Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-12-12
From the Cincinnati Gazette.
The Price OF Gas,


A correspondent informs us that there
was a gas controversy in London in l849
as there is in Cincinnati in 1864. There
was, too, a monopoly there, as there is here
The Company that controlled the business
seems not to have had an exclusive right
| to use the streets. The price of gas under
the monopoly was IS. per 1000 cubic feet.
Capitalists began to figure, and the result
of calculations was that gas could be fur
nished at ls. cd. A new company was
formed; pipes were laid, aud gas was fur
nished at this figure. After time the old
company bought in the new one and the
price was fixed at 4s., equal to ninety sf1
cents in American coin. Our informant
gives these figures from memory, but he
thinks he states them correctly. LoRd0n
| is a much larger city than Ctncinnatii con.
| seuuently there ia moro gas consumed
there than here, and therefore 1t can be
sold relatively cheaper. The more gas con.
sumed the cheaper it can DO furnished. %
| this nrinciple Cincinnati ahnnl5 10 sup
| piled with gas cheaper than smaller place;
| and this shows the estimate placed upon
the intelligence of our people by the Gas
Company, when 1t proposed to regulate
the price of gas by the average of Dayton,
| Indianapolis, Columbus, Buffalo, aud such
points, greasiug this dose by adding Ohica-
/ 90 and ST. Louis, where gas coal is much
| higher than it is here. The Company, We
think, might have added to the list the
private works of some of our Clifton neigh
bors.
Iu Pittsburgh, We understand, gas has
been supplied, if it is not still furnished,
at 81 s74 per 1000 cubic feet. The city
owns those works, aud they pay their way.
cinnati. So is coke. CinCicnnRti con-
sumes moro gas than Pittsburgh, in the
| proportion of population. The census OF
1869 puts the population of the two cities
as follows:
Cincinnati .."....."........ l6l 900
acknowledgements. 4S,OOO
We argue from these figures that gas
can be afforded in Cincinnati: at as low q
figure as in Pittsburgh. Yet the prices
compare as follows. If we are not in error
as to the present charge at Pittsburgh:
Cincinnati ................ 20
Pittsburgh, 1877
The Cincinnati Gas Company being
close corporation, it is difficult TO arrive at
any official facts, regarding the financial
machinery, bat We understand the sttua
ton to be about az follows: The cash in
Vestment by stockholders foots up $780,
600. Annual dividends Of l3 per cont.
have been declared and out of the surplus
earnings the works have been extended.
Upon the Investments thus made new stock
WAS issued, and divided. In this way the
capital stock has been increased to about
81. 100000, and the stock was recently
worth 225. Stockholders, We are Inform.
ed have been twice called upon for asses.
ments of and per cent respectively.
This is to be added to the $3.50, 900 preTi.
ously named as the cash paid in. From
thesa figures the reader can judge of the
actual cost OF gas in Cincinnati and the &C.
tual profits realized. We do not pretend |
to absolute accuracy 10 giving this state
meutY but We base the figures upon the |
best information we have been able to |
gather and most of it has been obtained |
from stockholders. If the city should par-
chase the works the price would be the |
actual cost, less the depreciation in prop.
erty. This would strike off the l26 pre-
MUM on the stock, aud bring it down to
simple par, or less. Now we have a sim
pie question in arithmetic to propose; If |
the Gas Company, while tho city has been
growing from 10000 to zoe, 600 has real.
ized such large profits on gas sold at So so,
what price could the city afford it at while
our population grows from 400, 900 to
40o,OOO2