The Bridgeport evening farmer., 1913-12-04

CTo be printed in instalments)
 Following statement of the facts which Repre price gas upon petition brought
 T5e contains interesting isFst6g way the puDe creation of sbSxs s2eo1Ooo securities M min f e dFss s Gi e Light
 Sy R1ssi n M is claimed that the price of in Bridgeport should
 E Statement For The Petitioners
 The petitioners allege that rate charged for gas by Bridgeport Gas Light Company is unreasonable and unlawful
 The Bridgeport Gas Light Co., supplies population of 14o oo0 Bridgeport vicinity 4849 began capital S3ooOoO by stock hodsrs 1eo4 S7oOO0o declaeds dividend being hundred share received two and onhird shares without is now but sisooooo is the entire amount directly contributed by the stockholders Of the o0o capital stock $70 represents the stock dividend $1O0O0O Citizens, Gas Co.,
 In l9Oi bondholders the Company got control of the Bridgeport Gas Light Company.
 The Citizens Gas Company chartered in 1885 built by with contracting company and paid Tor mainly by securities of value enormously of the physical value of the property could sell fuel but not
 illuminating The business unproable and in 19o1 at the suit of it's bondhoders foreclosure proceedings were of the nronert at The renor was annroved b the court The property sold courts order by Hanord Weed who represented the afore said bondholders, for s85OOo
 While proceedings progress bond negotiating Bridgeport GoHpany by the purchase of control of it's stock On 49O4 company offer Thorne representing bondholders Citizens Gas Co., to purchase the entire capital stock of the Bridgeport Light The control the stock delivered purchase price three dollars that If all the $300OO of stock then outstanding acquired the total purchase price would have been $9ooooo-
 majority of the then directors of the Bridgeport Gas Light retired the board at o'clock the afternoon of october directors representing of the Citizens Gas Co.,. immediately succeeded
 Fifteen minutes later these directors instituted proceedings necessary thirty three and onehird cent amounting to $7O0OOO; and purchase property bought S85 900 of 100000 four per gold bonds and November 5, 1901, the said property duredupon payment of $e5oooo of the bond issue and $toOo0o stock purchase price being S1o5OOoo
 securities which then and have since remained worth at 1easttheir par value.
 say holders bankrupt Citizens acting in their capacity trustees of the Bridge ror Gas Light Co., bought their own property themselves of the property for this purpose was merely representative of the bondholders.
 trustees bought their property of themselves property the purpose paid S Q that which had been sold under the hammer for worth than $4OOOOO obtained thereby rich profits themselves separate and independent pant which could not be proably used in it's completeness sn the ebusness of the Bridgeport Gas Light Co,
 There acquired part of this property A miles of mains substantially mile of which parallelled main of the street. practically every pipe paraed service pipe of the purchaser property largely useless wastfu the udioous and conduct of the gas bus of the Bridgeport Gas Light Co.
 15 minutes after they acquired control of the Light Company these bondhoders of the deunet had increased the outstanding capital stock of $3OOO0O $11OOOOO and it's debt s5OOOO there had $35OOO in securities be charge against the public there $2 100000 and not n nge put the property bought of Weed which of the character, value and usefulness described
 1 WHAT PROPERTY?
 Asn every case question arises What pres nt value property regulated business?
 value Of plant and equipment stands in the fd of the company $3OO0OOO But it is admitted