New-York tribune., 1900-12-09
TWO IMPORTANT AGREEMENTS.

There two agreements made between the
new gas company and the Mercantile LrusL C9In ON
providing for an issue of N2O00.0oO bonds. and the
s0nd 0gd1 Of is 81 % Gas TbS bend rET ssu & SERIES = ha
figured in al the subsequent history OF uI ths 2 7S
in New-Jersey Under the first agreement the
Jersey set forth that they had acquired certain
shares OF stock in certain 8 companies IN and
certain other companies. They required for the
purpose OF secdng 5uca ta oPgS by the ssa2ce
of bonds for ike amount these oonds 70 oe ac-
corpanied by certificates issued By the trust com com
pany the latter agreeing 70 pay interest and prin-
cpal if it should receive the necessary runos lne
stock of the company 10 be pledged with the trust
company as security for the bonds. In time about
We're transferred 70 the New-Jersey company. and
delivered by IT. 70 the MerSantlIe IfuSI CoLnpang s
OF So 100000 were issued by the New-ysVsey com
pany and @ wsre sold in the market There were also
issued at the time 100000 OF bonds or the second
further pledge Of the same stock. subject 70 the
Peage & ,i IPr co9any Sne provided that the earnings Of
the various companies included in the Bay state
primarily to the payment OF interest on the bonds
S1r3bar ~ T Sor tbs asta5ishment Of sinking fund
Of per cent year, beginning on January J. lssa.
redemption OF the 'first series bonds The Bay
State Gas Company OF Nsw-JeFsey agTSsd % I maze axe
biIity of the constituent companies to meet cut OF
gaons fsi Of 6e 'a snns nd On on one Se months
fault OF interest or OF the annual an, hS 81
should become due and the pledged stock sold.
HH. ROGERS TAKES PART
tT %s e Shssg Of hs Bay u ss Gas Conn
Of Rs9Tsre was RSe1dbng pen b before % the tss
Mr. Addicks and his associates that the Boston
posed Delaware company. but delay being en-
eountered In the securing Of its charter the Bay
by them meanwhile and absorbed the four con-
the south Boston Gas Light Company the Rox-
bury Gas Light Company and the Bay State Gas
pany. however Obtained its special charter in April
lSsre @ snS Of @ Stock aRsI ~ the m y ss Gas @ 5 Ts % %
NewcJsrsey paying therefor 5000 in cash h and an, g.
bities of the latter corporation.
At about this time r. H RogeEs. whose ability
genius appeared on the 5 Ros50n gas ed ID M AadieS &
bond plan had la arranged for the issue at the out
y o @ 20, 1eiS ne aeaS,siton of 45s RFookIin %
his Bay State company, OF New-Jersey. practically
bT1g brb or at foT G tere @eo as
delay and Rogers bought the Brookli1e m 2 company.
1rst move was TO start a gas war" through which
eompanv had also found the cut rates rather costiy
and by and by Rogers and Addicbs met to discuss
agreement on the part OF the Bay State Gas COM
taken over the assets and liabilities Of the New
Jersey company TO purchase from Rogers the
ss.OOOOOO. sum which was supposed represent
and bus also his losses incurred in th T s
which had been started by him: and AddicIs was
raise this money BY the issue of new securities.
Just as this arrangement was about 70 be carried
into effect. however. the Bay State Gas Company
of Delaware, thrown into Teceivership. on
the application OF a bOndholder. This OF course,
upset the arrangement for the purchase or the
BrOokline company
STANDARD OIL INTERESTS TAKEN IN.
Then came the operation by which Rogers and
his friends, and through them subsequently, H. M
Whitney and his associates. secured control OF the
gas field IN Boston. Addieks and Rogers il IL
said, entered into agreement BY which Rogers
advanced the sum necessary to buy at a large pre-
MUM the bonds held BY the PLAINTIFF IN the receiver
ship proceedings and the suit was discontinued.
Thereupon Rogers. IL IS reported said to Addicks
that while he still willing to dispose OF the
BrOOkline company, In furtherance OF Addiclxs,s
WERE LUsTY FRIAR JOHN LIVING TO-DAY