The Providence news. (Providence [R.I.]) 1891-1906, 1892-09-06
THE GAS COMPANY.
What the Directors Said Of the
Business OF the Year.

the Providence Gas Company contains
the following information:
The amount Of gas produced for the
year ending with June 30th last was
6l5, OH. 900 cubic feet, showing IN increase
over the previous year of 90 l66, 900 cubic
feet, or about 5sl per cent. or the whole
amount produced IS per cent. was coal
gas and AZ per cent. water gas.
The gain of the past year over the pre-
csding year was equal to the whole
amount of gas produced in 1856, after we
had been in operation seven or eight
years. The receipts for residual products
for the year were S52, 144.69. This shows
reduction in the gross receipts for these
products as compared with the preceding
year OF 20, 753 81. This is a natural result
Of the reduced consumption Of gas coal,
from which all these residuals come.
During the year we have laid 80, 252 feet
Of main pipes equal to nearly IA miles,
which gives US an aggregate OF lSl miles
now in the ground aud in use, besides
about six miles of pipe laid by the Citi-
zens Gas Light Co; still 10 the ground
none of which could be wisely lifted from
its old bed during tho year.
Besides the large amount OF new mains
laid, we have To report ll.Al feet Tor
about 1-S miles, Of old pipe relaid, or re-
placed by larger and better pipe.
The number OF meters now in use Is
1900, an Increase OF 1884 during the year.
Tne increase IL 1874 greater than that of
the previous year, which was the largest
ever before reported.
Probably no growing city In the
country is SO well equipped in every de-
partment to meet the exigencies OF the
present or the near future for full
supply OF gas as is this city. 1t has been
the practice OF this company to largely
anticipate the wants OF this growing
city. Never for an hour has the city been
left In darkness by lack OF gas TO meet all
calls on us; and large as our output now
is, we could easily add 20 to 25 per cent. TO
IL, on demand.
There has been no change in the price
of gas since July /, 1890. At that time
our price was reduced to $L25 per 1000
cubic feet to the city and Sl.3O to all
others, equal to- gross reduction of about
$40, 600 per year. We had already entered
upon the work Of erecting the water gas
plants, which we now report MS finished,
at cost OF about $500, 900, and had then
but recently completed our largest holder,
at a cost Of 100000.
Instead of issuing new stock to cover
these large expenditures we used what
money was then in hand, and against our
usual practice, incurred large debt,
hoping TO recoup ourselves by a considera-
BILE saving in tho cost of manufacture by
this new process, Notwithstanding the
great reduction then made in the price Of
gas.
This we have done In part, and may
hope To complete during the coming year,
unless prevented by the clause in our new
contract with the city Of PROVIDENCE for
extension OF franchise (now made exclu-
sive); which binds us to pay TO the city 3
per cent. on gross amount OF receipts Tor
gas sold In the city, during the time
specified In contract; say twenty years
from Aug. 8, 1892, This contract will be
laid before you for ratification. Besides
the obligation above named are others
which you will Observe; viz 1st-to limit
our dividends to per cent, and 2nd-not
TO charge higher prices for gas than we
now charge; and after covering cost of
extensions aud improvements. and resery-
ing reasonable sum to cover exigencies,
to make from time to time such reduc-
tions FROM present or ruling prices as we
may be able to do during this period Of
twenty years.
We think that we should have had the
twenty years OF rest (Which this now con-
tract promises) from competition, or
threatened competition, in the supply of
illuninants other than we now have, in
oil, gasolenc and electricity, without pay
to the city treasury; but we love peace
and quiet, and have deemed 1t better TO
pay the price demanded rather than be
exposed again to the rasping irritations of
the last fifteen years-as prontless to the
city AS to us.
We have been grateful for the evidence
accumulating the last few years and
which this contract confirms, that the city
council could see no more reason for en-
couraging u competition in the supply OF
public gas than of public water and had
come to the conclusion, long ago reached
by London and other cities in the old
world, where gas is cheapest, to allow no
two companies to operate in the samo
district TX In the same city.
We get from the city in this contract
no new rights or privileges, and no con-
cessions except promise of freedom from
the raids upon our business and franchise
which have characterized the last fifteen
years-raids which have proved rs trou-
Dlesome TO the city as TO us, IL not as
costly.
II has been the aim OF the board to cul-
tivate the most friendly relations with the
city government-to meet its wishes
promptly even when extensive changes OF
grade like that at Corkey Hill, south of
Wickenden street, or new outlay of parks,
as at Hope street reservoir, etc, required
relay and long extension OF our mains,
always made at our expense and often
with no promise of compensating advan-
tage TO Us at the present, or in the near
future.