The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-04-28
GIGANTIC W COMPANY
ACQUISITIONS or THE BRADY WHIT
NEI-RIIN COMBINE.

1t Owns Pretty Much All the Electric Light,
Heat and Power Plant in the city Not
Controlled by the Third Avenue Kailrond
A Power House Next to Metropoiitan's.
A meeting OF the stockholders OF the New
York Gas and Electric Light. Heat and Power
Company. Familiarity known as the Whitney
Company. was held yesterday at the office Of
Beard 1ley n lIcmmcns. the company's attor-
neys. at "a Wall street. to elect off ,ers. After
the meeting Mr. Hemmena gave to n reporter
Of THE SuS some interesting Information
about the company.
Anthony y. Brady OF Albany was chosen
President and Thomas T.. Murray. who has
been the manager OF Mr.. Brady's electric light
interests in Albany for many years. was made
General Manager. The company does not
care to make public at present the names of
the other officers. IL Is announced. however.
that william G. Whitney and Thomas i. Ryan
will be associated with Mr.. Brady in tho gen
eral conduct OF the compcny's Affairs.
The capital stock OF the company at the time
of its incorporation was $685. 900. 900. In the
latter part OF February the stock was increased
TO $4,000 900. Since incorporation the COM
pany has acquired the following properties:
Practically the entire capital stock. or $1,000
shares. Of the Edison Electric Illuminating
Company OF New York $1,000 shares Of the
CdDltul SlOCh VI III lhOunJ lOTIl T.l6CtTlC
Light Company: 1000 shares. or all OF the
stock. OF the North River Electric Light and
Power Company. and S40O.0 900 Of tho bonds OF
this company: $3.50 shares OF the stock and
$4,000 OF the bonds Of the New York Heat.
Light and Power Company: 200 shares Of
the stock Of the Borough OF Manhattan Elec-
tric Company; $4,000 shares of the stock and
S4.225.00O OF bonds out OF a total issue OF
1880 shares Of stock and ST.. 10000 OF the
honda or thn Consolidated TnlpDrnnh and
Electrical Subway Company 4OO shares. or
the total capital stock, OF the Blsck Lighting
stock and S230.OOO OF the bonds Of the Man
haitian Lighting, COMPANY. being the entire
the entire capital stock and ali the bonds OF
the ionkers. Electric Light and Power Com
pany: rs well as half the subways OF the En-
pire City Subway Company.
The requirement of.these properties. the at
~torneys say, giyes.the new company the con-
troll OF. the electric light. heat and power bust.
he United Electric Light and Power Company.
have BEEN nn asTair prpP By the ' Tnird A9 fepEe'fEa aiiiC.
the. nnrchase, Of the Consolidated Telegraph
and Electrical subway Company and the Edi-
son Company furnish the conduits through
which, the new company's power will be trans
= The.company's p~roperty ia covered:by q first
mortgage Of Sl5.OOO.OOO to the State Trust
G m6T,gnrs as of t rvs Saii 1na t ty 2 ib pu C E mT2 4nsf
recorded on Feb, p and the purchase. mort
gage. the proceeds from whic will pay for the
Edison COMPANY. was recorded OIL Wednesday.
The. mortgages secure the 81 .OOO gold bonds
OF the company. which bear interest at 4 per
cent. payable in February and August.
Tho new company is now operating all the
properties it has ar1uired, Ihe work Of ron-
abandoning some plants and reducing the cost
OF, production and transmission Will he under,
cover a block Of real estate between the East
River. First avenue. .Ninety-siXth and Ninety;
i iSSsri res ssre F. Kane ne 1n ' Te%' r.. i4a D"f it prnsi
ticallv adioins the property upon which the
Metropolitm Street hallway Company is build
ing its gleat'power house. No definite state
ment has been made about this. bur it is un-
d%erstood that the new COMPANY will erect on
the largest and finest plant of It's kim in the
world. Al present the principal bower house
Edison COMPANY in Duane street.
The history .Gf the formation Of The New
York Gas and Electric Light. Heat and Power
COMPANY is not undressing The idea Of
forming such II COMPANY was conceived 10y Mr..
Brady two years ago. and. he has been working
DAYS. with other days. thrown in. Not even
his mos, Intimate associates knew what he. was
doing Finally; When he had The whole thing
20 have NJ. whitney. Mr., RYAN and the Metro
politan street Hallway interests allied with
men. They l'keh it and said they would nut
their money INTO i. and would do wllatever
after. another. When i cam" to the Mount
Morris Company. Mr.. Whitney was asked to
lake u hand and he bought that company.
When neEutiatinns were opened with The Edi-
sonfoIks. Brady, Whitney and RYAN worked to-
Eether.
Nr. Brady is only Il little more than 30 years
old. but he has more holdings in lighting. trac-
ton and power couInauicS. so il is said. than
any other man in this country. He controls
the, electric. lighting business of Albany. Troy
and towns in the immediate neiEhhorhood. as
Well as the traction COMPANIES OF those cities.
He and Roswell +. Flower control the rapid
transit of BROOKLYN, and he controls Chicago
Gas. Besides this. he was recently elected 4
director of the American Tobacco Company.
Mr.. Heardsley and Mr.. Hemlnens we're both
emphatic in the statement YESTERDAY that the
Power Company, as II has come. To be called.
has absolutely no connection with the Metro
rolitan Street Halfway company. eNcent that
some Of the men connected with the after are
In III" former. II is not denied, however. that
the new pownr houses OF the two companies
may be combined. and il such n combination
were made the amount OF power that might he
sold and distributed would be
Gold Watch for the state Factory Inspector.