The Providence news. (Providence [R.I.]) 1891-1906, 1900-01-10
The Consolidated Co. Takes
Steps to End the Trouble.
BUYS STOCK IN STANDARD.
Russell Sage Says He Has Sold Mann
Shares, but Not All His Holdings
CONSOLIDATED WILL BE IN CONTROL
In Indirect WAY Sage Says Ne Does Not Know 10
Whom tIs Sock Vas Sold 0,al
ksds Through Brokers.

New York, Jan. lO.-It was general,
believed in Wall street yesterday tha
another step had been taken towar,
bringing 70 a close the gas war which
for the last six months has proven :,
disastrous to heating and lighting in.
terests. The latest step. il is thought
Is the requirement OF a controlling in.
terest IN the Standard Gaslight COM
pany by individuals who are in control
OF the Consolidated Gas company.
Although IL was known for some time
/ that the Consolidated Gas company was
I trying to bring about a settlement of
the gas war, the first definite step was
the requirement last week by the Con-
solidated Gas company Of a controlling
interest m the New York Gas and Elec-
tric Light, Heat and Power company.
Inc fact that Anthony ~ Brads who
rs the main owner OF the New Amster-
dam Gas company, was also one OF the
potent factors in he Whitney syndi-
cafe, which controlled the Light. Heat
and Power company, also led 10 the
DeIl that the New Amsterdam Gas
company would no longer be regarded
as "a costly rival. The fact that the
New Amsterdam Gas company recently
raised the. price OF its gas 10 the legal
ldte or Sl.lO a thousand feet. which by
law come down 10 Sl.O5 on Jan. /
strengthened tine better mat that COM
pany would give the Consolidated no
further trouble.
CONTROL THE STANDARD.
IL remained for the Consolidated 10
get control Of the Standard 20 stop the
war. In an indirect way IL is bel!eved
lh4t The ConsOuqated has taken stems
10 secure that control OF The Standard.
ne constitution of the standard Gas
Ishl company II Is said. does not per-
hi't that company To be combined with !
any other company and for that reason |
the Consohdated could not legally buy |
out controlling interest i'm the stand |
ara But there was nothing TO prevent |
persons Interested i'm the Consolidated |
from acquiring as individuals enough /
stock in the Standard u direct it's bust
petition Such purchases. IL is believed
ness in such way as 10 remove com
IN wall street. have been made.
President Russell Sage OF the stand
NJ tdStfEhr CUUpany has disposed OF |
large block OF his stock i'm that com
pany, but exactly how much he sold is
lot known TO the other directors. Mr. |
Sage's stock that was sold was trans
erred To other names but the names
hrow 20 light on the identity OF the
purchasers. Frank Tflford. vice-presl-
Tent or the company. D that FOR the
ast TWO weeks Mr.. Sage has been sell
ng his gas stock
Mr.. Sage, when Spen at his office. adj
litted that he had sold considerable
took I'm the Standard When asked how
,uch he said
Isn't II enough for me 10 say that
nave disposed Of considerable stock
the company"
ITO whom did you sell it?" was ask
81 don't know" replied Mr.. Sage. IL
" II In the hands of brokers who sold
for the price which was satisfactory
me"
HAS SOME LEFT.
Did you sell ali your Standard
ock?"
No. have some left. but I don't
low how long / will keep IL. II / get
- t-St+i4-t ~ price, fright self more
don / care TO say what price I got
cause that Is a matter which concerns
ly she buyers and myself. and don't
re to say who bought the stock burt
VIII say that so far as | know have
I sold any to William Rockefeller or
y other director Of the Consolidated.
nm not able TO say what effect this
u have on The gas war What I sold
ght not 20 have much effect. | don't
oW whether other stockholders have
d any Of their holdings"
from one source it was learned that
zen Mr.. Sage began recently to get
OF his stock he had a very large
'CN. hut not the largest block. nor was
ever the largest holder II was said
II the sale Of his stock did not there
c carry With " the controlling inter
one director said that so far as
knew Mr.. Sage was the only large
der who had disposed OF any OF his
* recently and that Mr.. Sage did
Conpdc I'm The other directors when
madp the sales.
William Rockefeller visited Russell
ye some time ago and tried TO buy
.lSagc.s stock. but it was understood
Wall street. az the time that the
res asked were too high Mr.. Sage
? after these interviews with MIR -
'kcfeller that IN case ne determined T.,
cell " would be with the distinct un- ~,
standing that an fIie other stock -
doris of tho company were To have | -,
chance. ~ they wished 10 dIsnose -.
heir stock ~ tho same price =.
rom Tho contingencies - tho Gas 20,
' The company last month decided IN 49,
r the stockholders OF record on or ,rt
lrc Jan. ~. GOO shares of preferred a.,
'f ~ 300 n sh3re. There was then n,
ti.lNo worth of nroferrcl stock out. ~,
'ding, ont ~ an authorized issue os ~, ~,
p. 600 No dividends were declared no
ha last m rsffun -.