Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-23
ONE DOLLAR ENOUGH
The House Committee Thinks Gas
Is Too Expensive Here.
LITTLE FAULT WITH QUALITY
The Report in Full of the Investi.
cation Into Lighting.
SIEVE RAJ RECOMMENDATIONS


The House District committee today sub
United q report upon the results of the re-
cent gas investigation and to accompany
the bill which the committee has prepared
reducing the price of gas to 81 per thou
sand. The report says:
The committee on the District Of Co
lumbta, acting under authority of House
resolution have made the investigation
therein directed. and respectfully submit
the following report:
In response to the first subdivision of the
resolution referred to directing the COM
mittee Ito investigate the workings Of said
company" etc. We have to submit that We
hnd that the Washington Gas Light Com
pany was chartered by Congress In the
year 1913: that the company now has Pts
miles of street main, ranging in size from
twenty-four inches down; that about eigh-
Teen miles or main We're laid last year,
mostly Tor extensions to the suburban Ste
lions, and that about eighteen miles of pipe
Tor mains have been purchased for use dur
ing the present year-largely to be used in
substitution of larger mains in the thickly
settled districts of the city for those which
now prove to be too small to accommodate
the demand made upon them. The number
OF consumers is stated by the superin-
tendent OF the con- any to be about 81, 900,
and that its original capital stock was $780,
OOO; that the amount of stock has been in
creased from time to time by various acts
or Congress until it is now 100000 that
IN ADDITION to said stock the company has
issued bonds, which are row outstanding.
Tor sGoo,oO0. and certificates of indebt edness
Tor an equal amount, so that the total
amount of capitalization Of said company.
as shown by said stocks and bonds and
certificates, is now 81, 20C, 600
Financial Summary.
Your committee find that of the capital
stock of the company 81 500 represents a
bonus given with the stock in 1919: that
100000 increase of stock under the act of
May "a, 1856, represents earnings of the
company or dividends. though such earn
lngs seem to have been largely used or in
vested in the extension and improvement
or the works; that the $500 900 of certifi-
Gates OF Indebtedness were distributed to
stockhoiders, ana also represent earnings
or dividends, though the amount seems to
have been used in the extension of the
plant.
Your committee. OIL examination into the
affairs of the company for the five years
from 1889 to 1893, inclusive, also find that
during that time the company have invest
ed or Its net earnings in extensions of its
works or plant. in addition to the other
amounts: In 1889. s165. 500 Sc; in 1890, s07,-
O3012; in 1891, $1S,lO9.O3; in 1892. sll2-
525 Do in 1898, $S9, 500
On the capital stock an annual dividend
OF ~ per cent on par value is reg Ilarly
paid, and interest at the rate of per
cent per annum Is paid on the bonds and
certificates of Indebtedness. Your COM
mittee find that additional dividends have
from time to time been paid on the stock
and that there is now in the hands of the
company Cndistributed earnings amount
ing to S2SO,OO0. invested as follows: $50 GOO
in Metropolitan railway bonds, $4,000 In
Louisville and Nashville Southern bonds
and $4,000 in United States per cen,
bonds