The sun., 1897-12-24

answer this question yior the benefit 81
those to whom this etatemeut is address.
ed is the purpose fer which ii is issued.
And ask the attention Of the holders of
Boston United Gas bonds, the Boston
consumers Of gas, the Board of Gas and
Electric Light Commissioners, and the
incoming General Court, to that which
the promoters Of the New England Gas
& Coke scheme must do to fulfill their
promises and pledge myself that in
coming proceedings in court and else
where will show by what means the
New England Gas & Coke scheme pro-
motels intended to fulfil their promises.
It is necessary for the holders of Boston
United Gas bonds to know that
to make possible the fulflment
of these promises it will be neces-
sary, upon the completion Of the coke
ovens at Everett, TO dismantle and dis
pose of the valuable real estate and
plants now own.d by the various Boston
gas companies, and which constitute the
tangible security back Of their bonds,
and to use the proceeds, not, as is de-
manded by the trust, in the redemption
of bonds, but dissipating the proceeds in
way to reimburse the holders of $17,-
$4,000 of New England Gas & Coke
Company stock, which is all water.
Even New England gas and coal scheme
promoters would not pretend to say that
the proceeds Of this valuable property
would be used for the redemption Of
bonds, for Immediately these bonds are
redeemed, the property, franchises and
business would revert to the Bay State
Gas Company Of Delaware.
It is necessary for Boston gas consum-
ers to know that to make possible the
fulflment Of their promises, it will be
necessary for the New England Gas 4
Coke Company scheme promoters to
secure from the present consumers Of
gas, and upon the present consumption,
land quote their official document
total net earnings in addition to what is
to-day taken from the same consumers,
Of over 100000 per annum. For of the
total earnings secured from the pres
ent Boston gas consumers, only three
hundred and odd thousand dollars can
go to the New England Gas & Coke
Company, when, by their own showing,
they must receive, to fulfil their promises,
$l,05O,OO0, plus the $24s,OOO received
from tar and other things.
It is necessary for the Board Of Gas
and Electric Light Commissioners to
know that to make possible the fulfil.
ment of their promises, the New Eng
land Gas & Coke scheme promoters must
keep intact an agreement now existing
between the Boston Gas Light Company
and the Brookline Gas Light Company,
which, in effect, is the strongest kind Of
lease, the strongest kind of security
guarantee, III, strongest kind of a sup
pressor Of competition, the strongest
kind of an arbitrary price maker, and
the strongest kind OF a violator Of all the
present laws and past traditions which
surround the manufacture and sale OF
gas in the state Of Massachusetts, and to
make possible the fulfilment of these
promises, the Board of Gas and
Electric Light Light Commissioners
must close their eyes to the fact that
Of saving of $5O0,OOO per annum in
the manufacturing cost Of gas, on the
present basis Of consumption, and that
Of a saving Of 5000 in the cost of gas
manufactured by the Brookline and Dor
chester Companies, not one cent is to be
returned to gas consumers through re-
duction in the selling price.
And, lastly, it will be necessary for the
incoming General Court and His Excel
lency the Governor of Massachusetts to
know that to make possible the fulfill
ment of their promises the New England
Gas and Coke scheme promoters must
again drag the Massachusetts Pipe Line
Company to legislative halls, to the end
that they may secure dividend on the
hundreds of thousands Of dollars which,
by their own admissions, they have paid
for this corporation curio.
1t may be impossible for any one in
this; the end Of the nineteenth century,
when financial miracles are daily being
paraded for the edifcation of investors
and speculators, to say with absolute GER
tainty that the promises made by the
New England Gas & Coke Company pro-
noters will not be fulfilled. lean only
,ay that they will not be fulfilled until
after the incoming General Court has
had an opportunity to pass upon the ad-
Of allowing them to be fulfilled,
until the Board Of Gas and Electric
Light Commissioners have had a chance
% exercise the supervisory power for
which they were created, and until the
courts, both State and National, have
adjudicated all matters upon which these
are based, and until the hold
'rs of Boston United Gas bonds, the
holders Of stock and bonds of the BAY
tate Gas Company of Delaware, and the
INVESTING public have had ample oppor.
unity and time to weigh carefully and
rave adjudicated the merits and dement's
# this prudish child of modern finance.
THOMAS W. LAWSON,