New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-04-04
CHICAGO GAS FIGHT BEGUN.
~rU MORsEL FOR WALL STREET
BULLS AND BEARS.
,,o,v CITIZENS OF CHICAGO ARE BENEFITED
BY CONTESTS INVOLVED IN EASTERN
spECUGATIoNs-A MEETING HERE
YESTERDAY

YESTERDAY.
legislative fight in the Common Council Of the
TO-, ~ chicago over the question OF the gas supply
cry 49,, civ has had big Wall Street end. owing
"a .ho prominence in the market of the stock of the
r,,,a,o Gas Companies. The speculation in Chicago
80, stock has turned more than once upon the at
do of the Aldermen OF the Exposition City, and
.,osc Aldermen have been suspected often of re-
,,inr inspiration from bear operators in New
york At present the efforts of the bear faction are
lreced toward persuadlng the Attorney General of
Ii,nois TO institute quo warranto" proceedings
s,err,jne whether the present organza tion OF the
,htcaro Gas Companies is trust in the sense
,,r,ca to the Illinois law. hearing has been had
before the Attorn General and his decision Is ex-
a,,eI in a few days. He has declared that ne Will
consider the case on its merits and give one the
hcnod, Of early knowledge of what he decides.
tn. decision Of the Attorney General will go no
r,r,ber than possibly to bring the case before the
Illinois courts. In that frlencs of the Chicago
Cas- Companies say that they will be perfectly
satisfied and will be able to prove the legality Of
ibSir organization Should the Attorney General de-
ode hat no grounds exist to justify any legal re-
view Of the case the advantage 10 the Chicago or
canzaton Will be obvious.
The Chicago Gas Companies has been threatened
win opposition from the Mutual Fuel Company.
which now possesses a charter covering Hyde Park
and the district south Of ChiCagos ola corporate
limits The Mutual Company has been seeking 10
cot s charter extended to the pOpuOus districts OF
Chicago and the Mayor of Chicago Is opposed TO this
movement. unless 70 cents per 1000 cubic feet IL
made the maximum rate OF charges of the company.
The Mutual people do not want TO cOncede anything
less than 81 per 1859 feet. As the Chicago Gas Com
NAMES viii by the contract with the city. come
down 10 the 81 basis within three years, the Mayor
of Chicago holds that the privilege OF tearing up
the streets Of Chicago must be granted only for the
cake Of securing a generous concession of charges
10 citizens from the Mutual Company. But the Chi
caro Gas people have determined TO force the fight
ing against their enemies
The Economic Company, which now. pipes natural
gas as fuel into the busy Chicago districts has here
,ofore left the Hyde Park district alone. The
many is controlled by capitalists friendly to the
chicago Gas Companies. and ii decided at
meeting held here yesterday by the Economic Com
pany to invade the territory of the Mutual Fuel
company and to supply natural gas for Illuminating
purposes NJ the rate Of 30 cents per 1000 feet The
Mutual Company has been charging 20 cents for
manufactured gas The friends OF the Economic
Company say that they have pipes. metres ana
material hand now sufficient to supply the Hyde
Park district and that therefore the new scheme
OF competition can be carried ou' with comparatively
small expense. The new step of the Economic Com
pany viii be hailed with delight by the citizens %
Chicago but il may be serious blow 70 the Mutual
COMPANY which is seeking to invade the territory
Of the Chicago Gas Companies and may add new
zes 10 the speculative transactions at the New
York Stock Exchange.