New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-02-27
PROSPECTS FOR CHEAP GAS.
VULGAR ROASTING OF BRIBERY's POWER.
TALK WITH A BELIEVER IN GAS MoNoPoLi-
BRIGHTER VIEWS FROM Mr. SHERWOOD.

TALK WITH BELIEVER IN GAS MoNofoLi-
BRIGHTER VIEWS FROM Mr.. SHERWOOD.
The investigation of gas abuses goes on today at
the Morton House before senators Thomas, Gibbs
snd DAILY The proceedings of last FRIDAY ana sat
urday have been varOusy commented upon IN
week the principal topic Of conversation. A dealer
in gas securities was heard to predict thaS the
stock of the Consolidated Company TOn1a SCI.
higher than ever after this blizzard" lnvestlga-
tion had blown Over"as he expressed 1t. lie
Ny :" customers never rightly understood the
in the testimony thus far show that there is no se
curity in the world to equal them gO,o
panS managed ls%s on p''SS Business principles fS?E
at the Manhattan Company, paying dlvlden nn
of ten per cent and laying by surplus IN l fhsn
after selling gas at rs cents thousand ANA theh
when the cruel war was over putting mp their
profits Two hundred per cent at bound Dy lneEeas
Ing the price Of gas to 81 20. wan ,a bv SnV.
ing Municipal stock at 80 cents on the dollar III
1850. and after getting dividends OF twenty-five
per cent year for four years, drawing the grand
prze in the Consolidated scheme with million or
so OF cash surplus thrown In as an extra dividend:
Now. mark my words, and see now true they aie a'
This investigation won't amount to hill OF
beans Even if the committee draws up olii
there is money enough h in aes gas RU %
Then we shall have things where thoy were be-
fore. The Mutual Company will get its charter
amended by striking out the clause, making it
miedemeanor for it to combine with the either COM
panies. The Equitable will then be the only com
panv out of the consolidation. There VIII be Dig
tight and after it big reconciliation. Inc cnarter
of the Equitable will be bought for say I'VE millions
aud forfeited on account of the clause which pre-
vents the company from selling gas for more thaii
81 rs a thousand. What thepY consolidated
monopoly; capital $5O,O00,O00, and gas at "
thousand Oh, there's millions IT !"
f. the FSd'nt , Hf hf
differently. II believe" he said yester-
day to a TRIBUNE reporter. that this SEN
ate Committee will give us thorough reform In gas
matters We have just cracked the coc0anut
wait Till we get at the milk in it. This is a big sub
ject We must show the people how these great
Corporations have abused their gifts, waxed lat
and kicked. Then | am ready for arbitration to
secure equal and exact justice ON Doth SIDES u l'r
price for good article. If the gas companies VIII
not submit to wholesome aud equitable legislation;
if tbey stand their legal and constitutional
rights acknowledging no authority OF Their
creators why then the same power that has secured
Them monopoly IN the supply of gas to New-YoTk
can strip them of it., and the end will certainly be
cheap gas and plenty of it, with say eight per cent
return upon the mOuey actually invested e.,
A gas stock so conditioned should be made avail
able for trust funds and would sell al premium OF
q hundred per cent. 1t would, In fact, be better
security than a Government bond. But L nave
great faith in the committees ability to recon-
mead bill which will suit both the people and the
gas companies. For myself, am interested In no
gas stocks and have frequently and emphatlcaIly
refused such in,cleS 1 am simply hgatng LOT
cheap gas"