Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-10-01

Continued From Page One)
also Council President Schmidt, partici-
pated.
TWO TELL OF PLAN
TO ASK RATE BOOST.
The statement that the gas company
will seek a 90-cent rate was made by
both President Welch and Mr. Potts after
Mr. Schmidt asked why It was that the
company, If it were in such dire financial
straits, has never asked the public serv-
ice commission for specific relief
Mr.. Potts replied that he and several
other members of the board of directors
have tried to keep the 60-cent rate IN
force out of a desire to keep Indianapo-
lis advertised as the only cit yin the
world with such low rate.
Attempts of the members of the board
and Mr.. Schmidt to draw from the gas
men some admission that gas has been
permitted to escape unwarrantedly when
a large amount of coke had been pro-
duced, because the company had no
tank In which to store the surplus until
it was needed, met with defeat, the COM
pany officials stoutly maintaining that
the greater the production of coke the
greater the production of gas.
They also would not admit that the
production of coke has increased sey-
eral hundred per cent during the last
eighteen months Wnlle Jne pEouuCtiOH VA
gas has not increased.
When Board Member Thomas a. Riley
asked If it would not be a good ides
for the company TO stop advertising gas
heaters for sale and to shut of all equip
ment now being used in homes for heat
ing purposes until July 1, Mr.. Welch
agreed that It was and said the com
pany would be glad to do this II 1t had
any legal authority to shut of equip
ment
Mr.. Potts said the publci service com
mission is considering the issuance OF
such an order.
SAYS NET PROFIT
SMALLER THAN SHOWN.
Discussion Of the recent financial state
ment Of the company led to a declara-
ticn by Mr.. Rastenburg that the net
profit was not $4,000, as the statements
to the press would indicate. but rather
only S179, OOO which figure is arrived at
after certain fixed charges are deducted.
A question by Mr.. Lemaux as to
whether it is not true that the company
makes its money of of the sale OF coke
was answered by Mr.. Potts:
eyes.
THE city Of Indianapolis is not paying
for its gas at all; it's the fellow in
Cleveland, Chicago, st. Louis and else
where who buys this very fine quality
of coke who pays"
Other gas officials stated that the com
pany receives only one-fourth Of its in
come from the sale of gas.
Mr.. Potts said that If the eO-cent rate
is obtained the company's income VIII
be increased about 100000 per year,
which would be enough to take care or
the borrowing necessary to make the
proposed improvements.
During the discussion of the method
Of selling coke through an out-of-town
sales agency rather than directly to In
dianapolis business men and manufactur-
ers the gas men declared that their prices
are cheaper than those obtainable from
eut-Of-tOwn coke producers.
This led Mr.. Lemaux to draw from
his pocket and read a statement which
he prepared following a personal inves-
tigation OF the coke situation several
months ago, in which be quoted several
prominent manufacturers to the effect
that the gas cOmpany's price was, on the
whole, approximately 81 per ton higher
than outside companies charged for ship
ping the product into the city.