New-York tribune., 1909-01-27
CONSOLIDATED PETITION.
Counsel Take Issue sCith Supreme
Courts Conclusion.

Washington Jan "a petition for q rehearing
II the New York Consolidated Gas case was filed
IL The Supreme Court Of the United States this
afternoon
NJ Beck and Charles 2. Msthewson. who represent
thet the Supreme Court departed from all prece
dent in failing 10 grant relief and in placing the
entire cost OF the litigation a complainant who
has sustained substantial portion Of his bill The
portion which they refer IS that relating 70 the
pressure requirements Of the so-cent gas law, the
unconstitutionaiity os which was declared by the
court and Il is pointed out that while this was
done the inadvertently failed TO grant relief
from this requirement. Il is also asserted that the
action of the Supreme Court. which has the effect
Of vscating the injunction prohibiting the enforce
Of the 76-cent Of 1905. leaves the gas
pany wholly without protection against the suits
brought to recover excessive payments made under
that ian.
II is contended that IN naming 5Iz per cent as
the present return on the courts valuation OF the
gas property. which Sc. 435 the court has
In effect declared the whole law invalid because
81 the same time il said that per cent would be
reasonable return II is urged that the courts
assumption OF increased consumption far
beyond anything that within the realms of
reasonable pro5abil because. for reason,
fhe use Of electricity prevents very rapid increase
in the consumption Of gas II is then argued that
even this increase should be realized, ii would
fs far short OF bringing the returns UP TO the 6
setstn this return there would have TO be total
aggregate increase in sales OF 27l6 10000 feet with
cut allowing anything for increased distribution
e1Pense- or any return increased distribution
capital Such Increase 1t is asserted, would
e twenty times the increase I'm the sales of 1875
over those of 1904 and it far exceeds any increase
IN petitioners experience due to increase in popu-
s'ion and reduction in price combined
On the point made by the court that the income
oi the company represents per cent on very
shsht reduction in the estimated value Of the prop
er'y OF the company, the point is made that IN
order to meet this suggestion IL would be neces-
sary 70 bring the total down TO $505Oe.ss7, reduc
oh equivalent 10 II per cent IL is intimated that
40 ,ne oriei time given by the Supreme Court 10
He subject II could not be expected that II would
question the soundness Of the findings of the mas
'er who had the case under consideration for
sear' and Of the Circuit Court, which gave more
Tan week TO the argument OF the case
IL Is declared that the net ess-nngs of the COM
s1nF Tor 1858 on basis of so-cent gas were at
east ss""s below the S3.e4.0oo estimated by the
oO1i' ior 1896 and show return OF only about !
pei cent upon the property.
Sohn A Carver, OF counsel for the Consolidated
s company. said yesterday that decision OF
- court respecting a rehearing would probably
mace before tie date set for the issuance Of the
a'oate February T. This would mean that
.'o me petition oe denied there would be no IN
le'ence with Me distribution of the money de-
"eo with Jonn A. Shields. United States Com
sSoner amounting so 100000. Should there be
.ehearing. however. the mandate would be
- up and the distribution would have to wait
me action Of the court on the representation
case. The court. II was said, would adjourn
TWO weeks on February l. so that decision
me petition pretty sure to be made before
<-ahy hold=rs of Consolidated Gas stock after
sssuilg the annual statement Of the company
g. hgd decided. evidently that # would be
ming To sell their holdings and as a result
- was violent break in the stock yesterday
~ dropped from 1851 at the opening: TO HIS
S was new low point for the year, being as
80 80 Under the level reached on the movement
<H started January 4 when the stock broke
HSs 20 l3s. the announcement OF the
.saene Courts decision against the company in
bn
-eT touching ls75s support appeared ana
STOCK recovered couple OF points IL closed
1s<. which a net loss of ss4 points for the
- The total sales were q $50 shares. which WAS
Seek