Newark evening star and Newark advertiser., 1915-05-26
UTILITY BOARD
To INVESTIGATE
WATER COMPANY
Petitioners Claim New York
4 and New Jersey cimpany
Is Diverting Funds.

Tho Board of Public Utility Com
nissiokers today heard a petition by
Stockholders and bundholders of the
New York and Nea3 Jersey Water
Company, declaring the company had
filed different annual reports with the
stockholders and with the commits
y sioners, and asking that the commits
sion throw out the report
Turner A. Beall. one of the petition
ers. appeared to urge the petition and
declared funds of the concern were
being diverted to subsidiary concerns.
He read these figures. showing how
the stockholders were informed diff
ferently from The commission:
Water bought-Reported to stock
holders. s7t,176; reported to commits
sion. $76,22S.
Operating eXpenses-Reported to
Stockholders, $S4771; reported to
commission, $2S,396
Legal eXpenses-Reported to stock
holders. $2,773: reported to commits
sion, 5000
Interest for the year-Reported to
Stockholders, $50 ,S65; reported to COM
mission S64,S56
Profft-Reported to stockholders.
S27, ,3S9; reported TO commission, $ls,-
s14.
Taxes-Reported to The stoclhold-
ers, S21 ,37S; reported To the commits
sion, SS.23S.
"rhis SIS, 900 discrepancy in taxes
is exactly the amount of taxes due
the city of Bayonne from the Sub
urban Water Company and which
was to have been paid from a special
fund in the Mechanics Trust Com
pany," declared Mr.. Beall. Should
e report like that stay on the COM
mission's records"
Questions by the commissioners
developed that the Court of Chan
Gerry now has an action in which
the complaining Aholders are de
manding proper dividend. The
commission decided it would take no
action on the petition until the Court
of Chancery matter was settled.
The petitioners are: Turner A.
Beall, Kenneth NJ. Comger, stockhold
ers. Mary A. Geer. NJ. c. Scudder.
+. {. Gallagher bonhholders. all of
New York.
Public Service Interested.
The Sell Motor Company, of Gar
win. was the complainant in a hear
ing in which the rules of the Public
Service Electric Company were dis
electric motors, buys alternating cur
rent from the Public Service. and
with il operates among other things. |
Il dynamo which generates direct cur
rent for lights. fans and other uses.
The Public Service recently demand |
ed Cat the lights, etc, be wired up |
direct. The Bell Company, through |
It's president. A. c. Bell, today de-
clared direct current an absolute I
necessity in it's operations. and said |
If the Public Service would supply |
that current the motormakers would |
consent 10 the rewriting and pay 10
cents per kilowatt fiat.
Tic Public Service answer was
that 1t Goes not sell direct current
to small purchasers, and will not
sell 1t to the Bell people. If the
aBell people run their dynamo up 10 |
b0-horsepower, they can get the cur
rent the same way as they do now, |
and at the same cost, otherwise they |
must. the Public Service insists wire
up their lights direct and take alter |
mating current.
The commission gave the Bell Com |
pany, represented by Codding & Oil |
yer of Plainfield, ten days to file |
briefs, and the Public Service Ave
days after that in which to an
SMeF