New-York tribune., 1903-02-11
BAY STATE GAS IN TWO COURTS.
Justice Davis Enjoins Sale of $4,000 Shares
of the Company.

The question Of The disposition Of 15eo shares Of
stock of the Bay State Gas Company or Massa-
chusetts came up in two different courts yesterday
In the United states Circuit Court Judge Laconhe
vacated a stay granted several days ago the
application of Jacob Edwards, a stockholder' re-
strafning the Mercantile Trust Company from sell
ing and disposing of the stock at sale advertised
for Yesterday: and in the Supreme Court Justice
Davis granted temporary injunction. on the ap-
pIication Of a stockhoIdsr Of the Bay State Gas
Company Of Delaware, Joseph c. Hand, which
acted as a stay of the sale. The injunction vas
made returnabe this morning before Justice Iruax'
In vacating the stay In the Edwards case. Judge
Lacombe stated that the complainant had had
every possible opportunity TO raise several weeks
ago the questions involved. as the sale had been
advertised.
The temporary injunction granted by Justice
Davis restrained the Mercantile Trust Company
it's agents and assigns from selling, assigning or
in anywise 'disposng of securities in Its possession
under and by virtue IF certain agreement Ihe
defendants named were J. Edward Addtcks, the
Mercantile Tsust COMPANY the Bay State Gas
Company OF Delaware. Henry H Rogers and Freo-
erck W Whitridge. the latter two individually ana
as trustees. The order granting the in1uncton
states that the Is GO shares mentioned constltute
the entire issue of the capital stock OF the SalS
company other than the original issue OF 5000
shares which said 15,0oo shares together with the
qa9 of the original shares. now in the posses
sion of the Mercantile Trust Company
In connection with the order granted by Judge
Davis. James NJ. Oxford, counSel loE the plaIHlIiI'
issued the following statement:
Joseph c. Hand. WHO owns 5000 shares Of stock
suit in behalf Of himself and all other stockholders
of the latter company The Bay state Gas C9h-
pany, one of the defendants formerly oWned
bond of 81 500 900 executed by the Bay State Gas
Company of Massachusetts,. The Bay state Gas
Company of Delaware. it is claimed, issued bonds
stock based on the above mentioned, whlch II nad
received from the Massachusetts corporation The
stock was in course of business acquired by the
Bsy state Company of Delaware formerly owned
gachusetts with the stocks of various other gas
companies carrying on gas business IN the city
poration deposited with the Mercanthe Trust
Company to secure bonds issued by the NeW.Jersey
corporation In 1885 the legislature OF MaSSa-
Bav State Gas Company of Delaware forfeited
unless that company should surrender the bonds foT
eco issued hy the Bay state IdS COMPANY OF
Massachusetts. in which event the Delaware COM
many was TO receive stock OF the Bay state Gas
company TO the amount of the value of the plant
IT'S capital stock Of 100000 held ny the New-Jersey
corporal ton as aforesaid The directors Of the Del
bill and stock of the MassaC Chusetts corporation
was issued in the sum OF slSo"To Ine stock IN
poration in the place of the bonds formerly
held by il and surrendered as aforesaid. was de
the bonds issued by the New-Jersey corporation.
Tbereupon bonds of the New-Jersey corporation
camille Trust Company and delivered 10 the De -
ware Company in place OF the stock ot the Mass
surrendered by the Delaware corporation as afore-
said. ... l.. -, -. -.
the stock OF the Massachusetts corporation issued
in CON forrnty with the act passed by the legisla
ture as aforesaid. known as the Lytord aGt should
rornoratio and that a sale Of that stock by the
Mercantile Trust Company Is in violation Of the
rights Of stockholders Of the Delaware corpora