New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-19
GAS PRICE TO GO UP.
PRESIDENT OF CONSOLIDATED AU-
THORIZED TO MAKE IT S1O5.
EXPECTED TO TAKE ACTION TO-DAY
OTHER COMPANIES LIKELY TO
FOLLOW SUIT

Since the fact became known last month that
the end of the gas had been reached
through the Consolidated Gas Company obtain
ing control of its only rivals. the New-Amster-
dam Gas Company and the Standard Gas Light
Company there has been much speculation as
to the time when the price of the product would
be advanced and to the figure at which the
rate would be fixed The surmises were yester-
day reduced TO certainty, at least so far as
the Consolidated is concern I'd a prominent di-
rector announcing that President Gawtry had
been authorized to restore the price of gas to the
legal rate, 81 05 a thousand cubic feet and
that he would probably take such action to-day
1t is understood that the New-Amsterdam and
the Standard will also raise their prices to the
same rate, although perhaps not until July l.
The public has been buying gas so long at "cut
rates" that it is not expected by the companies
that the proposed advance can be effected with
out more or less opposition. and they think it
not unlikely that there may even be litigation
the matter
The gas war began on May /, 1899 when the
Consolidated Gas Company and the New-York
Mutual Gas Light Company which is closely
affiliated with it, announced a cut from 81 10
thousand cubic feet, the legal rate for 1899 to
20 cents The Standard met the reduction a
day or two later, and the New-Amsterdam cut
its price to 30 cents. The several companies
with no change in prices, however, until late in
November, when the NeW-Amsterdam suddenly
restored its rate to the legal limit, 81 10, take
effect on December l. 1t maintained the ad-
vance for only about two months, however and
then cut the rate to 20 cents, uniform with the
rates of the Consolidated and the Standard
Early in the winter the beginning of the end
of the long and determined contest came, when
it was learned that Russell Sage, the president
OF the Standard Gas Light Company, had sold
his stock holdings in that corporation to a
trustee OF the Consolidated, and that the large
holdings of the Wallace c. Andrews estate had
also been disposed of, the purchaser being un-
derstood TO represent the same interests.
A protective committee of Standard company
stockholders was then formed, under a pooling
agreement in accordance with which the own
ers of about forty eight thousand of the ninety
three thousand outstanding shares of Standard
stock deposited their holdings with the Mercan-
tile Trust Company, the agreement providing
that in case of sale being effected all the par
ticpating shareholders should receive the same
all the Standard stock deposited under that
agreement sold to the Consolidated, and an
agreement was also made under which the Con-
Solidated has been enabled to secure nearly the
whole of the stock of the New-Amsterdam COM
pany.
Thus there is now virtually only one gas COM
pany operating in this borough, and that com
pany now announces its intention to take ad-
vantage of its legal right charge henceforth
81 Co for its product. the rate fixed by law for
the year 1900
An effort made last night TO see Frank
Tilford, president of the Standard Gas Com
pany- 1t was learned at his home No. 245 West
Seventy-second-st, however, that he in
for the last week because of the illness of his
wife.