Evening journal., 1901-09-23
.DOBSONS BUY
COAL GAS PLANT
PhiIadeIphianS Pay $lI6 Per
Share for the Stock
PAR VALUE was BUT $50
Wilmington CITY Electric Company
Will Have a Competitor After
October |

John and James Dohson, of philadcl-
phin. owners and operators of the Poo
Pies Railway Company in this city. have
| purchased the plant of the Wilmington
Coal Gas Company and viii assume CON
troll about October T.
For some time past 81 had been ru-
mOrcd that the plant was To- be sold aud
chat the railway company was Interested
| in the deal. but for some reason the new
purchasers requested that their names be
withheld from the public and officials re-
fused 90 give out any information ON the
subject until to-day.
When seen this morning. however,
George ). Capelle. vice-presidcnt of the
concern, said that the Messrs. Dobson
had bought the plant and that the final
transfer of stock would bee made on or
about October /. When the sale was
thought of the Dobsons were bidders, of
fcring SIG per share. with the proviso
that they should control 5000 shares, par
value of the stock, $50. The stock of the
company is divided into 10000 shares and
the directors at once began communcat-
ing with the various shareholders. the re-
suit being that the holders of II 632 shares
have signihcd their acceptance of the Of
fer. Two parties holding jointly A
shares have not yet given their consent
10 the price offered, which is considered
a good one. Several of the stockholders
are abroad and have not yet been heard
from. There is no doubt, however, that
iiye-siXths of them viii willingly give
their consent TO the sale, and IL is highly
| probable that the entire stock will be
bought up by the Dohsons.
In speaking of the purchasers this
morning Mr.. Capelle said: They are
men of high financial standing, Of strict
integrity and stand high in the matters
of finance in Philadelphia
IL is understood that the new manage
ment proposes To make extensive improve
mcnts, among which will be a large gas
receiver in addition 10 those already in
operation The purchase Of the Conduit
Ient Light and Power Company. OF
4, which Edmund Mitchell. Jr.. is president,
Is also rumorcd This report has been in
circulation for some time. II is also al
legged that there will be an issue OF bonds
TO cover the amount paid for the stock Of
the corporation purchased.
WILL HAVE AN OPPONENT.
One fact in connection with the pur-
chase of the plant by the Dobsons, is that
the United Heat, Light, Power and
i Transportation Company which controls
the Wilmington City Electric Company
and the Wilmington City Railway Com
pnny, will have an opponent in the mat
ter Of lighting the city. as the Whining
ton Coal Gas Company has "a charter
which will allow them 10 generate eec-
tricty for lighting purposes. A bid also
will be made for the lighting of the city.
Investors and former holders Of stock
in the gas company are looking forward
with a great deal Of interest to the char
acter and amount of the bonds the new
company proposes to issue.
The offices of the Wilmington Coal Gas
Company are at No. S27 Market street,
the officials being Edward Belts. presi-
dent; George $. Capelle, vice-presidcnt;
! w. i. Taylor secretary and treasurer,
and Thomas Curley, superintendent.
CONDUIT COMPANY HASN'T SOLD
When spoken to about the reported sale
of the stock Of the conduit company, Ed
mund Mitchell, Jr., president, said it had
not been sold TO any one. IL is not for
SALE