New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-13
VETO NOT UNEXPECTED,
Belief That East RiJer Tunnel
duplication ForeStallS 1t.

As the Remsen gas bill has been vetoed. owing
To- p mistaken idea and political exigencies," ac-
cordIng TO a representative of the Consolidated
Gas Company. that concern Will be at the mercy
OF any taxpayer who chooses TO bring action 10
harass the company in the continuance OF It's I'M
provements." Whether any further action will be
taken by the company toward Temedying the de
feet it's title will depend on the advice Of its
lawyers.
THE bill was vetoed because of great popular
yawping and political measure said rep
resontative OF the company yesterday. 1.-The Health
Department wanted this bill for the towns benehti
the company wanted IL, because IT would enable
IL 70 remove its plants in this city 10 Long ISL
and and by tunnel connections with his city have
a better system OF gas distribution. Mr.. Carter
and Mr.. Peckham said the bill was constitutional,
legal and had no mysterious provisions concealed in
it, but II killed.
Il don't know what effect this veto Will have on
the continuance OF work on the big Astoria plant
II it were mine / don't think Ia sink a lot of
money in it when the work is subject 10 tho att
tacks OF any cranky citizen who wants to tell the
court that the opening of a street for mains where
there's nothing goats and tomato cans will DO
a great dctriment 10 property values
John A. Carver who appeared before the Cover
nor and the Mayor in defence or the bill said that
the Governors action was not unexpected. II was
above criticism. Mr.. Carver said. lie thought that
ready contracted for but would hardly 20 on with
those planned. for which the contracts had not
1t is now believed that the Consolidated Company.
ends aimed at by the Remsen measure through
application to the Supreme Court by the East
River company, which reported week ago.
This application was for permission to condemn
right Of way for a tunnel under the East
River, connecting the plant buiuiug at As
toria with Observation-Disclosures Manhattan.
The charter Of 1892 gives the company the right
of eminent domain and If this petition Is granted
commissioners will be appointed ut once to assess
the value Of the State land involved II has been
assumed that the company had right to the land
under water by the act of the legislature. but Ed
ward b Whitney declared this act unconstitutional
in his arguments before the Mayor and the Cow
eTnor on the ground that it not passed by a
two-thirds vote 1t is said that the present appll
cation made because the company did not
wish to leave any doubt where so much capital was
involved
Consolidated Gas advanced yesterday after the
announcement of Governor Odells veto The stock
which closed on Wednesday at 2o4 sold up n little
at the opening but dropped from 200 TO 26Sl2 when
tho news or the veto was received The decline
was only momentary. however. and during the rest
of the day the stock advanced point by point until
it. reached 90, gain of six and half points. 1t
closed at 207ia.
The story in the Street was that politicians who
had expected a veto and had sold the stock short
were squeezed IN the upward movement. II was
said after the close of the market that there was
Sun large short interest. which may be squeezed
to-day.