New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-04
GAS DOWN TO FIFTY CENTS
NEW-AMSTERDAM GOES OTHER CON-
PANIES ONE BETTER.
DIRECTORS OF THE STANDARD DECIDE
NOT TO Go LOWER THAN s5 CENTS
THE FIGHT. IT IS SAID. WILL
NOT LAST LONG.

NOT TO Go LOWER THAN s5 CENTS
THE FIGHT. 1T IS SAID, WILL
NOT LAST LONG.
The Board OF Directors of the New -Amster-
dam Gas Company yesterday decided to reduce
the price of gas furnished by their company to
80 cents for 400 cubic feet a. rate IL cents lower
than that announced Monday by the Con-
solidated Gas Company and the NewYork Mu-
tual Gas Light Company. The directors Of the
Standard Gas Light Company met later in the
day, but took no action.
All the directors Of the New-Amsterdam COM
pany attended the meeting of their Board
which lasted an hour. After the adjournment
President James ,Jourdan said that the vote to
cut the rate to 30 cents a thousand had been
unanimous General Jourdan was asked If any
overtures looking toward a combination of the
gas interests had been proposed.
"Emphatically. no." he replied.
will you invade the territory of the other
companes?"
We'll, we are progressive"
DO you think the price of gas Will be lower?'
I'VE have not considered that"
General Jourdan declined to discuss the cost
OF manufacturing gas. nor would he say any
thing in regard to the loss entailed on the COM
pany by the reduction in price.
Frank 8. Hastings one Of the New-Amster-
dams directors. quoted as saying: I'VE
have fixed the price Of our gas at 80 cents
to take effect May /. so that the order is thus
retroactive to the extent of three days We
took this action because it seemed to that
mere meeting of the attack by the other people
was not enough; we would do better to take an
aggressive stand.
when the directors had heard the situation
as stated by the president, there general
agreement to retaliate l. myself, moved for the
cut to 80 cents. 1 have had experience
In gas fights before this and think it is best
nearly always not merely to act on the defensive
and make the same rates that the others offer.
but to strike right out and make fight a COM
pany taking that stand will not lose by It,"
STANDARD TAKES NO FURTHER ACTION.
The Standard Gas Light Company. Of which
Russell Sage is president. is not selling gas just
yet for 80 cents thousand feet. At least, at
the meeting of the Board of Directors of the
company, at which he presided yesterday after
noon the example of the New-Amsterdam com
pany in making the price 80 cents was not fol-
lowed. The directors discussed the matter for
fully an hour Several of them went away be-
fore the meeting closed, and this gave rise TO
the report that the directors could not agree to
such q sweeping reduction as had been made by
the New-Amsterdam company. w. Greeley
Hoyt, secretary of the company. announced at
the adjournment of the meeting that the direc-
tors had fully discussed the subject and had
authorized him to say that there nothing
to be given out for publication at this time
Mr.. Sage was rather more communicative. He
tentatively admitted that no further reduction
had been made since Tuesday. when the city
supovfntendents were instructed to grant Gus
toners of the company the same rate as that
made by the Mutual and Consolidated COM
panies.
Have you made 5O-cent rate for gas?' Mr..
Sage was asked.
mo, no; there is no 50-cent gas"
But the rate of 65 cents which you author
lied yesterday stands?'
Eyes, that stands
"Do your think your directors will follow the
example of the New-Amsterdam company?'
We'll that is for the directors to say. We
will have another meeting next Friday"
President II. f. Gawtry. Of the Consolidated
Gas Company, was not at his office yesterday
afternoon, but Secretary ZollikofTer when in
formed Of the action Of the New-Amsterdam
company. said that his company was prepared
to meet every action of the other companies
TO AWAIT DEVELOPMENTS.
One of the leading directors Of the Consoll-
dated Gas Company said yesterday: "The ac-
ton Of the New-Amsterdam directors is an in
no hurry TO act any further upon the matter.
1t is a question whether it may not be best
to let the NewAmsterdam Gas Company get
the business at so cents. There is not likely
to be any meeting of the Consolidated Board In
regard to the matter at present We will await
developments"
cit Is said that Anthony n. Brady will assume
personal direction Of the New-Amsterdam forces
in the contest Well-informed persons believe
that the gas fight may not last more than thirty
days. The 65-cent rate made by the Conson-
dated company applies to all consumers, large
or small public or private
The belief in Wall Street that the rate-cutting
is aimed directly and solely at the Standard
GasliCht Company lost none Of It's strength
yesterday. and It was said that the action or the
New-Amsterdam company in cutting far under
the Consolidated company's new rate tended 10
tcar out the theory that the two were acting
in common against the Standard, since the New
Amsterdam company Is much smaller than tne
Consolidated company, its loss through rate
cutting being correspondingly less. ana IL was
also direct compe titor OF the standard com-
pany In several parts OF this borough
Consolidated Gas opened yesterday on tne
Stock Exchange at 17Sh. and before noon mad
advanced to 1917. The news of the cut made
by the New-A Amsterdam company caused II 10
sell down to 175A but II afterward rallied, CLOS
ing at 176% a net loss for the day OF Ia
points.