New-York tribune., 1909-01-06
GAS AT so CENTS NOW
Consolidated TO CUT
BILLS At ONCE.
NH Not U-ait for Mandate of Court
Preparing to Distribute
Rebate Fund.

tore
..-5ing 10 an announcement OF the Consoh-
-, Cas- Company last night
Ga.-L memorandum handed down by the Su-
-,-, " counsel for the company said.
preH1 IL a brief summary and not the for
-, NJ f7a court, which is expected in a
NE or5 will fully explain the exact con-
F = cached 10y the court and the reasons
,icb they are based. Until this opinion
Up'1 -, handed down and examined the rights
hhs Do- oor,panv and the consumer cannot, of
-. he accurately ascertalned-
ooui'', -,.s, time. and until the mandate OF
,,o Court is filed with the United
u' f-,-c,It Court Il is probable that the gas
0 -,ry in sending out its bills, VIII stamp
' .ber, notice to the effect that NJ cents
upon c,,nic feet will be received on account
a.,5nr the fnal determination OF the rights OF
Che parties. ,...
N -, for the company are reported TO nave
=. rss,or7av tnat it would be an easy matter
sAs = oc+,,ai tests that per cent could
." .o~,ad and that the law, therefore. was
a...o-,, should the companies seek re-
- s,,c, action would tie UP the larger part
=. ca a3S go G2 now held by Commissioner
eb,sIss for disbursement 10 the consumers
d r,a.di,r that the s0-cent rate would be
o,esca.o-v the Consolidated Gas company
.o,,I,7 .is nm 81 9S3 011.5S nov held by the com
missioner. besides the amount due since last
march the time the company is said TO nave
made its last deposit. The other companies
aou,5 have 70 seek other grounds to prevent
t 7is,-,,,,tion Of their money on deposit. as Il
7,o,,Id sppesr that the court has not held 81
zen, gss 70 he confscatory in their cases.
PROBLEMS OF DISTRIBUTION.
One nro,,lerr which will confront the United
States Commissioner in the final distribution
~ hat : yy9a Wi he
snv money remaining over. Many consumers
have lost their rebate slips. others have moved
away and a good many persons with only
small sums TO their credit, probably would
rather lose the sums than go to the trouble to
collect them. Commissioner Shields says no
law covers the subject, and that it will have to
be eft to the order Of the court
What concerns the Commissioner most is the
room packed 10 the ceiling with gas bills,
which he may have TO make payments. Those
who have lost their proper receipts. after go
ing through some red tape IN proving their
Claims should the rebate be paid, will have lit
as 6ifcuty in collecting their claims.
The United States Supreme Court has thirty
dsys in which 10 file its mandate. which would
make aIc decision Effective forthwith. The pay
ment sf the money held by the court TO
the consumers would then begin the
machinery in Commissioner Shields's office could
e.t az work
To provide for the rush which undoubtedly
will begin as soon as the mandate of the court
is fled, Commissioner Shields has told the
cashiers Of the National City, Hanover, Bank of
Commerce. Merchants Citizens National. Sea
board and Importers and Traders banks, where
The funds are On deposit. TO be prepared within
month 10 honor drafts presented by con-
suners Commissioner Shields said that he had
e.z-- Hio h. 1,al n
nands for the 20--ent rebates already.
MANDATE DUE IN THIRTY DAYS.
The mandate Of the court will be sent to the
United States Circuit Court for this district,
s1th Instructions 10 the lower court, and then
viii be transmitted 10 the commissioner. While
the court has thirty days in which TO file its de
csien action is e--pected within about ten days.
The paragraph in the decision upon which
counsel for I'll Consolidated Gas Company are
sssd to hang their hopes for retrial is the final
one which says:
AS ii NAV possibly be that a practical expert
eacs of the effects Of the acts by actual oper-
s''on under them might prevent the defendant
Iom obtaining a fair and just return upon lis
fsoperty used in its business of supplying gas,
tes complainant. in that event. ought 10 have
tse opportunity OF again presenting its case to
as court
IS believed that under this the company
@S when the S0-cent gas law went into effect,
lae company has not been able 10 make the o
per cent 10 which il is entitled under the memo
'enoum handed down by Justice Peckham. and
mat therefore. the law is confscatory- There
Probably would be some difference between what
ue COMPANY would claim as its capital and
wat would be presented as its capital by the
city
DE-T-T
Consolidated Gas which closed on the Stock
r1enange on Monday at 141, had wide open
nag yesterday, the initial sales being 300
elsfes at from i40 to 1884, and before the end
u lie first hour the stock had declined to 132.
oe'ore noon il had rallied TO 134&4. and after
ach nuctuation stood at 1903. at o'clock In
ne maj hour it broke AZ points. TO 126A,
snrnksge Of 80 points from the best price of the
preceding dag. and it closed at 12S. net loss of
% points for the day and of 3GI4 points since
os1urdsy The transactions N the stock were
u excess OF $1,000 shares, more than twice the
eaount traded in on Monday
great deal Of Consolidated Gas is held by
'usomers OF commission houses. who have
'hsh II on from time TO time during the last
'A months in the confident expectation, which
Aes Ger general in Wall Street. that the de-
-Sacn Of the Supreme Court would be in favor
ne company and liquidation by such holders
supplied large part of the sales since the
,''nhceneht :, Of the unfavOrable news from
shihgion early Monday afternoon
me heayy stockholders are also believed TO
- contributed IA important degree to the
- ef s''ies Of Gas" and the especial weak
!, yesterday Of the stocks of the so-caileo
-'i'tlan railroads. in the control OF which the
Interests ia Consolidated Gas also
,Ai'fsHt. :, was attribute8 in some quarters to
Break Ia Consolidated Gas In the early
% the day the general market showed
ts-aey 10 cut loose from Gas but the sharp
esk in that issue toward the close induced
selling throughout the list. prices touch
: tlelr lowest levels in the ast half-hOur and