The sun., 1899-04-26
SARATOGA SPRINGS TRUST.
IT'S PROPOSED TO BUILD A SANTA
RUM IN A GREAT PARK.

Options Secured Already on Nearly All the
Principal sprinEs-Proprietors Inclined
to Put On Pretty steep Prices - Car
bonic Acid Gas as Profitable Product.
The latest possibility In the way OF trusts is
the spring water trust. A syndicate has been
formed for the purpose OF acquiring all the
principal mineral spring properties In Sara
toRa and running them under one ompany. TO
be known as the Consolidated Mineral Springs
Com panv OF Saratoga Springs. The banking
firm OF Thomas 4 Post. n Broadway. the senior
member OF which 10 the son OF Gen. Sam
Thomas. undertook TO underwrite the bonds OF
the company.
The scheme 10 not fully matured. for the rea-
son that two OF the principal epring compa-
MES. the Vichy and the Patterson. have thus
far refused tn give options on their properties
to the proposed new company. The syndicate
has. however. secured options on the proper
ties of the Gevser. Hathorn. Congress. Em-
pire. Kissengen. Lincoln. Victoria. Champion.
Carlsbad. Excelsior. Red. High Rock. Mag
netc. Royal. I'm mperial. Pavilion. United States.
Hamilton. Columbian. Washington and sew
eral other Saratoga spring companies. These
options continue until May IA. until which
time the prices on the properties fixed by the
present owners may be accepted or the syndi-
1t was said yesterday that the greatest diff
Guilty in carrying through the deal is occa-
stoned by the abnormally. high valuations
which the spring owners put upon their prop
critics. Many of the spring owners are very
independent about the matter. and they have
the properties at the values named in the op-
tions or leave them alone. 1t is understood
that the, syndicate Is willing to take all the
premium basis. That is. II the owners of the
properties. will Ok valuations. based upon the
six years.as shown by the books OF each spring.
the syndicate will take the properties at an
Of 10 per cent on th9se h san4ns
Springs are consolidated In one company the
value Of each property to the new company
instead of 10 per cont To this proposition
the syndicate says to the spring owners;
Come In on reasonable terms or fight the
II the scheme goes through the new CON-
nany, will be Incorporated Immediately. with
Carlsbad The erection of big sanitarium
Is contemplated. where the waters must be
taken according to the prescription o. attend
contemplated to turn the valley in which the
nrincipnl springs are, into great Dark; 81
be part IL this plan Is carried out park
about seven miles. long ond about mile wide
spring on the south TO the Excelsior spring
on the north. passing right through the centre
The sale OF the waters in bottles and in bar
res will DO pushed. and. besides. a compara-
lively new industry will be developed. This
new industry is the collecting in cylinders
under pressure Of the natural carbonic acid
gas from the springs for commercial use.
This Is now done at Saratoga to a limited ex-
tent. Carbonic acid gas is cheaply made. but
i has been found that the natural product OF
the Saratoga springs can be sold cheaper than
hind the syndicate have employed experts to
look into the possibilities OF this industry at
Saratoga. and the experts have expressed the
opinion that practically all the carbonic acid
gas used In this country can be obtained from
the waste OF the Saratoga springs.
The underwriters are not giving out much
information concerning the scheme. All they
will say is that the capitalists whom they re
resent are ready to acquire all the springs at
Saratoga on reasonable terms and that those
which cannot he acquired on such terms must
so It alone. 1t is understood that for the
properties acquired, the syndicate. in most
instances will nay half in cash and half in
the bonds Of the new company. Several men
promi inent in finance In New York were men.
toned yesterday as being included In the svn,
dictate. but no one in position to know would
affirm or deny their connection with It.