, 1875-03-07

counts Of tho Peoples Gas-Itght and Coke Compau
Q and certify that, after making iii proper charge
agsnst revenue, the net income Of the Company 10
each OF the following yeara VIA a. follows:
l859. $3.50 II
e19 $0l y
Aaa fer ths ysar ls74. on o. acsual results Of
the first ten months Of tha year, and taking
for the last two month the consumption for
the corresponding month Of 1873. 3.......... IT. Qo
The particulars Of the profit and loss accounts O.
each ct the above years ara sent herewith. Ws ate
FnrcE, wArEnuousx Co.
Of mortgages and charters furnished by Messrs Nor
ton. Rose, Norton Il Brewer. solicitors:
T1cr1a1A 3s71 s1ngEE r. s. q De
Trust Company, iEnittd-GEsrLE,tES: ons OF our
Partners having, 1T your request, proceeded to New
corporation and borrowing powers of tho Poople'a
g oaelignt and coks conpany Of Chicago, We are
Coke Company Of Chicago was duly Incorporated By
act Of tie General assembly Of the State Of Illinois
passed in February 1855. and that the Company was
subsequently, invested with further powers BY m
a1nendnonact OF the General Assembly Of that Stata
pasted in the month Of Fehrusry, 1866 under which
borrow money and 10 mortgage or lease it's properly or
franchises and further t,ar tue mortgagedeed secur-
Ing The arst mostgaes et s42o 600 upon the whole
charge thereon For fuller desils refer you to our
report forwarded herewith VIC a.e. gontle.nen, yours
faithfully, NoR7os, KosR, NonTuH !; BaEwEn,
These bonds were all taken by the LIST Of
February.
| 4 BIT OF HISTORY.
And now after this exhibition Of the strength
eatinE to give something concerning its early
history, to show how it started and how it resch-
ed its present magnitude.
| The Chicago Gas-Llght & Coke Company was
incorporated in 1919, with exclusive privileges
| for ten years, and began operat.ons soon after,
laying its pipes in the West as we'll az the South
Division, though doing but little in the former
which was comparatively unsettled. In 1855.
| competition began, and the Legislature passed
! the following acL incorporating
THE PEOPLES GAsL10HT COKE COMPANY.
eEcT1os J.: Be enacted. d., That Matthew Latin,
1. G Paine Fseer, a. q. Throop D. 4 Gage, John s.
and their associates be aad they aTs bereby y eated
by tha name snd s!le Of Tha Peop1ess aasiiShs /
cesaors shall be capable Law Of contracting and being
contracted WITH suing and being sued defending and
being defended in Ill courts and places and Il ali
TO-, 70 acquire, gu & hoa, oseapy: aud enjoy all such
proper Tor the construction extension, and usefulness
Of the works Of said Company and for the manage
ment and good government Of the same; and they |!
break and renew ut pleasure.
Sec. 2. Tbs corporation hersby created shall have
organization under this as to proceed Is The erection
Of the necessary works for the manufacture Of gas and
fsas Shin ~ s1a City Of Ghcogo and on md stsr The
sell gas, to bc made from any ali tho snb- !
stances Or combination thereof from which inaam-
mab'e gas a usually obtained md to b. used for the
purpose Of Lighting the City Of Chicago or the streets
thereof, and any buildings, manufactures, pubuc
places or houses thoren contained and to erect ali
necessary works and apparatus as aforesaid aud On
and after tho aAid 18th day Of February, 1885,
er BY and With Ae consent Of the Chicago Gas Light
and Coke Company, to lay pipes for the purpose Of
conducting the IN any Of the streets avenues of
s.id city. With the consent of the City Council Pro
wills That AMI 3nSt%r 49,
done to any street lane. highway in said City. Tho
real eatats which this corporation Ia entitled to hoid
= SIC. 3 The capital stock of said cona.aye- 10:
exceed $IpO,00 10 te subscribed for anl *un |
proportions as shall be prescribed by .le, :ui
rules for regulating The concerns Of said G ~ ss |
aod disposition Of the stock rr:::ssrty,
and agents to be employed the number aad election
Of Directors, and all such matters upperain to the
concerns Of said Company.
