New-York tribune., 1903-03-14

sThePS minority 50 300 YoAksrs stock
and SS5OoOO Consolidated Subway stock outstanding
This enormous valuation is based upon the profit
per permitted 1 by the present monopoly system: Mod
Of the work Of prcdGcfns power CWhich Incidental
NJ meb d m @ o2sa an the @ M %
50 rapidly decreased the expense that while the
delivered is Known 70 have been over five
In 1900 and about four and half cents in 1901 there
reduced to about three cents. I do not md how
ton in prices. The bills presented to the depart
ment for lighting public buildings for January,
at the rate of 10 15-1oO cents a kilowatt hour,
There can be no question but that the capitaIiza
times the value Of its plant If the The city Of New
light its interest charges would be limited 10 the
amount actually expended on its plant and it would
dividends on watered stock In the Borough -
RED through the existing subTsyz without ineG--
6eaEna9 E sss by r of r5d for % R
between two subway companies, but each OF them
m is % m by c its Of H a tRSGe n M
way necessary for It's electrical conductors and
ment Of said city which may now or hereafter be
I am informed by officers of the Edison Company
that the subway rentals for electrical conductors
S6n o are nG" II the c{tv had an eeotric light
plant plant the cost of distribution would be reduced
The city, Of New-Tork would have, therefore,
three definite advantages over such q company
the New-York Edison Company in supplying cleo
trfcity for public
By Tsf' on
Is distinguished from the fixed charges which bur
den inflated capitalize ton.
(h) The free use Of subway rights which the
CITY has had for years and from which ii has until
benefited only to a small degree.
s,lItinS from the adoption of all recent improve
ments and having in view single purpose
public Neutrality-suspicious. the complication incident
to furnishing a general commercial supply.
On December "a, 1887. Chicago placed in operation
its first municipal lighting station. and on the 2ith
OF December last completed its fifteenth year Of
municipal ownership and operation of an electric
lighting system For the year 1902 the total cost
per lamp Of 1000 candle power per year Is stated
nv IL to be $53 81. The city of Chicago also pub
fishes a report showing all that has been expended
for construction and operation of its electric light
plant from 1887 to 1902 1t has cost that city during
sixteen years s. 40G The total amount rented
lights would have cost Chicago FOR the
corresponding period Is S3,535s75 go 1 do not know
that Chicago gives the most successful example
involve ntrica te questions of bookkeeping 1t does
show that Chicago has earned the cost of It's elec-
trio plant which includes the cost of considerable
sllbn ay construction. The plant at present pro-
yides 1910 arc lamps of 1000 candle power.
Detroit also has a municipal plant. In report
Iamp for Detroit is given at $S3 50. That sum IN
cluCes operating disbursements. interest of per
cent on investment. depreciation of per cent and
loss of taxes that is to the taxes that would
n prIvate company. This compares very favorably
with $l46 that we asked to pay.
H. E. Gawtry, president of the Consolidated
Gas Company, declined last evening to talk
about Commissioner Monroe's report. saying he
did not care to get into the controversy.