The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-04-02


had at the prices no other process
can bfat it, and there is no process
which makes SO pleasant and fgreea-
BILE gas. However, if on thorough
investigation, there can be found now
or in future cheaper and better mode
OF making gas, why can't we
adopt II as well as any new company.
The Memphis Gaslight Company
commenced butiness about thirty
years sgo with 100000 capital. 1t
has paid cut in dividends since near
S2,OOO,0O0, and to-day the capital
stock is S745 900 and s240,OOO
bonds; Thirteen years ago the
elpral stock WAS incrC as su
from 100000 to this amount
to purchase the Gayosa Gas Company,
competing gas Company, which the
Memphis Gaslight Company now OVID.
In the last IN rteen years no stock
dividends have been declared, but
many hundred thousand dollars have
been put in the works, aud to-day
there is but title or no wa
ter in The stock az many suppose.
With ~ net per 1000 cubic feet
for gas the company can pay per
cent. per annum dividend on The stock
and the interest On bonds. II the city
to increase in population in
a year or more 10 per cent. can be
be paid as annual dividend. In from
five to ten years Memphis will proba-
bly, grow 10 be city of over 100000
people. If so,
THE GAS PRIVILEGE
then, with gas at 50 per 1000 cubic
feet MT, would probably paw s psr
cent. dividend on over ST 500, 900 capt.
tai stock. Gas is a wonderfully in
creasing al ID profitable business in a
growing town. The original stock
holders Of the Memphis Gaslight Com
pany Ieaped large dividends of
8 ock and money. With one
or two exceptions, owning small
amounts OF stock, there ia not
an original stakeholder now owning
stock in the company. The present
Stockholders, almost entire, have only
had from "A to about 10 per
cent. dividend annually on Their
stock. Gas has been cold higher for
years past than it would have been but
for the fact thst there was an opposi.
ton company some years ago which
the field profassedly to per
lower the price OF gas.
An exclusive franchise 10 sell the
people of Memphis gas and not charge
in excess of So per 1000 cubic feet 70,
or thirty years is worth
perhaps 81, 100000 and over, without
any works at all. Should Memphis
grow to be as large ss Cincinnati in
twenty-five or thirty years the exclu- |
sive gas privilege, win works to fur
nish 1t, which could be built from year
10 year and still declare dividends,
would be worth near $4,000 900 |
,snough money TO almost pay your |
public debt when It may fall duel and |
besides pay dividends OF millions
10 the meantime. / make these state
ments to impress you with the i'm
Dortance and
VALUE OF FRANCHISES
cities everywhere have given away in
lines past, and even now every day.
Large amounts of money have been
'esped out of the gas privileges OF
Memphis, but still larye amounts sre
yet to be made il the city should
row as we all anticipate.
Now, the proposition which / mott.
led you some days ago 1 had 10
ubmit to you was this: The Mem.
,his Gaslight Company and the
Taxing District government at pet
mt own the exclusive privilege
u selling gas to the citizens of Mem.
,his for over fifty year,. They own it in
his way. The Gas ComOsny have q
ranchise and works, aud cannot be
made to vsoate. The Taxing District
'wn the control of its streets. With
nut its consent no other company can
Jet in, ana hence between the
wo the exclusive franchise. AS
'efore stated this franchise is
cry valuable, and now why not the
axing District reap a great part of
his value, instead OF allowing 1t to be
Filtered away by Standard Oil Com
any representatives. To this end /
ow make you this proposition: The
lemphis Gaslight Company never 10
barge the citizens of Memphis in OK.
ess Of q per 1000 feet for gas. Give
the Tax ng District for all time to
ome, or during the existence of the
barter OF the Memphis Gaslight Com
any, all the net earnings beyond s per
ant. per annum on the pres ent amount
| capital (al charges and expenses
'hich have heretofore been raid by
10 company to be paid before any net
arnings are considered made). The
OF the company to con-
oil and manage the company as here
'tore, but allow the Taxing District a
preventative either in the Board of
rectors or in the shape of a carte
Gnche to
EXAMINE OUR BOOKS
I'D proceedingsin any way and see that
'erything is conducted honestly and
good faith. Bind the Gas Company
written contract not to expend it's
innings in exIavagant Ealarits to its
hcers, or otherwise needlessly ex-
md them, and on the other hand
nd the Taxing District to take I
Itself and keep for its |
yn beneti; and use during the
Iisience of the charter aforemen- !
Dned, and not allow any other gas !
'mpany to share, all the net profits :
yer and above the per cent. divi- !
end, annually, on the present capital I
ock oil the company. II the net earn I
GO should any year fail short al per a
MT, then whatever smount which 3
light be earned must 20 to the I
and not more. l r
i've now hastily and in the rough 4
omitted to you my proposition, r
hich will in the future, if accepted, 4
of immense value to your govern /,
ent, as said in the beginning. You n
We nothing for it except in the very h
'ture OF the transaction, in availing n
urself OF this great value, you make h
g stock a permanent property and /,
ereby increase the value to the stock Il
'lders. OF course when the net earn a
gs Of the company exceed s per cent. a
hich l believe will be the case at X
start, but can't say for certain, since b
D reduction of gas to 81 after this Ii
)nth, and Is have not had oppor- n
nifty yet to observe the effect on con- al
you can appFopliate them ~