New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-25
JACKSON IN GAS FIGHT.
Continued from first page.

hs data alta, that this Office has and all assist
In addition TO the proceedings to be brought "a
test the validity Of the franchises have deter
Of certain real estate wbirb i =" i1s lain 10 ttle
to own but which the city claimed the suit lust
This land was valued by the expert for the com
Pany at $932255. and by the expert for the city al
The land in question embraces that portion of the
4Ist 42d streets and 4tth and 4St sira
North River: within the lines OF Tompkins street
the lines Of Exterior street between HON and nth
streets and that portion Of the plot Of the land
easterly u Iompkins street 'as laid under the
The city claimed the complainant. the consol-
value Of this land as an asset but that the city
WIS emitted 10 deduction from the total value OF
suGh an amount rs may be determined be the
AS to this claim Of the city the master in his
report says For present purposes It is sufficient
claim Of title and bg y TN m 9ndsT
ma business Of gas making This requirement is
Phe I9mPkns street land forms part OF com
land part of its 42d and 44th street plant
8 have assigned Edwin J. Freedman, Of this Of
VALIDITY Of he a Of 'tF the ns to as ,h
at once instituted. ' 40
Mr. Ellison added that he has appointed ex-
senator Richard H. Mitchell to aid Mr.. Burr in
the extra work Of investigating the franchises
The first news of the Attorney Generals appli-
company by reporters, and a copy Of the appIi-
cation. with Mr.. Jackson's statement WAS caro-
fully gone over by counsel before Mr. Living
ston gave out statement in behalf Of the COM
pany
GAS COMPANY's STATEMENT.
He said in part:
dated Gas Company that it is maintaining a mo-
n"pog' ana thus affecting gas prices for the simple
O Ra and avtao ,,,i,
OF electricity, is fixed by the state In a On Sc
Cuneen AtorneV Ccner edrst Pefore the late John
Attorney General, decided that so far as the New
York city gas companies were concerned no charge
S could lie that those companies in any way in
So far as the franchises Of the New York Citv
gas companies are concerned, all one has TO do il
York and Richmond Gas companny ea apt rel; New
we'll 80 Appellate Division 2Sl which had been
operation Of the greater New York charter Of 1881
became became part Of the city of New York. and which
tricty for permit to open certain streets not nre
viousIy occupied
Mr. Livingston said that the application was
denied by the Commissioner on the ground that
the franchise did not include these streets Tho
company contended that IT had obtained per
mission from the Highway Commissioners NJ
each town. The court held. Mr. Livingston Gotta
that since the other town officers had not ouas
toned the right of the Highway Commissioners
the presumption was that they had given their
consent.
The statement enters into the history OF the
Consolidated and repeats the report of the COM
mittee OF three appointed by the Senate to in
vestigate the company in 1885, year after II
was incorporated. A majority OF the commit
tee, after going the ground for a year re-
ported that ii found the law of 1884 author
lied the company to pay dividends on It's fran
chises. The committee declared the questions
TO be answered were Did these companies have
franchises and IL they had We're they capitalized
at the.r fair aggregate value?' The committee
said:
We forced to the conclusion that the fran
chises of the New York, Manhattan. Metropolitan
and Municipal worth much more than the
sum given and If these companies fit to give
a part value OF their franchises to the stockhold-
ers OF the Harlem and the Knickerbocker II was a
matter that interested only the stockholders OF
these companies.
In his statement Mr.. Livingston said that
during the recent proceedings before Master
Masten the only direct evidence on the value Of
franchises was produced by the Consolidated
Consolidated gas stock was very weak yes
terday. following the action by the Attorney
General. and closed AIS points down from the
close OF the preceding day: 400 shares were
disposed OF at prices varying from 125 at the
opening to 122 The closing price was 1924.