New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-01
GAS co. Sl6,OOO,OOO SHY.
on THE BALANCEtSHEETS.
Rot in Returns to State Board
Secretary's Sudden Illness.

soli5sted Gas Company and the returns a made
- the state Board OF Tax Commissioners;
sum Of S4.OOOOOO only partly accounted for; a
Dec,,liar system of bookkeeping wherein total
income" includes money still due and the nom
katfendance through a sudden strange illness OF
Robert A. Carter. the company's secretary. who
had sworn TO the seemingly false returns. were
among the unexpected features OF the second
session Of the Legislative gas investigating COM
roittes AZ the City Hall yesterday
The testimony likewise 10 show that no
5i-,serss had heen received on New Amsterdam
Gas. New-Yorz Edison and other securities. de-
srfte the fact that these securities were repre-
sented by q certain portion Of the capital stock
., which the Consolidated itself pays divi-
dends latterly as high as 10 per cent AS the
result Of the days testimony. the value OF the
Consolidased's property Is estimated at some
s27O0Ooo0. aside from the franchise rights
representing property or assets.
To-da,'s programme. when the session is re-
Furoed at 10 O'Clock. will be TO seek 10 ascer-
tain the actual property invested in plants. and
10 elicit the receipts and expenditures so as TO
form a groundwork for deducttans as TO the
actual cost Of gas and electricity.
ASSISTANT TREAsURER's TESTIMONY.
F7arismin A. Tyhiteley. assistant treasurer Of
rbe Consolidated company. was virtually the
only witness yesterday. Although the commit
Zee apparently considered he had made many
damaging admissions. Nj Whitley proved, on
The whole. = somewhat difficult" witness. his
sudden lapses Of memory at critical points Of
the examination. his guileless innocence or as
sumption Of innocence. as TO many things per
rsirfne 10 mis- department. provoking some heat
81 observations and inquiries from Charles f.
Hulhes The committees counsel
when forced into corner 10y the persistent
onslaught Of MI Hughes however. Mr- White
lev habituaHy escaped by pleading Ignorance
and by referring inquiries 10 the absent and
elusive Mr.. Carter AS habitualy, too. did
Charles F. Matbewson The oompanys counsel
and unofficial witness. rise in his seat and guard
against any attack in that quarter by the
nounoenent that Mr.. Carter was too i'll to at
tend the twain between them sorely taxing Mr..
Hughess patience.
RETURNS To STATE BOARD SEEM FALSE
Despite NIr. Carters peculiar illness. however.
he was well enough. according 70 the reluctant
testimony of Cornelius N. Carbonnell. the Con-
solidateds confidential man, 10 work at his Of
fee as late as $50 O'Clock on Thursday night
Nr MatheWson smilingly explained this away
bv saving M Carter had worked TO assist the
committee in the face Of his illness. the secre-
rarv's zeal 10 assist the committee in the inves-
,igation OF his oompany's affairs being. indeed.
partly responsible for his present lamentable
illness
The larger. apparently. false return 10 the
state Board showed a discrepancy of $12.S59.-
54z 70 II was ELECTED by Mr.. Hughess Cruel
ling examination Of Alr whteley 10 the re-
port made on June 30 1904. which showed as
sets aggregating S35 079 $40 80 whereas the ap-
parently corresponding items in the balance
sheet for TIE same date aggregated S47939. 121.
The smaller discrepancy was one OF 3.1S4.-
T63 -. The report OF June 30 10 the Tax Board
stated that the present value OF property in
streets, on the basis Of the cost Of reproduc-
ZION and allowing for depreciation" was 81 261,-
156 SO. Mr.. Hughes thereupon asked the Wit
ness TO turn to the balance sheet Of June 80 and
tel what he found entered there as the book
value OF the property IN streets, highways and
public places
The witness said the book value was
S7.445s93 l3. He could nor explain the dis
orepsncy between these figures and those sworn
20 by Secratary Carter in his report to the Tax
Commissioners
Earlier in the examination Mr. Hughes tried
70 ascertain from Mr.. Whiteley the disposition
Of some S4.ooo0O0 of S20OOOO0O received last
year from subscriptions 10 the ConsoIidsted's
Ie" issue Of per cent convertible bonds. Mr..
Nhteley said he could not tell
The 100000 couldn't have been lost IN the
shuttle, could it?" interjected Senator Page amid
general laughter
fhCtLlAR BOOKKEEPING METHODS
Mr. whitley testified 70 peculiar methods Of
DookkeeIing IN his explanation that the income
from securities held in 1904 was S1.016.5 .56S -. !
he nazaroed the opinion that the revenues
shown might include the amounts due. but not
PAID from certain stocks"
DO you mean 10 tell me-" asked Mr.. Hughes
n frank beVilderlnent, that in your statement
q operations for 1874 you would include under
income from securities owned something that
"es cue that gou had not got?"
yes sir said Mr. whiteley, calmly
LFeh Mr. Aathewson arose in his seat ana
BE- So"
IN me repetition Of the question by Mr..
hughes Mr. whiteley said he thought II
was So
~ . the discrepancies. Mr.. whiteley, while
admitting them said frankly OF each: I can't
explain H." and Mr.. Mathevvson. smiIjnelv dis
claimed responsibility Here or elsewhere Mr.
+" H-'eiey Thought, the only man who could
uhraVel the skein was the absent NJ Carter
Asse1nblyman Palmer was again ,hs o,,,. :,
eentee Of the committee. Senator Stevens r,sao
no formal ruling on the application Of the lsv.-
gers or the lighting companies for reooenitfor
Ihey were told unohlcially that the conrott,ae
welcomed their presence. hut would nor nerroi,
them 70 "obstruct legislation"
After recess Senator Stevens called for NJ
tarter Mr. Mathewson said Mr. Carter ,,,as
'i since The adjournment" he said. Il have
''il'ih uhlcated with Mr.. Carter lie has bea,, in
'e'eial Gays. but despite his illness he ,voyl.ed
" some ~ the statements presented 10 this
'finitiee hope the committee is not inn
Asea with the belief that Mr. Carter Is the
'lo@iee Gas Company Or has any objection