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Updated: May 22, 2025
"We don't really care for the Brightlight Electric in the combination at all," said Mr. Sharpe, "but if you wish to come in at a valuation of five hundred thousand I guess we can find a place for you." "Let me understand," said Bobby.
Thereupon Bobby Burnit, President De Graff and Dan Elliston, representing the New Brightlight Electric Company, recently organized for three million dollars, came forward and prayed for a franchise for the electric lighting of the entire city, agreeing to take over the poles and wiring of the Consolidated at a fair valuation; and council was not at all obdurate, which was scarcely strange when one reflected that every member of that municipal body had been selected and put in place through the direct instrumentality of Bobby Burnit.
I think we can fix it so that you can get back your two hundred and fifty thousand. The deal's been worth a lot more than that to the Consolidated." "No doubt," agreed Bobby. "However, I'm not looking, at the present moment, for a sop to the Brightlight Company. It will be time enough for that when I have forced the Consolidated into the hands of a receiver."
Sharpe, "is at present capitalized for two hundred and fifty thousand dollars, and is a good ten-per-cent.-dividend-paying stock at the present moment; but its business is not growing, and I propose to take in sufficient capital to raise the Brightlight to a half-million-dollar corporation, clear off its indebtedness and project certain extensions.
Seeing that his wife and Garland were so pleasantly engaged, he very considerately turned into the drawing-room instead, and as he entered the drawing-room he lit a cigarette! Bobby, vowing angrily that there could never be room in the Brightlight for both Sharpe and himself, did not ring the bell. Instead, he dropped in at the first public telephone and 'phoned his regrets.
In the course of an hour Bobby was through with his morning allotment of mail and his daily consultation with Jolter, and then he called Johnson to his office. "Johnson," said he, "I want you to do me a favor. There is one block of Brightlight stock that I have not yet bought up. It is in the hands of J. W. Williams, one of the old Stone crowd, who ought to be wanting money by this time.
The old, worn-out equipment of the Brightlight Electric, and the fact that it was managed and controlled by men who knew nothing whatever of the business, its very president a young fellow who had probably never seen a dynamo until he took charge, were enough.
Have you seen the evening papers?" No; the morning papers had been enough for him. "Well, I'll tell you what they are doing. The Consolidated Illuminating and Power Company has secured an order from the city council compelling the Brightlight Electric Company to remove their poles from Market Street." Bobby caught his breath sharply.
Comparing the two concerns, Bobby felt that in the Brightlight he had vastly the better property of the two, in that there was no water in it at its present, half-million-dollar capitalization.
The Consumers and the United Companies never cared to enter that field, because their controlling stock-holders were also the Brightlight controlling stock-holders, and they could get more money through the Brightlight than they could through the other companies; and so they led the public to believe that there was no breaking the monopoly the Brightlight held upon their service.
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