Evening journal., 1909-07-13
Clarence H. Geisf Says
He Owns Every Share
Of Stock Of The VIII
mingfon Gas Plant, And
Will Spend S75O,OOO
For BeffermenfS

AT present there will be no change
in the price of gas, but after we get
our plant standardized, and as soon
as the consumption of gas is what it
should be. there will be a cut In the
price," said Clarence II. Geist, the new
owner of the wilmington Gas and
Electric Company, yesterday afternoon
This has followed in every company
/ have purchased"
Extensive improvements to the plant
and distributing system in order 10
furnish gas of the best quality are
promised by Mr. Geist, who was a
Wilmington visitor yesterdty afternoon
and formally took pu his Office at No.
s27 Market street, which will continue
to be the gas company's main Office,
although it will be altered and i'm
proved.
Mr. Geist says he is the owner of
every share of stock in the company,
and that it is to be conducted purely
as business investment. He says
thtt S75O,00O will be expended in bring
ing the wilmington system up to the
highest standard. After that, according
to his statement, it viii depend upon
the amount OF gas consumed in this
city whether or not the price will be
reduced. Mr.. Geist said at this time
he had no definite figures in mind as
to the consumption of gas that would
warrant a reduction in price. That
would depend upon the circumstance" I"
he added.
Spent Ptrt Of Day Here.
Mr.. Geist spent all of yesterday af-
ternoon at the local Office Of the gas
company He talked of the $2,500,0Oo
deal by which he acquired the gas
9 ~ fr Tom 1r1 a..
dealing with such financial trifies. He
says he is interested in ten gas COM
ptnies including a chain OF companies
stretching from outside of Chicago 20
Gary, Indiana the Steel Trusts model
city. He also has plants I'm Lansing,
Michigan, and through Indiana, he said,
and is interested entirely in gas and
electric companies He said he htd
no intention Of embarkng into the
electrical business in Wilmington, al
though the Wilmington Gas and Elec-
trio Company owns valuable fran
chises for the erection OF poles and
the laying Of conduits, as well as the
construction of subways through VIII
mington. the latter rights being grant
cd to the Universal Light, Power and
Conduit Comptny which was absorbed
by the gas company when John and
James Dobson 80 Philadelphia acquired
both compan Neither has Mr.. Geisi
or the gas company any intention OF
acquiring the Peoples Railway, which
is controlled by the Dobsons, he said
Officers of Company.
Mr. Geist conferred with Colonel Ed
mund Mitchell. vice. president Of tho
company. tt the company's offices. THAI
Colonel Mitchell is TO continue as vice.
president and director Of the company
for awhile at least was stated by Mr.
Geist. William p Taylor is TO continue
as secretary and treasurer Of the com
pany for awhile. at least. but james
Dobson has resigned as president anC
Mr. Geist was elected president at
meeting in Philadelphia on Saturday
The directors, in addition to Mr.. Gels
and Colonel Mitchell are George :
Capelle of this city. and c. w Fov
Joseph A. Slattery W. c. Cole, II. w
Rible and c. II. Weak. of Philadelphia
who are understood to be connecte'
with Mr. Geists Office at No. 1927 Lam
Title building.
Says He Owns All.
Mr.. Geist talked freely OF his plan
for the development Of the company
Every share of the stock is owned h,
me personally" he declared. II bough
the company and own it personally. bii
probably viii take some Of my friends II
later Just who I have not decidel
on.
I'VE expect to spend S75O.O 900 for i'm
provements, and betterments the mex
four vars. We will lay fifteen mile
OF mains within year. AS soon a
possible we intend to go over tn
system thoroughly with expert ga
engineers from our main office. In tn
Land Title Building, Philadelphia. tn
c. II. Geist Company is the name q
the company under which I operat,
and which / control. The Whining
ton company will have no connectio
whatever with the L. G. T. Compan
of Philadelphia, the Otto company O
any other company, I buying it pei
sonally. as I have said.
mo. ] don't know J. Edward Ad
dicks" Mr.. Geist added laughingl,
when asked that question by the r.
porter.
Mr. Geist explained that the Wi
mington Gas and Electric Compan
continues the same, as it is merel
n transfer Of the stock to him.
is possible that the name Of the con
pany may be changed eventually, h
explained. when the company is take
by the c. II. Geist Company, whic
is a New Jersey corporation.
The engineers will swoop down up1
the job on Monday, Mr.. Geist SAT-
and will begin an examination to dii
cover leaks in the system, and whef
ever the pipe is found to be too sma
new piping will be laid. A new tan
or container with a capacity OF mi
lion cubic feet of gas will be COZ
tracted for this winter, and will be II
stalled at the works along Mars
road. Mr.. Geist said. and new ga
producing machinery will be instalie
Il will be necessary to erect some ne
buildings. New meters will be bougl
and new extension mains will be Ia
throughout the city. new services w
be installed and new purifying hou
will be erected.
I'VE are going to standardize u
company in every way" Mr.. Gel
said. land we are going to give u
people what they ought TO have +
their money. At present there will
no change in the price of gas An
we get our property standardized he
and as soon as the consumption Of g.
is what IL should be there viii be
cut In the price of gas. This has be-
followed in every company I ha