Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1898-01-22

very large intrinsic value. However,
such a company. to earn and pay divi-
dends on and give a market value to It's
stock. must build and operate its plant.
To secure the funds for this purpose II
Is necessary to interest capitalists who
will furnish the money for such pur.
pose.
1t Is the experience of Mr.. Rev up to
date. that three forces must he com
blned to fully carry out the business of
successfully pushing these new enter
prises. viz:
]. "A construction company, skilled
In the art of building and operating gas
works under new. unsurpassable. and
lmpregirable patented processes.
2. Promoters of public enterprises who
| are competent ID to secure the b,isl-
ness for new gas company by pre-
liminary contracts with consumers: (2
to OBTAIN n city charter under which
mains may Ike laid In the streets and
alleys, and 49, TO interest the capitalists
who will furnish the money necessary
to build such plants; and
| WuV VIII
money as needed to build the works
and take the bonds and a portion of the
stock Of the company ns an equivalent
Of such money.
The following fairly represents what
can he accomplished In this line:
| In 1894 several young men were en-
rloyed to canvass the prosperous and
rapidly growing city of Kansas City.
Mo-. in order to first secure the trade
and goodwill of the local gas cOnsunn.
ers. and population. at lower prices ($1
per NJ than those prevailing sI$1.GO per
Nj. Sufficient business was readily Sc.
cured by preliminary contracts with
consumers who were glad to see a pro.
posed new competitive gas company
thus endeavOr in this business-like
manner to enter the field of supplying
gas at lower rates for light, heat and
power.
When sufficient business had been So
cured to guarantee prosperous bust
ness to new AMI competing company
n few leading citizens, Messrs. X. NJ
Snyder. President Of the Mechanics
Bank; G. ]. White, President OF tn,
Citizens National Bank: Geo. +. Oim
stead, J. Crawford James and j. NJ
Lowe (prOminent mcrhants), were
asked to look into the merits of til,
promising enterprise, In order to SCI
for themselves, not only what u grea'
field their own city offered for yer,
large sales Of high-cand,e-powcr ga,
to supply light. heat and power ut low
CT prices. but also what n great stride
forward had been made In the manu-
fnc;ure Of gas from the cheapest ma
terinls.
Having fully satisfied thems elves o,
all Of these points. ana after u persona
inspection Cf the new works of tn,
Cicero Gas Company. near Chicago
they applied for the right TO lay MAIN
In the streets and alleys of Kansa,
City. Being supported by citizens O
the highest standing and character, til,
new charter was favOrably cOnsilere,
ana passed by the Council, strictly Ol
the merits Of the enterprise. Il wa
signed by the Mayor and became law
Jan. 10. 1906. thereby permitting IL
leading citizens to enter Into honorable
competition In the manufacture Of ga
by improved methods and the supply
. Ing Of 1t TO the city and people ut re
!. duced rates. The works nre now In ful
operation, supplying hlgh.ca indie e-pOwe
carbureted water gas, manufacture,
from cheap soft cOnl. crude oil. and wa
ter. under the Rev patents, through
more than eighty miles of large mains
, which are being rapidly extended 4
NIL parts OF the city.
. Meters, stoves and heaters are set b.
, the gas company without charge 4
I | consumers, ana the best means are en-
plOyed to educate the public In thel
economical use. This liberal pole
greatly popularlzes the use Of gas, an'
, stoves using crude coal and wood ar
rapidly going out Of use. The ''smok
I | nuisance" Is being rapidly abated, n
, the combustion Of gas IL complete.
| Securities to represent the Nilsson,
|, Gas Company have been prepared II
follows, viz:
, First mortgage 3 per cent.
scm!.annually, January ana
July ............'.. 'Ti,oW,VO
, Fifteen thousand shares OF
stock, 500 per share, par
value .............. l,oUO,Gu
) About $l.OOO,OOO Of bonds have bee
; sold ana the proceeds used In full I
the construction of the plant. \
! bonds not so used will remain In I'll
treasury of the company until sue
!. time rs they are needed In the enlarge
ment Of the plant ana the extension q
the mains. Kansas City Is now tn
! second railroad center In the Unite
States. and Is n rapidly growing cit!
: The gas works will increase in slz
!. with the city, and aid In Its develOi
! mcnt.
The building of this ane plant was
''rec0rd breaker" 1t was supposed I
bc a two years job, but the works wer
completed ana gas was turned on tn
city In less than nine months from tn
day that ground was broken.
The rapid growth of the business @,
ceeds all estimates that had bee
made, In advance of the opening of tn
plant.
2 A fair division Of the stock of nes
. company into three parts, divlsibl
among the capitalists, promoters, col