New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-21
WHAT L1WSON PRINTED.
Bay State Observation-Disclosures on
Insurance Management.

u the t-staIrneut % ''Frenzled Finance in the
January issue Of ''Everyb0dy's Magazine Thomas
Y. Lawson continues The account OF the difficulties
Of The Bay State Gas Company. He takes up the
story IN the fall Of 1886 when the appointment Of q
receiver for the company was obtained at Whining
tor. n part. he writes:
To all appearances the gas war was over. We
bore the palm q victory. bat looming up before Us
Rogers must nave ~ Noyel-osr = mat ala me
companies became permanently ours. t was q
s socs5z = we're excseTr A5l.s lad -9t readv
ncT Iot Of Bay state stock. and had prepared the
and The securities 7vhioh Rogers would turn over
70 rs We should have Ii9Eeg enough y meet our
engagement. always provided no sAp-Up &C.
While Lawson and Addiclz were in conference the
news was telephone5 70 the latter that receiver
had been named The writer continues:
We Eoo9 had FL The details 7. Of The rad This is
- - So p -
Del. accornpar!ed BY Roeser Foster New-York
tie original holders = Ray state Gas income bonds
a5s aas i5san tt a interest s on The bonds
vas II eetaE-t and that Ac4tcks was dlssipatilg
ducng The Judge 10 appoint BTaman receiver. The
marvellous "a piCIty that not one Of Addickss in
Vulnerable herchrneu had Il hint Of e. and no
an a5eft il. c6rPer5t5n tr6ts lost not moment
t9r ne instant E!s recelEeTsaD appoLntraeEt vas
ire Bay State and seized everything they con
tlireG He waiting there for the first train
head Offices of our corporation. which were located
there. adjoining Addicks's private Offices.
L was TIA moment for rapid action We had
nolr before 5raTlaIl ana Foster could reach Plila-
dicks nstrctei Fred keller to rush the books Of
tie company into a trunk. together with all the
private papers in Addlcks's safe. and TO come at
once 70 NeT-York, where ne would be beyond the
jurisdiction q the court We returned 70 the large
raTlor and hastily explained 70 The waiting di-
reotors what had occurred Add.cks instructed the
trunk upon is arrival and disappear In the mean
tine tae c6In2a1ys counse! adEl- that he and
rrcms az the Hoffman TO fIgstTate any attempt 70
get legal service them, for well knew that
Brauan and Foster. as soon as they realized they
YORK courts FOR additional po~ers-which after
Bright ard early Wednesday morning Rrarnan
called on me, and when ne threw his coat and hat
into a chair he must have dropped his recetvership
door and made sure We were without witness, he
said:
After We had set out ell the advantages. disad-
y pumped BraIlan with that inevitable question
q al such 'sit-dOwns' What's the prlcer' And
Buchanan. Fosters client must have the face Of
his bonds and interest, So 60 ard We must have
- - - . tsA7-9- =,
he also frankly tod me that he had named the
very low figure $1,000 because ne expected TO IN
y ano upon lie Jumping % SO or sc. 10 make half
''IrsIaan' / said. we see the situation through
the same glasses but before deciding as 10 prices
let see where the CON To hack them up is to
come from. Until the receiVersaip IS dismissed
that eliminates Addicks. ! personally. am in
such shape because of this same receivershiD that
The man -rt-a ,1IjYaitc5 rroTeT-2ogars The cIee
zion Is. how 10 get Rogers 70 advance so large a
sum IN such q uckAsh business: He does not want