New-York tribune., 1905-04-09
SUBPOENA FOR MURPHY.
MAYOR SUMMONED ALSO.
City Officials Mast Testify at Light
ing Inquiry.

eubponas in the legislative gas investigation for
this week The Tribune learns. have been served
on Charles =. Murphy. the leader Of Tammany
Hall; Mayor Mcclellan. Controller Grout and John
7. Oakley. Commissioner Of the Department Of
Water Supply. Gas and Electricity. other city
officials have likewise been suhpRnaed II is also
learned that this week. when Brooklyn ana the
city contracts are 10 he looked into will close the
inquiry.
Murphy will be asked. among other things. as to
HE connection with the New-York Contracting
Company. his brothers concern which has oh
talked contracts aggregeting millions Of dollars
from the gas combination. II viii he recalled that
Controller Grouts recent little private lighting
ouiry proved 10 be a fash u the pan.
At yesterdays session at the City Hail II. Creely
Hoyt, secretary OF the Standard Gas Light Com
psny. testified that $500 ss9 of the copanys assets
had real existence. Mr.. Hoyt also testified that
while SS.7s5,Oo7 is entered on the compsny's books
for leases and contracts. the company has no
leases.
Charles F. Hughes counsel 10 the investigation
ocmmittee expressed himself as much pleased with
The result OF the six days sessions. He said:
We have much valuable Information and what
ws have the record is fact The testimony of
the financial officers of the lighting companies is
much more important that the theories Of experts.
There is still a great deal 10 do. We have not
touched on Brooklyn yet and there are the city
closes the record viii show everything there IS to
show about lighting conditions in New-York City.
Assistant Treasurer Whiteley. Of the ConsoH-
yesterday. He was asked as TO the cost of making
as shown in statements prepared by officials Of
the Standard company. He gave the total business
Of the company for ls04 as S9247,7s4 g.
Ny Hoyt testified that the item Of leases and
contracts" which up to certain time had been
carried the books at s5.o00000 reduced TO
sS7a5,co7 g. Mr. Hughes asked what leases or con-
tracts were held by the company under the old
item ~ leases and contracts" Mr.. Hoyt said
none.
What did vou do with the rroceeds Of the sale
OF stock7' asked AIr Hughes
The floating debt was paid of and an extra
dividend was declared. making the total dividend
per cent" said AIr Hoyt.
Mr.. Hughes wished 10 know as TO the value of
stock by the Standard in 1895 1886 and 1897. when
T5o0 shares offered for sale in three options
The resolution under which they sold gave
the directors the privilege Of all the shares which
were not subscribed for 10y the stockholders All
but 525 shares were taken by the stockholders. OF
the balance Russell Sage obtained 100 shares at
SO less one-eigfth commission total of s72S7.
The book value OF the real estate Of the Standard
was shown in the balance account as sl.S42142 50.
The value as given by the tax assessors of the
city last year Sl,570O10 The net assets Of the
company Mr.. Hoyt worked 10 show S12.663 s95.
representing the companys stocks and bonds.
OF those assets. Mr., Hoyt said in reply to ques-
uons Of counsel s6029 69 ~ has real existence.
They consist OF IS 2l7S25 % in leases and contracts
not now enforced and the difference between the
construction account value Of street mains. etc.
and the amount it would cost to replace them
to-day. In 1905 the company earned S2O79,2 81
Now the production Of gas. with operating ex-
penses. is 81 3l53ss 30 a dividend of per cent was
paid and about $4,000 was added to the reserve
The consolidatssd Gas COMPANY owns the stock
The Consolidated owns 500 shares answered
the witness.
Did YOU not hear the testimony that the Con-
solidaIed practically all the stock Of the
standard-39345 Of the preferred and 5000 Of the
Yes and Il was news TO me- said Nj Hoyt
the meaning Of the term 'kilowatts' and other
matters. senator 6IaIy in5errGptGd TO eHPlair
peared 10 feel relieved that al last somebody WAS
frank enough 10 admit that the subiect was be
lond general comprehension The Senator said:
burn only ten. or even five of them ana that in
frequently. Am I charged on The basis Of five
You are charged on the basis Of the whole in
stallauon was the reply OF Arthur Williams,
general Inspector Of The New-York Edison Com
pany -
9 yia sPs 5 ed 6o % shared fa a %h9e
a.. on have 70 pay on ne basis basis Of The installa-
nav for the twenty lamps
Well ind have been economizing AZ the ex-
pense 0f mv comfort and the profit o the
company observed the Senator dejectedlv. he
leaned back in his chair.
Adjournment was declared by Chairman Stevens
- about 2-l5 o'clock. tho committee having sat
IN continuous session since 1870 a. m. The date
~ The next session was announced as 10 O'Clock
io-morrow morning Mr. Stevens said later that
the committee would 20 20 Albany tomorrow even
ing. and would not hold session Tuesday in
lie said the reason FOR this change in the pan
was that the committee could not ind the proper
meeting place while the Board Of Aldermen was
Mr Hughes was asked after the session a bout
The company that was alleged 10 have made an
oer Of an electric plant 70 the city in return for
7 have been informed that two such offers were
made. but I have not the data hand. I will look
into that matter next week more carefully. as
the acceptance Of such a contract Wen know all
shout IL in few days