The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-09
THE TUMBLE IN GAS STOCKS.

Boston man writes to the transcript. in that city
as follows
The fall in gas stocks the past thirty days is some
thing almost wholly unprecedented in the history OF
Wen managed and permanent securities. Ihere mas
been but class OF investments that Tor twenty
fse years has. paid so uniformly good DIVIDENDS rs
the city gas stocks OF the country.
That OF the Boston Gas Company has sold within
six months for $500 in at least one case. to our
knowiedge-par value s3oo-whiie last Iuesday -
sale was made at $685. The depreciation in New
York, in AT least, has been even more rapid
There is wide difference OF opinion among expe,
rcnced managers of gas companies to the future or
these securities. We have been informed by Mr..
Grecnough, the manager or the Boston Gas l1Rht
Company within week that there are IN ms opi'i-
ion two fatal objections 10 the universal or even
general introduction of the electric light the advent
OF which has caused such decline in gas stocks
ore is the impossibility of its anoriing steady
light free from violent changes and chickering's; the
other that the electric light compete in cost
with coal gas. its cost for plant and production be-
ing to the individual consumer, not only al the nrs
but after greatly in excess OF the expense OF
coal gas On the contrary, MIR. George L. Norman
OF Newport If not the largest, one Of the most ex
tensiyo holders OF gas stocks in this country. and
whose operations during the last twenty years IN
this direction have amounted to millions, said. IN
hearing while examining the operations or
Brush electric machine. not long since:-
II have the electric lights Of this country and
watched them abroad. Win srea. merts as
securities mold of large amount in the gas compa
MES of this country. This Brush light Is the best
have seen anywhere, and is certain evidence 10 my
mind Of the entire Of the system for great
many uses, where volume and intensity of light is
needed regard my securities Of this class az worth
to-day twenty five per cent less than before this in
vention of Mr. Brush was shown the public. have
not only no doubt of its introduction for large uses
like mills parks &c, but believe within ten years
houses and. streets will be lit in detail with IT,
and ut n far less cost than by coal gas. Though
my pecuniary interests will be largely affected by
this result cannot shut my eyes the facts they
now appear by the rapid advance OF electricity as
method of illumination. 1t is in my Judgment the
coming light for all uses.
This is undoubtedly fair example OF the differing
opinions among parties most interested in this ques
ton. As to the objections made by Mr. Grecnough
the rst that the light hickers certainly cannot
lie against the Brush light. to which Mr.. Norman
makes reference which seen for hours at the late
fair burning with all the steancss of an ordinary gas
burner; and to the question Of cost, &C., tho same
light is now being put into Music Hall. where Ave
hundred or gas burners are to be displaced by
four Brush lights, the cost of gas having been from
SIS to 500 per night while that Of the electric lights
is guaranteed not to exceed So per night which in
clndes power consumption of carbons interest the
plant and other incidental expenses.