Blackfoot news. (Blackfoot, Idaho) 1891-1902, 1894-12-29
LoNDoM.s as coMpAMn-
a Gigantic Corporation Successfully Ru,
on the Profit sharing Plan

| 'p"Fhhioh successfully Run
on the Profit sharing Plan.
an account Of the recent half-yearlv
meeting OF the Great South Metropoi-
iian gas company OF London. gives
such an idea Of its activities and ex-
ilplts MS operations IN light SO favor
ap'e that from the ordinary point OF
view i would seem 70 be an ideal
corporation, and. indeed, TO present a
near approach TO millennium. SO far
as the conditions OF an illuminating
supply may bring ii about Az first
glance therefore, one might be al
loss TO account for the well nioh
unanimous popular demand for a
ehange. The supply Of gas by private
com panles In London is hedged about
% very stringent provisions. imposed
by act OF parliament in the interest OF
consumers, says the Boston Herald.
One OF these requirements Is that the
rate oi dividend cannot be increased
without u corresponding reduction in
the price Of gas Ii appears that
TO this end the South Metropolitan
company last March reduced lis price
by one penny, making the rate about
iorty-elght cents, which was eouiya-
lent 70 a saving Of nearly $40, 600 a
year for consumers. In consequence
there had been large increase OF
business, equal 10 five and three
i0urihs per cent over that OF the cor
responding period Of the correspond.
ing year. The number Of consumers
and Of gas stoves in use had increased
10 a remarkable extent The COMPANY
puts ont gas stoves on hire. and the
number OF these increased from n 600
70 -, 1O5 In one year. The practice of
putting IN penny-slot meters and small
gas stoves lrst introduced. we be-
lieve. BY The city Of Birmingham with
its municipal supply has been adopted
With great success by this company,
meeting a demand Of the working
classes without making. il is claimed.
any surplus profit. The number OF
penny-sloi customers IS nov 20. 600.
nho used 1000 600 feet Ii one year.
~ a profit o. about $50. 600, u which
nearly $4,000 went 10 a further re-
tuciion ot price
For four years the company has
tried a pro3l-sharing system. and tie
experience, ii promoting efficiency Of
service On The part % employees, has
ls,cn 70 gratifying as to justify the in
rrease ~ the bonus. on condition that
one,haii b. invested IN the company's
ordinary stock Employees. therefore.
noa resolve ! per cent on their sal
aries and wages for every penny al
which gas is sold bslow SO cents a
thousand. IN ike years over $3.50. 600
has thus been paid 20 employees. one
halt 81 which il deposited with the
company 81 I per cent The company
pays dividend Of rs per cent. but
being entitled TO pay iSl per cent the
remainder IL carried 10 the reserve
fund. Referring 10 the depuiation
which waited upon Hon. James Bryce
The other day. in behalf Of public
ownership ~ the gas supply,
,he chairman 81 the company
vcry naturally found grave objections
to such course j, would mean an
outlay 81 something like F2ju, 600. 900
for tho purpose, and he doubted the
ability Ia manage the business a. a
public enterprise. doubt tina; seems
hardly Justified by the experience Of
other large cities in Great Britain. He
held that consumers would have the
worst 81 Il. ard would have 20 pay
more for their gas in order that con
suncrs % electric light might pay less
Bnt that dividend 81 thirteen per cent
annually is what sticks in the crops Of
consumers. II the company earns
such q profit - TO equal is entire cap
iial stock in less than every eight
years they reason that under public
ownership the capitalization might
soon b. wiped out. and the consumer
be- given the advantage Of the present
enormous profit in the shape Of low
rates for their gas.