The sun., 1901-09-05
BUYING UP
GAS STOCK
Of Wilmington Company at Sll6
a Share.
PRICE CONSIDERED GOOD.
President Edward Belts Sends Il
Circular To Stockholders Telling
Them That Officials Will
Accept the Offer.

Ii Became known yesterday that an
offer has b.en made to take the stock
Of the Wilmington Coal Gas Company
ut SIG. The name oi names of the iii
tended purchaser or purchasers has net
yet been made public. The offer was re
ceired with favor by the officers of the
company nnl President Edward Belts
has sent out II letter to the stockholders
in which the proposed sale is approved.
1t is said that majority Of the stock
has already been transferred.
II is the opinion IN business and bank
ing circles hat the offer referred to is
a good one in every respect II is con
Siered likely that the proposition will
he accepted by all the Stockholders.
The par value OF the stock of the vii
mington Coal Gas Go. is $50 per share
1t has been held. however, at $iO3, 1T
whicl figure tho most recent sales We're
made.
The transfer Of the company and its
effects depends upon the decision of the
Stockholders.
The circular sent to stockholders is as
follows
September Sd, 1901 To the Stockhold-
ers: A cash offer is made for all or any
part of the stock Of this company, Rol
less however than twG-thiriS of the
whole.
The price offered is one hundred and
fifteen dollars per share, with one dol
lar additional per share to bn allowed the
sellers as ~, estimated accrued dividend
at the date of payment.
The delivery and payment to be made
On or before October list, 1901, in this
city.
Many circumstances have prompted
| the management to approve of the pro
posed sale, and the directors have mi
Iahimously agreed to accept the offer for
themselves and parties they represent,
AMI now desire your prompt consideration
Of tho proposal.
| Please notify me before the 10th in
stant on the enclosed blank of your
willingness to join in the sale or other
wise as the owners of 5000 shares must
assent to hold the offer good.
| Respectfully.
| Edward Belts. President.
The Wilmington Coal Gas Co. was or
ganized on March 11th. 1851. under Il
charter granted by the Legislature on
March 4th of that year. The origina
charter fixed the capital stock at $50
OOO. with $50 shares, and the privilege OF
increasing the capital to s120,000. III,
Icharter WAS amended, giving the compan!
power to further increase the capital, un
| til it amounts to 100000.
The present officers are: Edward Belts
president: George 5. Capelln. yice-presl
lent; William p. Taylor. secretary am
treasurer; Thomas Curley, supcrinteh
dent.
Before beginning business the com
pany purchased Il portion Of the si.
nov occupied by the main plant. Il
Madison and Reed streets. and smal
plant was installed. the capacity o
(which was about $4,000 cubic feet Pc
day. During the first month there wer
about so consumers and the average con
sumption was about 5000 cubic feet pc
night improvements have been mad
from time to time. AT the main work
there are two tanks, one of which vii
hold 100000 cubic feet and ,he othe
100. 900, and ut Fourteenth and Wilso
street. there Is an auxiliary tank ia
, capacity Of which is $1,000 cubic fee
The consumers nre numbered by Ia
, thousands. and II is estimated that abou
$50. 000,O0O cubic feet are made and coi
i snmed each year