New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-11-29
DECLINE IN GAS STOCKS.

FEARS OF THE COMING ELECTRIC LIGHT THE CAUSE
OF THE DEPREssION-MARKED DECLINE IN THp
STOCK OF THE HARLEM GASLIGHT COMPANY
Considerable anxiety has been shown lately
by stockholders In gas companies on account OF the
OF inventors make the electric Light supersde
gaslIght Although the pTacticablty OF the electric
light general has been established by trial.
the theories OF the inventors published 10 the newspa
pers have caused rapid decline In the prices gas
stocks during the last few months, Plnest broker
who has had extensive dealings in these stocks, said
Tue sday: The decline IN the prices or gas sec has
rapid or late that tn stocks have beea almost
driven out the market. Any who wishes 10 buy
them can get all be wants with very little trouble but
there Is demand for them aud holders are afraid
offer them for public sale. The cause Of tnis fonnd in
the uneasinesy which spectators feel in regard to the
electric light The heaviest holders Of gas stocks pro-
feel alarm. They that the electric light
can never take the place OF gaslght except In the
lighting Of large public squares aud streets,
and that this loss VIII be made up to the
gas companies through the use Of gas stoves Some
improve ments have been made recently In these
stoves, aud it is claimed that they can be used with
economy aud without any offensive odors In offices and
in dwellings where the rooms are small The Metro
poitan Elevated Railway Company is introducing these
stoves all its depots. 1t is claimed that the cost Of
heating one Of these depOts this way will be only five
cents an hour. My opinion Is that the decline IN
gas stocks will soon cease. 1 understand that the
of the electric light Illuminating the streets OF Paris
is be discontinued anu that the prices OF gas
stocks in that city going up"
Another broker, who questioned, said he did
not believe tbat the popular approximations in re-
gard to the electric light the Only causes Of the de-
cline in gas The gas companies, nc said mad be-
come so numerous that the rivalry between them was
runous The stocks Of # accompanies had been
watered 100 muc and the compines had been unable %
pay good dividends IN consequence. Al tHe Vi,'S VI
sciFe over the threatened suppantiBg of gasIgat
by the electric light would DIE out as soon % ahs
extensive trial OF the latter light Was made, In tne
meantime 10 was said, the gasighe companies "eto
their usual earnings, aud tue largest stoc
on, rcgordrug fhe sales OF gas during the past
f months eiced fact that only few shares nave
sold IN tine Exchange rooms AT any one ue iHes'
safes no viewer, show a marked decline 49,,
HE stocks of the Manhattan Gaslght Company, which
Fnsry last they were sold in the Exchange az
2O3 During the Summer they dr0ppei to ls2, ana iast
month they were sold a. low rs 1872. On NONsh0ee
90 some OF the cOmuanys stacks we're sOId at l4oi
Stock, Of tine Metropolitan Gasl ght Company were 2.a
oil at 1919 on May 20, ana at 10 September 20 Tue
last SAFE OF these stocks in the Exchange rooms vas
made October 49, wnen the stocks brouHnt lo2, On
Ie same day some stock OF the Brooklyn Gasigut Com
pauy brought lib shrrs OF tue company stoChs "oae
so on November 20 at 119, showinga slsht increase
<Du Nav 5 the same stocks brought l47l2-
similar iucuat!on was noticed III ne STOCKS OF ,1e
on FEBRUARY B 10 IS on september 25 aud weEe sold at
81 on November 20. Several shares OF NrN-l9fh Au,
tual Gasght stock were sOln AT oo9 on alES 10, anu
these stocks nave been placed IA Tue market shee
Tne stocks Of the Municipal Gasght COMPANY HaEe
been keVt OF the market slnce August % wen tey
Irou hi g7Ia-an increase about per cent Oh the
prices of the same stocks July "A. , 49,,
The most marked decline, however, mas Deeh IN tne
stocks of the Harlem GasIghI Company, which were
sold IN January at 81. lew shares were soid on NAY
20 at So, the stocks went down 20 "A OIL
IS On November Is they were Did OH at sag no
cause OF this unusual depression has been stated 10 DO
am alarm among the stockholders AT the prospect OF
mertcage on the cOmpany's property Inc Ioilo"lnS
circular was sent TO Tue stocsholders last month
It "a necessary to MORTGAGE on OufpropelV
ana fanch obtain modey Tor the eXten
sion business and other purposes WI You lrass
call AT the office NJ. 81 Llbe-tyst., and see our pesl-
dent on or before the 3Oh November 1873, VINO has
tine necessary papers which we wish y0n 10 sign
:" r. W. RoDNAs, VIce-PTesdent"
The statement made at the company office was mat
II mad been taOught advisable 10 give mortgage OF
$4,000 IN order 10 extend the compdnys business, 70
tke la $4,000 OF SUBSCRIPTION bonds Dow OUTSTANDING,
and 10 pay floating debt OF $4,000 The company
was said needed retOrt and new Eas-ppes lOr uis
trI,is winch the company has nOt supplied Atherlo
rival company, the KnckerbOcker, uas been laying
pes in Harlem, and the company has therefore Dceu
Obliged 10 lower ITS price frOm 81 10 10 ~.