The herald., 1897-01-17
ln- to-date view of the gas business is

up o-date view of the gas business is
this: Make low price and get large
output; get large output and you can
afford TO make low price. The two
things go hand in hand; they cannot be
separated But there is nothing novel
In this; it is the principle of large sales
and small profits actuating every pro-
gressive house in Los Angeles today.
So We shall make our price $1.35 per
thousand feet"
when are you to begin building the
works?" was asked.
Il am glad you have asked me that
question. 1t will be some months yet
may as we'll say to you that we shall
not start until we have practically all
the money subscribed for the entire
plant; then we shall be 30 firmly in
terested financially as to avoid the
difficulties besetting weak companies -
Where will the money come from,
Mr.. Smith," asked the reporter
Mainly from the east. but we shall
shortly offer a certain limited amount
of our securities here. We have n
double purpose in this. We desire to
afford our own people an opportunity
TO invest if they desire to do so in order
to satisfy local sentiment in the matter,
ana then we are not insensible to the
positive advantages to the company in
moderate local holdings of our securi :
ties, above what the projectors can
themselves take, thus better securing
our outside capital against neglect and
unjust attacks.
Il want to refer again to the matter of
our not being constantly In the newspa- i
pers. 1t would be a simple thing for US
to be negotiating with dozen real
estate men for site to be in evidence
every other day at the the Offices Of the
superintendent of streets and of the CITY
engineer, and giving you little items
every week; but that plan is not suited
to the ideas of either myself or my asso-
ciates. and l hope our friends will not
be disappointed because they do not
hear from us often. We wifi give Won
plenty of items after while"
WHO are the local men in the enter
prise?" asked the reporter
They are Geo. H. Bonebrake, H. ].
Woollacott, w j. Washburn, A. Jacoby
and NJ. I. Allen. Judge Allen we may
lose on our board of directors because of
his elevation to the bench If we do.
Mr.. Frank P. Flint who is now our at
to-ney. will no doubt succeed him. In
passing, let me say that when gas at
$l.35 is an accomplished fact in this city,
one of the mem most entitled to credit
for 1t will be Judge NJ I. Allen.
Now, l should like to ask you some
questions if it be in order" said MIR.
Smith. 1T would be hardly regular for
an interview, I suppose, but it might
please your readers quite as much as
what you already have
There are many things about this
beautiful and wonderful city that |
should like to ask, but as you are not
likely to print this answer perhaps / had
better not bother you with these ques-
tions."
Mr.. Smith then said that the weather
up to New Years day was fine in New
York city; that, in fact December was
the driest and best it had been on the
Atlantic seaboard for years. But at
Chicago winter of the standard variety
was encountered.
This good weather at the east has no
doubt had some effect in retarding trav-
ell TO California;, but the chief thing has
probably been that they hadn't had
quite as much sunshine in the business
world as was expected to follow election.