The Portland daily press., 1896-05-21
PORTLAND GAS. LIGHT co.
The Annual Meeting and Election OF
Directors Held Yesterday

The Annual Meeting and Election of
Directors Held Yesterday
The annual meeting of the Portland
Gas Light company was held yesterday
afternoon at the office of the company on
Temple street. President Davies presented
his annual report as follows,
The consumption of gas for the year
ending on the Both nit, was 81, 559, 900
feet, a gain of 1889, 200 feet over the
preceding year.
Six thousand seven hundred and eighty
one tons of coal have been used, and III
tons of oil, yielding rs, 914, 600 feet of gas,
with an average Illuminating power of
nearly twenty candles The loss of gas by
is about IL per cent.
The net income from sales of gas Is
$43, 513 rs against $50, 205. 90 for the pre-
ceding year, when owing to strikes we
had to use some inferior COAL
The net income from sales of coke Is
81. 776.24 and from coal tar So, 1858. b6,
making in all $l3, 584. so against ST. j, 016 90
in the preceding year.
We have now 1910 consumers a gain OF
119.
We have sold 23s gas stoves during the
year, making sos now in Use, and 1, 1863
Welsbaoh lights, making about 5000 now
in use.
Sixty-three now service pipes have been
put in, and.. 3103 feet of newsstreet mains
have been laid on the following streets:
Sherman, Oak, Crescent, Vesper, Neal,
Brackett, berland, Lewis, Taylor,
Arsenal and Ellsworth.
The principal repairs at the works have
been in the renewal CT the eight benches
of Tetorts in the westerly section Of the
retort house, with regenerative furnaces
and iron fronts. and new iron floor
costing about So, 700 As part Of the labor
is by our own men, 1t is not convenient
to keep an exact account, nor is it i'm
portant as all such repairs are charged to
pr oft and loss.
For the current year eight benches of
six retorts each are to be built in the
easterly section of the retort house, In
place of the ten benches Of five which
have given out. Some additional excaya-
ton has been found necessary to get a
good foundation. The expense is esti-
mated by our engineer at about $500.
About feet of the reuort house wall.
on the northerly side has become unsafe,
owing to the settling of the foundati on,
and must DO rebuilt. 1t will cost some
$7O0, as the iron roof must be supported
and the wall rebuilt a piece at a time.
Our sorubber and oondensers were
hardly sufficient for the maximum
quantity of gas made per hour, last win
ter. Our engineer Is making investiga,,
tions to ascertain the most approved
kind, and in view Of the probable in
crease in our output of gas we may con-
olude to put IN the new apparatus the
coming fall. The cost, SO far as enquiries
have been made is estimated at some
$4,000
Owing to the comparatively small
amount of expenditures Tor renewals at
the works during the past year, and of
some other ordinary expenses, the direc-
tors have BEEN able to declare the usual
dividends by taking $4,000 only from. the
profits of formor years. And they have
voted to reduce the price of gas from the
first of July next to 81. so per thousand,
with the same discount for prompt pay
ment and the same rebates as heretofore.
A request was made by the Mayor that
dividend of $50 a sha re be declared.
This would give the city about $54, coo to
go towards the large appropriation that
must be made this year.
President Davies said that the company
had been very generous with Its diyi-
dends in the past, and that as reduc-
tion was to be made soon in the price of
gas it was necessary to keep a good re-
serve fund to protect the public.
Alderman Thompson asked if this twas
not private corporation, and il so why
1t should divide it's money with the pub
lie. 1t didn't seem to him to be business.
Mr.. Fobes saw the matter the same way
as Alderman Thompson.
The requested dividend was not de-
clared. but the regular dividend of &c. SO
share was declared.
The following directors were elected
Edward Fl. Davies, William W. Thorn as,
William Fl. Moulton, Fred N. Dow,
Charles S. Fobes, Zenas Thompson. /
The directors organized as follows
President, Edward H. Davies; treasurer,
Samule Rolfe ~