New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-21

lions reduce the proposition of immediate
ton OF the railway franchises 70 thao al de-
ferTne identical result in respect OF gome to
Ssi,1Se y very large and well meaning portion OF
the community into the belief that II Is neTshin
~ o,, rity railways but also their municipal oPe d.
ton My message 70 my fellow eNa1relves not be
deceived by the mere utopian by the pSoo5pisiis,n
However great the reasons may be for me
reassumption by the city OF ats ad at Of the present
and with il goes the question OF Hiei 'P
SO Iu bave howe1sr another class Of public gtii
ties exercised by corporations bapniness even
more closely and directly than inc
Of p bIi,,G the system which has recently
f,ean made the subject OF legislative lhNe9'i6 tbe
most lucid most luminous nous snd bef GSe the
reports that has ever oeem i T worthy work
Of Mr. Stevenss committee and OF "S ie@
c9Hps sa tbe Chsrter Revision Commission was at
oT IN 1SoO oSnsetin Of Charles Stewart Smith
George Foster Peabody and J kenne9 al, I0a' Is
sued memorial to the commission as follows sbond
Ths committee believes that the GE aSanre
own its water supply and that II sn0uiG and elec-
trical supplies of the city The experience I'd
proves that such ownership has tended 10 'ie pun
&c welfare"
GAS PROBLEM PRACTICAL.
Now their platform is my p tso out 5f' Of a the
realm of generality and reduce it to prac jt only
The ownership here referred 10 I9of f6a Iightng
nSarts in precisely the same way in which the Giey
ewas ana and operates its water supply sys-
terrs which is greater necessity, e. ort;fcis1
s;tis,s Of raodern life than the system OF
2.oS Here the question of operation is quite
dstpSt from the ana ra ES5y o All over world
-tcfnslities are actually operating gas anu
n,lnItv The distinguished gentlemen TO wnot nat !
have referred were by no means 1ne , ~ gbfins
,,ien.s should be embodied in the terms OF OUT
80 nf the municipal treasury. but that OF the
CHARACTER and quality OF the service 70 De
tho1,ghtflll and intelligent of our cltiZeh
ne long been convinced that the best interest
of the public would be best served serve 9 to onrship
s5d operation our water system and our system
o. "a after year the corporations have grown
more Independent and more scornfr OF the iif ~
Iaar after wear they have robbed the comm NY
with the Observation-Disclosures and the brav2ao 81
hghwayeg mbqed with 18th, feens 81 tbe SUPREME
rovgeT IN the land. Year after year charters nave
fe franchises and the city has failed to enforce
the terms Of the law Year after year the @ ao
b1eh have constituted causes Of forfeiture and
tbs a nas to fRe no R S5sRs 10 enforce '' ~
During the last two years in paFG n Of New
York Butcher felt when he first came 10 ctv Ia
snd said TO Wellington MY Cod wat raf E'y nr"
visions Of the law with regard to SaVe beer
d.ed ana oTerridden with gay hilarity and cynical
srresponsibty At last. the entire lighting system
hiss been strangled. definite end has been put t9
81 hi for the gqa a 81 { dansous and
eespeTate m9n2poy as nls{qrg y 9ss il is dumb:
n IS bind: 1t Is greedy and it is soulless and more
and worse than all this it IS rotten place in our
10 Contemplate without a shudder-
CONDITIONS IN MANHATTAN.
There are now in the boroughs of Manhattan and
The Bronx (and shall confine my discussion this
tion in Brooklyn is better and no less nsiseltly
The Bronx seven companies. which have been con.
soiiGated into one company, in clear defiance OF
was Incorporated in 1S22: the Manhattan Gas Light
Company. which was Incorporated in 1880; the Met
ropolitau Gas Light Company which was incorpo-
rated in 1875; the Harlem Gas Light Company, In
pany Incorporated in 1874; the Knckerbocker Gas
Light Company, incorporated in 1876 and the Con-
Others, incorporated in 1851 In addition TO these.
pany The Standard Gas Light Company. the New
Amsterdam Gas Light Company. the Central Union
pany. all of which are also controlled by the Con-
To begin with and for purpose of illustration let
therefore take the case Of the Consolidated Gas
panes 6rsf mentioned and witho6t reference for
the time being 10 any interest which it may have in
the other companies. The value Of the company S
plant consists OF:
Real estate plant $19 673 075
Material and supplies ACKNOWLEDGEMENTS. 500
Contracts, rights. 7.7s1 coo
Making the total So o7o57c
referred to above In opinion Of the legislative
commit tee, expressed in the report after most
adnafra bic Investigation conducted by Mr.. Hughes
the plant is actually worth less for the committee
says:
I'VE have no reason TO believe that the company
has underestimate their value tJhe value of the
several items Of its assets, and conclusion
the company. is that the fair value its gas maxi
ing plant including whatever franchises il may
own, does not exceed tie sum Of $20o000o0."
HAS A COMPLETE rysTE,r
Now the Consolidated company is equipped to
render a practically complete service throughout
the Borough Of Manhattan. and its acquisition
would be sufficient q beginning meet all i'm
mediate requirements of the people of the borough
According to the committee, its assets and its
franchises of greater value than $40 0IA 600
and to acquire this business conceive that even in
the present state OF what is known as the debt
limit. the city is prepared take over these rr0T-
critics Certain questions have been raised md win
be raised however. in the matter Of their yal11a-
tions Here place myself upon identical ground
quote:
The fact that the company. by rendering COM
petition impossible. has been able to earn large div
t6eTds, does not Justify il in adding to the value of
Its plant an additional for good will or
earning capacity, and therefore justifving the con
tnuance OF excessive charges. If this were ner-
united It would be able to secure in perpel1ty the
maintenance Of eXorbitant rates Fxtortiop For =
series OF years would be d sufficient excuse for