The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-18
Fight GAS DEAL
S%TOCKH0LDER SAYS LAW
SON HELPED IN WRECK.
Frenzied Finance Chief Accused of I'm
fair Methods in Getting Com
pany Presidency.

PHILADELPHIA, Dec. ls.-The election
of Thomas W. Lawson, as president Of the.
Bay State Gas Company. is TO be con-
tested by j. Edward Addicks. the original
head of the concern. according to friends
Of tn latter, who are in touch with the
affairs OF the company.
The Adeicks forces claim that the cleo
ton of Lawson as president at a meet
ing held in this city on Monday. is IL
legal because the election should have
been held in Delaware, where the Bay
State Company is incorporated. and also
because no meeting Of the stockholders
was called.
It is altered that 1t was because of
Addicks's efforts TO have his own men
elected to the directorate so that he could
again control the big holding company,
that caused certain of the directors 10
summon Lawson to the leadership. Law
son holds about one-fourth of the 3,o0O,0W'
shares of the company. whose affairs are
now in the hands of George Wharton Pep
per.
Lawson has simply bagged the erapty
ngment of a DREAM said Charles 5.
Hinchman in referring to the Boston
finaneier's latest coup. Mr.. Hinchman,
who Is reputed to represent heavy holdings
in the much-litigated company and to be
exceptionally well-informed upon its af-
fairs, was emphatic in his opinion that
Lawson's latest move would have little
practical effect on the company's affairs.
why" he continued, Lawson had
about as much to do as Addicks In wreck
ing the company. They we're associated
in all the early deals, and one was as bad
as the other. The receiver. Mr.. Pepper,
actually recovered considerable money
from Lawson due to the company. Aware
of these facts from the records, / do not
believe the court will agree to turn over to
Law IONS control the $ ,0co,0oO or whateer
sum is left after the receiver has settled
the debts.
IF Lawson has spent much money for
the stock he has probably bought a pig in
a poke. / came to a conclusion about the
calibre of Lawson at the time he pub
lished his Wall Street interview, some
months ago, when he admitted that he was
simply a stock gambler, like the rest, and
II was a case OF the devil take the hind
most. 1 do not find that his glittering
promises amount to much in cold fact.
He added that it was his firm conviction
that the court would not permit Lawson
to get control of the company's funds, nor
would it recognize any new management
ina WOuiu be likely W NOntlhhG liS StOSh~
jobbing operations which wrecked the COM
pany.
George Wharton Pepper, the receiver OF
the Bay State Gas Company, could not see
that Lawson's renewed activity contained
promise of any immediate benefit to the
company. He said he was informed that
the ostensible purpose of the directors
meeting on Monday was to elect a isuc,es-
sor 10 James G.. Shaw, the brother-in-law
of Addicks. who recently died, and the
choice of a new president was not init
mated in advance.
BOSTON. Dec. Estate Street is grad
ually accustoming itself to the thought
that Thomas w. Lawson is In the Bay
State Gas saddle again. 1t took some time
to realize 1t, and while a definite idea of
what is going to happen has filtered
through the financial districts, snd every
body is hedging and fixing things UP ship
shape for the surprise that they think ia
coming. no one In authority has let falli
officially. a single word on which to base
the calculations.
The stock. the par value Of which Is
$50 per share. has been selling at twenty
five cents n share of late, but jumped ia
thirty-six cents Monday after the deal was
announced. going to forty-five yesterday.