The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-31
RIVAL GAS COMPANIES.
ONE DESIRES EIGHT, THE OTHER
SIX PER CENT.
Two Propositions to BE Submitted at
Meeting OF the Council
Tomorrow.

the Court House yesterday ne Mdf
solemnlv assured that none OF the
gas pipss bad burst. Yet the air was
family impregnsted with II, as it has
been for a week or more. In reality,
thers has been a steady leak, and yes
terdsy there was regular explosion.
Reports, like sections Of an old boiler,
few in every direction and dropped
everywhere. Among other things, it
was declared that the old gas com
pany had thrown up the sponge;
that it had cold out to the city, OF
that it had prepared to put it's prop
ertv directly under the control OF the
city; that the Equitable Company
had a special charter; that il would
buy out the old company; that II
would do no such thing; that it would
certainly obtaia rights OF way, and,
lastly. that it would build works for
the city free OF charge rather than
be outdone that the Citizens
Gas Company believed the Equitable
10 be hing more than a club in the
hands of the old company, and was
resting on us OARS until the proper
time. and that it was ready to put up
when the right moment arrived. Very
little investigation was required, how
ever. to discover that the old gas com
pauy had made a proposition to the
CITY, of whose terms bo.h the Other
companies were fully advited, and
that the Equitable Company had also
made proposition. From this start
ing point every, hing was plain sailing
When the APPEAL man reached the
Court.H ouse yesterday the Equitahl:
delegation were in the act of bow nl
themselves out of President Hadden'i
private office. "Six per cent. J,
enough for US; we don't want s,
which fell upon the reporters cal
through the halt open door, wa
the Key 10 the whole situation
With it the repository Ct secret
was Enclosed. President Had
den gracefully submitted. ave
will have called meeting of the Coun
Gil Thursday afterno IN, +" he said, ut
discuss the whole matter. You are cor
rect in your surmise that the cid com
pany wants US to secure them pc
cent, the nsw company only pc
cent" ..
"In what shape does the propositio
of the old comAP"
"In the shape OF fifteen pages G
typewriter. They offer that II th
city will guarantee them 8 per cen
on their investment OF $750,OOo, an
will not grsnt rights OF way to an
ether company for the sixty veal
their charter runs, the city may nav
all over per cent. the company ca
make. Their books are o be open
iuspe ction at all timer, and they al
Indifferent as to the price CT gas. A
they want is a guarantee OF per cen
per annum."
"Win they have power to water tn
j stock or issue more bonds"
, "No. All that is provided agains
: They ag,es not to increase stock,
3 buy mines or build railroads.&c.
! nothing, in fact, except what is niece
g sary to keep up the works from tin
Il SIS the city, by this proposition.
have representation in the Board
Directors
mot voting representation. Tru
y we might appoint experts, have re
= ular inspector, watch the thing and
that way save the $4,000 or 80
p now pay for gaslight"
y "But the other company cuts und
,, them 2 cents? 2"
J Eyes; that's about the size OF
|: Th9 Equitable Company declares th
3 il has $5O0,000 of stock already su
E scribed and is ready to go to work
|: morrow. They waded right In and
Ia fered to put in a complete pant, 81
o. as should be perfeC tly satisfactory,
/, the city would give its bonde, with
4, guaranteed interest OF per ce
!, They even limited at less. There
Il 4. the two propositions in nutshell"
Of "And what conclusion have you
p, rived at ?"
" 81 am confirmed in the conviction
(, have always entertained, that the c
- should own it's gas and waterwor
g. II we Caunot then we should let do
Is, the bars and permit half dozen CO
e. panies to come in If they desire
r, There may be consultations, q
til watered stock a d all that, but com
re tition is one OF the dearest Of Ameri'
n privileges, and say what you pleas
n Is q coed institution. But tue v
IN best plan is for the city to own
Oh works, conduct them on the N
A economical basis, and cut down
3. price TO the consumer to an amo
in lust sufficient to pay the interest I
80 running expenses.