The evening world. Newspaper, April 23, 1920, Page 19

| os PROVE 800. RATE NOT CONFISCATORY City Preparing to Combat Gil- bert Findings Affecting the Consolidated. MAY QUOTE CORTELYOU sib inciial offer of C Gas bonda set rely business re- forth the splendid profits made by the|solidated Gas System in 1919, after wou = ents of the ~ papaed and, for E EVENING ‘The gross revenue of the Con--entire Consolidated Gas Company, this, cors' eliminating inter-company ‘transad- oration not having suffered a loss in any single year. On the contrary, they have for thirty-five years declared tex- ular dividends, the present rate being 7 per cent. per annum, The powerful and profitable cdndition arising from the interlocking owner- this city is well summarized in the Prospectus of the present issue of bonds by George B. Cortelyou, Presi. dent of the Consolidated Gas Com: pany: “The Consolidated Gas Company of. New York directly and th its subsidiaries does practicalty entire gas and electric light and power busi- ness in the Borough of Manhattan, tions, was Over $10,000,000, of which 85 per cent, was derived from the electric business and 42 per cent. from the artificial gas business, “The five year secured 7 per cent. ! itute convertible gold bonds will soli~ the only bonded debt of the dated Gas Company of New York, and the company will covenant that it will make any pledge of any of its prop- erty other than shares of stock owned by it, unless the convertible ponds outstanding shall be secured equaily ratably therewith. “The $25,000,000 convertible bonds will be further secured by the pledge with the trustee of $35,000,000 par value, or over a majority of the cap- ol pany? of the New York Edison ,, the annual dividends upon wach © lone exceed the amount re- quired for interest on these bonds, adequate ost part, at 1 “The the $25, cent, convertible amount over twice the ann bsnl 4 the funded and bre baal of subsidiaries. purpose of the present issue of ey 000,000 five-year secured 7 Jay 000, tiny e ny “re Seay of the ph in fee by the Consoli vide funds for at turity on Feb. 1, fo ara ‘of $2 ma 248.50 convertible 6 per cent. deben- tures outstanding and for other pur- The funded debt of the com- pany is therefore being only slightly equity over and above five-year secured 7 per id bonds is repre- ®y the $100,000,000 common k outstanding, on which h been paid for present rate Leal Raxted ake’ Gas per|pany of New York is conservatively |The conversion privilege m: cent. convertible gold bonds is to pro- | estimated to be over two and one-half | fore, become very valuabl: times the present {ewe of convertib' funded debt of the company will be only 40 per cent. of the une an | with no allowance for the large equl- | ties In subsidiaries The company has very valuable portant being the capital stock of t New York Edison Company. The company further states: “While the stock of Consolidated Gas | Company ts ni selling somewhat below par, the average price during the pas' nue, bonds, or, in babes words, the art ACCUSED OF ROBBING BLIND. : m Caught With 288 Pennies, harged with robbing @ donations ets, consisting | box for blind Americ: youth who gave his Smith, negro, of No. 633 Lenox Ave- wos arraigned in Washington! Heights Court this morning. Policeman Murray Flattery of the West J7tn Street police station said he saw Smith climbini dow in the store of Ma No, “4001 Broadway, "| and found in Ms pockets 38 + | and assortment of nickels = | dimes” which, had been taken from the charity box.” lax Treiterich at | He at the policeman asserts, “The various companies comprising the system possess franchises furnishing gas and electric service which, in the opinion of counsel, con- tain no burdensome restrictions, are His ‘Own Words Prove How| he"asemcs % And in large parts of Utterly Ridiculous Is Plea of Confiscation. By Sophie Irene Loeb. Corporation Counsel O'Brien yiIt on ) Wednesday next file objections to the | findings of Special Master Abraham | 8. Gitbert in the consoNdated gas / case that the 80-cent law was con- | § fiscatory. 