Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-10-11

wiling 20 90, rhsy viii al al lines kno- that
that Is all IL is costing them, and they would be
eoatented even in paying high price. They
wonld be contented to pay the present price IL
they believed IL vas only paying fair profit GA
ias esptai invested. after paying the expe aees Of
mshufAciuEe. but the general belief l. they are
paving tar beyond this.
The Council would exercise great wa,chfui-
ness over rs management. for they would be
required to pay the interest, and also
secure to the citizens gas az the lowest possible
price, la few months Ne would all come TO
understand the matter and manage with econ
omy.
IL undoubtedly true tina. private oompanie.
can and DO manage the matter more economi-
cally than cities, bet the reason The Committee
preferred to see the city own the works was tha,
such organizations are CT necessity to some great
extent monopolies, and become rich and poser
ful, and instead of being our useful servants
they become our masters, and use the very money
they make OF the people, by the monopoly the
people gave them. to retain their power.
But suppose We will say that is would not be
right for consumers OF gas TO pay for extensions
and finally FOR works. TO be owned by citizens
in commop, aud that We should not attempt any,
thing more than to furnish gas, paying 10 per
cent. on the Investment, and let extensions he
new stock, aud then allowing capital of 5000
QUO 10 begin with, tho dividend would amount TO
$50, 900. at the cost Of 81 80 per 1000 for an
amount equal 10 that consumed last wear, would
be as before s32 .259 90, requiring total re-
venue of $52 ,259 go. and that the gas could be
furnished TO all consumers at 81 ~ per 900.
A statement as follows, from the Gas Com
pany, appeared ia the daily papers OF October
With these statements aud obsesy atoms, re-
Ter the citizens OF Indianapolis. respectfully. to
the exhibit oi NessIs. Anderson and Vsnlsn-
bingham. as ioloHs. ID. ) BKArY.
lsDIASAroLIs, May 49, 1865
Estimated profits of the Indianapolis Gas
Light and Coke Company. Tor the current year
OF 1901
Dr.
Coal on hand January Isl, is64, nm
valued at....... sS.sut CO
Cost Of coal, and expenses Of man
=, utAetnring.. -. ........... 1870 SO
o..
Sales of 6as, Coke, and Tar,
1864. ................t7 g,S0l 81
Coal hand December 3st ls6i 1855 TO-s93 s.s 81
ny balance, net profits In ls6f... ell sos 50
We certify the shove 10 be correct, from q
careful investigation OF the accounts.
GEo. p. ANDERSON,
l.. NANLANDINSHAN
This statement alleges that their sales of gas,
|
10 report aid before this Council by the Gas
Committee. July "a last, see page LIS OF Com
ell Pr0ceedings) was u statement sigued 10y l..
Naulandingham. Secretary OF the Company. tina,
the number OF lamp posts was 533-at $40 per
amp, amounts 10 Sl0, 6t0
The TIeisurers last report shows that they
we'e paid for street lamps. from Nay Is. 1854
10 May TO- 1865. $40 979 u, Council Proceed
ings, July 10, 1865. p. 1857 and for previous
81 -.
June g. 1864 % A portion of this was con
sumed in the city buildings. and would be
counted in The amount charged to private coE-
sumption. Hence We will charge the street
lamps with ST., EGO. The same statement from
Mr. ,anlsndinghsm Tecites that they sold. in
1854. to private consumers. Sic. 997 500 For
this they charged s. 80 pen 600. and this would
ieallze $I6,iSs 10, ora total OF So .l4S 15from
IN gas aloue, while coke and tar is we'll
known 10 be large item vi profit.
he expense account il said 10 be, for that
year, $I1,916 80, but we notice this includes
cost oil coal, aud there was coal 10 HE amount
of SO Sc. 10 more purchased than was con
sumed, and hence the actual expense for the
year was bul ST., 4O9 %; and ibis from sSl,.
~ 10 would leave tie profits SIS, b. aud
il VIC add but 5000 for coke anu tar, ma es the
pio6ls s23,139 -
HE expense for tie year WAS then Sos. lU9 23
makes the bare cost of manufacture 50 II per
i,VoO In Pittsourg, the cost. including every
expense, even salaries aud taxes, was ~ cents
per 900, about % per cent OF the alleged
cos, here
Perhaps II nay be said that gas eau be made
much cheaper in Pittsburg than here because
coal is cheap there. la order 10 see il the diff
terence IS IN the coal, We will suppose the Indi-
annapolis Company obtained their coal free of
cost and If i; costs here "a cents per bushel and
three bushels are required 10 make 600 feet,
and we allow nothing for the coke and tar,
We might then strike 81 cents from the cost, but
We lind the ba.e cost is still - SO. so that it lie
evident that the difference is not in the coal. as
II sull costs three times the Ptt.burg price.
Should We also furnish the lime tree worth 40
cents per bu.hel, and allowing one busLel TO the
,VUO, which is more than 10 required, and the
bare cost is still 81 &C. or nearly q. times the
Pittsburg cost
We do not suppose that labor is any higher
here than ia Pi;tsourg. but II the average pro-
duction of the Company is $1,000 feet per DAY,
and they employ an average of Is hands, at an
average of about 81 80 per day, aud the cost of
the labor is III cents on each ,O0U, but even il
this was supplied TO the Company free of expense,
according to their estimate, the bare COS. would
still be 81 % per 900, so that if they should
be furnished free 0f cost with all the coal. lime
ana labor they require, the bare is still 6o per
cent. more than in Pittsburg after paying for all
these things; but while coal costs more here
than In Pittsburg, coke is also worth more here
than there. and the difference in return profit
from this source would be equal TO At least Is
cents on the 900 in favor OF indianapolis over
fittsourg, and this after creditng the coal ac-
count with Its own profitable resdum. We fur |
Fish the coal, lime aud labor free Of cost, and
according 10 the CompsDy's estimate, the bare |
cost OF manufacture for other expenses is 81 40 !
per QUO, or 30 per cent more that the cost in |
Pittsburg. after not only paying for these chief
items. out also all salaries, t4xes, and all and
every expense whatever, and is 4 cents per 200
more than the average sale prices in Pit.sburg. |
upon which they declared dividends of 10 Der /
cent, aud carried over a surplus earnings equal
to n per cent. more. The difference, then, |
cannot be in the coal. lime and labor, for when |
they get these all for nothing their gas costs
them, TO make according TO their own showing |
10 per cent more than tue cost in Pittsburg
where We may at least presume they cost some |
thing.
In the Sth volume OF the American Eneyco- |
pedis, p. 81, in a scientific article, il is stated |
that only one fourth OF the coke made 10 used in
heating the Tetorts, which would leave more coke
in quantity tor sale than the quantity of coal
usei.
There should be some provision in reference
TO future extensions petition should be pre-
sented to the Council, with guarantee from re-
sponsible persons. 10 pay for certain amount
Of gas per 900 feet OF main, whether used or