The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-02-26
GAS TALK.
ANOTHER GAS COMPANY TO BE
ORGANIZED,
Unless the Present Company VIII
Reduce the Price TO Half What
II Now Charges.


The air has for the last two weeks
been full OF rumors Of new gas COM
pauies forming, but the rumors were
dismissed as scarcely worthy Of dis
cussion, or at best the elimination oil
q scheme 10 depress the stock Of the
Memphis Gas Company. That it did
to some extent have that effect is APP
parent iIom the fact that the stock
has declined TO rs cents, about six
points lower than the ruling quota
lions two or three weeks ago, and at
that figure IL closed yesterday. An
APPEAL reporter was detailed yester-
cay TO trace the gas rumors TO some
authentic source, and after diigent
inquiry discovered that number OF
prominent capitalists were seriously
considering the proposition TO organ.
iEs q new gas company unless the old
company will agree to furnish gas at
half the present price. The names Of
the gentlemen interested In the pro-
iect are a tower of strength in
the community, and their pub
LEGATION will convince even the
most skeptical that they mean
business when they say I'VE must
have cheaper gas" In difference to
the wishes of these gentlemen the AP-
PEAL cannot at present furnish their
names. An indication OF their financial
strength may be gathered from the an
nOuncement that in the party are two
prominent real estate operators and
one bank president. The latter gentle
man consented yesterday TO bs inter-
viewed by an APPkAL reporter:
SIS there any truth in the report
that you are about TO connect yourself
with q company whose purpose will
be to furnish the people OF Memphis
with cheaper gas" was the first ques-
ton asked him.
There ie," was the reply. eve are
determined to have cheaper gas II, in
order TO accomplish that purpose, 1t
becomes necessary to apply for char
ter aud purch ase the neces sary plant"
what Is the motive OF yourself and
association - speculation or cheaper
gas 2"
"Cheaper gas," was the emphatic
reply. Neither l nor any Of the gen
tlemen associated with me would lend
our names to the prosecution of an
enterprise that had for its end gain
to ourselves at the public expense.
We have been driven to evaporation
by the exo;bitsnt charges we are now
paying, and we determined that they
must be materially reduced. We be-
lieve that gas can be proftably fur
nished at 81 % per 1000 cubic feet,
and we are determined TO try the ex-
pertinent unless our demands for
cheaper gas are complied with"
Suppose the old company becomes
alarmed at your operations, and offers
you and your associates handsome
sum to drop the enterprise now or
when the new works are well under
progress, will you sell to the old COM
pany without first stipulating for
cheaper gas for the publicP"
most assuredly not. We will
make no terms with the old company,
now OF hereafter, that do not include
an unequivocal guarantee that the
public shall be furnished with much
cheaper gas than 1t is now getting.
/ pledge myself to that solemnly."
HAS your project taken definite
shapeP"
ut has not; II has only been in
formally discussed, but to convince
you OF my earnestneBs in the matter
II win simply be necessary to state
that have since the LIST OF January
disposed OF all the gas stock / had,
amounting in value to $4,000, par
value" .I.....
SIS 1t true that it is your purpose to
introduce water gas ?"
Not exactly. We will avail our
selves, Of course, OF all existing APP
pliances to produce gas in the
most economical way, and We are con-
fident that we will be able to furnish
it at 81 % per 1000 feet and realize a
handsome profit. We have not as
yet discussed what method OF gas
production we will adopt. But what
ever happens you may say that the
public interests will be faithfully
guarded. / shall not lend myself to
the enterprise unless that is assured,
and my associates can be relied upon
to take similar stand"
"May use your name"
"Not vet. Nothing is settled yet.
We are not even organized. When
we get ready to do 80 you shall be
notified, and the public shall have full
information as to our plans and pur-
poses"
This closed the interview. The gen.
tleman who gave the reporter this in
formation stands in the front rank OF
the local financial world aud enjoys
the public confidence to the fullest de-
gree,