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Bought Gas Company

Bought Gas Company image
Parent Issue
Day
4
Month
August
Year
1899
Copyright
Public Domain
OCR Text

Aun Arbor capitalistshave purchased the gas cornpany located in Marshall and the people of that city are to be cougratulated npoii the fact as they will flud their ligbting plant will be made up-to-date and that the price of gas will be chuapened. For that is tbe way the gas investors in Ann Albor who have pnrcbased the Marshall plant are in the habit of doing business. The Marshall Gas Light compny was owned by a Phüadelpbia company which owns a nnmber of plants, the Marshall plant not being large enongh to snit their city ideas. So tbey sold it to Ann Arbor parties for $30,000. The promoters of the new cornpany were Samuel Donglas, of Detroit and H. W. Douglas, of this city. A meeting of the stockholders was neld today and the following officers were elected: Directors, Moses Sea.bolt, Henry W. Donglas, Samnel Donglas, Charles E. Hiscock, and Mr. Fox, of Marshall. Moses Seabolt was elected president; C. E. Hiscock, vice president, and H. V. Douglas, secretary and treasnrer, and Mr. Fox superintendent. The stockholders in addition to the above are E. D. Kiune, Fred Schmid, M .T. Fritz, O. M. Martin, David Rinsey and William Wagner. Thp plant is in good condition, having 10 miles of gas mams. The Philadelplra company had owned it for eight years. The plant is assessed at 45,000. As the purcha&e price was 830,000 it would seem that in equity this assessment is toe high. The pres ent price of gas in Marshall is SI. 00 and the consiimption is abüut T,OOü,000 feet a year. Tlie company is capitaliübd at $45,000. It is not expected to sell the remaining 315,000 worth of stock. It is exjected to douüle the capacity of the works. The price of gas will be reduced. At flrst the price vrill be reduced to $1.50; 5,000 feet will be sold for $6.50 and 10,000 feet for $12. When the increased consumptiou warrants it, the prices will.be still further reduced. That is why the people of Marshall should be congratulated upon their plant falling into such good hands. H. W. Douglas, the secretary and treasnrer is one of the best practical gas men in the