the date of the acceptance of this ordinance, have built and completed, or otherwise acquired, gas works in said city sufficiently extensive to enable it to manufacture and distribute gas to an amount not less than 5,000,000 cubic feet in every thirty days, and shall have expended on such gas works at least $100,000 within twenty-four months from the date of the acceptance of this ordinance, but the time during which any legal proceeding shall be pending, whereby the said company shall be prevented from or delayed in building and completing or acquiring such gas works, or in expending such sum of money, shall be excluded from the time herein prescribed for building, completing, or acquiring of such gas works and the expending of said one hundred thousand dollars ($100,000).

11. This ordinance shall not be in force as to said Ogden Gas company until it shall have been accepted by said company, such acceptance to be made and notice thereof in writing filed with the city clerk within ninety (90) days from the passage of the same, nor until said company shall have given and filed in the city clerk's office a good and sufficient bond, with two or more good and sufficient sureties, in the penal sum of $100,000, conditioned that the said company shall and will within three (3) years from the date of acceptance of this ordinance by said company build and complete, or otherwise acquire, gas works in said city, sufficiently extensive to enable it to manufacture and distribute gas to an amount not less than five million cubic feet in every thirty days, and located within the limits of the city of Chicago, and that the rate to be charged for gas furnished by it to consumers shall never exceed the rate named and specified in section 8 of this ordinance, and to pay all damages which the city of Chicago, or any individual consumer of gas manufactured by said Ogden Gas Company, shall suffer by reason of the failure by said company to perform any obligations or conditions of this ordinance, such bond and sureties to be approved by the mayor.

12. The liability of such Ogden Gas Company to said city, or any person who may be injured by the exercise of the said company of any of the rights and privileges hereby granted shall not be limited by the penalty of said bond, nor shall the remedy against said company be confined to said bond, it being understood that such remedy is merely cumulative, and that said city of Chicago and any person or persons shall have the same remedy against said company as it or they would or might have if no such bond were given. In case the duties of the Department of Public Works shall be devolved by said city on any other department or officer, the permits and licenses herein mentioned shall be applied for to and issued by such other department or officer.

13. The rights and privileges hereby granted are upon the express condition that said company shall not at any time, directly or indirectly, sell, lease, or transfer its plant, property, rights, or privileges herein authorized to any other gas company, trust or corporation now or hereafter engaged in the manufacturing and sale of gas in the city of Chicago; and if the said company shall directly or indirectly sell, lease or transfer its plant, property, rights or privileges herein authorized to any other gas company, trust, or corporation now or hereafter engaged in the manufacturing of gas in said city, or if said company, having commenced to manufacture gas, shall cease for the period of more than ten (10) consecutive days, unless by reason of unavoidable accident or injunction, to furnish gas through its pipes as required by this ordinance, then the rights and privileges hereby granted shall cease and be of no more force and effect, and the entire gas plant of said company, together with all its machinery, tools, appliances, mains, pipes and other property of every name, nature and description, shall be forfeited to said city of Chicago as and for agreed and liquidated damages for the failure of said company to comply with the requirements and conditions of this section of this ordinance.

14. The rights and privileges hereby granted by this ordinance are granted for the term of fifty (50) years from and after the acceptance of this ordinance, and the rights and privileges hereby granted are upon the further express condition that at the end of said term of fifty years, from and after the acceptance of this ordinance, the said City of Chicago, shall have the right to purchase the entire plant of said company, and all its property and effects of every kind and description within said City of Chicago at an ap

praised value which shall be ascertained and determined by three competent and disinterested appraisers, who shall have full access to all books, papers, and other documents bearing on or appertaining to the subject, and such appraisers shall be selected in the following manner-to-wit: One of said appraisers shall be appointed by the said City of Chicago, one by said company, and the two so celected shall choose a third, and if said two appraisers can not agree upon a third, then such third appraiser shall be selected by the Chief Justice of the Circuit Court of Cook County, Ill., and the said three appraisers so chosen shall within six (6) months after the appointment of the last appraiser make report in writing of the value of said property to said City of Chicago and to the said company, and the said City of Chicago shall have the option at any time within six (6) months after the receipt of said report, to purchase said plant and property, together with all its appurtenances and equipments, at the appraised value so fixed by said appraisers; provided, however, that if said city shall so elect to so purchase said gas plant, then said company shall have the right to operate the said plant and receive the profit therefrom during the time such arbitration is in progress and until the same shall be completed and the purchase price as fixed by the arbitration has been paid.

15. This ordinance shall take effect and be in force from and after its passage.

STATEMENTS AND CERTIFICATES.

For value received the Chicago Gas Trust Company guarantees the payment of the principal and interest of this bond, and to further secure the same has placed with the Fidelity Insurance, Trust and Safe Deposit Company of Philadelphia, all the shares owned and controlled by it of the capital stock of other companies, and by resolution of its board of directors has caused this guarantee to be signed by its secretary, and its corporate seal to be hereto affixed this 19th day of November, 1887.

