New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-10
sAGE,s SALE OF GAS STOCK.
SAYS A BOSTON MAN AND NOT THE ROOKIE
FELLERs GOT IT.

Russell sage admitted yesterday thu truth OF the
report that he had Ioid part OF his holdings n
the Standard Gas Light Company. Of which he Is
president but beyond that he not particularly
communicative He declared. however. he had
made the sale TO a Boston man and not TO the
RockefeHers. Mr.. Sage said:
I don't propose to say any more about this sale
than the law requires You may BE sure OF thal,
the person who has purchased the stock The
public has no right TO ask me who oougnt;lt ana
take my books themselves 70 answer your
questions I don't see why the public is so inter
however, and that is that Mr., Rockefeller mas no.
with Mr.. Rockefeller j.. for scme time. but ne
At that time Mr.. Rockefeller came 70 see me; ana
again expressed his desire 10 buy my StanCaru Gas
100 i 1a1f M oi nIavfosIV therefore declined
10 have anything TO do with him, and broke on al
since then have seen nothing Of Mr. EockeIel.er
or his agents. had had another oHer Ior ~
Standard stock as 7 told Mr.. Rockefeller al the
Ia e se,,s %s7 t- soo ce 5av or two ago de-
iugs. I don't know I know who bought IL I got
o ogs d fot e * S1af mss s too a al there
Is TO IL. It was an ordinary business transaction
Why should the public care to know any more-
But if Mr.. Sage has adopted Mr.. Cookers motto
Of that's my private business his fellow directors
Of the Standard Gas Light Company do not sup
port him in that attitude. John T Terry, vice
president Of the company. said yesterday
I should not dare TO trust myself 10 express an
opinion upon Mr.. Sage's transaction do not see
now Goua JE7 he c6 ~ s- - -b l- giv an ne
stockholders the same right
Other directors were equally emphatic in char
acterizinE M Sage's move declaring that they
were through with Sage" and asserting that he
had sold all his stock except the few shares nee
essary TO enable him TO qualify a director
Although Mr.. Sage says that he has not sold out
10 the Consolidated Gas Company. and although no
body believes that he has. still il would be next 20
impossible fnd a in Wall Street who IL not
convinced that in time Mr.. Sage's little block OF
stock will find its way into the hands OF the stand
ard Oil interests In other words while Mr.. Sage's
holdings fall far short OF being a majority Of the
conpauy's stock there is universal belief among
the vel informed that his natural shrewdness ena-
bIed him 10 decipher the handwriting the wall.
prediction Of ultimate consolidation OF al the local
gas and electric light interests and that ne. whs-
perfng he ne'er would consent, consented 70 De
'harmonized" 10 a new and popular term de-
scriptive Of certain Standard Oil ueChods-and con-
scented even TO the extent Of abandoning his former
position Of refusing 20 sell his stock unless all
the other stockholders should receive terms as ad-
vantageous as those offered to himself
One Of the directors said that Mr. Sage had re-
ceved between $4,000 and 10000 for his stock
Mr. Sage himself declined yesterday 10 answer the
criticisms passed upon him BY his associates in the
Board Of Directors
Charles F. Orvis. director Of the Standard Gas
Light Company, who represents the largest single
interest in the company. that OF the Wallace L
Andrews estate. said yesterday afternoon.
We have waited long enough for nsgoJiatons
and are no, now looking for offers We nave
run il or business principles We have Sl35e. 10
first mortgage per cent bonds making our hxsd
charges only So. 400 year. We have $ Il-ruV0 OF
preferred stock outstanding and 100000 common
stock We own 24 miles o. pipe and the STOCK
holders now have an opportunity 70 Subscribe ror
100000 Of preferred stock a par n proporuon 20
their respective holdings That VIII give Us ample
working piral for increasing our plant and bust
ness.