The gas interest has this week received a heavy shock.
On Tuesday the Times published a "telegram "—it was really a letter—quoted by Professor Barrett, at Birmingham, announcing, on Mr. Edison's own evidence, that he "had just solved the problem of the subdivision of the electric light in- definitely." It also published a rather excited description of Mr. Edison's discovery from the New York Sun, in which it is alleged, apparently on Mr. Edison's own authority, that with Mr. Wal- lace's dynamo-electric machines he can divide the light inde- finitely, and distribute it everywhere, at a cost of about five per- cent. of that of gas. As Mr. Edison is the inventor of the phono- graph, this announcement caused a panic in gas shares, which have- in many instances fallen from five to ten per cent., and doubtless, if the statements are confirmed, will fall much further. The prin- cipal doubt is as to cost, as Mr. Edison gives no hint of his- method, and will give none till his patents are secured ; but he- promises to utilise gas-pipes, and there seems no reason why the Gas Companies should not still supply the new light. Other electric lights—for example, M. Jablochkoff's candle—are being tried successfully in different places, and there seems little reason to doubt that a revolution in lighting is at hand. It will, how- ever, take at least two years to complete.
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