SEC 4. It il IN provision Of the foregoing
7ct Of incorporation that the said Company shall fur
olsn ana supply to The City Of Chicago for I'll Its pub
:iy, sufcien. supply Of gaa rate not exceeding
= per goo feet and etnnabitants Of said ety A.
rate ros exceeding $3.50 per LOCO feet. >
Notwithstanding the passase OF this act. it :
Fas Impossible for the new corporation to begin q
operations at once, since tho exclusive franchise
# tue Chicago Gas Light nnd Coke Company n
i'd not expire until 1850. In 1858, the COINED il
'assed an order giving permission to the Pe,,- I =
He's Gas Light and Cole Company to lay itH n
'pes in any street in the city, provided, Of E
curse. that the Consent of the other Company h
'as obtained, up to the middle Of the following e
ear. This consent, Of course. was not given. =
o soon rs it became practicable, tia Peoples | t,
company began LAYING its pipes, including in its b
cid of operations East Lake street al
oz q year. patty wurfare mas car
[ed on between the two corporations, ! 0,
9th Eeekng to occupy the Eama territory. The n,
ontest was aiso carried into the Common Couu- +
!. and an ordinance was pazsed by that body N
aking = contract With the Peoples Gas Com
any to supply the city With gas. This was
hleh caused considerable excitement at the
me, and the Council. at its following meeting s.
verssd its previous action.
About 1851, :.
A. b. BILLINGS | MI
me here from New York, and bought up, On by
9 OWN account md that Of his brothers-in-iaw. ~ =.
Q Hessrs. Garrison, OF New York, the stock Of oo
9 then feeble Peoples Gas Company. pu
HIS hrst step Tas to enter into an agreement pr
th the Chicago Gas-Light and Coke Company. h.
which tho two corporations DIVIDED tie civ ~ ~
tween them-one taking tho West Division ~ ~
ID the other the North and South. It is be- -, -,
we'd that as confederation fos this comnro- w @a
se' and for the few ullea Of pipe which the "
her Company had already lald Oh the West Sita ~.
Jonus OF SOC, 600 was paid. ~
During the early pa.t of 1862, the West Side w. w.
s Company f.lrly entered into business. under va va
1t ablo MANAGEMENT which in few years has ~, ma
'A. ~ eAAV ~ ~4o 6AeAt CuIpOlaGlOnG. OF the
antry- -
cy the original act Of Incorporation it capital te.
'ck was limited to $500, ,00O In 1866. how H.
r, an amendatoty act was passed by the Leg Of
ature, which made several material changes In
charter. It is as follows: w.
TIE AMENDATonY LAW
zc l. Be It enacted, ETC., That the aecond sectIon
said act LOT 1851 be, and the same ia hera.,v. 70
enaea t - TO read - follows: viz: Tbs cooperation
ooy ssested shall have full POWER and au:aor3ty
lnWsth to proceed 10 the erection aud u.iptenance
ne necessary works for the mznufacturo of pzs
eoke ~ssaln Raid City Of Chicago, md to man- 3
~ q 9ny aad III substances, o. combtnation 9 gee
'eof. from which inGammable gas is csuai7 dial
aied aud TO be uAed fer the purpoaa Of lohn1 rem
public places or houses tsrein ndnntaSto day
t and usa al necessary works md apparatus for and
amnn conn1s ~ .a an WIN the cousent Of the Snt
easary pipes for tho conducting of eas In aa ,n and
oi The ssEee alleys. avenues or public sounres tell
saia dty: fTorfded. tnat permanent injury or mec
~. 10 4one ~ 20 ~ &ach stsees aiey Avonue S.or
;o That sac ~ 15 ~ W. any sash pipes. ehci
areoy, 50 amended read n folowx W Tns III
tal stock Of said Company sha4 be $40 nm saJ cost