New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-27
NATURAL GAS STILL FLOWS.
OF THE FIELDS AND TIE PRo'
DUCERe MORE HOPEFUL
PIPE LINES, 1T Is SAID. CAN BE USED FL"
MANUFACTURED GAS, If NECEsSARf-lN
THE INTERVAL BOTH COAL AND NAr'

THE INTERVAL. BOTH COAL AND NAT
URAL GAS .TocKS IMPROVED.
Pusbnrg. March p ,-peei:nThe Philadelphia
the largest and the original natural gas company Vi
the world his resumed the payment of DIVIDENDS y
quarterly dividend Of one per cent VIII be pau ."
April l. and the rate may be Increased iaVer III 'no
year. The resumption of dividends Is impf'ah'' ~
indicates a revival OF the business OF TRANSPORTING anu
selling the natural frcl in PittSbur- The popular
ont Of town impression IS that Western pennsylvania
gas has ceased to flow. and that the iron steel anu
glass factories Of P,;t-burg have all returned to the
u,e Of coal This is untrue, because the Phladeipha
Company and it, leased lines still furnish gas 10 aoo'
$50 factories and 1900 pr vac consumers Ill u,io
cities OF lfttsburg Allegheny and Mcheeapor'' INV
Peoples Gas Company also has hundreds ol pr,N'c
consumers in Ptsburg. ana many nils are sul9neu
By private lines. The searcherS after h''"''i e''
are repeating the experience Of petroleum producers
In that new fields to take the place Oh uri"eu us
trcts are constantly being found.
In the general decline Of Westinghouse stocks whch
followed their promoters temporary embarrassment Ill
the winter Of 1S9O'01, the Philadelphia Company
securities, with par value Of 500, sold us ~" d.
- = share although the payment Of monthly dNluehu'
of one per cent had not ceased until OCTOBER low
Charter, sold down to So although 1t had been as
high a, }Oa. Wheeling and Br'dgewater NatuidI "iH
companies also sustained frghfu drops, although they
have since recovered on discoveries OF OIL in thelp
territories Il hope Which is held ont 10 all gas corpora
tons Abont the time Of Mr.. Westinghouse troubles
an era Of enconomy in Philadelphia Company a1i''
Gcan and reduced salaries, more careful infringement
and fresh sources Of gas supply have stiiened the
market until the stock has reacted 10 *lo lhere Ca
i,t, renvigorated confidence with respect 70 the
stability Of the industry. The Eeevernon gas field
u,s dis,pDointing but the Moon Township, Allegheny
County. field opened up nine months ago, Is promising
thor, heinz one well with "A pressure OF 500 pounds
Then the Philadelphia Company has obtained n lease
Of 900 acres of promising territory in the new heid
Of Verona this county. where 7OOp0und well WIS
recently obtained. The Elizabeth field Is comparatively
new. There the Philadelphia Company has two or
three well, flowing ard sixteen drlnng. . =,
The Philadelphia Company's income is said to be
$1,000 month and i 6 Pra TG sna oe d tate
mrnt Of January l. 1892, gives the total assets III
80 go l0j Of which SGG32,j2l Is credited 10 pipe
lines "a, wells etc. II the flow Of natural gas ever
ceases entirely proposed to the pipes IN INC
trau -pOrutlon of "A manufactured gas for fnel pur-
poses which, il is claimed by the Philadeiphi oOi'
pany people Is success In the eNpeilmeh'ai etise d.
lcaf one Westinghouse corporation. the Fuel Gas and
Engineering Company HAVING devofeH Sevefa "a seai ,
object OF the company. But it is not expected tlat
this service will be needed for many years 10 'o"ic II
IL f fact that thousands Of hon eholders have re,
turned 10 TIE use Of coal They objected to icreased
prices for natural gas, but those VINO sun ad
the IN, companies will probably submit ~ further ad-
vances IL any are made rather than suffer from tne
dirt and increased labor. nconveniences when ae,on
many the nee of coal Thousands of houses in Pttsbnrg
and tile,h eny civ and their suburbs have hrepaces
Sh fnry lie baarths and man telpeces which would
be ruined with the use Of COAL whether DltumhOus OF
anthracite in general use a..
The partial resumption Of the use OF coal cohi'nea
PRINCIPALLY To the poorer classes has revived the hopes
If coal men, and big jump last week IN the stoch OF
the New York and Chicago Gas Coal company vas
garded Indication of the revival OF coal socAS a
around