Los Angeles daily herald., 1888-07-16
The other Side.

i1DirohS dEhALD. helerTinR 10 an
article in your issue of to-day from cob
server" who writes rejecting on the
standing of this company, we wish to
state that we do not believe the article is
instigated by disinterested parties, nor
will any intelligent reader gather that
idea from reading the article in question.
In the first place observer" makes a
false and malicious statement when he
says that our company has a bonded debt
OF 81 SOC, 900, the fact being that there
has been up to this time but 800 900
bonds issued by the new company,
against $150,000 by the Los Angeles Gas
Company, and no bonds can be issued by
the new company except for actual par
value received for the furtherance of its
plans of consolidation under one head, of
the great business of furnishing. all over
the city, both Illuminating and fuel gases,
together with a superior electric light
system, furnishing of power to all that
need it, together with the purchase of oil
wells from which to secure a continuous
supply for the works, and the purchase
and improvement OF all other gas works
and gas interests in Los Angeles county.
Therefore the securities provided by the
Lowe Gas and Electric Company will,
when issued, represent more than four
times the business and value of the prop
erty of the Los Angeles Gas Company
with its inflated stock OF 81 ,OSO, 900.
Observer would also have the public
believe that the plant up to the present
time has cost but $150,000, when the
facts are, that the works up to this time
have cost about $3.50, 900, and are
already of sufficient magnitude to supply
more than double the gas that the Los
Angeles Gas Company can furnish, and
are the only gas works that the observer
can see, when looking from any of the
elevated points about the city; residents
here pointixg out the gas works to stran-
gers always point to the works at Seventh
and Alameda as the gas works of the city,
which you probably know are the prop
erty of the Lowe Gas and Electric Com
pany, the Los Angeles Gas Works not
being of sufficient size to be visible from
any distance.
When the present management came
into the possession of the Los Angeles
Gas Works, they only paid $50, 900, and
all which has been added since, together
with large amounts of money sent out OF
the country and that that did not thus &c
for supplies has been invested in North.
ern California and the people of Los An.
geles have contributed these large sums
for building the works and paying the
profits to the managers, by extortionate
prices for gas Of the poo. est possible
quality. o.
This is the concern that is now begging
for public favor and the humiliation o.
the new company who use their owr
money in building works and only charge
| sufficient for gas to return fair profits FOL
their investment.
| 1t is not such men as compose the Los
Angeles Gas Company who send all they
make out of the city, that has caused the
rapid growth Of Los Angeles, but on the
other hand it has been accomplished by
just such men as compose the new com.
pany, who bring both experience and
money and become residents of the city
and invest all surplus earnings to still
| farther develop the various enterprises
about them.
/ Unlike the managers of the Los Ange-
les Gas Company, who pay their stock
holders no dividends, all who are iden-
tilted with this company will get thei,
full share of their earnings, whatever
that may be. It is within bounds to say
that the rights and processes owned by
this company for cheaply producing the
most superior gas ever known is worth
infinitely more to this company and the
citizens at large, than would be all the
property of the Los Angeles Gas Com
pany and its management combined. y
As to reference to an accident to fuel
gas, we can say; that the gas referred to
as causing sickness to some people was
not the kind of gas made by this com.
pany, but was the same kind of gas as
now composes the bulk,of the Los Ange-
les Gas Company's gas. The same kind
OF apparatus as is now used at theil
works was also erected at the Minneapo.
| lis, Minn., Gas Works, which caused
the death of three persons the first day
they went into operation, but of course
all understand that such accidents are
owing to the inexperience of par.
ties handling the works. Still il
there is any danger, it is most
likely to develop by the use of the pro.
ducts sent out by the Los Angeles Gas
Company.
We will vouch that "Observer" well
knows that the Directory and Stockhold-
ers of this company are composed of q
large number of the wealthiest and most
Influential citizens of Los Angeles, whose
names, however, we do not parade fol-
effect as did the Los Angeles Gas Com
pany, when it so generously(?) an
nounced the reduction of gas rates or
certain streets occupied by this com
pany.
This company is here to stay and can
not be bought up or driven off and will
always be pleased to see it's patrons a.
204 South Main street, where all ques
tions not answered in this communities
ton will be fully met. Very respect
fully,
LOWE GAS & ELECTRIC COMPANY.
Los Angeles, July Is, 1888.