The San Francisco call., 1903-01-18
GET CONTROL
OF LIGHT AND
POWER PLANTS
Monopoly Is Secured in
Central Counties
by Combine.
Great Company Is Made the
Master Of Varied
Utilities.
California Gas and Electric Corpora
ton, With Fifteen Millions in
Capital, Absorbs Five
Large Companies.

A great consolidation of California cleo
trio light. power and gas companies has
been effected, by which one large corpora
ton secures a monopoly of supplying
hight and electric power to fourteen coun-
ties in Central California. This large con-
Germ is the California Gas and Electric
Corporation. The companies which it has
absorbed are the Bay Counties Power
Company, the Oakland Gaslight and Heat
Company, the Sacramento Electric and
Gas Company, the Fresno Gas and Elec-
trio Company and the Central California
Gas and Electric Company.
The counties in which the great cor
poration known as the California Gas and
Electric Corporation has secured sway by
purchasing the plants of the other cor
porations named together with their
franchises rights of all kinds, etc. are
/ the following: Nevada, Sacramento,
Placer, Yuba, Butte, Yolo, CoIusa, Sutter,
Solano, Napa, Sonoma, Marin, Contra Cos
!! ia and Alameda. The controlling corpora
ton has capital of SIS 100000. These par
ticulars sum up, concisely, the leading
statements made last evening by Eugene
j. de Saba, who, with John Martin, are
in control as managers.
6A COO 44EO N ~ LEO.
The California Gas and Electric Corpor-
alton was originally Incorporated with
capital stock amounting to $50 900, 900. At
ter Mr. de Saba returned from Europe
last September the capital was reduced
to SIS 600 600. That was round to be suf1-
cient for the purchase of all the proper
ties which the corporation sought TO ac-
quire for the purpose Of controlling the
lighting and power of the great territory
10 hn
teen counties enumerated. Really the Bay
Counties Power Company, which was the
larger of the several corporations that
have now just been brought together, has
swallowed the others. The terms. so Mr..
de Saba says, are entirely satisfactory
to all the corporations interested in the
deal The manager or executive officer
appointed is John A. Britton of Oakland,
but the decisions concerning matters of
great concern will rest with Messrs. de
Saba and John Martin. Mr.. de Saba is
the president of the Bay Counties Power
Company. The men back of that corpora
ton have control of the new organiza-
ton.
The negotiations that have just eulmi-
mated began, so says Mr.. de Saba, about
April 1902 From time to time options to
purchase were secured at satisfactory
price on the several companies properties.
Mr. de Saba went abroad and talked the
great consolidation of light and power in
terests over in Europe and in the East.
Ii has been decided to issue to the amount
of so. 900 600 per cent funding gold bonds,
TO run thirty years. In round figures S.
600 600 of these bonds have already been
placed with syndicates and large invest
ors in blocks.
The California Gas and Electric Corpor
alton has 1000 miles Of pole transmission
electric lines, in addition to the gas and
power plants acquired. 1t is said by Mr..
de Saba that no electric or gaslight is
burning from Chico to Oakland that is
not now controlled by the large new cor
poration. Colgate, the New York multi
millionaire, is the president; De Saba and
John Martin vice presidents, and r. M.
Hotaling treasurer Among the proper
ties acquired are those of the Consoli-
dated Railways of Sacramento.