New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-17
THE GAS BILL-PRO AND CON.
WY TIE MEASURE SHOULD BE PASSED.

me CONSUMERS ASSOCIATION POINT OUT THE
pRIN IpLHs on WHICH 1T is BASED.
IN IN. Edttor OF The Tribune
S,p. The gas companies are now seeking 10
a,scrcdis the hill to regulate their charges by alegns
that IL IL an unjust attack vested rights ana 'hei
eou,,uuuisfic and unconstitutional LUIS non a." $50
upon vested rights. but 1t Is an attack upon H.
wrongs, and probably no deer-rooteo' i'ns ,,,aro
vrous I'm which rich and powerful persons "eio ~
,a ,vos aver but that those persons "oo "s0
:, ,ho a,ca ARGUMENTS Such persons DO not sec"h W
consider that they are conhscathg o'noi' Pr.
,,eu they levy unjust charges upon heipes'
~ .sor enormous dividends which the legislative
s~osoatop shows that they have peeh u'iuihs pa' 40
- as A. IA proposed 10 limit their cyactions 10 an
snon,t double that yielded by ordinary investments
they raise the outcry of communism ana unconS'h'o"
atty The pending bill has been submitted 10 some Vi
the hest lawyers In the State. who think IL Is cons'n
oual and when lawyers differ the courts must deciae
;t,s TO he expected that the companies VIII exhaust
thar legal remees before they will submit TO tho ma
terial curtaiment of their exactons upon the puoc
which will be acc pmplished by this bill.
also learned Of another line Of attack which Is
being pursued by the gas companies, namely 10 RAISE '
cry that this bill will prevent competition ana Is ID 'o
,.o, ~ n,,ponoly Considering that these very per
,ops within two years paid large sum to purchase
legislation which given them practical monopoy
OF our streets Qhe law requiring the eohsch'oi WV
thirds Of tho AUDITING property-owncrsl th's Pic"
certainly amusing, as are the cfitic'ni' VI f -,
have pointed ont alleged defects In the Dill wmcn 'oS
evidently had not studied closely as they shoun nave
done To understand and appreciate the DILL inc ehu
inc nr,ncipes upon which 1t is framed must DC Kept III
view These are follows:
The bill Is framed upon the theory that caPi'a
Maid In BY stock and bond holders III furnishing gas
works ia entitled liberal dividends but thst
caniia ana watered stock entitled to no dvidenos;
eilo t,ai while We cannot take away from the stocka
holders capital which has been heretofore wIunS ,na
the people the shape OF surplus S The nreext
for further taxing the public 10 pay aVoenns upV
their own money thus exactea; also that, ankle oIui
narv bnsiness colnreon will not in the long rum reg
ulafe gas companies; thct there Is limit 70 lo
times our streets should oe Torn up aDa whe6 can
be economically invested In gas supply; a. 'rhioS
already egnt companies IN n which Combined alter
brief fight and many as seven SETS OF pipes ~ r a
Dars and The LAYING of pipes. the time mas come
when should no longer rely upon CON % ~ mi,
their dividends TO liberal rate upon capital actually
Maid in The principles embodied III TINS plli are 'o
,me ms those which have been found TO work Weli III
Inndon which alter passing through the same expert
enco in competition which we have done m & ,h "a
adopted the plan pursued IN sse peps hie giving fair
compensation 10 invested capital - ~, o,,,o ,,sa,f
The bill also recognizes that no law Viii eSou'e h, ~,
and Roar of Commissioners provided 10 see hal lts
PROVISIONS carried into effect ana aso 70 nvV t
power which an aggreyed consume, can az or and
gas company. This bill is founded on experience hu
Study situation oy fairninded business io"
would NOT do Injustice honest capital put VINO insst
thar GAS consumers have rights which should DC re-
spected The legislative investigation was only neeaea
for the purpose OF making apparent to the pubic wnt
was already known to those who studied the ques-
ton-uamely that grave abuses existed o
reneded in manner justified by the experience OF other
cnnn,nnit;es The pending bill has been carefully con
s Tered by some of the best business ana Ieeii W IN
fe state and believe is entitled to the support OIL all
'a'r7in'"u'" TIE GAS CONSUMERS Association,
JOHN H. SHERWOOD, President
~r,,r vopv lnr 16 1885