The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1883-10-13
Unusual Prosperity.

| Vigorous Administration and Economical
| Management-The Merchants Electric
| Light and Power Company-An Interes :
| ing Interview with President Hovey.
The Boston Globe of yesterday Published
| the following interview with President Hovey
| of the Merchants Electric Light and Power
Company. Mr.. Hovey is a well known
journalist, having been for a number Of years
editor in chief of the Boston Daily Transcripts:
The public interest in the success of the
Merchants Electric Light and Power Company
and the attention that it 10 attracting LED
reporter of the Globe to seek an interview with
Mr.. William A. Hovey. president OF the COM
pany, at its Office, 234 Devonshire street, Bos-
ton. Mr.. HoYey was found hard at work at
his desk, answering a pile of letters from ell
over New England, while at the counter near
by the general manager, Mr.. Ross, and couple
of clerks were busy receiving applications for
stock and taking orders for lights, over twenty
five of the latter having come in during the
morning. But, though very busy, Mr.. Hovey
is too good a newspaper man not to have and
to show kindly feeling for q brather OF the
craft, and, laying aside his correspondence for
time, turned to the reporter and asked his
errand.
Reporter-"The Globe wants me to interview
you."
Mr. Hovey-"Wen, can stand it II the
Globec an, so go ahead. But, hold on; let US
have cigar first. I'll talk until it is gone,
and then 1 must tackle these letters again."
So cigars were lighted and the conversation
resumed.
Reporter-'I want to know all about elec-
trio lighting"
Mr. Hovey-"Wasn't it Nine. de Stael who
asked the British statesman to tell her all
about the British Constitution in ten minutes2
Madame, said he, Il have been studying it
fifty years. and l have still much to learn
just so with electric lighting. have studied
it faithfully, and / know something about 1t,
but don't ask me to tell you all about II"
Reporter-"What system do you use."
Mr.. Hovey-"The American, or Thomson
Houston system, admitted to be the best arc
system in use."
Reporter-"Why is it the best?"
Mr.. Hovey-"First, because it Is the most
economical in power. We get the same result
from from the expenditure OF seven-tenths OF O
horse power that the other companies require
from one to one and half horse power 10 pro-
duce. Secondly, because it is the only system
which includes an automatic regulator which
keeps the flow of electricity exactly propor-
toned to the work to be done, thus securing
perfect uniformity in the light, and avoiding
waste of power, that is of COAL"
Reporter-"Are there any other reasons why
yonr company can succeed and others can
not?''
Mr. Hovey-"There are. We are taking ad-
vantage of the lessons that it has cost others
much time and money to learn. We mako
our steam at a minimum cost by using cheap
fuel, mixed, like Hunts paints, with brains.
We use the best eDgine-the Armington q
Sims-and have it made just to suit our use.
We run at very high speed, and belt direct
from the engine to the dynamo"
Reporter-"What is the advantage OF thatY"
Mr. Hovey-"About 10 per cent, as shown
by some very careful and accurate expert
ments made last winter It takes power to
We prefer to save it; that's all"
Reporter-How many lights have you in Bos-
ton now?'
Mr. Hovey-'All told we have 550."
ReDorter-Is there any demand for more?"
Mr.. Hovey-'1 should smile; but don't put
that down. Mr.. Ross, how many orders have
you ahead for lights, now?"
Mr.. Ross-"Over two hundred, and more
coming every day"
Mr. Hovey-"Thank you. You see we are
up to our capacity, and it is because we want
to increase our plant to supply this demand
that we are offering stock?"
Reporter-"To what extent do you propose
to increase?"
Mr. Hovey-"Preparation are now making
for new station and capacity of 1000 lights.
This station will have every known appliance
for producing and using power at the lowest
possible cost. Power is the thing that. we
transform into light, and we want to get It at
the lowest figure possible. The cheaper our
Reporter-"How is the stock selling?''
Mr.. Hovey-" Rapidly. The fact is that the
people, what John ID. Long used to call the
plain people'-he didn't mean the ugly ones
believe in this stock. They believe in it be-
cause they know that ours is the best light,
and because they know that the companies
which use il in Lowell, Portland, Fitchburg.
Hartford, Lynn and other places, are doing
big business and making money, and they be-
lieve in it because they know that the manage
ment is in the hands of men who devote their
whole time and attention to the business
study every economy and keep everything
working. Electric lighting got a black eye
because people thought at first that you could
hitch dynamo to any kind of an engine,
| leave it to the mana cement of the people who
| knew nothing about it, and had no time to at
| tend to it, and run the thing successfully. But
you can't. You've got to have complete sys-
tenn from the fire-box under the boiler to the
carbon in the lamp"
Reporter-"But have seen 1t intimated in
the papers that no electric light company can
make money"
Mr. Hovey-"So have /. In fact 1 have
seen great many things 'intimated' in the pa
pers. saw it intimated in certain papers yes
terday that the Republicans had carried Ohio.
The lLondon Times intimated' in a column
article that no steamer could cross the ocean
under steam because she couldn't carry coal
enough to take her across. The next day the
| first steamer, the Savannah, 1 think 1t was,
reached Liverpool. / saw it intimated by q
| highly respectable journal in this city some
| years ago thai the telephone was an interest
| ing toy but could never be Of practical value.
| And have several times seen 1t 'intimated' In
| Boston evening paper that a successful un-
| derground system of wires for electric lighting
| had been established in Park square, and that
now that the problem was solved ths clothes.
| line must CO. Bnt notice that this system
| has been dug up three or four times since and
| that the company which owns it has had to
run its lines on our poles. Dou't place too
much reliance on things that are intimated".
Reporter-''I understand that the price of
| your treasury stock will be advanced after
| Saturday TO $3.50 per share Why is this?''
Mr.. Hovey-"J ust give me a light, please?
| Thank you. Why did we decide to advance
the stock after Saturday to S12 80? Because
per cent. from our earnings on our present
business, and when our plant is increased we
kaow that we can pay more"
Reporter-"What is the name Of your parent
company"
Mr. Hovey-"We havs no parent companv
in the ordinary sense of the word. We bought
out the Boston plant of the American Electric
and Illuminating Company, which now de-
votes itself exclusively to the business of con-
structing plants in the cities and towns within
its territory, which includes New England and
New York State"
Reporter-"What is your idea about the
business Of the other companies using
American system in New England?"
Mr.. Hovey-"Every one of the companies
which the American Electric and Illuminat-
| ing Company has established is doing a paying
business, and three-fourths of them are
doubling their capacity in order to supply the
demand for lights. The fact is, this business
is only in its infancy. In five years from to-
day there will be 5000 lights in Boston alone"
Reporter =" How about supplying the
power?"
Mr.. Hoyey-"It is our intention to supply
| power from electric motors for running iignt
machinery from our new station by wire. Ihis
is branch of our business which we teel GER
| tain will nav us a very handsome income.
There is a demand for it, and we have got it,
! Mr. Hovey's cigar was about gone, aud, as
| boy had Just come from the post-othce with
| another batch OF letters, the writer tnougnt II