HomeMy Public PortalAbout07-21-1913 (2)3i0 londay JU17 Clst, 1913a
cc- mica`.` cn rcccived of fined by ',71lfred JeSeYp: roc eK,
,inc t,:e hoard tc remoelves rith a resolution to
c b r;:grt ; crc; e the 00*..:.:on Council conferring authority c
of no Count, Cor..i:,sioners to construct maeeda-
s -e`.itioned for Edgar 1'. Haas, at al. before saic
oarsuant to notice. Me H. A. Dill Sups
City iatet Yorks, arFeared be'_Cre a Bc
petits on for eatensi on of Aatar, mai11'�nj
Yana t2:e National rasa to SOU:M st "Rw
mots on of Z7. Cimaermsndecide tro iATW
'ore =daring said extension.
In the matter cf pinning 1.1arvia
.eat 5th Street tm-the vest :cow
I•. Liameaaaa, contractor-
street, bet"een the :oints-i1.ppi
contract.
or,
El
r
gftwe
eg: lar meeting of the Board of pnhi lea: air g br
Richmond, Indiana, held on 1{onday Jx4y-
to the order of the Board maasa�y.,Taly
the -contract vdthe Allegheny ,;as' c'ompen .
this'City and all inhacitants thereof with natural gas. and in
accordance rith the notice published and posted according to
law, the Board now considers said contract*
Comes now the Light, Heat and Porer Company and fgles ma
Presents to the 'Board its protest against the execution of
said contract, rich is the only protest filed, and the sun°
is in the x7rds and figures, as follows, tc-hit:-
"^n_and0_-D OF ?U?LICH=' NF_LCITY Y OF =��05,
cCflC?.ovL?CC�-CCOU,
->
GEN' El HG
the Richmond Light, Heat and Pones Company+ n Ises
ta=-payer and because of the interest it has 1n the f for tse
already existing for the supply of artificial gas ansinst the
Suppligrantral Of franchisebtorthe I.lkes leghenymal protest
Gas C009 the TAP-
Proposedfor Plying natu.al gas in the City of =iohmond, and submits
fo-'_o-,ing for your considerations shed their
"he present owners of the ichmond Company acgcr t L',s
first interest about nine years ago. and the i stpurob8 be ,
been gradually increased to a large amount ttT wise of t r
he
Rho distributing system. capital stocl_. 83 a suPr3y of al
al gasbeceme exhaustedNatural Gas al soin 9by the�ezpendi�Ceoentsll y
Yro
earnings and additional monies advanced, far rep re tam Ira
ezte►sioae and improvements. No dividend or other3 is the
the investment has been realized and it is only s by a
t" years that earnings began to exceed fixed charms
Small profit.
Londay July 31st , 1913. 37
As soon as it was learned that nrturci gas was to be
made again available in the vicinity of'.ichmond the ?i�-ond
Company aked the Logan Gas & Fuel Company, the natural gas
supply company allied vith the t'ne Allegheny Co., for a sacrly
at prices -,3nich Muld permit distribution in Richmond as chcrr-
ly as in neighboring cities. It has been unable hore
tain a concession from the prices first demanded of
1COC cubic feet sold for domestic and Zip per 1000 a _
sold for commercial uses. Nor bas the Logan Company beer
ling to give the slightest consideration to any of the n•_
of suggestions made by the Ri&mond Company in an endeavor tc
reach any sort of arrangement that did not involve unreaeo -'_o
loss, The Richmond Company was entirely willing to make t
essary outlay of ,50,00O.CO or 1%)75,000.00 to convert it:
for distributing the natural gas, but it showed that upon
prices demanded, it =uld in addition have an actual loss ofy
;065.000.CO for the first three years under the :arimm of rated -
prices allowed by the proposed franchise, wren upon an assumpt-
ion of a 50 � increase in sales fan• the first year over present
sales of art ifi ci al gas and a 5C"; increase for the second year
over the first and a 50� increase for the third yesr over the
second. The Richmond Company offered to sell its plant at a
sacrifice or to lease it for a rental equal only to sized charges
of debt until profits might be made, and after that for a fract-
ional division of prcfits. The Logan Company was asked. up on the
strength oY its claim that sales of 600,CCC,C0C ar 700,000,000
or
cubic feet per yeas of natural gas could be oonnted*e ailfonly
Richmond, to agree that the 23 and cent prices par atould be
when sales of 5CC C00 CCC cubic feet ar more per 7a
act-aally developed, and that vhile the sales ve�heebtidine�slow-
er prices prevail as would allow thstatedthatif the Logan Cow -
cithout loss. The Ridnaond CosptaY selling methods, the nich-
pany believed the fault might be an Company to sell the
mond C cm --.any ras 311ing to allow the Log
gas for a percentage o� gross receiP s'
° at the situation of
It was urged upon the Logan Comrann8 given the beheIIti �g
the Richmond Company Justified its Loan Co=MY � g
wholesale rates at least as low as for distribution in Dritcence
to the Central Indiana Gas val
feeling I" Put' of its
bgas at y some ofcie theand lFari one This Sammembers oY the Comme n. ffi$e ths& the Logan
the request any as rates as
Con Committee's
ny endeavor ttoosgi� the Rdchanad4�nytbfor +o eo Co pane
it wasygiving to the Cen1arl 'notral repro entative of thhose tes sere but re -
at preseatiatathend r meeting has 86`�so et ply was reItr EadleY of the
Plied that he bib not �h�i nitro Assn fro ? .he reps ��
similar inquiry y the is ^tbe maibe proPosit-
Logaa Company, although ent+
by l:r. Clhitcomb, the FresidThpje I� aid se Central Indis�m
iontirely is quallynt@ but as rodaasat one
de reasons to believe
Co��y"' an9 has anbsta is sold Y t Toga60A t rfors
The q'and
that the prices at tC ch Bus ch Ass than yV
diet bu ti on at Uunci 0 ar'e �^y
Offered o the ichmO12 C°