The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-04-07
LOOKS LIKE BUSINESS.
THE NEW GAS COMPANY PRE-
SENTS ITS CASE.
The Third Organization Asks for n
Little Time 10 Make Some
Figures.

A meeting Of the Council Commit
fee on Gas was held yesterday at the
Court He use at o'clock in the after
noon. Those present were Massrs.
Hadden, Lee aud Montgomery, Of the
committee; Messrs. j. W. Cochran, /.
Kazsnberger aud b. w. Hnsh of the
Equitable Company, and Col. George
CAN'T, representing that organization
as attorney. The discussion was pure
" informal, snd while Il much better
understanding was arrived at no con-
illusions were reached.
Col. CAN'T said the Equitable bad
the money necessary to build, and it
did not depend upon local tubscrip-
tons; that it was ready to 60 to work
at once and would certainly not waste
an hour from the moment the tint
shovelful OF ealth was thrown up
until the works were in operation, as
their capital would be dead until they
began to derive revenue.
Mr.. Cochran was more definite, he
said II ~ he could assure the commit
tee that in eight months nom the time
p' mission was granted gas would be
turned on.
Col. Gautt was asked Il the new
company proposes TO furnish gas free
70 the city trhghting the streets and
public buildings. He replied tina,
nothing had been said TO him on that
point, but he believed he would with
out further investigation advise his
clients against any such offer, and
would warn the city against any COM
pany which would make such protler.
He believed something had been taid
about giving the city all the revenue
over 6 per cent, but on that point he
was not preps red to speak.
Mr.. Cochran said EN- ohatically that
his company had no presents to make
in the shape of free gas 10 the city, but
would furnish gas at 81 rs per thou
sand or less, IL was proposed by. his
company, he added, TO cover the entire
city.
Col. CAN'T said that the charter OF
the company, granted under the gen.
eral law of the State, required them to
supply gas to those requiring 1t when
ever the request was reasonable. lie
was satisfied that the process used by
the Equitable Company was the
cheapest and best known, and he be-
lieved IL would ba but matter OF a
little time when 1t would be generally
adopted. He went on 10 speak Of the
laws of the Taxing District and Of the
State, and gave it as bis opinion tn At
the city would have no power under
the law OF 1875 to create q monopoly
and run il. He doubted II it could be
done anywhere in the State. There
was nothing in the act, however, he
admitted, to prevent the city from
owning and operating gas works, pro-
vided it granted the same privilege to
other gas works. He suggested that
the question be submitted to the City
A torney.
Questions were poured in thick and
fast upon the attorney and the mem
beers of the committee, none Of whom,
however, committed themselves.
Stripped of verbiase, the company
proposes:
l. To lay its pipes and distribute
gas within a reasonable time, say
eight months, after permission il
granted, provided toe much time il
not consumed in reaching ConClu
sion.
To furnish an adequate supply
OF understandable gas at figure MOI
greater than 81 70 per 1000 cubic feet
g. To enter into contract which
shall specify that 100000 is to b'
paid the city for the use Of its street,
and alleys, sad $4,000 to be paiC
whenever the price OF gas shall b.
raised above 81 20, or when the com
par shall sell out 10 or consolidate
with rival company, said 100000 L
be first mortgage on the plant.
4. To give the city the benefit OF an!
revenue the company may derive owe
six per cent.
The committeeman expressed them
selves as pleased with the proposal o
the Equitable, and promised to give
the subject thorough investigation.
Capt. James Lee said Mr.. W. d
Bethel OF the Citiz enc Gas Compan!
he'd made a proposal to him, which
he said, would be drawn up and sub
mitted in proper form in few davs
when he had time to make a lew iiI
ures. In a general way, however, III
proposed to put down ample work
and furnish gas at a price not gre ate
than 81 IS, and would agree that wheI
the plant was finished he would turn
it over - the city for bonds in thu
actual amount OF cost, bearing six pc
cent. interest.
The me citing adjourned subject t.
call.