South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-04-18
THE GAS OCTOPUS" AND ITS RATE
SUSTAINING SUBTERFUGE.

Thanks awfully. We at least have the assurance
from Pres't Clarence Fl. Geist the Northern
Gas Electric Co. that there will be compromise
reduction of South unless state
public service commission orders hope this will
preclude the gas octopus coming the
last moment, and through attorneys otherwise.
seeking TO make the public believe that they had
made some compromise propositions long ago. that the
city had refused and which would have been
better for the city, course anything
commission would allow The efforts of the Indiana
Michigan Electric Co. through the same attorneys.
and otherwise to put that bluff still fresh
the public memory.
But Mr.. Geist tells exactly" why afford
to reduce gas is he says the local
plant Is oil plant, and oil is high. and he get
ii of Mexico, and plans under way the in
stallaton of coal plant here. number of other
things-aH of which is a splendid array high class
bunk, the ability gas company
reduce Mr. Gest wasn't pleading poverty for
his plants for the Murdoch plants recently
I'm the Geist- Murdoch gas merger. when
laying foundation for 5,4OO 600 bond issue
he succeeded in humbuggng the commission sufficiently
70 get that through but Mr. Charles j. Murphy utility
darling the commission. has since resignedwe guess
by request OF the governor-and anticipate his
Mr.. Anthony Deahl larger sense of public
interest
south Bend Lafayette and indianapolis are all af-
fected by that Lafayette already
fered 10 per reduction from the dollar that
prevailed there under the Murdocks The Lafayette
who protested against the have received
that much consideration at least The scope Of the
merger. and how IL may affect the commission in the
local is interesting least Unless certain phases
disregardeG by the commission the burden
indicted thrown upon the capitalists.
stead shouldered upon the consumer. reduction of
rates would Doe a diHcult matter II the plants
could be operated without any expense whatever
BY the terms of the merger. permitted ap-
proved by the commission. the Northern Indiana Gas
and Electric company, which is controlled by c. H
Geist and other eastern capitalists authorized to
buy the General Service company and the Indiana
Lighting company. otherwise known the Murdoch
terests price Of the General Service company
approved by the commission 600 and that OF
shc Indiana Lighting company. S4.5O0OOO, To meet
this obligation the Northern Indiana Gas Electric
company authorized 10 issue S5.4OO,OO0 in gold
bonds These bonds to have life OF years and
bear per interest.-mind YOU. per cent
The decision unqualified victory for the cor
poratons. point the reasonable representa-
tols or the consumers fully considered. The opinion
from begnning end attempted Justification
OF the Murdoch interests; second OF the
and third Of the public service commission IL
self The gentlemen's agreement reached by Messrs
Geist Murdoch was effect indorsed. The com
mission refused do the thing essential proper
understanding of the stuaton-make physical exam
Nnation OF the Murdoch Instead taking the
Valuation figures OF the Gest engineer basis Il
made It's own computations through original unit
prlces'vghatever THAT may mean-and arrived the
conclusion that the Murdoch properties worth
less than SS.622OO0.
Ilals nothing more than paper-or agreement
valuation. The Murdoch properties already carried
bonds II $4,000 600 The Geist company was
authorized 10 responsibility for these and tc