The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-24
PRICE OF GAS Sl.10 AGAIN.
NEW AMSTERDAM COMPANY BEGINS
IT-OTHERS VIII FOLLOW.
Consolidated, 1t Is surmised. VIII Absorb
the Company with the Tunnel and buy
Out Russell SaEc's stock at u Price
Attractive to Him He Hasn't Sold Yet

| the Company with the Tunnel and Buy
out Russell snEe's stock Mt n Price
Attractive to Him-He Hasn't sold Yet.
Tho gas war that began in May, when tho
| Consolidated and Mutual companies dropped
| the price from S11O thousand fcct to ~
1 cents, the Now Amsterdam cut the rate to 80
| cents and Russell Sagc's Standard company
met the % cent rate. Is apparently coming to
| an end Tho New Amsterdam company nm
| nounced yesterday that It will raise its prico
on Dec. to the legal rate. which Is 81 10 for
the rest OF this year and 81 % for next year.
AZ soon us tho announcement became cur
rent. inquiries made Of the men In control OF
the other companies made It practically certain
that thcv will all follow suit
Whether this means that the Consolidated
has succeeded In rart or in whole in forcing
consolidation Of the whole gas interests OF
these two boroughs or not Is still uncertain.
but It is known that for several days past tho
men representing the management OF the Con-
soliiated. Mutual and New Amsterdam
companies have been holding conferences. and
It was asserted yesterday In Wall street TINT
the New Amsterdam comranv was 10 be alb
sorbed by the big consolidated interests on u
basis u 10 for the preferred stoc. AMI
30 for the common and that tho Standard
will sell out TO the same buyers at Russell
Sage'S own price.
Representative men connected with the
Consolidated and New Amsterdam com panies
Rll deuicd yesterday that there wns any
agreement or understanding between the two
companies that had led To the restorat on OF
fnte, " thc New Amstrrdnm Comrany. >Mr.
Frank =, Hastings. Wee President OF the New
Amsterdam tomrany, said
At the meeting OF our directors to-day the
resolution to ra ~ the price was nlnp'c solely
because our works are fairy swRmped with
orders because oi the great demand due TO the
present ow prices
aslikcy 10 do he said: We are anxious 10
know"
frssidru, Harrison L. Cavity Of tho Con;
Bier S?P F. Holm liens Sam ' s"a" and oiheT. ali
COMPANY was surprise TO Thorn, ami that
they had onlv Ius' heard OF IT, The Board Of
dlViicnh, aud the matter I the price o of gas
viii undoubtedly BE- taken upnso.
The executive committee Of the Standard
got 10 BLOW W.T. the STs said Mr john S +
Terry. on" o. tn" directors when asked ycs-
Mr. Sage said that m" Cons ,datrl and N"w
Amsterdam companies had agreed to raise III"
ra,Is' MS coWtSmy r, wa not iny,tet :" the
pany would advance it, price. but the compa-
mics might lnI it hard TO maintain the new
rates after tn" long continuance OF the low
" The legislature has 70 be considered" he
said. \ committee might be- sent down here
t. inves iga'" and make a report recommend
ing a lowering OF the price"
II" said ~ had not sold his stocE hut that
parties had been negotiating for II during n"
las: few days and had offered certified chccx
To hind their bargain. hut he had refused TO Go
tied up unit h. knew more about whom they
N" .ar!t,I stock q the. nsoIIda,ed is So.
%S f i6a n,a asf Nv s A%'lGri nSG she x:
STANDARD t!o,uooun. The Mutual Is CON.
Ssh 3, VanassS 9 n s., aud held az
and his friends. There nrc many rich men ~
saS New fn s;orSs+ ooG;'mnsHy ncl"ang
largely Interested In the conso dated.
:, hen ths war was beGnp Mr. Anthony y.
sb 5 Y" ;bt too" 9nig 81 "a sn, SS
s2in at that tine that It Wa Tho purpose
which III" Con.oIi dated wanted to .eu:.
hhle It TO get a tgnnei across Tn" Eat
with tunnel 4 could transfer It's producing
rlap: !" cheap lnnts across the river. TIL" at.
Tho standard Company to fore" Mr. sage and
onsiIHrae.y below ma, which they demanded.
r T; sa sapq nr Nay to eli
Large consumers were getting rebates 10 an
ftH St as ,HGi fE hat sT'a'q' ,hSa sMRd
months a, ~ cents w%aili b" obout $2.i50.OOO.
while on th" sane basis the Mutual. on bust
il'"N VI l'',.'''''b'''y' 'ub!t Nbl u IdN'
been more than 81 300: that u the STANDARD.
on a business OF l.lOOOnO. OOu cubic feet about
S22+ 300. and ~ the New Amsterdam. on "a
business of 800 O.OOOOOO cubic feet. $4,000.
No doubt the consumption of gas was largely
Increased by it, ch"Hpucss. so that ths figures
Of OUtgut are too small.
According to the last balance sheet Of tho
Consolidated. published IN January. II went
in'o the fight well repared to stay. aS y had
oil hand In cash at that time S2.'ili..i2i 81 and
treasury stock amounting 10 l3.i7H 80 shares
which II sold previous 70 May | ipr.Sl.D n
share. making "A total on hRud Of SS.lSU.5lu
A. that time IL was Iaytng 4 PER cent. divi-
dends. IL reduced this rate t. ~ per
cent, paying IL Per cent. for the three
mouths ending June l. aud for the
next three months the rate was dropped
to I per cent. STANDARD also lowered its div!-
d"nd rates during the fight paying hut per
cent quarter on its common stock after July
], instead Oi Ia per cent The preferred con.
tinued to pay y, New Amsterdam has never
companies will probably be- OF special interest.
und IL seems ik"ly that the approach Of the
time for making such reports may have had
a material rffCct In bringing the war to clos"
IN" effect OF he war upon the price Of the
stocks was much loss than might have been
expected Consolidated dropped from 1870 to
III at b" beginning hut recovered TO lsO before
the end Of MAY and opcncd Yesterday at l9Ii.
Tn" news Of the ending of the war caused 1t 10
jump to 1879. and II closed at 1871, bid New
Amsterdam which Ii sold on the curb onv
opened yesterday nj 80 and Iumped To ~
closing AT 81 q bid. Standard * seldom dealt
In, he'ug held securely by Mr.. sage and his
friends. but il held NJ about ~ for ~" common