, 1876-08-17

throne. ..
POLITICAL GAs.MAYrNG.
We aro surprised to learn that Mayor
Heath Is disposed to lend n favorable chr to
tie proposition Of the gas companies, sug-
gcstel by tho sly old Atr. I31LL1Sas, Of the
West silo, to 1case their works to tile city
for 10 per cent Of their yn1untion. This il a
renewal Of m old itlea long entertained by
Mr.. DlII1sus and brought to tho surface
whenever tho public got him at disad.
vantage. We have no doubt that ho would
be exceedingly glad to get 10 per cent on IL
valuation Of his gas-works Of three or four
times their actnal valuc. If the two gas
companies could make trntlo of this kind,
il would bo fully rs profitable to thom ~
drawing somo 800, 200 every year out Of tic
city, in addition to tho exaggerated gas-
bills which tho private consumers nro forced
to pay them. AZ 10 por cent ia about twice
rs much Us largo amounts Of invested capital
can carn nowadays, md rs the nominal value
Of the gas-works represents pcrhaps four
times what they actually cost, the arrango-
mcnt would bo O worry comfortable one for
The owners Of the gag-stock but VIC 10 not
SEQ how my public oillcor can seriously
sanction it. Why, Mr. Drl11sas is said to
havo negotiated foreign loan Of sl,500, 900
on Lis West sido gas-worlss, which is prohn-
bly, double tho capital invested, and Jet, in
selling or Leasing to the city, ho would ul.-
quostionnbly hold that If he could borrow
that amount of money Ills plant must be
worth at lcast $G,000,000, and probably
moro. Besides the present advantages
Of leasing tho works on such fnvor.
able terms, the gus companies would
SECURE tho still greater advantage Of
having their works, mnina, pipes, etc., all
renewed and enlarged within tho term of
tho Ioase Mt tho cost OF tho city, and they
would receive in return property vastly more
valuable than they originally leased. Mcnn-
wtilc another tremendous agency for ring
politics and for tho plunder Of tho people
would be placed within tempting reach Of
tho hummer politicians.
Tho duty Of tho city officers in this gas
controversy is perfectly plain. There is no
reasonable excuse for anybody going wrong.
Tho gas companies must be met upon tho
e1igencioa Of tho times, tho shrinkago in
Values and tho opinion Of Corporation Coun-
sci ANTHONY. They nust bo notified that
they can no longer aoece the corporation I'M
der tho pretonse of contract which ID not
binding beyond years appropriations. They
must bo compelled to retluce tho capacity
Of tho streetlamp burners to 3 fcot, to light
and cxtinguish tho lamps by scientific timo-
table, and to take suoh prico ~ shall DO
agreed upon a8 n fair compensation after es.
timatiug tho actual cost of their plant and
the actual cost Of manufacturing thoir ghs.
II their greed, so luxuriously grasiAed during
,nany years past, has not ovcrrildon their
Judgment, they will accept tho situation, bo
content to make more reasonable profits Oh
their original Investments, and share along
with alt tho rost Of tho world tho universal
shrinkage In tho facilities for speculative
money-tnakiug. If they aro not dianosoa to
oct sensibly, then lot tho1n turn OF tho gas
and B,le under thoir oppressive but worthless
contracts. We aro informed that q company
stands ready to make nh offer to light tho
streets Of this city with oil for $2o0, 900
per annum, guaranteeing as good q quality
Of light as wo now get from the uas COM
panics, il not bettor, and supplying tho gamo
number OF tampa for lie sa,uo number Of
hourH which now coat tho city 370Q, goo per
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