The New York herald., 1869-03-06

l
stock, which Is very moderate; contI not tell the
value OF the property, that IS moi IA my depart
dividends semi-annually. and whenever we are
| rich enough we give an extra uiviaena
the q &. ae ma,
think they do not come often enough gas dividends
are quite dnerer. from osher dividends, as we are
Liable TO be superseded by some new discovery.
The Chairman-so you think YOU ought to make as
mrch as possible while yon can.
Wtness-Self- preservation Is the nrst law OF ma
BY Mr.. La Bau-I think II we stopped business
to-,iay our real estate might possibly bring haif a
there Is million dollars In assets not; can't tell
how the president could make II out; that surplus
has certainly beel accumulated from the pr0fts
OF the company; we had great deal OF property IN
| different parts OF the city. New street and other
pressure In different places; OF course sold those
when property increased In value; this real estate
made BY the president be true that we have 81 900 900
/ OF personal property we are richer than thought
we were; in accordance with the capital authorized
| $5o0,0o0 appears 10 be lorge; could have ascer-
tanned these matters II know what was wanted.
Mr.. La Bau-That arises from the position taken
by the president ON the first day-antag0nistlc at
| once.
| BY the Chairrnan-About the issue OF any extra
shares is matter must refer to the stock book for;
we have more stock than our capital permits; we
had not million and distributed the shares to
make up the million; the capital paid IN was
S1500o0 the extra issue was about i've years ago;
| we had reservoir in New street, two in Church
IL did not FUN the object for which the reservoir
was intended; ! don't think the district In the
orawal OF these tanks; don't think there is much
caase for complaint from the newspapers.
+. r. Mccarthy, OF the Ho imam, testified to good
quality OF gas furnished Iae hotel and fair bills
J. T. J. X1ques, Of 372 Canal street, beng sworn
tesLiied as follows:-I am consumer OF gas fur
nished by the New York Gas Company; during the
past five six years my bills have been increasing
so much as TO make me believe there was something
wrong; asked for new meter and got 1t, but with
four do lars up to twelve dollars and then sixteen
dollars, and rne month OF February. shorter month
and with one burner less In use, the bull Is over
eighteen dollars.
Joseph Sampson, a etockholder in the Manhattan
and New York companies, testlned-Am direc-
tor in the New York Company; the dividends are
declared regularly In May aud November, five per
pes eacn m e other are @ ceG area when 70
1865; In May five per cent, another OF twenty and
another, ] think: OF twenty, but | am sure the
pose the dividends would average that for some
years-how many do not know; the increase OF the
stock was male at the rate OF share to three; at
the last sale OF the stock bought some at three
hundred per cents do not know as 1t would gene
rally @ be considered very good investment; have
large surplus; my Impression Is that there Is sur
plus on the books OF about as much as the capital;
think the last balance sheet shows two million dol
lars, which is one million dollars capital and the
surplus: have been q srocknolder In the Manhattan
highest dividends from that company; received the
certificates OF indebtedness and seven per cent on 1t.
Henry Magonge business manases na ger q so9ss snars
was no complaint to be made about the gas fur
nlshed to the theatre.
Being examined BY Mr.. Bergen. witness went into
an explanation OF the preparations made for the in
PRODUCTION OF the new oxygen light into the theatre
chairman, testied-f am interested only in the an.
thracite coal nv being director in the Delaware,
Lackawanna and Western Railroad, which Is en-
gagged in the anthracite coal business; the gas COM
panies do not that kind OF coal, and therefore
know nothing OF the prices they paw for coal:
YORK. Manhattan and Metropolitan Gas companies;
think the last dividend from the Mc;ropolltan was
twelve and half per cent: the capital or the COM
pany Ia s250o, ,OOl I am director and know nothing
OF the business OF the company
Witness testified 10 the dividends Of the New York
Company last year and 10 the certificates OF iudebt-
| edness, which had already been fully explained.
| samuel Sloane being sworn and examined testi-
| ned:-Am director OF the Manhattan Gas Com
pany: think received three dividends OF five per
cent each last year. but not sure about that; do
hold any OF tue certificates OF Indebtedness
| had some but sold them: do not know the aggre.
gate amount OF receipts or expenses or the number
| OF consumers.
| Thomas f. Norris, manager OF the waverley
| theatre being sworn testiaed-i have two COM
plants to make. ore as manager and another as a
citizen at my own honse No. 10 West Tenth street;
about year ago was called away to Philadelphia,
| and was detained about week; the collector called
on Monday and stated that he would call on rhurs-
day he called til, day stated. and Mrs. Morris told
him that woud be home on Saturday, and as she
saa not o morey Mo as t. hand d 70 pay he % woud call
| men came, went down INTO the cellar and cut the
gas or: applied at the of'ice. and was tod quite
| cavallerly 10 pay my bills promptly and the gas
would not be cut or: the same thing occurred
few months since. At the theatre we had
| used gas some three days and the bill was about
| four or five dollars; We received notice that
II the new occupant did not renew the de-
post the gas wonld be cut or; | sooke to my
backer Mr.. Feeder, and he said there was a de-
post tnere already, paid by Mr. Loon OF 500. which
| had not been removed; went to the theatre next
morning and found the gas had been cut OF and my
| men could not work: Immediately sent 800 up
but the company peremptorily refused to put the
aexof,s che
come up anl through the forms prescribed bv the
company; we could NOS find Mr. Reeder that day. and
matter; have been consumer Of gas at my resi-.
dence for several years. the bills were always paid
promptly; taey were formerly paid In the name OF
| nv mother-in-law. Mrs. John Bougham: the same
person has been collecting the bills from my house
| as long as have been there; complained TO the
COMPANY also that NV bills were two three times
larger during the past six months than they
were ever before; thought there was something
wrong about the meter. but tie man whom they sent
| there said there was nothing the matter with the
meter and the bills still continue the same.
John - Bouton. one Of the editors OF the Journal
ne5day night last we have had no cause TO complain
OF the quality or quantity OF gas before that we had
serious cause TO complain; sometimes the gas was
bad we were obliged to candies; the quality of
the gas Is about the same In all parts OF the house;
the canse believe that the gas is poor there
also CON laInr OF tiIe bad o ior from the ras which
| by the way ~ not noticeable since Wednesday; do
not know anything about o'siructlons IN the pipes,
| but only know the fact that the pipes have not
| been changed or intericre1 with. ami now, since
Wednesday, we have al the light we want
AZ tins stage OF the proceedings the committee
| took recess until half-pas. seven O'Clock in the
evening.
|
| Evening Ses-iou-The Worse the Gas the
Higher the Price-Furtlcr Revelafions-The
Brooklyn Gas Company.
| Last evening the committee investigating the Gas
monopolies resumed its sittings at half past seven
o'clock.
Garrett n. Clute, OF No. 279 West street. was the
nrst witness examined. lie deposed that he was a
gas consumer AMI had reason TO complain OF the
charges made; on one occasion q man came TO
measure the gas AMI found that 500 feet had been
burned: he came avan the next week nd said that
200 feet had been burned; witness told him thar he
was burning oil and dld not use so much;
he came Afterwards with new meter and
subsequently presented hill for 40 90: that
was an excessive charge, nothing but oil had been