The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-04-09
Immense Scheme of Consolidation
Embracing Many Cities
Is Planned.
HEADED BY EMERSON M'MILLAN
Corporations Said to Be Included
Have Capital Amounting to
$35, 600. O.0O0-What st.
Louis Men Say.

A special dispatch to The Republic from
New York states that Emerson McMillin,
president of the Laclede Gas Light Com
pany of st. Louis. is planning the union in
one corporation. to be known as the Amer
lean Light and Traction Company, OF four
concerns. which are now controlled from
the ONCE of the banking firm, and circular
letter to stockholders is being sent out by
lin. 1t Is proposed to take the Laclede Com
pany Of St. Louis into the combine.
The dispatch says:
III. B. Wilson Of the banking firm said
Monday that the new company would ulti-
mately absorb many other concerns and
have capitalization of $50. .000. 600. The pres
ent plan. however, is to take in only the
Western Gas Company of Milwaukee. which
has 100000 Of stock and 81, 600 900 of bonds:
the Grand Rapids Gas Light Company Of
Grand Rapids, Mich, which has $10c0.0OO Of
stock and $1.226.O00 Of bonds outstanding;
the Madison Gas and Electric Company Of
Madison. Wis. which has 100000 of stock
and $S5O,0OO OF bonds and $4,000 Of scrip,
and the st. Joseph Gas Company Of st.
Joseph. Mo-, which has 100000 Of stock
and $750.O0O of bonds.
mo proposed capitalizat ton is mentioned
In the circular. but the plan is to have only
sufficient preferred stock issued to buy the
stocks Of the four companies now to be ac-
Quired, and such other concerns as may be
taken in later. and to have common stock
not exceeding the amount of the preferred.
OTHER COMPANIES TO
BE TAKEN IN LATER.
For each 500 of the stock now owned,
there are offered to the holders of Western
Gas 500 Of new preferred and so Of new
common: Grand Rapids. $5S new preferred; !;
1Hv, ATol(
preferred. $24 new common; st. Joseph Gas,
40 new preferred, $12 new common. The
success Of the plan is said to be assured.
The time for depositing stocks ends April
80. and the Trust Company Of America is
the depository.
It 10 also proposed to ultimately absorb
the following concerns. in addition to the
Laclede Company Of ST. Louis; Bingham
ton Gas Works ($450.000 stock, Columbus
Edison Company ($74oOOO). Columbus Gas
Light and Heating Company G4,76S.OOO. Co
lumbus Railway Company 08O0O.0C0). Con-
soIfdated Gas Company OF New Jersey (N,-
0o0.OCOD: Denver Gas and Electric Company
($2. .05O0 00N. Detroit City Gas Company g.
$4,000, Jackson Gas Company (s25o.0c0), JAG
Ques Cartier Water Power Company $780,
500. Toledo Gas Light Company CSC. .0C0).
Southern Light and Traction Company OF
San Antonio. Tex. G1.6oo.O0O). st. Paul Gas
Light Company 0l.5oO.OoO and winnebaso
Traction Company 0ss00OW and Montgom-
cry, Ala. Light and Power Company.
NEWS OF THE DEAL
IN ST. LOUIS ::
the names OF those whdswin forms the
corporation. IL the deal IL consummated,
have not been learned.
James Campbell. who Is one Of the largest
stockholders in the LAclede Gas Company.
when asked about the proposed deal Mon
day, said:
II understand that Mr.. McAfillin IL pro-
noting such an enterprise. and it will in
clude not only gas companies. but also all
electric power and light companies that can
be absorbed. / don't know how far the mat
ter has gone but II the Laclede Gas Com
pauy is to be included in the DEAL he knows
where We are, and II he wants my stock
and will pay my price. he knows where to
find me-"
I. H. I.ionbergei. vice president Of the La
clede Gas Company. said: II know nothing
Of the suggested deal. and am inclined to
think that 1t grows out of the fact that
Mr. McMulin Is connected with most. II
not all. Of the gas companies included in the
list mentioned
'.1e is q gas expert, and as such has be.
come identified with great number OF
idation Of these various concerns seems i'm
practicable to me for obvious reasons from
a business point Of view, but outside OK
that the State Law inhibits the tncorpora-
tion Of any company in st. Louis with
capital stock exceeding $l00oO.00o. am OF
tion of this gigantic trust is circulated
only for the purpose of affecting stocks. II
II has any more substantial basis am not
aware Of 1t"