The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-25
rpE GAS WAR STILL ON.
.ovsoIrDATED, MUTUAL AND STAMP
nm REFUSE TO RAISE THE RATE.

fp-y..,.nod, for tho Prcsent-New Amster-
lam Company Will Have to Go 1t Alone
yr,,b n 81. 10 Rate-Drop in Gas stocks.
,,,hs regular quarterly y dividend meeting OF
...,,,s,ees OF the Consolidated Gas Company
".,.,dsv II was decided that the company
I'D take no notice OF the action OF the New
,ns,eriam Gas Company in announcing that
~ou,d restore the price OF gas to Sl.1O a
,,.,s,nd feet on Dec. l. This means that tho
r"n.oldatod Company will continue for the
.Vu, ut least, 10 sell gas for 65 cents a
thousand.
m. Mutual Gas COMPANY. It was announced
"a, IN the day. will also continue to furnish
AZ rs cents n thousand. Tho Executive
sc..mi,tee OF the directors OF the Standard
~. light Company held n meeting and II was
$50 anerward BY President Russell Sage
49,, that company had made no change IN the
,,l,c O, gas which is the same as that OF the
r,c,olidated and the Mutual
=, had been Anticipated In Wall Street that
", sace's company would follow suit in what
.ror the Consolidated Gas Company decided to
All, the matter Of prices. The meeting OF tho
,,,.tses OF the Consolidated Company lasted
.hou, twenty-five minutes. Those present in
.luied President Harrison +. Gawtry,
samuel Soan. John p. Higgins. NJ
T,rlor Pyne. George F. Baker. James
Iou,rtprly dividend o; l per cent. was de-
.l,red. which represented no change from the
A,,dend rate tablished a few months ago
.,rssult Of the war between the gas COM
,,ni.s. After tho meeting adjourned the fol-
ioxlnp statement, which was prepared by
PRESIDENT Cavity. AMI which had bcen read
lathe trustees. was given out:
"ror long time the price OF gas
x,s cut below the legal rate and
,cr the specific and avowed purpose Of
sst,inc away the business OF tho Console
dated Gas Company. The course pursued was
no, legitimate business and led TO bankruptcy.
,udunder such conGt lions the Consolidate was
,rspared to meet the emergency. The action
ntbe New Amsterdam Company was accom-
,,nied by a statement that its, business had
reached the limit OF its capacity. This
va. the inevitable result OF selling
"a. AZ prices below the other COM
psniss and reow the cost Of production. Ii
would be glad now 70 keep the business at the
old rates and now has put M the price. No
notice will be taken OF that action by this COM
any"
Directors OF tho Conso idated Company. who
were seen after the meeting. said that Presi-
dent Gawtry's statement fully covered the
situation. One director said that the action
taken by the New Amsterdam Company he'd
been very weak move.
"Ieuess they will try to get 81 10 from the
general run OF customers" he said. but |
wouldn't be surprised II contracts could be
made with them to-day al 40 cents a thou
sand"
Another director said The Consolidated
Gas Company will charge higher price FOR
gas as soon as I. can get II. We are not going
to take for granted statements published In
the newspapers that the price has been adj
vancsd by another conf any. Our President
Mr. Gaytry, wants to feel SURE that We won't
be undersod before no advises an advance"
President r. NJ. Gall way or the Mutual Ca'
Company said We won't take any notice Of
the New Amsterdam Company's announce
ne We are going right along selling gas a.
e. cents"
Tie meeting Of the STANDARD GSs Lish.
Comrany's Executive Committee vas held in
the Office Of the company adIoin resident
Russell Saae's Office in the Bars rmmerc-
build ng IL lasted only atov' ter minutes
AterWari H. was announced thai no ar'i
bat cen AIKEN re- alive 10 the price OF ga.
President Sage said:
Ne tooS, 10 action whatever ~ tho l.otr,e
iss the price Of gas We rseariei the sG notice
ma defiance q, and "a an inacation thN, the New
gas companies would he compelled to follow
VI. Sage added that his company did not
propose to lose customers by raising the rrce
;ro4 doing SO. He also ' said tia" there here
iM as s'1 offers eH mafs to him S to- dia,
d his stock in the STANDARD Ga1I,gh Company
there was no oYer to him actually under con- ,t,i
sideration now. 4 check had heen offered To
him he said. 10 bind the proposed contract.
Almost colncdent with the dissemination OF
tss news .t ,hr,oIshogt the rapcia district Of
Company In rot ordering An advance in the
price OF gas. It was reported that the officers Of
a,., and were making ong-tims contract
q that price: It was also announced 10
ests 10 the New Amsterdam Gas Company had
met after the Console dated meeting and had
This rumor appeared to arise from a allure
o. GIN me company TO repeat ~ yesterdays after
a SSounen: :Wipsp.Tss the adyfrtse%nt
GER. d tie New '1 Ansterdam Ges f Sompsny
sTsrried the report that the action taken, on
Psnt Hastings said:
sSs, q {, to the nd
70 new Meeting Of y the dree, %s''i has
sss: n ana snSS
St.h. trustees o. The Con.oiidaied company.
~ aoes not sound we'll for them 10 talk about
, Rae ss cut tbs
ne: As I9I an advance. We are now disIos-
~ q uouDe the output We had last War
snu don't think the people are likely to
s snsmngs, 70 other gas companies very gem
NJ Hastings characterized any inference that
mcomIany was bankrupt as simply absurd.
. ns sso denied the Wal street report that the
s0'ion Of ms company in raising the rate was
sUck-lobbing TRANSACTION. When asked II
mere was any possibility that the COMPANY
uaH he replied:
There Ia absolutely no intention TO pass the
anefest On our bonds. The com pany has I'm pie
financial support TO take care OF all our nbliRa-
ss ons There Is absolutely no necessity for de-
SsiH ana the interest due In January will be
The stock Of the Consolidated Gas Com pany
~ .,,tne stock Exchange yesterday opened
ssohhe IN the belief that the gas war was
y W,s az a. end. The first sale OF tho stock
S rS az zoos. and the price quickly touched
Understood sSs|,'oo that the CONSOLIDATED Com.
sdSssIs trustees would not make the
e aa'snee exHccted there was decline to 1876 y
.,LHittne closing sale made at 1876. The strength
jnwmni'en hy the stock. even at this figure. was
isinAr1d unon a. conlrmatory OF the general
iL v'a, existing In Wall street that the end OF
VI" sas war is close at hand.
mnnSssetuons were made in some quarter with
MA I"stlveness that before Dec. |, the date
in neu lMr me New Amsterdam advance to 20
ps T enect III" Consoliiated and other COM