[SEAL]

GEORGE O. KNAPP,

Secretary of the Chicago Gas Trust Company.

Chicago Gas Trust Company organized April 29, 1887.

Circular statement sent out by Fidelity Insurance, Trust and Safe Deposit Company when paying interest on their gas certificates. Taken from the New York Times of February 26, 1892:

PHILADELPHIA, PA., Feb. 25, 1892.

(Copy.) The Fidelity Insurance, Trust and Safe Deposit Company will distribute through the Central Trust Company of New York, on and after March 21, to the holders of certificates of equitable interest in the stocks of the Chicago Gas Companies, of record March 8, an amount equal to 14 per cent. of the par value of their holdings of the certificates of that company. The transfer books will close March 8 at 3 p. m. and reopen on March 22.

JOHN B. GUEST,
President.

In 1893 the Fidelity Insurance, Trust and Safe Deposit Company made a script dividend. Following is a copy of the script certificate:

EQUITABLE INTEREST CERTIFICATE TO THE CENTRAL TRUST COMPANY.

N. Y.

No.......

This is to certify that..

equitable interest to the amount of.

Dollars

is entitled to an undivided dollars in certificates of in

debtedness of the Peoples' Gas Light and Coke Company of Chicago, Illinois, deposited with this company, amounting to... described.

dollars as above

This and similar certificates, when presented in amount of $1,000.00, or multiples thereof, are exchanged for such bonds of said Peoples' Gas Light and Coke Company, when received by this company for that purpose. CENTRAL TRUST COMPANY, New York.

(Signed)

Alvah W. Ketcham, being first duly sworn, on oath deposes and says, that he is a citizen and resident of the city of Chicago, in said county and State, and has been for a period of about eight years last past; that from about the month of April, 1890, until November 23d, 1893, this affiant became and was familiar with the affairs and business, books, papers and documents of the above mentioned respondent, the Chicago Gas Light & Coke Company, and of the People's Gas Light & Coke Company, the Consumers' Gas Company, the Equitable Gas Light & Fuel Company, the Hyde Park Gas Company, the Lake Gas Company and the Suburban Gas Company, each of them being corporations organized under the laws of the State of Illinois, and engaged in the business of supplying gas to the citizens of the city of Chicago, in said county and State.

That in said month of November, 1893, the books of said four gas companies first above mentioned, respectively, showed that the Fidelity Insurance, Trust & Safe Deposit Company, a corporation existing under the laws of the State of Pennsylvania, and having its principal office in the city of Philadelphia, in said State, held a large majority of all the issued capital stock of each of said four gas companies first above mentioned, as follows, viz.:

That the books of said Consumers' Gas Company showed that whilst the capital stock of said company was fifty thousand shares, of the par value of five million dollars, that twenty thousand shares belonged to the company as treasury stock, and the same were deposited with the Central Trust Company, a banking corporation of the city and State of New York, and that no certificates of the Fidelity Insurance, Trust & Deposit Company, hereinafter referred to, had been issued against the said twenty thousand shares of stock, and that the Consumers' Gas Company's trial balance showed that said stock was an asset of said company as treasury capital stock.

That said books of each of said four gas companies, respectively, showed that for several years prior to November 23d, 1893, the same state of affairs

existed with respect to the said shares of stock so held by said Fidelity Insurance, Trust & Safe Deposit Company, and the said twenty thousand shares of said Consumers' Gas Company, held by said Central Trust Company.

That in said month of November, 1893, the books of said Suburban Gas Company showed that it had a total capital stock of five hundred shares, of the par value of fifty thousand dollars, of which four hundred and ninetythree shares stood in the name of E. J. Jerzmanowski, trustee for the benefit of the said Chicago Gas Light & Coke Company, and one share in the name of each of the seven directors of said company, respectively; and the whole of said five hundred shares was carried on the books of the said Chicago Gas Light & Coke Company as an asset of and as belonging to the said company. That in said month of November, 1893, the books of the Hyde Park Gas Company showed that it had a capital stock of three thousand shares, at the par value of three hundred thousand dollars, of which two thousand, nine hundred and ninety-three shares stood in the name of said Central Trust Company of New York, as trustee, and that seven shares stood in the names of each of the seven directors (one share each) of said Hyde Park Gas Company.

That in said month of November, 1893, the books of said Lake Gas Company showed that it had a total capital stock of eight thousand shares, of the par value of eight hundred thousand dollars, of which seven thousand, eight hundred and ninety-three shares stood in the name of said Central Trust Company of New York, as trustee; forty-six shares stood in the name of, and as an asset of said Lake Gas Company; three shares in the name of N. C. Miller, two shares in the name of George F. McKnight, and seven shares stood in the names (one share each) of the seven directors of said company.

