New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-26
GAS COMPANIES PROTEST.
THEY DECLARE THAT DOLLAR GAS
WOULD RUIN THEM
FIGURES SUBMITTED TO SHOW THAT 1T COSTS
NlNErY-EIGHT CENTS A THOUSAND FEET TO

FIGURES SUBMITTED TO SHOW THAT 1T COSTS
DELIVER GAS TO THE CONSUMER.
tBY TELEGRAPH TO TRIBUHEI
| Albany Feb 25-The Senate Committee on Mis-.
ceHaneous Corporations gave hearing this after
noon on Senator Can,or's bill to reduce the price
/ OF gas in New-York to 81 a thousand feet. While
this hearing was in progress the State Printer was
putting In type a bill submitted by Assemblyman
/ Dudley, of Niagara County putting the gas COM
panies and all transportation companies In charge
of the Railroad Commission This measure was
drawn UP by Mr.. Lincoln the Governors law ad-
/ wiser.
At the hearing Senator Cantor offered several
! amendments to his bill. the most important OF
| which was one designating the Mayor. the Con-
! troer and the Corporation Counsel as Gas Com
missioners.
+. x. Thurber. Of New-York. said that he was
instrumental in forming the Consumers Gas Asso-
citation. which resulted in reducing the price of gas
from 81 10 thousand to 81 q. but that did not
que that II could be reduced still further. He de-
clared that stockholders should be properly pro-
tected as well as consumers. On the question of
gas meters. he said that ne spent $50 900
gas-saving appliance. and his Investigations
showed that gas meters approximately cor
rect
Congressman Franklin Bartlett. representing the
East River Gas Company. said that he knew of no
popular demand for cheaper gas. 1t was asked for
only by two New-York papers. He said that his
company could never declare dividend If the bill
passed.
Henry Thompson. representing the Standard Gas
Company. which was incorporated after the price
Of gas reduced from 81 10 TO s. y. said that he
appeared for the purpose of presenting facts that
would show that TO pass the bill would be con-
fscaon. lie declared that 1t cost from IS cents TO
81 a thousand feet to get to the consumers, and
he gave figures TO support the statement This
made up follows: Cost Of placing
the gas in the holders S91S cents: meters. labor.
lamps etc, PSI, cents: taxes. bad debts office and
general expenses. 20. cents, wear ana tear on pipe
about 10 cents
". r. Bronx. representing the Mutual Gas Com
pany denied the assertion that the stock of his
company watered and said the capital OF
$4,000 represented the actual value OF the com
pany's property The company's dividends aver
aged a shade under per cent. If the bill passed
it could not pay more than per cent
Gas Company said that when the original com
panies consolidated the capitalization was
$2l.o The capital now %ns $500" go 49," $1,000
the Increase in value of the stock, ana not any
watering. The bill was blow to labor II II
passed the wages OF 4VV eihpIoHeS "ouiu ~ 'e-
Judge Henry E Rowland also opposed the bin
FOR the ,ratior 20 keen nm the price OF
gas There was however an agreement between
The companier that where a person had not paid
one COMPANY for the co 1sumeC another COM
many would not furnish that person any gas.
Frederic r. Coudert representing the Equitable
chise agreement in which the price OF gas was
stipulated 81 % a thousand feet and the Legs.
agreement any more than the gas company h I1ai
II was a vested right which could not be DESTROYED
He declared that If me price OF gas whS sdend
The committee took no action on the bill