The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-01-11
The Ola. Question-Hear the Other

reau the CITY newspapers SSP!
Intelfqencsr one would think the
Wheeling Gas Company a monstrous
organization of wicked men banded to-
gether to ruin the peace and destroy all
hopes of future happiness of the clti-
Gems of Wheeling. But various as have
been the signatures appended to the
published communications assailing the
Company, they have all emanated from
or been inspired by one or two 'ndiVld''
uals who have in contemplation lob
at city expense. Thus far these men
have had their say to the public with
out contradiction. But it must not he
inferred that there is only one side 10
the question or that the Gas Company
is unable to make defense. Claiming
the right to be heard, we desire TO sub
nit our side of the case and are ready
to substantiate the statements We make
by reference to the books OF the Com
pany or the oath Of its officers.
The stockholders Of the Wheeling
Gas Company are among the most pro-
minent and respectable citizens Of the
place. They are not swindlers and
robbers of the people as they have been
sometimes called, but men whose repu-
tation for integrity and fair dealing is
second to none. Neither are they few,
nor are they all wealthy. There are
now upwards of fifty holders Of this
stock, some of them are widows or
orphans, and many Of them are by no
means wealthy. The profits of the Gas
Company during the past twenty years
have not been such as to make any
person rich.
There have been many wonderful
and bewildering stories put in circula-
ton concerning the profits which have
accrued to the holders Of this stock.
The widest imaginations have been
taxed to estimate the revenue OF the
company, and the most extravagant as
sertions have found credence with some
who should have known better. Now,
what are the facts? The books of the
company prove that the average divi-
dend paid 10y the Wheeling Gas Com
pany in cash and stock since the date
of its organization has been exactly
nineteen and one,ftth 90 10y per cent.
During the first ten years Of this
time the stockholders received less
than ordinary interest upon the
money they had invested. TO this
small figure must all the stories
about wonderful dividends shrink.
The Gas Company has made no more
than its capital should earn in twenty
years business.
And these dividends have been legiti,
mately earned. In no single instance
has a customer been defrauded of one
cent with the knowledge OF the com,
pany. The meters are manufactured
by the Standard Meter Company in the
East, and they have given satisfaction
to the consumer wherever else they
have been used. The Company is as,
sured OF their total accuracy, and has
spared no expense to get the very best
that are manufactured in the United
States. The integrity Of the employees
OF the company who inspect the me-
tiers has never been successfully i'm
peached. They are known to the
citizens, and as private in
dividuals no one disputes their
word. 1t is absurd to suppose that
ENJOYING good regulations as neigh,
Dor and citizens, they should be dishon
est in this.
As regards the price charged for gas
the statement Of dividends made above
is sufficient to show that it has not been
so high as to yield princely fortunes tc
the holders Of the stock. Besides this
the price is far below the average. The
average price of gas furnished by three
hundred and eighty eight companies il
the Uuited States is four dollars ana
fory-hco cents per thousand feet. Oh
these three hundred and lightweight Ga:
Companies, only tcenty, orless than one
nineteenth of the whole number, charge
as little for gas as is charged by the
Wheeling Company. The actual
net price to the Company is
two dollars and ninety-five
cents from private consumers. OF the
nominal price, So 30, ten per cent. is
taken off the bills of those who pay in
the office, in order to save the cost Of
collection; that leaves 1925, ont of
which the company pays 20 cents
government tax, leaving simply 81 9j
net. The gas furnished to the city
lamps nets only eighty-t'oo cents pei
thousand feet, which is far below the
cost of production, to say nothing OF
returning any profit.
The proposition made by the Gas
Company to the City Councils is far
from being as exorbitant as it has
been represented. Having the works
in operation and no extraordinary ex.
pense to incur, the company can
barely afford to furnish gas to
citizens and the city at the uniform
nominal price of $3.50. Taking of
ten per cent. from this leaves S2.52, from
which the Government tax is to be
paid, leaving for the revenue OF the
company simply 1922 per thousand
feet consumed. When it is remembered
that the present price has not yielded
the extravagant dividends which some
persons have imagined, it will be readi,
ly seen that the price proposed is as low
as the gas can possibly be furnish ed for.
The city cannot make gas at so low a
price to consumers as we propose, with
out constant loss Of at least a round
rate of interest upon the money in
vested.
1t may be asked, Why is the Gas
Company DESTROYS of retaining its char
ter and continuing its business The
answer is simply that, at the proposed