Jasper County Democrat, Volume 7, Number 52, Rensselaer, Jasper County, 1 April 1905 — INVESTIGATING CO[?]AM GAS [ARTICLE]

INVESTIGATING CO[?]AM GAS

One Company Says It Has Keen Operating at a Deficit of $1,000,000 to 93,000, 000 Yearly. New York. March 31. The first day’s session of the legislative committee which is inquiring into the lighting situation and alleged monopoly and combination of gas and electric companies in New York city, was productive of a statement on the part of Senator Stevens, the chairman, that no executive sessions will he held: that the companies must give their answers to all questions publicly, and must produce the(j!)ooks giving complete accounts of receipts and expenses. This, coupled with the announcement that Charles F. Murphy, leader of Tammany hall, would be called as a witness, gave immediate interest to the hearing. Officers of the Consolidated Gas company, the controlling organization of many lighting concerns, declared the company has been operating at a deficit of from $1,000,000 to $3,000,000 yearly. He admitted, however, that this deficit was shown after payment of dividends ranging from 8 to 10 per cent.