The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1868-08-30
OrrIcR KEoKuK Gas LIGHT AND
CoKE COMPANY.

I
COKE COMPANY.
KEoKuK, Aug. ~, 1868.
Mn. EDlToR: l take this method Of
bringing Z matter before the public, in
which most Of our citizens are more or less
interested.
There has recently been presented to the
City Council Of Keokuk,a petition containing
complaints which are in substance as follows,
viz :
/. That the Keokuk Gas Light and Coke
Company has become complete mono
poly.
2. That it's charges are enormous, and
that it is con6dentially believed that the rate
Of charges Of said company are higher
than is charged by companies in any other
city Of the United States.
8. That the article of gas furnished, in
this city, 10 much inferior in quality to that
furnished in other places.
The yrayer of the petition asks the City
Council to reduce the present rates,
charged BY the company for gas to private
consumers, which is $3.50 per Thousand 70
% per thousand.
The company has at the present time
80 8 private consumers, and it appears that
said petition wss originally signed by So OF
them, some Of whom, however, have taken
taken their names off the petition.
Now, in relation to the complaint. "that
this company is complete monopoly" we
would say for ourself land We think in SO
doine, We reflect the sentiments of the other
stockholders) that We would be glad to be
relieved from such = monopoly, and will
most cheerfully hand the whole concern
over to the petitioners at any time, when they
will put their money in the place Of ours
for the stock holders have never received
one farthing Of dividends on their stock,
since the company was organized, which was
twelve years ago, owing to the unremunera-
tive prices charged by the company fol
gas.
In the FIRST place there was one hundred
! Thousand dollars expended by the company
previous TO 1858, in establishing the works
and getting the business fairly under way
| Fifty thousand dollars Of said amount wal
represented by that amount Of stock, and
| the remaining Fifty thousand in the bonds o.
the company, bearing ten per cent. Interest
and which are now held BY various persons
| and on which the interest has to be paid
substantially.
Since that time, there has been expended
by the company, in extensions Of street
mains, on station works, &C., and in paying
| the interest on the Bonded debt, over and
above the earninas Of the Company, $42, 100
which is now also represented BY stock
| making the present amount Of stock So2, 100
For the use Of this money, the stockholders
have not, Is yet, received one farthing.
| Previous 10 1860 the company Was author
lied 70 charge but 50 so per thousand cubic
feet, for Gas to private consumers, which wal
less thsa wss charged BY any other compan,
on the Mississippi River
During that period, the earnings Of thu
company were insufficient to keep up ,h'
works, and pay the interest on the Bonded
| debt BY over $4,000.
Id 1860, tho City Council authorized thu
company 70 charge s. SO per thousand, which
has been the uniform price charged by thu
company ever since, and which has barrel.
enabled the company to keep up the works
and pay the interest on the Bonded debt.
The only encouragement the company has
1t this time, in running the works al Thu
present price, is, that the probable increased
consumption Of Gas, - the city grows il
population, will also increase the net earn
| ings, 20 . to enable the company ultimately
| to nay : small dividend upon the stock !; bu
If the price il reduced, that encouragement
will no longer exist. When the city author
| lied the company, in 1860, to charge 81 s.
per thonsand, it reserved the right to reduce
the price, after the expiration OF two year.
to sum not less than S. SO per thousand
Said petitioners now asks the; City Counci
| q exercise tAas right. ! trust that they vii
make thorough investigation Of the matter
before thsy asaemps TO oct in the premises.
4 In rslatioa 70 the second complaint, viz
That our charges for gas are enormous, ant
that it 3 con- dcstly belieed that the rate o
charges ere higher than is charged by com
panies in any other city in the United States
I nusa say that | am At . loss to conceive
upon what evidence the petitioners base the
assertions.
Besief is usually based upon some kind o
evidence. am therefore inclined to th,
epision that the following facts could no
jDsoibly have been before them, when the,
i signsd the petition, viz:
| The ga companies in the following town