Year: 1872

The Idea Very Pretty on the Surface, but


It Wont WASH"


The proposition of tho West Side Gas Com
pany, made Monday evening, is not looked upon
quite as fayorably by the head OF the City Gov
ernment as it was at first by some Of the mem-
bers Of the Council. The Mayor yesterday ex-
pressed himself quite frankly in regard to the
matter. The idea, he said, WAS 8 faVorite one
with Mr. Billings, who had mentioned it to him
pretty nearly every time he had met him for
year; the Mayor had invariably urged him to
reduce his charges for gas; but Mr. B., while
claiming that he could not reduce without loss,
had set forth lis side Of the case in the paper
he sent the Council.


The counter-case, as it appeared to the Mayor,
is about as follows: The city has no sufficient
or trustworthy guarantee Of an economical and
faithful management Of the gas-manufacturing
business. The moment the city guaranteed the
stockholders net profit Of 10 per cent on capi-
tai invested, that moment it ceased to be Of
interest to the Company whether coal Was bought
dear or cheap; whether the cost Of labor rose
or fell; whether the price Of iron advanced or
decreased; whether it Was more or less costly
to lay pipe; whether there was or VAS not care
lessneas which might lead to accidents, involv-
whether there we're many or few employees,
well or poorly paid-> On the contrary, it
would be for the interest Of al salaried officers
or employees Of the company to run
up their pay, nor would the Company
By 6r edng ng to 1s asf na6sE ssasn Il rdad thiG
not be o loser thereby, but the severe taxation
which it involved would be borne by the city,
whose people would pay it, as most Indirect
taxes are paid, without much resistance but
This very difficulty had prevented the Federal
OF State Governments from seriously attempting


ton IL saA'1 en 9ai11oaas sa by by the Plan Of
guaranteeing certain rate Of profit to the
roads. Whenever an j. effort has - been made made
has been raised, Chow are you to guarantee
economy, and fidelity, and integrity in the man.
agemcnt Of the ronds, when the stockholders no
longer take any interest in securing them?"
would be an admirable one for the Gas Company,
since it would give them an assurance equal to
that enjoyed BY the holder Of United
States bond !; it would be relieved Of all
anxiety, and Ill motive for business prudence,
drawing certain per cent dividend. The stock
holders would be Indifferent whether the gas
Was good or bad. cheaply or extravagantly
made.


Then, the Company would have no pecuniary
interest at stake to induce it to refuse to lay
pipes whero they we're not needed. Then, any
Alderman could have them laid, miles upon
miles, for the benefit Of speculators in unim-
proved property, and have them stretch
out upon the prairie, where there
Was not single consumer. simply
to add to the value Of this land. It would, IN
deed, be to the interest OF the Company to have
this done, since it would thereby add to the in
vested capital On which it was to draw 10 per
cent, The Company would, therefore, find it
to it's advantage to iog-roH With members of the
Council, and induce them to put through reso-
lutions requesting the Company to extend it's
mains. Tie ereater the expenses, the greater
the Investment, and the greater the dividends.


It would become impossible to tell what gas
would cost; it would be an ever-changing rate,
higher today, lower Tomorrow, but, as . gen
eral rule, always advancing, owing to the fact
in T Ieepine a dow down t the m psice. Tie Civ Govern
ment. foos is an eyer-chancing machine. Half
the Council goes out eTery Tear: there is new
HIayor eTery second year: the Boards and heads
~ 3anartmenta ara Constantly shiftinr M ana