Evening star., 1896-03-18

Of this board are hereby requested and in
structed to take immediate action to the
same end.
-. Resolved. That the said committee be
further instructed to use its best efforts to-
ward securing the reduction in the Price Of
tricity for power provided for by the amend
ment to the District Of Columbia appropri-
auon Dill adopted oy the House of Rerre-
sentatiyes nj on February !. 1895
OF trade be-, and 1T is hereby instructed to,
prepare and place before Congress a bill
providing for the condemnation of the
plants OF the Washington Gas Light Com
pany. the electric lighting companies and
the Georgetown Gas Light Company, and
also providing for the raising Of sufficient
money to pay therefor, and for the con-
duct hereafter Of the lighting business by
the District of Columbia"
Referring to the report of this special
committee Mr.. Ralston said that he did
not wish to be understood as holding that
81 Is fair and just price for gas. Ex-
gas can be furnished at the mouth of the
burner at a cost of So cents per thousand
II that is SO IS cents. or 20 cents at the
outside. e would be a Very fair selling price
Tor gas In this city. The argument that
coal is much more expensive here than 1t
is In Philadelphia has been iterated and
reiterated until 1t has come to have some
weight in certain quarters In point of
fact, the argument is scarcely worth con.
sideration. To prove his point Mr. Raj
ston quoted figures to show that the differ
ence In the price Of coal in the two cities
does not warrant q difference of more
tnaE one or two cents thousand.
First Resolution Debated.
To bring the matter up for discussion
Mr.. Ralston moved the adoption of the
first resolution, indorsng the so-called
dollar gas BILL 1t was seconded by Mr.
Dodge.
Mr.. c. c. Lancaster said that he was in
favor of cheap gas, of course. but. as a
member Of the board of trade, he was op-
posed to any hasty action on such an i'm
portant matter as this. 1t would affect one
OF the most important business interests
In the District and he thought more con-
sioeration ought to be shown to those who
company, to those who have borrowed
money on the stock and the banks which
nave loaned money on the stock But vet
ne old not want to be construed as speak
Ing Tor the gas company corporation
Even as 1t is competition is stronger than
1t ever was before. The electric ligh, COM
pany is driving it to the wall and Will,
continue to do so. He was in favor of
cheaper gas, but he did not think the COM
pany could stand a reduction of - cents
a thousand unless it was given some time
IN which to recover from the shock. He
thought the best way to do was to COM
innocent stockholders would not be teop-
ardized. He suggested that the price of
gas ought to he reduced 10 cents the first
year, cents the second, and SO on, until
IL comes to 81 If this were done the COM
pany could meet the changed condition of
a11alrs without such great inconvenience
personally he was willing to pay the pres
ent price II only the quality of the gas
were what 1t ought to be, but he did think
1t was folly to do anything that would
tend 20 depreciate the value Of a standard
stock at time when real estate is low
ana railroads are going to pieces" At the
rate things are going there will soon be
no way for a man to invest his savings
In conclusion. Mr.. Lancaster Introduced
as a substitute for the committees recon-
mendation resolution embodying his
the price Of gas.
Mr.. Harries antagonized Mr.. Lancaster's
position, and argued strongly in favor of
the dollar gas bill" He admitted that if
the bill were passed it might affect the
market price of gas stock, but he did not
think that was the most important question
involved. The interests of the community
generally We're more deserving Of consider
alton. He did not take much stock in
the 1cea that the gas company has suffer
ed materially from competition, though he
admitted that 1t was true that some peo-
pie ha 4 abandoned gas and We're using elec-
tricity instead.
Mr.. Harries compared the present situa-
ton to the time when there was an outcry
over the proposition to have railroad trains
take the place of stage coaches. He re-
ran up against the famous inventor
DO You really expect to go at such an
outrageous speed twelve miles an
hour?"
Il hope We may"
But suppose a cow should get in front
OF the engine?"
''Weel, then,' said Stevenson, thought
fully, 80 much the waur for the coo''
A nla fr Cow .
the resolution, referring especially to the
fact that the original stock of the COM
pany only amounted to S5uOOOO. and this
nad been watered up to $2.oU,OO0
Mr.. Paris Position.
MIR. A. X. Paris, who prefaced his re-
marks with the statement that he was not
interested in the company to the extent of
penny, took the position that 1t was out
of the province of the board of trade to
deal with such a question at ALL He
thought 1t was no more their business to
dictate in such an arbitrary manner the
price of gas than it was to interfere with
the methods of bank or trust company
II they went in for such matters as this
they would soon find themselves swamped
with resolutions on every possible subject
MI George E. Emmons, who also made 1t
very clear that he was not financially in
terested in the company, made a heated
speech Qeprccatfng any haSty action by
the board of trade that would affec. the
status of the gas company. 1t had been
said that the stock of the company had
been watered considerably. That might be
true, Mr.. Emmons said, but he would re-
mind them that there wera gentlemen with
in the sound of his voice who had watered
their stocks 800 per cent and more and
still were not satisfied. He was in favor
OF compromise, If tie board insisted upon
gong into the matter at all. This would
enable the company to accommodate itself
TO the new conditions. La conclusion, Mr..
Emmons warned his hearers that if they
continued in the direction they were going
and sought to cripple such a representa-
tive enterprise as the gas company it would
be but the entering wedge. He bade them
beware lest in attacking this company they
should wound others nearer and dearer 20
them personally.
Mr.. Siddons pointed out the mistake that
Mr.. Emrnons had made in confusing pr-
yate enterprises with a quasi public enter
prise such as gas company. 1t was alb
surd to say that 1t was out of the province
OF the board to deal with the affairs of a
company which enjoyed such valuable
rights and privileges at the hands of the
community, making no returns therefor.
Mr.. Emmons said that he did not he
lieve and he did not think any member of
the board believed, that gas could be man
ufactured at 56 cents DER thousand
Mr. Emmons claims too much in his
argument for the cOmDany' renjied Mr.