New-York tribune., 1885-03-31
REPORT OF THE SENATE GAS COMMITTEE.
ORGANIZATION or THE CoMPANIEs--A BILL RECON-.
MENDED.

ORGANIZATION or THE COMPANIEs--A BILL RECON-
MENDED.
ALBANY, March 30.-The committee ap-
pointed by the Senate inquire into the relation Of
the gaslight companies in New-York City to the
public and the cost charge and character Of the supply
furnished, handed in their report to tho
Senate this evening. The report gives the
history OF the different companies. which
was brought out the investigation. Concerning
the Metropolitan 1t states that the original capital
$500 900, which In 1870 increased TO s5,000000
appears from the returns to the Tax
only so per cent OF tho capital paid Ia
The president Of the company, however testified thss
the entire 5 100000 OF capital issued for construc
ton and that he partner In the firm that built tho
works that his partner dead and that he did not
know where the books of the firm were.
The original purpose Of the Mutual Company It's
name implied, that stockholders and consumers
should derive equal benefits from any decrease in the
cost of the manufacture Of gas
The Municipal organized with q capital OF
100000. Its capital increased in 1877 to
81, 100000; in 1879 to $2,000O00; In 1880
to S3,O0OOO0 OF the last increase it is impossible
to say what amount spent in permanent improve
mens Of property and what Is represented by stock
itself and the Knckerbocker which
It leased 1850. The Knickerbocser received its fran
time IN the hands Of receiver The bonded indebted.
ness OF 1892 900 OF the Union Company was assumed
and 81 100000 Of stock in the Knickeroocker was Is
sued.
bill accompanying the report provides for Board
of Lighting Commissioners to consist OF three persons
TO be appointed by the Mayor OF New York, one OF
whom shall hold Office two years, one four years and
%Sao Dns sixty day. sfSer '' tie passage Of tho
act The annual salary OF each commissioner sc @ snail Ds
the three commissioners shall be g. leeted upon tho
in Sew.YorE or majority OF such corporations. An
other OF the commissioners shall DO selected upon ING
after sacn appointments shall have been made
the y0 ss m & ams e p epd s S q
competent person for the term Of six years nany
tne Mayor A shah in the same manner appoint
q commissioner for the residue of tho term.
Any commissioner may be removed from Office by the
Governor of State upon written charges preferred
The commissioners after entering opon the duties
OF their Office shall ascertain the amount of cash capital
actually paid IN by the stockholders and bondhoders
of each OF the companies No dividend shall be paid tho
S9pthi Sy this act except such dividends as shall havs
been Setqay earned In the period and f0r no WslSa dS
dends shall be declared or paid to an amount ex-
ceedng rate Of 10 per , cent per .,n anna%; snn
bondhoders. which shall haye been expended aud
employed IL the business which easS eap saa 20 aaSs
the board and no dividends shall be declared on any
not being the actual cash capital paid ,dIovSy ln ey
stock % sscus and Or hGS o
acts OF any nature whatsoever shall be declared paid,
until .lcl cash capital shall have been 50 ascertained
terly reports to the hoard Of Commissioners
OF the quantity of gas manufactured the quantity con
City o: Now York by any other company. the guam
tty of gas wasted or lost by leakage OF
otherwise the total amount OF money
received from sales OF gas; amount OF money
received from any other source, the amount OF
money expended for labor and repairs, for mains or
services laid quantity ofthe for improvements
for purchases of property specifying whether OF per-
Inaent character not, tools, machinery other
plant The annual total expenses OF the
Board OF Commissioners shall not exceed $4,000 ao-
penses shall lowed and collected upon the property OF
such corporations, other taxes are now levied ana
collected. =,
The annual report by the Board OF Commissioners shall
contain all their proceedings, including such
statements, acts and explanations will thor
oughly disclose the operations OF the gas conr
panies In carrying their business, and also
make seh suggestions TO the general conduct OF such
business In connection with the public interests or
Amendment of laws, or to the general condition
of affairs or conduct Of such corporations.
os may seem TO the board expedlent
anv ,iccr agent or employe OF any gas company who
shall violate any OF the provisions Of this act shall be
guilty OF mlsdelneanor: Any such person
shall be liable to penalty In the sum OF not less than