National Republican., 1883-04-11
THE GREAT GAS GOUGE.
Sworn Statement Showing How Rapidly
Money is Made.
Sn Interesting Analysis Of the Treasurer's
Report to Congress.
Millions Accumulated by Selling Very Bad Gas at a
Very High Price.
The Beauty OF Having the People Where
Thcy Can't Help Themselves.

The following statement mrGe ens&worn
TO by tho treasurer of the Wasni.. ton Gas
light company in February, 1881, will be i'm
teresting reading to the people of Washington
who pay $1.75 per thousand, if paid promptly,
or So in case they are few days late, for
the privilege of being compelled to use as
villainous quality Of gas as was ever manu-
featured:
OFFICE. OF RIGGS & Co., WASHINGTON, d. G.,
Feb. 25, 1ssl-Hon. SAMUEL J. RANDALL Speaker
of the House OF Representatives-Str In accord
ence with the resolution OF the house OF repre-.
sentatives, dated Feb. TO- requiring the treasurer
OF the Washington Gaslight company TO furnish
certain information relative to said company,
have TO make the following statement:
said company was organized July ID, 1913, and
in the month Of January 1850, II paid per cent;
cash dividend, and the same In the month 9i
were paid, and none were paid in 1852. In Jan.
,ihry of 1853 89 per cent was paid, ana IN July N.Y.
wns paid and the same in July of that year. In
january 1855, 8 per cent. was paid. and the same
in July Of that year. In January, 1896 per cent.
was paid, and the same In July OF that year. IN
Japuary, 1857, 5 per cent. was paid, and the same
in July OF that year. In January, 1868, per cent
JANUARY, 1853, s per cent. was paid. and the same
in July of that year. In January, 1860 per cent.
was paid, and the same In July Of that year. In
January 1861, per cent. was paid, and the same
In July of that year. In january, 1902 per cent.
was paid and the same In July Of that year. In
January, 1868. per cent. was paid, and the same n
1864 or 1865.
In February, 1896 5 per cent was paid, and the
per cent. was paid, and the same in August Of
that year. In February 1868, per cent. was paid,
and the same In August OF that year. ,,,.
Up to this date the stockholders were without
dividends for four years, and the average divi-
dends paid for the nineteen years of the com
pany's existence, including the years of the late
76 ~
Nov. l. 1868, the cash cost OF the works ex-
ceeded 81 100000, while the capital stock was but
approved Mar "a, 1866, obtained the authority to
increase the capital stock to 81 100000, the di-
rectors at this time issued to each OF the ne @ then
as they then held. This was considered TO be
but just and right, as the earnings OF the com;
In increasing the value Of the works This issue
of stock was fully investigated before the passage
OF the act regulating gas works 5np approved Jnne
congress, first session)
In February, 1869, 8 per cent, was paid; 10 per
cent. was paid in May, and per cent. In August
of that year In February 1870, per cent was
paid, aud the same in August of that year. In
February, 1871, per cent. was paid per cent
was paid in April, and per cent. In August OF
paid 5 per cent was paid in May, and 5per cent,
was paid in August of that year. In February,
1873, per cent. Was paid; 10 per cent. was paid
in May, and per cent. was paid in August Of that
year. In February, 1874, 8 per cent was paid, and
February, 1876, 8 per cent. was paid per cent.
was paid in May, and 10 per cent. was paid in
august Of that In FsSsuSs SSs
and so per cent. was paid in October of that year.
In February, 1877, 8 per cent was paid; per
in August of that year. In February 1878, per
cent was paid, and 10 per cent. was paid In Au-
gust Of that year. IN February, 1879 per cent: .
cent was paid in August of that year. In Feb
ruary 1880, per cent. was paid; 5per cent. was
paid in June, and per cent. was paid in August
Of that year. In February, 1881, per cent was
paid.
S per cent No dividends Of sg stock SSd hayS
in cash.
The capital OF the company is as follows:
Capital stock, full paid ............. ST. 500 900
scrip stock ............-"s..........' $4,000
l,s78,5s5
The cash reserve OF the company Is 5000, 900.
and the cash on hand Feb TO- 1851. was sS3, 9l214.
Very respectfully your obedient servant.
CHARLES Q. GLOVER, Treasurer.
This statement by Mr.. Glover, sworn to as
il appears, contains much that must interest
the consumers of gas. 1t shows that Mr..
Bartol and his associates formed the WASH
ington Gaslight company in 1sis, with cash
capital of $500,000, under charter obtained
from congress- For the purpose of demon
strating how Mr.. Bartol has thriven at the
expense OF the gas consumers OF washington III
will be necessary to follow him step by step
through Mr.. Glover's statement:
Mr.. Bartol puts in originally in 1885,. 100000
Up to the year 1868, period oftwenty
years, Mr.. Bartol has drawn III divi-
ends the sum of...................... T22, 300
Orfi 1865 Mr.. Bartol gets an act of congress
errncreasing his capital to 81 100000, and
eli issues TO himself and colleagues
cd stock dividend in 1868 of............ 900, 900
s5Nn 1859 he pays himself and friends
u cash dividend of 20 per cent on his
u doubled up capital. tal.................... 100000
In 1870 another cash dividend l0per cent. 100000
In 1871 another cash dividend l5 per cent. 10000
In 1872 another cash dividend Is percent. 10000
In 1873 another cash dividend 20 percent. 100000
In 1874 another cash dividend 5b per cent. $4,000
In 1875 another cash dividend 10 per cent. 10000
Hin 1876 another cash dividend 65 per cent. $4,000
ain 1877 another cash dividend l5 per cent l50 900
tin 1878 another cash divident 10 percent. 10000
So that the S500,Oo0 invested by Mr. Bar
tol In the Washington Gaslight COM
pany has, In thirty years-lSiS-ls7S--
augmented to the round sum off,. A,l72, 500