Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-02-01
The Proposed New Gas Company.
THE BILL AG REED UPON BY THE HOUSE DISTRICT CON-

AITTEE
The House committee on the District OF Column
Ola, at to-day's meeting, with only two dissenting
votes, chairman Neal and Mr.. HeilmanJ agreed
to report favorably the bill to incorporate the
United States Gas and Fuel company. The bill
was very materially amended, and Mr.. Barr was
ordered to draw up new bill In accordance with
the , amendments, and report the same favorably.
The 1ncorporators are Thomas Dolan, Hamilton
mock, John CasseII, VIM. NJ. sinserly. n W. Ellis,
The capital stock is fxed at one
million dollars, in shares of 800 each.
mittee require that the persons named In the fir
section OF this act, or majority OF them, shall
within thirty days from the passage Of this act at
ed by them, open books for subscription to the
capital stock of said corporation, after having
than hxo daily newspa pers the time and place OF
the opening or the books and shall take such sub
scrlptions to the capital stock may be Offered
until the whole shall be subscribed. An INSTALL
ment OF ten per cent on each share is required TO
be paid. Not less that forty per cent Shall be
reserved for subscriptions of bona fde CITIZENS
OF the District, who do not claim res dence else
where II not taken in five days after the opening
OF the books It may be taken by persons not resi-
AS soon 50 PER cent OF the capital stock is SUBJ
scribed and 10 per cent pad In the incorporates,
or majority OF them, shall call meeting OF u e
stockholders tor choosing directors. Not less Ia
one.tniri or the directors are required to resi-
dents OF the strict No stockhOlder, Officer or
empl0ye or the Washington Gas Company g III
either directly or indirectly become q stockh older
In the new CORPORAL on: nor shall the cor ura-
ton ever consCl ale with thew ashington Gas com.
pany; nor Shall The new rporali Ia eve .tcome
In any way interested in the plant OF The Wash
1ngton Gaslight company, its mains or pipes (tme
corporation herein named agreeing to establish
and maintain an Independent rival corporation
LOT the purpose OF giving the Inhabitants or the
Dlstrlct the best quality OF gas at q minimum
cost to the consumer). The corporators, before
they Shall attempt to exercise any OF the powers
OF the act shall enter into written obligation to
the Commissioners OF the District OF Columbia
with not less than two sureties In the sum of
100000. to be held and considered as uQuIdated
damages, that said corporation will not either di.
recty or Indirectly sell its franchise to or con-
SOlidate with any other gas company
established or to be established In the District OF
columbia. or purchase or become In any wise I'm.
terested In any plant or other property Of any
other gas company excepting such incOnseQuen.
tlal property as the Commissioners OF the District
may consent to being purchased; but that said
corporation will erect and operate Its works fnde.
pendent OF and as rival OF any other gas works
erected or to be erected In the District ANY VIC.
latlOn is TO subject said corporation to the pay.
tors OF the company fail Tor period OF six months
TO proceed with the erection or such works as may
De Necessary for the carrying out the purposes OF
this actor fail to maintain their works and actively
operate the same for period OF one year after
their erection, then the franchises conferred snail
be forfeited, and any other persons may avail
themselves OF the privileges by organizing ana
erecting and maintaining the works necessary to
carry out the purposes OF this act