Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1897-11-06

VIII shortly mail 10 all owners Of Duilu-
ings that come within the scope of the
fire escape law q notice that they must
comply with the law or prosecution
will follow. They will bc given thirty
days In which to conform TO the law.
There are several thousand buildings
in Chicago and the state at large to
which the law applies. The inspector
says that he will discourage the use Of
ladders and try to have stnirways
adopted whei ever practicable. Hun.
drcds of notices are being sent to own.
ers IN the cities and towns throughout
the State.
The Greater New York election was Il |
New York affair. No national party
could have any proper interest IN 1t.
When the Tammany organization of |
thugs. who Hve OH the wages Of shame.
put up their dummy candidate on the |
pretext Of party principles, the pretcxt |
was lying cheat and the Yellow Kid |
knew II. yet he went TO New York to |
aid that gnng and further the cheat. |
and help fOist Cookers putty man on
the good people Of New York, and he
richly mcrited, ana deserved. all the |
abuse the people of New York i,eaped
upon him ana his creatures during their
stay In New York City.
"A. D. Cooper. who will not bc renom.
limited to succeed himself az Clerk of
the Probate Court. II now said to In
profound law student. 1t II claimed |
he even reads law in restaurants while
waiting for his meals. and has thus
become an adept at digestlng knOtty
legal problems along with his food.
The voters Of the sixth District nre
waiting for the Congressional candl.
dates. BOutellc and Perkins. to declare
themselves ana go on record az to
whether they will vote for the repeal
Of the duty on chickley ut the next SEES.
sion Of Congress. Chicago gum manu-.
facturers IRE deeply Interested In this
matter. and II II claimed they control
several thousand votes In the sixth
Congressional District.
mcnts may be looked for ut an early
date. and nm affidavit may be produced
thnt u prominent West slider received
round sum Of money for paving West
Jackson boulevard. This money, II II
further claimed, should have been paid
10 the Board Of West Park Commits.
slOners.
Current gossip has II that about 3d..
800 was pnld to certain person for
paving West Jackson boulevard during
the administration Of the former Board
Of West Park Commissioners. This II
said to be the chief reason why the
present BOarl Of West Park Commits.
slOncrs do not propose to allow the
West Division Street Railway Com.
pany to cross Washington boulevard
on Ketlzie avenue.
The probable sale of the Universal
ana Mutual Fuel Gas companies to the
Peoples Of this city for x5.GOO.OOO, Of
which about $3.OOO.OOO II to he cash
and the rest bonds Of the Peoples COM
pany. worth about x?.6OO.OOO. calls at
tentiOn to the enormous profit In the
gas business In Chicago. The Mutual
Fuel Company of Hyde Park has spent
only the $1.5OO.OOO represented by Its
stock. or perhaps even less than that.
as the stock may have been sold. to
some extent, below par: ana the stock
of the Universal Gas Company II not
much over $l.5OO.OOO. while neither
company has issued any bonds.
The owners of these two companies
are therefore going to obtain at least
about $175 for every 800 actually In
vested. Yet the Universal works have
only Just been built, ana the Mutual
Fuel Company, which was started In
1850, has paid good dividends almost
all the time for ~, when used for illu
minating purposes. ana ~ cents when
used for fuel purposes.
These two companies have been u
conspicuous illustration of the cheap
ness with which modern gas works eau
now he built, and n proof. therefore
of the enormous amount of water IN
|
Gas Company. The Mutual Fuel Com
| pany had un output In 1896 of about
1000 feet of gas for every SID, Ol
, Whereabouts, of stock outstanding. On
this basis the capitalization of the PEG
, pies company should not exceed SO,
O00. 600. instead of reaching the enOr
) nous sum of S5l,34G.OOO.
The Universal Gas Company, In or
. der to buy land and build works thor
h oughly up to date, with ~ per cent n
: much capacity rs that of the PeOple''
, company, formerly known rs the ga
q trust. was obliged to issue little, II any
\ more than S1.5OO,O00 worth of stock
which indicates that the entire manu-
featuring capacity of the trust can b'
equaled. aside from mains, meters ant
services, by the expenditure of les
@ than $5,OOO,OOO. The Peoples cOmpan!
I will undoubtedly issue stock ana bonds
v equivalent to what 1t pays for the TIVE
n new companies, thus saddling upon tn
:. people of Chicago fully $2,5OO,OOO NOR
@ of securities that represent no none.
q spent on tangible assets. Is 1t no
!. about time for the people of lllinOi
= to follow the sensible practice of Mas
l. sachusetts ana prohibit all further Is
@ sue of stocks and bonds by street rail
!. way. gas or electric light companies
n save where the money Is actually IN