The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1863-07-16

AFTER BOUT TOW
Portland Gas Light Company.

Light Company was held yesterday afternoon,
Il. III. Davies, Esq, President, presiding.
The report of the Directors was read and
accepted. 1t is as follows:
AT the time of the annual meeting of the
stockholders, the controversy between the
City and the Company respecting the price OF
gas for the street lamps and public buildings
was pending before referees, chosen by the
parties according TO the provisions Of the Com
pany's charter. Their award was afterwards
made, establishing the price to be the same as
that charged TO individual consumers. A de-
cision so just in itself that we believe it meets
general approval. while its beneficial effect on
the business of the Company has not been
limited to the mere difference in our receipts
from the City that discrimination in their
favor would have caused.
A different decision would have LED 10 SINH
lar controversies with other large consumers
whose claims could not be yielded 10 WITHOUT
an increase of price to the smaller ones-and
the latter more numerous class would regard
any discrimination as unjust, that should seek
to impose a higher price on those less able,
generally. to pay it. Thus series of disputes,
that would have been injurious TO the Com
many, and would finally have resulted in no ben
Elf 10 any one, has been prevented by the de-
csion of the referees, establishing the rule that
one price is to be charged to all alike.
Under it, no increase OF the price Of gas has
yet been found necessary, Notwithstanding the
large advance in the cost of coal and labor
and the Company have thus far paid the In
ternai Revenue tax of ten cents per 1000, with
out adding it to the gas bills, thus in effect
reducing the price realized to S2,75 per 1000,
which is very low for this place, as COMPARE
son with the price charged in other cities
throughout the country--a list of which can
be seen at our Office will readily show.
There has been no extension or alteration
of the works of the Company of any conse-
qucuceduring the past year. The works are all
in a satisfactory condition and have been carri-
ed on without accident or interruption by our
engineer, Mr.. Barker, 10 whose constant care
and skill we owe it, that with but one gas hold
er and one exhauster, a fall supply of light has
not been wanting for single night throughout
the year.
The fire apparatus mentioned in our last
annual report, connected with the steam pump,
has proved of essential service in saving our
buildings at the recent fire that consumed the
tar works on the adjoining lot Within four
minutes after the alarm was given, the hose
was run out, the connections made, and pow
erful stream was playing on the wooden build
ings most exposed. Much damage would
otherwise have been done before the fire de-
pariment could get to work. The old build
ings consumed have long been a cause of anx-
iety 10 the Directors, so much so that we made
an offer last year to purchase the land, mainly
TO get rid of them. Since their destruction
the risk of fire to our works is regarded as
very small.
The office of the Company he's been removed
TO more convenient building, aud more cen
trail location, without any increase OF rent.
The removal was subject Of careful deliber-
alton by the Directors, as such change is al
ways attended with Inconvenience and expense.
A lease for ten years has been taken, at a rent
of two hundred dollars per year for three
rooms, which, with shed for tools, &c. will
give all the accommodation the Company will
probably want for that term.
The whole amount of receipts from sales for
the past year year is $6s, 570-about three
thousand dollars more than last year.
The total consumption OF gas is q ,109339
feet-about one and half million more than
last year.
The number of consumers on June Both this
year was 1859 against 1874 last year.
OF new main pipe, 1856 feet only has been
laid during the year, making the whole extent
of our mains a little over seventeen miles and
half.
Two street lanterns have been put up max
ing the whole number 29I.
The Directors have not yet made the usual
purchases of coal for the ensuing year, on ac-
count OF the high rates of freight and exchange,
and the Company are in debt for a cargo re-
ccived last year, the payment for which has
been deferred, with the consent of the sellers,
until we could remit on more favorable terms.
The treasurer's account therefore, shows a bal
ance of cash on hand larger than usual. aud
nearly sufficient, after paying the dividend Of
four per cent, to pay all our debts, including
the taxes for this year.
BY order of the Directors,
EDWARD III. DAWES, President
The report Of the Treasurer, Hon. James
T. McCobb, was presented and accepted.
From it we learn that the receipts from all
sources, including temporary loan of slloo,
were s77,093.72. The disbursements, includ-
ing the payment of the temporary loan and
dividends amounting to s23 $3.50, .werc $40,
265.1s. The amount paid'U. S. Revenue tax
was 81 ,S53.l3.
A ballot was then taken for Directors for
the ensuing year,
Whole number of ballots l575