New-York tribune., 1919-01-28
Consolidated Gas
A Big Prod ducer
OF War Materials
By-Products of Local Plants
Supplied Large Quanti-
ties of Munitions: Slump
i'll Earnings Z in 1913

Until the signing of the armlsclce
the Consolidated Gas Company was
actively engaged in the manufacture of
TINT, the high explosive ingredient
that played such an important role in
defeating the Huns. George B. Cor
telyou, president, said in the annual re-
port issued yesterday that 213340GO
pounds of INT we're produced by the
company. Two pounds were required for
cne French IS nm. (three-inch) shell.
so that this quantity was enough to
load 10,672,430 shells.
Mr.. Cortelyou also informed the
stockholders that substantially all the
carbon which was used for the gas
defence OF the United States forces
was produced at the Fourteent h Street
and Astoria plants. There were shipped
to the gas mask assemblage plants, he
SAID, 6,433,74l pounds Of approved ma
terial
Another material employed in the
oanisters of gas masks for the further
purlfca ON of the air and protection
against poisonous gases was what is
known as soda lime This was pro-
duced in large quantities at the As
toria plant, under the direction OF the
gas defence division of the govern
menr. Between December, 1917, and
November, 1918. total Of G,520,35l
pounds of material was used, from
which were obtained 3.966,7S2 pounds
of soda lime" l27,o00 pounds having
been used by the navy.
Big Slump in Earnings
The annual report OF The company
states that figures thus far available
respecting the Consolidated Gas Com
pany's operations for the calendar
year 1918 indicate that its earnings
from its gas business during the year
amounted to $94 400 This was a de-
crease OF $2.443,61J compared with
1917. Other income last year, which
was derived mainly from the com
pany's heavy investment in the New
York Edison Company, totalled STILL
3l2, an increase Of Sl,99o, ,464. The net
income after charges amounted TO So
702,400, and after allowing for the
payment in 1918 of the rcgulor my
cent dividends on the $100,253. 900
stock outstanding there remained a
deficit OF $l292 1893, against surplus
of $685. 70S at the end of 1917.
Calling the attention of stockholders
to the SUIT recently started by the
company in the Federal court to test
the validity Of the law limiting the
price of gas 10 so cents per thousand
cubic feet, Mr.. Cortelyou said:
Under this rate the company was
scarcely able 10 earn, during the wear
1918, any return upon its investment
N It's gas business; and there is every
prospect that, Notwithstanding the
termination OF the war. the earnincs
will be still further impaired durino
the ensuing year by the high cost of
labor and materials and other clements
of cost ~
Sales Of Gas Increase
he amount Of gas sent out bv the
tonsolldated and its affiliated gas com
panles during 1918 exceeded the total
Ior 10 'he preceding year by 7.)2 per cent.
! ! mere was net increase Of 107.4l4 in
she number of appliances in use. Com
ol"ea gas sales of the parent company
ana ITS affiliated properties in the
" NtdI, | ne Bronx
Queens and Westchester County
amounted to 2,209, ,707 900 cubic feet
more in 1918 than in 1917. gain Of
'.lS per cent. Sales of electric current
last year amounted to 156,649, ,203 kllo-
watt hours, an increase of O.9l per
cent
Stressing the difficulties the com
pany experienced in 1913 because of
higher operating costs, Mr.. Cortelvon
noted that the price of twentv-sevcn
materials, including coal, wrought
iron pipe, cast-iron pipe, steel harx
sheet IRON, malleable iron fittings. red
and white lead. pig lead. copper. ire
clay and building materials, increased
ol per cent. He adds
'"rhe total increase in the operatinr
expenses of the Consolidated Gas Com
pany alone, due to the increase in the
rate of wages paid and in the nricc
Of coal, gas-oil and other materials
and supplies and due to the increase in
taxes and to the greater quantity of
gas sold, amounted to $2.679.2l6. Tho
total increase in the combined operat-
ing expenses of the gas and electric
companies during 1918 amounted ~
clay and building materials increased
, 'n9o' 9l9 IN taxes and an increase Of
: ,4sS,b29 due to the greater ouantitv
IF gas and electricity sold.'