Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1912-06-04
bomb" F|zZLED
AT GAS HEARING
Innuendo Threatening to Shat
ter Calm at Public Utilities
inquiry mot intended
EXPLANATION MOLLIFlES
PUBLIC SERVICE HEAD
Mr.. McCarter Says All Jerseyites
Would Suffer by P. S.
Losses.

George l.. Record Threatened to shatter
the tranquility of the hearing OF the
Passaic Gas Company before the Public
Utilities Commission yesterday when ne
asked Thomas N. McCarter, president OF
the Pubic Service Corporation, IN a
most pointed manner, II n part OF inc
$500. 900 set aside for unforeseen ex-
pensesp was not used as a means OF
..nrotection in matters OF legislation.
The question had thu effect of a bomb
Al the hearing. and every one held his
breath to await the expected explosion
from President McCarter. whose face
clearly foretold the rising of his wrath,
as he collected his thoughts to answer
the query put to him
What do you meant he shouted at
Mr.. Record, who acted as If he appre-
ciated that he had made a mistake.
u mean nothing disrespectfuI. SAID
Mr.. Record, somewhat apologetically. Mr..
McCarter, however, plainly showed his
ire at the pointed question and he con
tinued.
mir. Record, our business is run ms
clean as a hounds tooth. You are per-
fectly welcome TO investigate our books
to your hearts content
The entire hearing was taken up by the
cross examination of Mr.. McCarter who
answered at length all questions put TO
him with regard to the financial opera
lions of the Public Service.
Mr.. McCarter maintained throughout
that the corporation should be allowed 10
enjoy the earnings OF a sufficient sum to
Justify the payment Of a dividend of 8
per cent. on the capital stock.
Public Service IntertwIned with State.
'.The whole financial status of the state
Of New Jersey is tied up In the success
full maintenance of the Public Service
Company was the assertion Of the pres
ident.
..There is not a hearthstone so humble
In this State that would not have a bane-
full shadow cast across it by the collapse
of the Public Service" said Mr.. McCar-
ter.
In prociaiming the dependence of many
financial institutions In the State on the
s~o-called 'justihabie earnings of the
company and by asserting that to over
ton the securities of the corporation
might mean financial ruin to some OF
them, MT. mcthrteT phfeu Tue WY ioi
. lengthy and somewhat excitable argu-
ment between himself ana Mr.. record
What banks would De ruineos asked
Mr.. Record, III the price of gas was re-
duced so cents a thousand cubic feetf'
II wouldn't say that any banks would
DC ruineu, ie.oi.eo WI
not q perIece TOOL
spshkins aoou. ~ poot poop'e VIM
misnl eapee. W oe N"n ~ ~.
ton :, ov ~. - ,us.. -a,at,aa 49,.
snso :. - -. ~ aeaa,aa 10 A.
s~rsS..s .ear.,,an and = s,hsoo,an. ,aI
~ -.
..rha.o noor,a o,o o,tbor d,roct,v or In.
s,-...,v ro,atod with tho HANKS and
would he directly affected by their fail.
mo. said Mr.. Mccerter. .'Tbe harm
coming from the reduction would be
sreater than any supposed benefit"
After Mr.. Record had fred many cues.
lions along this line to Mr.. McCarter the
latter replied
49, i,ta ,ha ro.,m ~ nb,,osonby ;, ond
an oxam,natior aiona thot linz oaasod
TN aua..,on ~ .ha electric raiIu.u
,ndus,ry toot mn cons,dorah,o limo dur.
H., 10 oftor,onn,s nrocood,ngs
,.rba o,octr,c industry 10 rocticory
~ ), said Mr. Mccartar ..tbe ers, oar
hs,no cont opt In Richmond o,,v tveptv.
four Years ago. A review of the history