New-York tribune., 1885-03-01
TROUBLE OVER GAS BOOKS.
OBJECTING TO MAKING THEM PUBLIC.
THE INVESTIGATING COMMITTEE ASSERTS ITS AU-
TUORITY-AN EXPERT EMPLOYED.

THE INVESTIGATING COMMITTEE ASSERTS ITS AU-
TUORITY-AN EXPERT EMPLOYED.
The Senate Investigating Committee exam
lining the methods OF the companies and the founda-
ton for the complaints OF citizens continued Its sessions
yesterday at the Morton House, Fourteenth-st and
Broadway. General Treman asked John T. Kennedy
president Of the Mutual Gaslght Company, to produce
the balance sheets which he had promised to bring
with him. sOmewhat to the surprise OF the committee
Mr. Kennedy said 90 have them with me- out DO not
propose have them thrown broadcast oil over the city
willing show them to the committee. but do not
wish to throw them open to the public as
has been done here with other statements
and reports. I made statement to the com
mittee Yesterday which was correct In each
parIcular as the books and accounts OF the company
will prove"
Chairman Thomas-The committee directs you Cen
eral Treman to serve Mr. Kennedy subpoena direct
ing him to produce here all the books OF his company
s. G. Wheeler counsel for the Mutual Company, said
that there was caroad of books at the office or the
company. and 1t would be incOnvenient to bring
them all before the committee. He understood
that Mr. Kennedys objection was to have the contents
a tnI the eo@ee should have free to them
Chairman Thomas-I Will say In relation to this SUD
ec the committee has been tred with so far rs s
directions are concerned to the production OF the
papers to an extent very unpleasant to It's
I'm judicial capacity at ALL we have the power to see
that our directions obeycd. In order to test the
these books shall be produced IT we nave the neces-
power desire to proceed With the investigation
General Trenain suggested that an expert he dess-
mated TO examine the books at the cOmpany'S office.
considerable discussion this was agreed to and D.
Jane. W smith secretary OF the Manhattan Company.
then called lie produced the monthly balances ot
the minutes Of the Pooling Committee. and the cash
book of the pool $50 To lsSi. lie said The meet
In of the committee had nothing to do with liking
price gas by each company. Tie engineer re
ports will the outlay for current expenses and cost
q bctttTmcntS. The investments Tor real estate u
made, would show on the ledger We have various
classes Of consumers. and uniform rate for each In
1850 there twenty classes or more The classes de-
pended the amount of gas consumed each month.
These classes wrHt ny in ratio from 5000 to 100000
cubic feet for each consumer per month
Those consuming over 100000 cubic feet per month
were charged IS per 900 cubic feet. The gen
eral public were charged at that time ~ 80 per 1000
cubic ieot There was special contract with The Ee-
waited Railway Companies. There was no free gas
furnished To any one"
General Treman.whlt, in your opinion i' the cost Of
distribution OF 900 fect of gas any tme In the last ycar
A. About % cents This does not include the interest
the capital and the cost OF the plant
Q-IIow with AN increased capitalization can you fur
nih gas cheaper than before Al do not that the
Increased capitalization wlncicasc the cost of manu-
been high 800 In l-79 II sod ~ low as 1876 dur
ing the fierce competition that then existed
Oscar IollkoIcr' president Oh Inc Nero,
10 produce the engineers reports. the sn-
nua reports balance sheets and other papers n,ces-ar{
To show the cost Of producing g's Mr Iollikon'r ,ad
that he would have copies n'd" and produce the ORG
inils He was asked mere wa any any "ne'tloh 1"
have the expert appointed by On" c@mmiitc cttnih,
l.
suspicious 10 have expert examining the hpO- Oi the
company He willing to have IA" committee exam
Inc al the books and papers. and would bring
ten clrt-londs Of them. Finally II WIS agreed
that the committee should ca a the ohcc oi the com
pany aud with the expert examine the books aud papers
aud make such copies ~. II chose lie was then qr--
the business uf the company. lie replied
that the company organized In l-5~ and Lard mains
IA 1899. No dividends paid until l@tG. when u
per cent wa, paid. From l-5i the following GNidcnt-
paid 1874. 10 per cent $50 IL per cent l0tO,
II per cent; l-77 ISIS aud 1879, lo per cent each
year I~~o - per cent ISL. l2 per cont h--@ i
per cent 1883 20 per cent; l~- p per ccLt H. 1870
the company lost 7lO.OOO by explosion, and later
suffered "a heavy lose 10y a hre.
Thomas Ruticr. president " the Harlem Gas LSht
Company. testified t. thc Increase of tho company
capital from 100000 Ia June. l~JJ t. T3.ouuupu ia
Aprfl, l--i. It, bonded Indebtedness was 9ltO,"nl
The increased capital. he said, WAS paid up In cash
The capital AMI property Of The company hs rated ia
ihr consolidation at ~BOOu.uup The company paid ihc
10 blowing dividend, for the last ten years: $50 hnd
SO per cent l-s1 ia per cent; l-.-, per cent
go 1850, I--l aud l--2 uJao. l~-1, - per cent
l--i Gl1OO Thi- last included the surplus. which "A7
small ANY books and paIrr- Ia the ohce were hi "a"
service Oi the committee. The company Lad nO'hius !"
conceal.
recalled He produced the reports of the engineer
Of the company aud the minutes OF meetings coainng
other reports After discussion II was agreed between
him and the committee that the expert employed ~ Tie
committee should examine the books ana papers oi TIE
Municipal Company.
Chairman Thomas said that he was anxious that the
inycstigaon ofar - the taking OF evidence was con
reried. should bee closed next week The committee
adjourned to Monday at 1880 a. m