From the foregoing tabulations it appears that of the 408 operative companies reporting, only 72 are dividend paying. Of the 159 electric companies, 35 only pay dividends, and of 51 gas and electric companies, only 14 pay dividends. The coal and water gas companies make even less favorable showing in this respect, for of the 51 reporting only 8 are producing returns to stockholders. The total bonds and stock issued by all lighting and power companies of the State amount to $531,421,098.33, equal to about $75 per inhabitant of the State. The individual and municipal plants represent an investment of $1,159,298.92. The amount of gas of all kinds sold annually to consumers is 36,391,539,821 cubic feet, and the amount sold for public lighting is 1,524,249,719 cubic feet. The enclosed arc lamps for public lighting purposes in use in the State are more than double the number of open arc lamps, which only number 10,269. The average candle power, as reported to the Commission, of gas supplied by gas and gas and electric companies is 19.47. The average maximum price of coal and water gas for the entire State for all companies is $1.56; the average minimum price for coal and water gas for lighting is $1.30. (If the Greater New York city companies were excluded these average prices would be higher.) The average maximum price charged for oil gas is $1.98 per thousand; the average minimum price. $1.74. The average maximum price charged for acetylene gas is $14.58; the average minimum price, $14.05. The average bond and stock capitalization (issued) of electric companies is $1,166,850. The average bond and stock capitalization (issued) of coal and water gas companies, including New York city, is $4,563,861. The average bond and stock capitalization of gas and electric companies (issued) is $2,077,302. While no satisfactory statement of comparative growth will be afforded until subsequent annual reports are compiled by the Commission, the figures of the United States census as of 1900 form an interesting basis of study: GAS COMPANIES COMPARED WITH THE FIGURES OF THE UNITED STATES CENSUS OF 1900 AS REPORTED IN 1902. From the table which appears above, the preferred stock of gas companies has increased from $15,538,400 to $23,716,000, and the common stock from $101,492,116 to $175,007,211, and the gas sold from upwards of twenty billions cubic feet to upwards of thirty billions of cubic feet. It will be observed that these figures all approximate an increase of upwards of fifty per cent. within the period of the last five years. The same proportion of increase of capitalization holds good with electric companies, except in respect to the increase of common stock, which increase does not exceed twenty-five or thirty per cent. The use of enclosed arc lamps for public lighting has more than doubled and now reaches 24,189 as against 10,720 in 1900, and the use of public open arc lamps has fallen off in the same proportion, or from 19,888 to 9,298. Municipal lighting industries in the state show a comparatively small increase in number as well as in amounts invested. The preponderance of the lighting interests, gas and electric, of the City of New York, is well illustrated in the following tables, showing the capitalization and amount of gas sold by all the companies of Greater New York as compared with the remainder of the State. From these tables it will be seen that while the average capitalization of companies furnishing gas alone throughout the entire State is $4,563,861, the average capitalization, excluding the City of New York, is only $728,511. New York City alone furnishes eighty-nine per cent. of the total capitalization of bonds and stock issued throughout the whole State by companies furnishing gas only (coal and water), and ninety-five per cent. of the total sales to consumers by such companies. The figures for companies operating both gas and electric plants are quite the reverse, in an equal proportion in favor of the State, outside of New York City. Of the electric companies outside of New York City furnishing no gas, the average capitalization is $350,377 as against $1,166,850 for the entire State. Of the purely electric companies New York City furnishes seventyone per cent. of the capitalization and seventy-six per cent. of the number of commercial incandescent lamps used in the entire State and supplied by such companies. New York City Companies report nearly one-half of the public enclosed arc lamps in use in the entire State for street lighting and 3,250 open arc lamps as against 2,045 in the rest of the State. |