New-York tribune., 1905-03-07
GRADY HAS GAS MEASURE.
Creates a State Com7niSsiOaD-aSstUa-
tion More Complicated.
.TBY TELEGRAPH 10 THE rR1sUNE.l

Albany March Gas viii have a field day to-
| morrow when the Fitzgerald 7O-cent bill comes up
for debate. The bill may be defeated then, and II
is declared by those in touon with the lobby that
! this is probable On the other hand. the ground
that this price is too low. it is planned to move
the substitution of an so-cent gas bill Finally Sen
ator Page is contemplating motion to discharge
the Finance Committee from further consideration
OF his resolution for e legislative investigation
The possibility Of q message from the Governor
IS still real. and IN discussing the question to-day
the Governor would not further than to indicate
that he did not intend to send in any message at
70 nights session Meanwhile the situation was
further complicated tonight by the Introduction
by Senator Grady OF new measure proposing the
regulation Of all gas companies In the State by q
State commission having powers similar to, but
more sweeping than. those of the State Railroad
Commission in another field.
This bill is not of my own invention" said Sen
etor Grady; 'it is the same measure that was rec
commended by the special commission OF 1885 ep-
pointed by the Senate to investigate the gas Ques-
tion. and introduced in 1856 by Senator Murphy. I
introduced mine that there may be before the
Senate an alternative In this present problem"
The bill provides for a commission Of three, ap-
pointed by the Governor at least one member to be
from the party not In power. The salaries OF the
commissioners are 10 be 5000 a year and en the
expenses OF the commission are to be repaid to the
State by the gas companies IN proportion TO their
output Of gas. The most drastic provision Of the
measure IS which limits the percentage of
earnings a gas corporation may turn over to its
stockholders. 1t is stated that such companies
must pay no dividends unless actually earned, and
then not to exceed 10 per cent. The excess beyond
this amount must be allowed to accumulate for a
reserve fund, and when such fund reaches 10
per cent Of the actual paid in capital further earn
ings shall go toward reducing the price OF gas to
the consumer.
Provisions are made against mourning unreason-
able expenses with view OF avoiding this part or
the law. Gas companies are forbidden TO increase
their capital stock except for cash actually ex
pended and TO issue bonds for other purposes than
the enlargement of plants. and then only on the
consent Of two-thirds of the stockholders.
The commission receives power over all gas
mains. and the present laws in reference thereto
are rescnded to meet such provision. The meas
ure fxes the standard OF illuminating gas at five
cubic feet hour mile distant from the place Of
manufacture and the candle power at 20 for water
gns and Is for coal gas. Provision is made also for
G system OF meter Inspection and Of semi-annusl
reports by gas companies to the commission Viola
hon of the law is made misdemeanor and the
offenders made liable to civil action in which
the plaintiff may collect damages varying from $50
TO $500
Senator Grady wanted the bill referred 10 the
Cities Committee. Senator Raines objected, and II
was sent TO the Finance Committee. That's hard
luck said Senator Bracket when the chair
nounced its decision.