New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-02-10
TITO GAS COMPANIES UNITED.

TuE MUNICIPAL COMPANY BUYS OUT THE KNICk-
rRnoCKER CoMPANY-EFPECT Og THE TRANS
ACTION.
The Municipal Gaslight Company, of this city. has
purchased the property and franchises of tho kuck
erbockcr Gasight Company. which has mains in
that portion of tho city north OF Ihirty-fourh-st
and franch SO to lay pipes anywhere in the city.
The sale WAS consummated last week. The Knck-
erbockor Gaslight Company was an outgrowth OF
the old Union Company. which was sold under fore
closure of mortgage six or seven years ago. after
beginning the building OF works at Second-ave. and
East Ninety-ninth st. For several years the COM
pany did nothing. not even laying main. except
few for the Municipal Company, which had the
provisional works but no charter TO lay pipes. In
june 1878, certain capitalists Of this city
took hold Of the Knickerbocker Company
and obtained control of it. and William
A. Stevens as president of the company
was placed in charge OF the completion of the work
This was pushed with great rapdity, both labor
and material being very low, and at the present
time the works. with a capacity of 100000 cubic
feet Of gas. have been completed. and sixty five
miles of pipes have been laid. The pipes are laid at
various points in all the avenues between tile East
River and Eightb-ave.. between Thrty-fourth-st.
and the Harlem River Only the settled portions OF
this district are occupied, the mains extending. in
llTat-aYe OniV, int nnoit itIIkth' II ~
prepared to supply gas to the best portion OF the
growing part of the city.
The Municipal Company in becoming posscssor
of this property, has IN fact doubled lts pre- ent
capacity and has given ITSELF 1t is said. a chance
for future growth in the upper part OF the city. AT
ITS present works in FOrty-secOnd-st, the Municipal
Company has about reached the limit, three miles
beng the practical limit for gas to be forced
from the gasometer. 1t Is therefore com
PEELED, If It's work is 10 go on either to buy OF build
new works. The KnickerbOcker Company has used
a patent process for making the naphtha or wafer
gas similar the process i'll by The Municipal
Company IN this city and BY the Fulton Municipal
COMPANY IN Brooklyn. Recently the New-York
Gas Light Company puIc released from the Municipal
Company the night TO use this water-gas process,
the latter agreeing to keep ont Of the district south
of Grand-st. Now, by this new arrangement, the
whole city is supplied with the process gas.
The Knickerbocker Companys capital was
81 800 900 The property includes two blocks be-
tween East Ninety-egbth and Ninety nDt',sts.,
extending from Second-ave. 10 the East River front,
with bulkhead Of 30 feet, filled III on the land
side and having deep water on the river side. The
works are built in the best manner and the pipes
said to be the best III this city. beng
laid when the cost was go ton for what
now could not be laid for S42 ton.
Ii is said that the plant could not now be put up for
| 81 300 600 which s said 10 be the price paid by
the Municipal Company, but those interested refused
TO make public the price. Mr. Franck yn, president
| of the Municipal Company. was seen by tribune
| reporter yesterday. 10 the question whether he
was willing to verify the statement that the NUM-
clpal Company had purchased the franchises and
works of the Knickerbocker Company he said
{" suppose there is no harm to say that such a
sale has taken place"
| "What was the price agreed uponT
"That will never be known"
The bearing of this purchase on consolidation OF
the different companies in the city mnch dis
cussed among men interested IN gas stocks yesterday.
prominent representative of one Of the companies
stated that ne convinced tnat, taking all things
IN considerations the price of gas could not be less
| than 81 a thousand feet and afford margin enough
Cor profit to capitalists interested in the business.
| The Knckerbocker Company furnishes gas at
| 81 90, and has no rival except the Harlem Com
| pany. The other companies prices range down 10
| go cents to large consumers. IL is believed that
| the sale will make 10 difference to those who take
! gas from the Knickerbocker Company. The effect
Of the news was to steady the IN these stocks