New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-03
TO MEET THE CUT IN GAS.
THE STANDARD READY TO COME DOWN
TO 65 CENTS. .f
MEETINGS OF ITS AND THE NEw-AMsTERt
DAMS DIRECTORS TO BE HELD TO-DAY
RUSSELL sAGE'S VIEWS ON THE
sUBJECT-HOw THE CITY
FARES BY THE WAR


sUBJEcT-How THE CITY
FARES BY THE WAR.
The Board Of Directors OF the New -Amsters
dam Gas Company will meet this morning in the
office downtown OF one OF the number. to decide
upon the course to be pursued by them In meet
ing the cut made on Monday by the Consolidated
Gas Company and the New-York Mutual Gas
Light Company. both Of which have reduced the
price Of gas furnished by them from 81 10 10
65 cents thousand cubic feet and the directors
of the Standard Gas Light Company will hold
a meeting this afternoon at the offices OF the
company. No. 81 Nassau-st.. for the purpose OF
taking action on the same matter. There Is no
reason to doubt that both companies will meet
the cut 1t generally expected that the
Standard directors would announce yesterday
some counter proposition TO that Of their rivals.
They postponed action. however. until to-day.
In the Of the day some OF the direct
of the company conferred together Ia
the office Of W. Greeley Hoyt, the secretary and
treasurer of the company, at No. 81 Nassau-st-
After this conference Mr.. Hoyt, in an inter-
view, said:
I'VE have instructed the superintendents OK
our uptown offices to inform all customers who
call for information that We will supply them
with gas at 65 cents thousand"
but will the customers who do not call for
information as to prices be charged at the old
rate?" he asked
I'VE have not had time to consider every
phase of the matter as yet" answered Mr.. Hoyt.
I'VE have simply instructed our superintendents
to inform customers who may complain that We
are ready to meet the other companies on their
new rate No, do not know whether our COM
pany will offer a lower rate than that fixed BY
the Consolidated and Mutual companies Until
after to-morrow's meeting I cannot say what
will be done but whatever is decided upon will
be announced at the close of the meeting. In
the mean time, are prepared to protect our
customers and intend to do so in all cases. Wei
didn't start this fight, but I suppose the people
who did know what is best for their interests
We know a war isn't best for our interests, and
we do not think II is best for theirs; but with
the fight on we are prepared to look after our
own people and see that they get gas from US az
cheaply as they can get It anywhere"
RUSSELL sAGE's VIEWS.
Russell Sage, president Of the Standard Gas
Light Company. when seen at his office, No. 81
Nassau-st yesterday was cautious In answering
inquiries as to the probable steps that would
be taken at to-days meeting Of his directors
He made II clear, however, that he did not ins
tend that his company should lose business be-
cause OF the decreased rate made by the two
competing companies. and that he was willing
10 enter into the fight with as much energy as
was necessary.
I'VE will protect our interests, OF course" he
said I'VE will not rest quietly and see any Of
our customers taken away because they can get
their gas cheaper elsewhere. We do not want
a. war but we do not intend that our business
shall suffer by any cut in rates made by other
companies We do not propose that single
customer shall leave on the ground that ne
can get gas cheaper from other companies we
have a general idea of what We will do but the
price we propose fixing will not be definitely
decided upon until to-morrow's meeting. Tho
whole matter will then be fully considered, ana
a public announcement made Of our intentions.
The Standard company however will not be
drawn into this fight further than Is necessary
for our protection. The cut which was made
by the Consolidated and Mutual companies came
as a surprise to me.
"As have been very busy with other matters
I have not had time to consider fully the gas
situation as yet. We have been supplying gas
at the legal rate, and had no wish for more.
Two years ago the gas companies or this city
made an equitable agreement as to territory,
and by that agreement each company got itsi
share of business. These companies which are
cutting rates did not stand by that agreement
It is said. 1 believe. that agreement expired
last June, but we have gone on doing pusiness
fairly and legitimately."
In Wall Street it said yesterday that J.
piernont Morgan. at the time he became inter.
ested in the Consolidated company, offered Mr.
Sage 4 round price for his Standard holdings.
kalo affa0 r.
Sage is himself the authority for the statement
that William Rockefeller, Of the Consolidated
company. had been trying to buy his Standard
stock hut that he (Mr. Sage) refused to sell.
FIGHT FOR PRESERVATION.
Charles NJ. e. Thomas, general superintendene
OF the Harlem division OF the Standard Gas
Light Company, said yesterday: We VIII do
lust whatever the other companies do. 1t is
fight for the preservation Of the company"
when asked II the question of municipal owner
sh,n of gas had anything TO do with the fight
and reduction. Mr. Thomas answered: Moth
ing II ,s a case OF self-preservation."
'If the Consolidated Company should come
down N 10 cents a thousand, would your COM
pany do so, too?"
"Yes: It will meet anything the other come
pany does"
nrominent officer Of the Consolidated Gas
Company yesterday afternoon denied that q
combination had been effected between his COM
pany and the Mutual Gas Light Company. He
added. however. that the utmost harmony ex-
isted between the officers Of the two companies
and he intlmated that neither OF the companies
would do anything detrimental TO the interests
Of the other.
Oscar F. Zollikoffer, secretary OF the cohson-
dated when asked yesterday what further ac-
.,or the Consolidated would take In case the
standard should reduce its rate also to 60 cents.
answered:
I'VE will continue TO protect our business.
what we have done was done FOR that end. ana
tnat end only Those people tried to make m
roads into our business and we simply had 70
take this action to protect It, / Will not say
what we mean 10 accomplish in any other words