4 Among the principal objections tu be made is the fact that the most important decisions on rate cases . have held that profits or losses of cor- porations must not be reckoned over @ single year, as a criterion of the actual profits of the company; but / that such profits or losses must be | taken over a period of years, and an / average profit arrived at. The latest decision in this connec- tion was made but a few weeks ago in the Kings County case by Judge Greenbaum of the Supreme Court, Special Term, Part IV. = THE KUPPENHEIMER HOUSE IN NEW YORK Seay clings Why Wear Overalls? Reliable sais a At 3 a ’ Easy Payments — 7 | Every Ariicle Marked in Plain Figures. ship of gas and electric companies ip execute any mortgage upon or Thousands of New Spring Suits and Topcoats on Sale Today and eee Tomorrow at Radical Reductions ing an abnormal period is an tnsuf- ay e ’ : 5 ficient ground for declaring unconsti- Period Dining Suites, & tutional a legislative act fixing the | Ml sesmtere, Risitd, Watet Ameren wan OT 7 LO ‘4 50 and Mahogany, ranging in pricy price of gas at 80 cents per 1,000 cubic 263 Sixth Avenue T. KELI Y "Ct Near 17th St. © 104-106 W. 17th St. tent.” of town deliveries made by our own motor Ls In this case it was held that: “In- This i is Brill Brothers’ contribution to the national drive to cut the high ~ cost of clothing. We’re behind the movement—to the hilt—and are cutting prices to prove it. In the long run lower prices mean healthier business conditions for the merchant as well as for the consumer. + Despite the volumes of testimony and briefs presented by the Consoll- dated Gas Company, in that the 80-cent “rate is confiscatory, and which was “upheld by Master Gilbert, the latest This is not a special purchase for sale purposes, nor is it a disposal of surplus stock, but a deliberate cutting of our own profit for the purpose of helping the movement to force down the high cost of clothing. STORE OPEN 9 A. M. TO 5 P. M. REARN Fourteenth Strest Went of Fifth Avenue We want to help our customers who are wearing old clothes to buy new ones, and induce new customers, who are wearing old clothes, to buy new Brill clothes. $45, $50 and $55 Suits and Topcoats $65, $70 and $75 Suits and Topcoats “ Tomorrow $377.50 a $57.50 i Men’s Furnishings and Boys’ Suits Also Very Drastically Reduced Boys’ Fancy Norfolks | Men’s Silk Shirts Well-made Suits, $ | 5,0 Formerly $12 and $15 $ Formerly Up to $25 Crepes—Jersey Silks Well tailored, stylishly cut, gray and | Very handsome patterns in the delicate brown mixtures; double stitched and taped | pastel tints of Spring. Blue, lavender, green seams. All from our regular stock. Sizes 7 to | and pink are some of the colors, Also many 18 years. of white radium silk, Boys’ Spring Topcoats | Men’s Silk Ties Smart Models, $9.75 $2.50 and $3.00 Ties $ Formerly Up to $17.50 of Rare Beauty Finely tailored, of very smart, mannish | Smart, open-end four-in-hands in colors lines. Boys’ clothes at all stores except 1456 | that spell Spring: They'll tie well; wear well; Broadway and Brooklyn. look well. 1456 Broadway, at 42d St. Broadway, at 49th St. Girls’ Tub Dresses Li7Z Our regular $2.94 “ Pros ‘War Tax We | 25 The only limit to a girl’s need for Summer tub frocks is her mother’s need for economy, and happily this sale is a great economy event; offering such unusual values that to purchase a complete supply of these well-made little dresses is the surest way of saving money. DRESSES are made of checked and plaid gingham and plain colored linon and chambray, trimmed prettily with white or contrast trimmings, in a number of girlish models, a few of which are illustrated. Sizes’6 to 14 years. No Exchanges No Returns See Other Pages for Our Five Column Advertisement and Sale of Mildred Louise Dresses. M tri: St rts Stetson Hits Belber Lugga;: Hole proof Hosisry Imperial Underwear 279 Broadway 44 East 14th St. 47 Cortlandt St. 125th St., at 3d Ave. 2 Flatbush Ave, Brooklyn