Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-25
MONEY LOST IN GAS
Secretary Shields, of the Allegheny
Heating Company, Thinks
SYMPATHY SHOULD BE DIVIDED.
Owners of Stocks Who Have Been Pinched
by the Shortage Of Fuel.
CONSUMERS ALONE BENEFITED so FAR

Thomas L. Shields, Secretary of the ALE.
gheny Heating Company, is strongly of the
opinion that at least some holders OF
natural gas stocks deserve at present condo
lence rather than criticism. Mr.. Shields
says they did more to develope these
cities of late years than any other similar
number of people of equal means and that,
from present outlook, all they are likely to
have for it at the end of another year or
two will be a good many thousands OF tons
of wrought iron pipe under ground.
Mr.. Shields says that at present great
many holders Unnatural gas shares are peo-
pie of small means and many beside Messrs
Schmertz and Chambers have suffered and
some of these people of limited means will
suffer worse on account of their investments
than those whose cases attract attention.
Efr. Shields holds that some credit should
be given also to the large capitalists who
had the courage to embark in the business,
as while they marred their own fortunes
thev made those of others and contributed
at the same time to the general welfare.
THE DEPRECIATION IN STOCKS
Take the case, for instance OF CHARTERS
stock. There have been $50 share paid in
for rit,and to-day it could be scarcely hypothe-
Gated on any basis, and the dividends it has
paid amount to but little. Mr.. Shields COM
meDds to the consideration of kickers on
the advance in prices the proposition that,
aside from stock gamblers, they are the
only ones who have gotten any benent out
OF the business. The developers have
lost, and if any have made money
it is the consuming party; the con-
sumner getting something for his money,
The Allegheny Heating Company expects
q better supply this winter than heretofore,
and the Secretary states that 1t will be much
better than last year. 1t Is generally known
that his company gets its gas from the Phil
adelphia Company, and the latter has been
doing considera bic to increase the supply
The company has bought two wells up KILL
buck creek ana l2inch line is being laid
from there to Allegheny City When the
city line is reached the heating company
takes hold, and its share of the cost is put at
$50 900, which, Secretary Shields states will
cut into their profits heavily, but it is case
of must, though some people incline to
think that hopes are entertained of getting
q substitute for the natural article ere long.
The distance from the city line to the wells
Is eight miles,
PREPARING TO GET MORE GAS.
The Philadelphia Company has also
bought some half dozen wells in the Cora
opolis field, and line of pipe is now being
laid to connect with the CHARTERS line at
Mchee's Rocks. The lower portion of Allie
gheny City will be supplied from this line
and this, Mr.. Shields stated, would increase
the expenditure of his company. Alto
gether, he said, there was a prospect that
the winters revenue would be spent in these
extensions.
At the meeting Of the Board of Directors
on Saturday, as stated in THE DISPATCH of
Sunday, it was decided that the advance
made by the Philadelphia Company would
affect the customers of the Allegheny Heat
ing Company to the same extent, So after
the September reading of the meters gas
will be 20 cents per LOCO feet for cash, e5
cents on time.
If artificial fuel gas does not take the place
of natural there will still be considerable
salvage for the Companies, though the mar
ket will be glutted with wrought iron pipe
for some time. 1t does not appear to de-
preciate very rapidly, in fact, scarcely any.
Some unearthed the other day, the covering
of which was mainly cinders and tanbark,
was not injured in the least, though it had
been subjected to the sulphur of the cinders
and tannic acid for seven years.