New
Amsterdam Gas Company have been acquired
by Conso idated Gas interests. Some reports
went SO far as to associate the smash which
took place yesterday In tho market price OF the
stock of the Brooklyn Rapid Transit Company
with efforts to compel a settlement OF the gas
war. The Consolidated Gas interests, which
are largely Standard OIL interests. are reported
to have been for some time bcarish on
Brooklyn Rapid Transit, stock In which
1t has boon generally believed Mr.. Brady
was largely interested. 1t was looked
upon in Wall Street yesterday az
significant that reports OF the probable near
sndpT 1T the Ss Iva Ga not in Sprrsn.
Brady's assent to u settlement OF the war. II
was stated. VAS essential. and as It could not
compulaion was applied. The terms VI the
settlement Of the gas war. II It Is arranged. Il
formation Of a new 6is Company 10 combine
Al the local gas companies, the secu rites OF
the constituent com panies substantially on the
boss Of their output.
was the feature OF % yesSTays ssosR marfes
md for. a time unsettled the entire list OF
stocks dealt In on the New York stock EI-
the asy sold at "a Vigorous attacks made
upon n" price a.resred % disotTs some
the price iTopped to 81 but TIT i rallied TO ssH a.
day. and net Gscs o ~ So :nSs
Dec, ! and decline q 7a points slpoe
We're we're iio.si5 shares. whlS the decline was
going on rumors circulated in Wall Street that
and nee 3 N pa
ae9p ,ha. refsyss TEad be for
existing basis on which an application Tor a
| floating debt. II Is meeting all its obligations.
1t has a large cash surplus In Its treasury. Its
| are NJ u very
! rate. II increased its earnings In November
| by 900 over that month Inst year and 90
| far this month Its earnings show an increase
OF S44OOU over last December"
William F. s1heehan. e92nnsei OF tse company.
author OF the receivership report. The Execu-
| tive Comm tee Of the company was In session
| at its regular meeting when the rumors ef-
footing the company were circulated The
| following statement was given out by the
| sent OF the commlt'ee:
| The brooklyn Rapid Transit system nov
| pany has available over Sl00QO,O00 assets 70
| meet all expenditures for future improve
| ments and rnlargemeuts, IL has appropriated
| during the last six months over S6OJ.OOO for
| that purpose from earnings IL has an ample
| cash balance In bank and has absolutely no
| floating debt The surplus earnings will
| hereafter be applicable for dividends on the
| stoskn