The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1913-12-08
MAKING MONEY LIKE A
MINT,

- W. -ShV4 NfuLSOHS ~ JIH6 w 'OiCS AAkbAN
stockholders out of the gas company,
they have been pressed by these same
stockholders TO make a sale II pos
sible so that they might take down
tlieprofits derived from their connec-
tion with an enterprise which the
4, Watsons originated largely for COM
munity benefit and Which has been
operated along the line oftbringing
industries to this section and pro-
noting the general good Of Fairmont
and vicinity. This is no time nor
place to ailude even remotely to the
great benefits their industry and en-
terprise have been to this city. The
public knows that at all times they
have been foremost in everything
that has stood for the Advancement
Of Fatrmont, and II we were to lose
the direct and indirect effect OF the
things they have brought here we
/ would not need to concern ourselves
about commission form Of govern
ment because we wouldn't have much
of city to apply it to.-The Times
The pending gas deal may have
more to do with the present campaign
than the Times knows. 1t may moi
understand that there are people
with capital ready and anxious to
get gas franchise for this city and
that an application will be made -
the incoming administration for a
4 franchise. The Times may. not un-
derstand that the Watsons do not
think another gas company will be a
good thing for their business. The
Times may not understand this ap-
pllcation would have been made lSng
since had It not been known that the
Watson influence absolutely CON
trolled the council and that it was
impossible to secure franchise. The
Times may not understand that the
Watsons want to elect board Of
1 Commissioners who will look with an
unfriendly eye upon any attempt OF
any other philanthropists coming
into this territory and "bniIdinG up
industry" by supplying gas at lower
rate than the Watsons and their al
Ties can sell Il for.
Some people think that the only
way money is made is at govern
ment mint iAt, they do fot under
stand the gas business. There are
other ways that turn out the coin al
most as rapidly and when the Wat
sons see oneeof these ways\they ar"
Immediately overcome with the idea
that they must do something to
"build up the Monongahcla Valley
and they organize another corpora
tion and elect themselves president,
vice president, secretary, treasurer
general manager, and board OF direc-
tors, and commence to build up the
country and ask the people to fur.
nish the money. The gas deal Illus
trates that system to the best ad-
Vantage. These pioneers in the up
lift and upbullding movement have
kept competition in the gas business
out Of Fairmont, and have gotten
along very well inrtheir philanthroptc
enterprise Itris something like. this;
The company was organized for
5000, 600 and by the simple process of
issuing stock dividends from the pro-
fits to the extent of Three, hundred
per cent. or in exact, figures 10000,
the capital stock was increased to
$500, 900, tho people of this vicinity
paying for allof this stock by patron
/, izing the monopoly for the sake OF
assisting the Watsons in building
I'M tho Mohongahela Valley" Ate"
the initiation Of the stock to $SOO.OOG
1t was thought to be good plan to
make some more money and the plant
was sold for even a cool million dol
lars and thus we see tlte original cor
poration capitalized at 100000 sold
for a profit OF four hundred per cent
But that is not all. The purchas
ing company paid $250,OOO on the
purchase price, or quarter'of mil
lion dollars and tile Watsons and
their allies seeing that the other pay
Z ments were not Forthcoming are seek
ing to regain control by taking the
property back at S76O,OOO and saw
8 ing the quarter of a million dollars
made in the deal. To be sure COM
pany making money like thts does
not want q board Of commissioners
that would have anything to say
about granting franchise TO a CONS
peting company. There Is plenty
more water In the Monongahela river
and what is the matter with watering
q the stock later on for a few hundred
Thousand dollars and selling 1t al
another profit? With such finH
\ process OF making money one would
think that &c gas would be possible
but it will never be possible in q
y zone man town." where the public
utilities and government are under
one and the same control.
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