The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1912-04-12
81. la rs WORKING Nh.

Sso2,ooo FOR WORKING MEN.
Continued from Page ID
cfscerS oJ the company. showing the
2uosS r0ot0c1on Of Ess and hy-pro-
6actS, and. In addition thereto. all
aalsS anon which payment Of FIVE
ner cent. on such gross production,
wsl2 ~ made.
Un6s, this ordinance The officers Of
the company sre required to make
s-cA Sworn statements. showing the
zToss production Of gas and by-pro-
6nctS s26 an other facts upon which
rhe civ IS entitled To five per cent.
cn Snch cross production.
I'D. Under this ordinance the city
is given the power and right, through
5rs properly 6eSiEnated officers, TO ex-
anime The books and records of the
company. in connection with the
sworn statements OF its officers. in
order To learn the true condition OF
The business Of the company ana the
aocnDteless or sudiciency. Of the
payments made on GROSS production
OF gas and by-prOductS.
IL Under the rejected ordinance.
while the city reserved the right to
purchase the right was so involved
and complicated as TO render it i'm
possible for the city TO have ever
been in position 10 pay the price
which would be determined under the
provisions Of the ordinance.
Under this ordinance the city re-
serves the right TO purchase by pay
ing for the value of the physical
properties of the company without
valUine the franchise of the company.
The purchase. price. under this or
dinance 10 be fixed by arbitration, in
which the CITY appoints one arbitra-
tor and the company one, and, if
the two disagree, they shall name a
third.
Y. Under this ordinance the right
Of purchase is given to the city in
precisely the same language as is
contained in the ordinance OF the
Nashville Gas Company under which
said company is now operating.
The reserved right of purchase on
the part of the city, as given under
this ordinance, is virtually an extern
sion of the life of the franchise of
the old company for a period of six
teen years, with benefits to the city
and consumer which the old company
cannot afford
13. Under the rejected ordinance. no
provision was. made for any sum of
money to be spent for betterments
and improvements of the plant.
Under this ordinance, by Section
is, this company is bouHd to expend
not less than FIVE hundred thousand
dollars ($5OO,OOOOO) in five years
from the date of the ratification of
the ordinance by the people. This
obligation on the part of the COM
pany is made a part of the considera-
ton for the grant.
While the ordinance binds this
company to spend not less than five
hundred thousand dollars ($500,000.-
00), it is more than probable that the
company will spend a million dollars,
or more if necessary in extending
and thoroughly equipping the plant
IA. The rejected ordinance contain
ed no provision whatever with refer
ence to the heating value of gas.
Under this ordinance this company
must supply gas of Is candle power
for lighting purposes, and gas that
will yield 600 British thermal units
per cubit foot, for heating purposes.
Is. Under the rejected ordinance
there was no proper provision made
for compelling the company to main
tain the proper standards for the
lighting and heating value of the gas
furnished.
Under this ordinance, if this com
pany fails to furnish and supply gas,
in conformity to the standard of
light and heat values required, such
failure on the part of the company
will forfeit the franchise granted by
the city.
The old company,-that is, the
Nashville Gas Company,-on account
of its limited franchise, has. 0een I'M
able to make financial arrangements
to properly improve its plant, extend
its business and serve all consumers
of the city who desired to have the
benefit of it's service
This condition has resulted in the
failure, on the part of the old COM
pany to develop it's business, in such
way as to give to the city tie largest
possible benefit from the five per
cent payment ON tie gross produc-
tion of gas and by-products.
OF course, it is perfectly clear that
the larger the business, and the more
extensive the operations of the COM
pany, the larger will be the payments
made by the company to the city on
the gross income from the sale Of
gas and by-products.
If this ordinance is ratified by the
people at the election on April 10,
tba oitxy will than rnoaiva tha Q1O0 !