New-York tribune., 1910-01-25
CHEAP GAS MENACE
errTT NAY BE RETITED
Com panq's Earnings Fall Be-
Io,r Supreme Court Estimate.


-.-soTiaated Gas Company. in his report to
- stockholders at their annual meeting
e.srsav presented figures showing the to-
- aaruings from the coulpany's gas busi-
= for the year 1909 10 have been S2,749,-
sssls.
rsae value OF the entire property of the
.,nnany as fixed IN the opinion handed
go, bv the Supreme Court of the United
rtstes on January II, 1903. was s55,s31.-
1s5. and upon hat valuation the court es-
+,r,sted the company would earn Il per
,eut on the sale Of gas al so cents 1000
-,bic feet Six per cent il was conceded
hx ire opinion. would be reasonable rate
~ return on the value Of the property de-
xoted 10 the public use. but it was held
.sst a slight reduction IN the estimated
vslue Of the company's real estate, plants,
&c. might easily give this rate, as would
-he probable increased consumption under
me lower charge for gas.
The total earnings, however, are now
shown TO have been materially lower than
ne estimate. the s2.74s,5sS actually earned
comparing with the s5.O5S,6S4. which would
ne the y per cent return upon the valua-
non OF S55.s12 ASS. and with the SS,S36, ,74s
which would be the return at per cent
NAY REOPEN CASE.
Upon this showing. IT is understood, the
Consolidated Gas Company, after the ex-
ni-arion on February Is Of. the twelve
months from the entering Of the decree
-s1 rrobably avail itself OF the privilege
which the Supreme Court in its opinion in
-imated would be given if, after practical
test. the rate fixed should prove unremuner-
srive. OF reviving the case, with the object
of re-sstablishins the old charge Of 81 q
l 900 cubic feet
The average sales Of gas a meter, Presi-
5znt Cortelyou says. have not increased
f-ou1 1905, when gas was 81. 10 1909, when
!, was so cents the additional sales having
bseu due entirely 10 the installation of ad-
d-ionaI meters The increase in business
n ire last four years has added almost
-ztabIy not only 10 the cost Of nanufact-
ure but also 10 the cost Of distribution,
and be adds
TIE comparison Of sales per meter also
es1ahl.Shes the fact that consumers have
received the full benefit Of The reduction
II he price Of gas and that the company
hss failed 70 realize the advantage which
4 wes alleged IL would realize in the more
rbersl Use Of gas at the lower price
The report quotes the opinion OF ex-
ue--s several years ago that the gas sales
oer capita in this city had reached the
NCi-- O. SELL-EL-QL- WHICH was
70 saying that the sales per meter had
reached that point: and proceeds TO de-
scribe The efforts which the company is
making 70 promote The use OF gas for
5-her than illuminating purposes.
The number OF gas meters in use at
ne end of 1913 was 777,S23. The good re-
suits obtained in the emergency depart
nent from the substitution for horse
drawn wagons Of automobiles, OF which
-hree are now n commission and two
are 10 be added this year, are noted, and
II outline is given Of the plans in opera
t1n by the company for the wellbeing
a is employees
Discussing The Supreme Courts decision
II TIE 60-cen- gas case, the report says;
On Jsnuzrv =. 1909. The date OF the last
annual report 10 The stockholders, the Su-
prene Court OF The United States had
rlade q decision II the SO-called Sg-cent
sss suil, unfolding the contention OF Inc
coLapszy On several important points, put
DECIDING mat the act could NOT al LnAl
tine q considered cor1scatory- II was
q urscrgcsl ez-oerfence Of the effect or the
scf by actual operation under II might eS-
nu obtain z fair return on Ine Na-us OF
Lar property employed n me gas per uon
n Cr-or-urirv OF again presenting It's
case 70 The court The decree, based on
1nSI decision, was uOL, however, entered
Un-l February l5s 1903 Gnd We nave Lnere-
f0-e r1C N experience Of less than the
necessary twelve months under It's opera
t1on.
Urtte6 STATES Supreme Court there mas
beer refunded 70 consumers during the
YEA s-y,=-t'---' --pN-H ---s l-G 5co ,ad --o-o
sn6 sCCl-l-g OF more than 1.SoO,U0O Voucns
s-E- which reCeSsiCa-eo lie emp!oynenI OF
more rhen 80 men This stupendous IN
os-raklrg Is now practically completed
DISPUTES WITH CITY
Referring 70 the taxation controversy
With r,e state and city. the report says
tast TIE principal point Of difference now
ex.st1ng IS The question whether or not the
intangible right Of the gas company can be
assessed Tor certain years The recent de-
cision of The Court OF Appeals in the ia
ustca water case Is quoted, and the report
ssvs that Immediately after HAT decision
negotiations were begun locking 10 the set
Lsmenr Of al existing claims between the
city ard the company, growing out Of the
amount due from the city for lighting the
streets ard public buildings, and out OF the
s-ount due from the company for special
frsuca-ss -axes The city has paid no
HFartrg bills since 1902, and the amount due
-rcu T. RI The company. according TO the
rsporr Is lager than the amount due from
ths ccr-rz-- n IRE CITY for special fran
crise taxes
Ths earnings ron rhe gas business OF the
lonzol-ds-ez Gas Company II 1893 were
10 - 70 which are added the surplus
Earnings If The astoria Light, Heat and
Porsr COMPANY. 500 SO S. and rhe interest
-ece--sC on rr= ir-es-msnt in that ccm-
psn" ea2- 81 81. ak-rg the total earnings
&ss ~ T. ~ about SO Ter cent on the
Tslue S-1 5 5-e =. ot rhe company's tangi-
be snd intangible property employed IN
- q business
TIE confined sales Of the Consolidated
Enc affiliated gas companies increased
-tSz5s3 2, .fset OF SO Per cent. IN 1903. and
re zstes RI electric current increased IA
- sz klovaJrs or 5.77 per cent Expendi-
Tlres lssr vesr tor construction Of gas and
electric plant acre Ss 777.Z75
The balance sheet as 4 December & last
',hoTs assets and llsblnues Of sl42, 3S3. .e5z 80
Ihe value u plat and property is given
as 81 sss o7- and Of securities Of other com
psnies sss.l74 43s Advances 70 other com
paaies aggregate sle.71 422. The accounts
receivable were 1n December 81 S6,all,6z9
ACCOUNTS PAYABLE and accrued charges
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