New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-12-27
TIE FALL IN GAS STOCKS.
RIJMORFD TXPLANATIONs-REAsON GIVEN ny THE
orrrcIns oil LIE q. MIA NIES.

RUMORFD EXPLANATIONS-REAsON s GIVEN by THE
OFFICERS OF HE c. NrANlEs
There has been marked decline in the price of
Gas stocks within the past few months. These We're
for many years held investments, the fluctuations
beng small. Large blocks of these stocks are said
TO be held by wealthy persons. Within a few weeks
the prices of the stocks have fallen from 10 to 20
per cent The active competition between the com
NAMES has resulted in large reductions in the price
of gas Large consumers are now supplied 1T 10
cent thousand feet. Families and those who use
smaller quantities pay larger price; but 1t Is sad
on good authority that the companies do not realize
an average price of more than 81 thousand feet,
which, it is claimed does not repay the cost OF pro-
ductIon In consequence of the low prices several
of the large companies have failed to pay divI-
dcnds to their stockholders. None of the New-lork
companies have pad dividends since August /,
when the Metropolitan paid its regular sem-annual
dividend The Mutual has passed since then one
quarterly dividend aud the Municipal. which has
also paid ITS dividend quarterly. paid IFS latest one
in June The New-York Company omitted to de-
clare its seni-annual dividend payable III NOvenl-
At public sale on "Wednesday 30 shares of Man
haitian stock sold at lbs, and 30 shares OF
Nrw-York ut 10. A large broker in gas company
shares sad yesterday that there was no demand for
them; that investors were unwilling tn buy gas
stocks in view of rnlnOus competition ana OF
nrol,ahle ADOPTION of the electric light. He
quoted the principal New-York stocks as follows:
Manhattan l35. Metropolitan 10, Mutual 90,
and Municipal 40.
II has been rumored also that the various compa-
mics plonoed Ia combine or consolidate on the plan
If the Brooklyn companies
President Place of ne Mutual Gas Light Com
many said Yesterday that probably the principal
reason why gas stocks bad fallen was because of
fbe strong competition between the companies.
Lowering the pIicc of gas had prevented the pay
ment of dividends
The newspaper articles on Edis0ns electric light
had frightened some timd holders. The heaviest
stockholders IN the company were not frightened,
however They had Yet TO sec Sii. Edisons inven-
ton put TO a practical test, nor did they he leye
that his electric light could successfully compete
with gas There had been no attempt made 10 con-
solldaie the NewYOrk companies similar 10 those
i'm BROOKLYN, nor had lac heard The matter men
toned bv the representatives. Ut the companies.
There was an effort made sometime ago To have the
various comp ,nicS agree uniform rate for Gas,
but this had fallen through and nothing further
had been done.
The President of the New York Gas Light Com
pany thought the fall in the price of gas stocks
due almost entirely 10 the fact that the companies
had passed their dividends. This would he sutfi-
cent 10 account for the fall. He did not think that
Edlsor's electric light had had much effect. IL was
vet uufried. He had Heard nothing OF cOnsOlida-
ton of the New-ynIk companies