The Portland daily press., 1888-04-09
THE GAS STOCK.
other Merchants Who Believe In a
Thorough Investigation.

A PRESS reporter saw number of mer-
chants Saturday and asked their views in
reference to the proposed investigation Of
the Gas Company's books in order to ascer-
tain conclusively the yalne of the stock In
not single in ,tance did he find an ohjec ion
raised, but everyone speaks favurably of
the plan. Some, however. declined to have
their opinions quoted as they dislike to see
their names in print.
MIR. Philip G. Brown, of j. b. Brown &
Sons, thought 1t was the only proper thing
to do. He believed that thorough inves-
tigatlon should be made 80 that the actual
value can be obtained. Thus if the city de-
sires to sell its stock the advertisements will
state that no bids will be received under a
fixed price. 1t is generally understood that
there is a surplus of from $4,000 to $4,000
still in the coInpany's treasury. He be-
lieved that he would be warranted as gen.
tleman in going out and buying all the gas
stock he could secure at 100. which is double
the value of the capital stock. OF course
the purchase would hinge on the ability to
obtain the stock which, under the circum-
stances, does not seem at all probable. He
believed in selling the stock after its value
had been ascertained.
Rines Brothers thought the course suggest
ed by the Press emnently desirable. If
any combination should secure the electric
light aud gas stock this city would be in a
nice position as far as regards the lighting Of
its streets.
X. John Little d Co. thought it was the
only business-like course 10 pursue Is 1t a
good plan to sell ten per cent. stock to bor-
row money at four per cent?
Rufus Deering, of Rufus Deering q Co.,
believed that when man had paying
piece of property he ought to keep it, when
it was unproductive he should
sell it as quickly as possible. The
time may come when the city will
want that gas stock more than 1t pays
them now. We may not always want to use
electric lighting. No one can tell what may
turn up in the future in regard to this meth
cd of Illuminating. 1t is still in its infancy.
As matters stand now in Portland n man
cannot afford to get into deb.. Suppose he
buys $4,000 house and pays $4,000 cash.
The other $1,000 costs him at least two per
cent. in taxes, and six per cent in interest
money, two per cent. in insurance, a total
of ten per cent. Then again there are no
longer the margins of profit Competition
is great and profits are very small. Many
firms are not or have not been abba to do
more than pay expenses. With this condi-
tioL of things in our city for goodness sake
If we have one piece of property that pays so
well the dividends and: helps.keep taxation
down LEFT M hold ON tn III
w. w. Brown, of the Berlin Mills Co..
thought very favorably of the plan to inyes-
tigate and find out the stocks value.
w. w. Woodbury.. of Woodbury. & Lath-
am, highly commended the plan. He fur
ther thought that after the facts we're OBJ
tanned full detailed statement or schedule
should be prepared and published not only
for the benefit Of the city, but also for the
individual stakeholder.
Thomas Shaw, of Shaw, Hammond &
Carney, thought the city should look after
the gas stock and any other valuable proper
ty If possible, with the same care that any
business man takes of his securities.
j. II. Fletcher of Fletcher & Co., thought
the most rigid examination should be made
and all the facts brought to light.
j. e. Palmer was much pleased with the
idea and hoped it would be carried out.