That said books of each of said three last named companies, viz.: The Suburban Gas Company, the Hyde Park Gas Company and the Lake Gas Company, showed the same facts with relation to the capital stock of each of said companies, respectively, for a number of years prior to said month of November, 1893.

That at the annual meetings of the stockholders for a number of years prior to the said month of November, 1893, the records of said Chicago Gas Light & Coke Company, of said Equitable Gas Light & Fuel Company, of said People's Gas Light & Coke Company and of said Consumers' Gas Company, showed that the capital stock of each of said gas companies, held by and which stood in the name of said Fidelity Insurance, Trust & Safe Deposit Company, and voted by it or its proxy, at the stockholders' meetings, of each of them, respectively, elected the directors of each of said companies.

That the directors so elected for the year 1893, of each of said four gas companies, were as follows, viz.:

EQUITABLE GAS LIGHT & FUEL COMPANY.

Directors-George O. Knapp, C. K. G. Billings and E. J. Jerzmanowski.

PEOPLE'S GAS LIGHT & COKE COMPANY.

Directors-George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, E. C. Benedict and F. S. Winston.

CONSUMERS' GAS COMPANY.

Directors-George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, E. C. Benedict, F. S. Winston, C. K. Wooster, William J. Campbell, L. A. Wiley and E. A. McGuire.

CHICAGO GAS LIGHT & COKE COMPANY.

Directors-George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, E. C. Benedict, F. S. Winston, C. K. Wooster, W. J. Campbell, L. A. Wiley, E. A. McGuire, Walton Ferguson and J. B. Cohrs.

-17 L. S.

That the books of each of said companies showed substantially that the same board of directors had been elected for a number of years prior to November, 1893, with few changes.

That the books of said Suburban Gas Company, for a number of years prior to November, 1893, showed that the board of directors of said company was elected by the stock so held by E. J. Jerzmanowski, as trustee for the said Chicago Gas Light and Coke Company, and that the board of directors for several years, immediately preceding the month of November, 1893, were respectively elected for each of said companies by the capital stock thereof, held as above stated by the Central Trust Company of New York as trustee.

That the board of directors of said Suburban Gas Company for the year 1893 was as follows: George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, F. S. Winston, C. K. Wooster, W. J. Campbell and J. B. Cohrs, and that such board of directors had been elected for several years prior to said month of November, 1893.

That the directors elected for said Lake Gas Company for the year 1893 were as follows, viz.: George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, E. C. Benedict, C. K. Wooster, L. A. Wiley and W. J. Campbell, and that said board of directors had been re-elected for several years prior to the year 1893, with few changes.

That the board of directors of said Hyde Park Gas Company for the said year 1893 was as follows: George O. Knapp, C. K. G. Billings, E. J. Jerzmanowski, E. C. Benedict, C. K. Wooster, L. A. Wiley and W. J. Campbell, and that said board of directors had been re-elected for several years prior thereto, with few changes.

That this affiant does not know of his own personal knowledge the terms upon which the said Fidelity Insurance Trust and Safe Deposit Company holds and has held the fourteen million, three hundred and eighty-two thous and, three hundred and seventy five dollars, par value in the capital stock of said Chicago Gas Light and Coke Company, said Equitable Gas Light and Fuel Company, said People's Gas Light and Coke Company, and said Consumers' Gas Company, but he has been informed by the directors of said four gas companies, and also by their officers, and he believes and states the same on such information and belief to be true, that the matter came about in the manner following, viz.:

That in the year 1887, certain persons bought up a large majority of the capital stock of each of said four gas companies last above named, and after having obtained a majority of such capital stock, or whilst they were so obtaining the same, and about the 29th day of April, 1887, they incorporated under the laws of the State of Illinois the "The Chicago Gas Trust Company," with a capital stock of twenty-five million dollars, divided into two hundred and fifty thousand shares of one hundred dollars each, and thereupon assigned said shares of stock over to said Chicago Gas Trust Company.

That all the property of any considerable value said Chicago Gas Trust Company ever owned was said 292,611 shares of the stock of said four first named gas companies of the par value of $14,382,375.

That afterwards, in the year 1888, in a proceeding commenced in the Circuit Court of Cook county by the People of the State of Illinois on the relation of Francis B. Peabody by the then Attorney General of said State, the said Chicago Gas Trust Company, to such information, filed numerous pleas, wherein it set up that it had purchased the majority of the shares of stock of said four first mentioned gas companies, and in one of said pleas made the following statement, viz.:

"And by this warrant the said Chicago Gas Trust Company for all the time in said information, in that behalf mentioned, hath used and exercised, and still doth use and exercise the said power, liberty, privilege and franchise of purchasing and holding the capital stock of gas companies in the State of Illinois, as well as it might, and still may, and by virtue thereof the said corporation, the Chicago Gas Trust Company, by a vote of a majority of its stockholders, having elected to purchase shares of the capital stock of said four companies, to-wit: The Chicago Gas Light and Coke Company, the