Savannah morning news. [volume] (Savannah) 1868-1887, 1885-04-28
GAS MAKING PROFITS.
scientific Authorities on the Practlca-
bility of Water Gas.
From ne Soienftec Americqn


A Senate committee that has been in
yastigating our New York city gas COM
NAMES has struck on a yeritable bonanza.
and the pay chute continues without sign
of exhaustion. 1t is very refreshing in
these hard times to read Of regular divi-
dends of % per cent, with an occasional
@e1tra7 and large reserve fund; but our
admiration is greatly increased when we
find these magnificent dividends are de-
clared on stock that is largely "water."
/ and IN some cases was all "bonus,o and
4 never represented any ''cash." the work
ing capital being something, we might
almost say. in general furnished by the
sale of bonds.
The following are a few Of the records
4 rs published in the daily papers:
The Manhattan gas company was char
tered in 1880, with capital of 100000,
s320.O00 OF which was paid in, and the
balance was returned In installments.
presumably ont Of profits. In 1917 the
capital was Increased to $1,000 000; in
1852. to 100000; in 1855 to $4 ,000. 600
Tie price charged for gas has pretty
steadily declined from ST per 600 feet, in
1896 to 81 70 per 1000, the present price.
In 1874, the Manhattan company made
81 100000 cubic feet of gas, being at the
The loss from leakage was IA per cent.
candle power, 1892 The cost Of produc-
ton, ST. % per thousand feet Selling
price. $2 %. By-products brought $143.-
2i1. The company declared, in 1915, 80
Per cent. For several years past the COM
pany has produced over 800, GOO, 900 feet
annually. The return per ton of coal
has improved to 1854 feet: the loss
A rom leakage still averages over
"a per cent; the candle power has i'm
proved 10 about 1917; and the cost of
manufacture at the metre has declined
to about 66 cents and in the holder to
about 80 cents per thousand feet. The
ling price for four years past has been
81 % per thousand feet. The dividends,
70 per cent, with an extra 10 per cent.
when the company consolidated at the
close Of last year. The dividends for he
past ten years have averaged over q per
cent.
The New York gas light company
was organized in 1923, with $l,000,0O0
capital. In 1871 this was increased to
$1,000 OOO by issuing four shares of new
stock for one of Old. ''NO cash was paid
in" In the consolidation, few months
aeo, this company was put in at $780,
o]0. The works have now a daily ca
pacIty of 6.Q00.0 00 feet. The dividends
paid were 20 per cent in 1875 10 per
cent. in 1876 and 1877, s per cent. in
1878, per cent. in 1879 per cent. in
1880 and 1881, 10 per cent. in 1882 and
1888, 10 per cent. in 1884: average for ten
years 1913 per cent. In 1878 this company
paid the Municipal company $4,000 for
the right to make water gas under the
Jessie du Motay patents, and has since
used water gas enriched by naphtha. In
1879 there was war with the Mutual
company, which also made a water Gas.
The Municipal company has been pay
Il ing dividends at the rate of from 3 to 20
per cent. on its capital of $3,000,G00.
A few points Of considerable interest
have been brought out. The enormous
increase OF gas consumption and the more
intelligent administration have reduced
e The cost Of production in the pastten years
from 81 D TO about 10 cents per thousand
feet, or q reduction OF over 60 per cent.
n The cost to consumers in the same time
Il was reduced 10 per cent. The dividends
and the value of the property were in
4 creased.
WATER GAS.
4 The companies that ten years ago de-
nounced water gas as highly dangerous
% the public, aud supported their absurd
assertions b. the reports Of some of our
well-knOwn professors" in order that
they might defeat the introduction and
mpetition Of cheap water gas, having
In great measure succeeded in this oh
jet, quietly themselves commenced the
+. manufacture and distribution of the
Fl deadly water gas" that they had so long
denounced. There are few people, says
n the Engineering and Mining journal,
probably who know the progress
made in the Introduction Of water
" gas in the past ten years. Most of
the Pennsylvania cities, Baltimore, New
York, and several other large Eastern
H cities are now lighted to a great extent
with enriched wat + gas; nut the present
enormous consumption will sink into
insignitcance when the cheap unenriched
+. water gas is distributed for fuel. The
i success of the new incandescent fuel gas
light, to which we have already made ref
erence in these columns, promises to
bring about this change soon. We may
then expect to see our gas, costing con-
i -umers say 80 cents per 1000 feet, used
4 generally for fuel, and at the same time
furnishing much better light than we
now have. OF all investments now before
i the public, gas making appears to be the
-. 40 FOL 81 lfa11o Ia 1oco