New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-31
Gas MEN FACE HIGGINS

IBy TeIerrlrh l. mo immune ]

Albany. March 3O.-Fighting their last hgnt
against the SO-cen- gas bill the representa-
tives of the gas companies Of New YORK ursed
the Cfover7o- to-day to correct the manifest
infustices" Of the measure. Their arguments
included an appea! to him not TO sign me OlIl
and they talked Of 'confscation" and the great
cost Of gas production. Ex-Governor Black ap-
peared for the Brooklyn Union Gas Company
He declared that franchises should be valued
not at the original allotment or the attained
valUe but at fair average Of the two.
The hearing brought out few new ideas, and
will have, according to the opinion Of those IN
terested in the situation little rea! effect on
the Governors disposition Of the bill 1t is con-
coded on all sides that he viii sign the measure
whose passage he did so much 20 accelerate oy
his annual messag sc. This viii be another strlk-
ing reform which the Republicans Of New YORK
CITY may credit to the Higgins administration
and this in its effects will be more tar-reachlhs
than the Eleventh avenue measure
Senator Page who introduced the bill in the
Senate and W. A. De Ford for the Independence
League were the defenders Of the measure to-
day Charles F. MathewsOr represented the Con
solidated Gas Company, and w n Dyckman
acted with Ex-Governor Black for the Brooklyn
Union Gas Company.
Senator Page declared thar the Legislature
had not Jumped at the bill without .nvestga-
to gas conditions in New York and Brooklyn.
AS to Brooklyn alone he said that the Brooklyn
Union. at its formation, had injected about $15-
Oo0OOO of water into the capitalizatio 1t
called in an expert from the Consolidated in New
York. he said who showed it how to write up the
value Of the right to lay mains in the streets the
goodwill Of the company. and even the right TO
exist.
Mr. De Ford told how the Consolidated Gas
Company. in Manhattan. also had dumped into
IFS stock millions Of water. The company had
an absolute monopoly of the business Of New
York City The 80 cent rate on this monopoly
Of business would afford very fair interest on
its watered capital while it would result In
from 6 70 s per cent, or even a higher rate on
the real value Of the companys property.
Ex-Governor Black declared that there existed
many features in the bill Objectionable that
Il should be sent back to the Legislature for
changes. even If the Governor did approve the
sO-cent price. Such changes would prevent an
Injustice so rank as TO be practical confiscation
Of such property Of the Brooklyn Union The
State Gas Commission. he declared, had COM
pleted it's investigation Of conditions in Man
haitian when IL made its order, but had not COM
pleted it's work in Brooklyn.
yet the same Legislature which a year ago
created this commission has taken from il its
rncoupleted duty" he said, and jumped head
long TO conclusions without waiting for the de-
cison Of the commission, or even allowing II 10
complete its Investigation"
The price fixed, Ex-Governor Black went on,
was too loT-so low 70 be below living
price Public demand for this measure had
bee, greatly overestimated, he thought
For the Consolidated Gas Company and its
allied organizations Mr.. Mathewson declared
that the bill 'confscation' and 'persecu-
ton" The penalty provided for violations or
the standard, $1,000, he said. was harsh in the
extreme.