The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-01-04
Imported from Paris, 50 cents per bottle.
Sent on receipt of price,
DR.. ALEX

Of $4,000. although gas was sold there
Tor $40 per Thousand feet. On the
terms of consolidation the Montclalr com
pany levied s35. 900 on the Consolidation
Gas Company as the five per eel i'm
terest to be paid yearly on the bonds
sor | r. ne n Eonsoilaated Company gays
the reduced income derived from Mont
CLARA diminution from $210 to SLIGO per
t~housand-the Montclair consumers are
more than the Newark users of gas.
In Summit the figures indicate the same
thing. 1t is an open secret that the SUM
nit Gas Company never paid a dividend,
and yet it was put into the consolidation
and received bonds for which the Console
dated Gas Company must pay an annual
interest at five per cent. OF Sic, 900. The
gas rate in Summit before the big deal
was 81 a thousand, and the yearly con-
sumption there was but 10,o00, 600 feet. At
the reduction of twenty-five cents per
thousand the annual loss sustained by
the Consolidated Company from Summit
alone will be $500.
The question arises-How is the Con-
solicited Gas Company going to keep up
and maintain itself in the face of such
heavy losses, and the answer is that the
make up the deficit by paying $i20 per
thousand cubic feet for their gas. It is
admitted by a man who was one of the
chief stockholders of the Newark Gas
Company hat the company would have
made an immense profit at the rate of 81
a ,thousand-but of course this mar would
never tdY6 SdtQ So QillCSS 1l6 was OQl u L
gas altogether at present.
Looking at the receipts and expenses
of the Consolidated Gas Company in
Montclair and Summit from a slightly
different standpoint it becomes even more
apparent to what an extent the people of
Newark have to pay for the ga of the
two towns.
The gas consumption in Montclair last
year was 10000, 600 feet, and the reduc-
ton in price there means a reduction in
the income from Montclair of $4,000 a
year to the Consolidated Company, which
also must pay the $4,000 annual interest
on its bonds to the Montclair Gas and
Water Company. To offset this the COM
PAM receives $1,000 as an annual dividend
and saves the salaries of the men for
merly employed to distribute the Newark
Gas Company's product. And unless these
salaries amounted to $46, COO, the Consol-
dated Company is losing money fast in
Montclair. One-ffth of that sum is a
liberal estimate of the money spent in
salaries.
BY the Summit consolidation the com
pany, by the amount of the bonds it
CAV to the Summit Gas1ight Company.
assumed a yearly obligation of $15, 900, the
interest at five per cent. on the bonds.
Moreover, the loss from the reduction in
price at that place from 81 to SITS causes
q loss of 81, 500 annually there, as the
consumption of gas amounted to 10. 600, 600
feet yearly. Against this loss may be
placed the amount saved By not having
to pay the salaries of men employed in
the distribution of gas and a yearly in
come which even before the reduction in
price at Summit was never large enough
to pay the Summit Company a dividend
The Newark Gas Company last summer
was offered both the Summit and Mont
CLAIR companies for $500, 600 and refused to
buy them out, almost at the same time
when Mr.. jackson bought them at about
that price for the syndicate. and sold
them a few months later to the Console
dated Gas Company for about So, 900, 900.