New-York tribune., 1884-10-01
THE Gas CGNsoIlD4TICN.
ONLY THE sA.CuOS OF IHE STOCKHOLDERS o
TIE COMPANIES REMAINING To BE OBTAINED

oxry TIE sA.CrIoN OF IHE STOCKHOLDERS OF
TIE COMPANIES REMAINING To BE OBTAINED.
Several gentlemen who are largely interested III thf
New-York gas companes were by TRIBUNE
reporter Yesterday in reference to the proposed coso-
idation Of the companies The result of these inter
views was 70 confirm the account published yesterday
These gentlemen however, denied that the consolda-
,on has "a, its object the defeat of the Equitable Gas
Iiaht Compal " OF that the Equitable claim that 1t
can manufacture gas cbeaply than the other COIN
roncs had been at all discussed. Ii "verrwEo re
declared that the measure was adopted purely Tor
reasons economy. and thar n would rc-nl IN flrl-
ING the people with gas a cheaper rates thh peiol"
The comppnies. il stated AT present have lar
greater facilities for the manufacture OF gas than are
warranted by the demand In some streets there are
three mains where ony Is required lns oi course,
entails unnecessary expenses upon me c"npahi,s 5
', nich arc paid 10y the consumers, and which wonld
Dc done away with if there were but single corpora
ton. ,
4 director of one of the companies said that the work
of Capitalization j. already finished. The company
i ia have n captal of about $40 OOt.OOO. The stock
of each of the companies has been estimated 10y ex-
pcrts appointed by the ot all the com
pauies and in forming this estimate the debts "i the
company are deducted. that the new corporation
will have no encumbrances upon It, capital stock
George w Doanc, treasurer OF the New York Gas
Light Company, was seen at the company oin'eS W
lIester-st He expressed his readiness t. talk with
the reporter but doubted whether lac could give any
information which would be of value to III TRIBUNE
In answcri to the question: What VIII he done "lSh
These bonds mus, necessarily he assumed 10y the new
corporation They form lien upon the real estate oi
the old companies. and of course the new concern
cannot escape the liabilities which have been con-
tracted by lis founderS.' SO,
How soon will the consolidation be completed y
Nothing now remains to be done but 10 obtain the
sanction of the tockhOders OF the several companies
| believe that the proposition has already cteh APP
proved by the directors of all the companies. Proha
bly the stockholders will meet within week and ihc
whole matter Will then be settled"
els the object OF the combination TO resist the Einit-
able company =
"Not at all We intend 10 consolidate because hy
so doing we will be able to manufacture more econ
omcaly but have not been induced to DO 10 by lear
of the Equitable"
What will be the probable method followed by the
new COMPANY VIII many of the works bc closed
and SIMPLY three four large plants retained -
That / cannot say. such question Il one when
cannot be answered until the formation OF the new
company. When the new company u formed II W II
have 10 determine for itself what plan II will follow
But of course we icannot say what a company will do
until il is i'll existence
One gentleman expressed the opinion that no real
estate or plant would be sold He thought that prob
ably the works which not at present necessary 10
supply the city with gas would he closed and retained
until the growth Of the city should render them
profitable II is runOrcd that the large works oi the
Manhattan company both on the East River and on the
North River will be OF the chief stations chosen
by the new corporation from which to supply the city