Evening star., 1896-02-12

that the cost Of gas in the city Of Washing
ton and the District Of Columbia is $l.2o?
Mr.. McIlhenny-The price is s1.25.
Mr.. Sands-To those who pay within the
first ten days; otherwise $780,
Mr.. Hulick-There was no qualification In
the statement of Mr.. McIlhenny. l thought
he meant that absolutely.
Mr.. McIlhenny-The price Of gas here In
the city of Washington is $1.25.
Mr.. Hulick-The price you fix is $1.50 but
you discount for punctual payment, do you
not?
Mr. MeIlhenny-Yes.
Mr.. Hulick-I want to understand what
that means.
Mr.. McIlhenny-There are very few peo-
pie who are delinquents.
Mr.. Hulick-If they are delinquent, you
charge them $1.50?
Mr. McIlhenny-That is the penalty: II
they are delinquent, they pay $5O instead
Of $1.25.
MIR. Hulck-I had a notice Of that kind
served on me the other day.
Mr. McIlhenny-Every one who pays with
In ten days after the rendering OF the mi
is charged $1.25. 1t Is the custom all over
the country.
Mr.. Hulick-You do that to encourage
people to be punctual in their payments!
Mr.. McIlhenny-We consider S1.25 the price
of the gas.
The Law and Regulations.
Mr.. Hulick-But could your company not
charge $3.50 without making that reduc-
ton if it saw At under the law?
Mr.. MeIlhenny-Not If the people paid
within the ten days.
Mr. Hulick-Does not the law authorize
you to charge 1.50?
Mr.. McIlhenny-1f the Dill is not paio
within the limit.
charter?
tho rop111atiOn
Mr.. Hulick-That is a regulation Of the
company, but does 1t not say on the face
Of the ehSrssr your gas
Mr.. McIlhenny-No, sir.
The chairman-The last law on the stat-
ute books fixes it at $3.50.
Mr. Richardson-When was the last re-
duction made by law in the price of gas
in the District?
Mr. Sands-April IL, 1874
Mr. Harmer-What per cent OF your
consumers pay $3.50 for their gas?
Mr.. McIlhenny-About per cent Of them
pay $3.50. That, of course. would be
matter Of reference to the BOOKS. II Is
very small proportion of them.
Mr.. Dodge Answered.
Mr.. Dodge, the first speaker. comes here
and tells you that Congress Is holding the
people and the gas company Is robbing
them OF course he says he acQu1ts the
officers of any such charge as that. 1
| would just like to state to you that there
are 266OO gas consumers in this city. The
government and the District pay about
| $217 GOO for all the light they get here, and
| the people pay about s9O0.O0O altogether.
| About 1,GOO we will say, Of these people
| are large consumers, but the other $4,000
/ do not pay an average of over eight cents
| q night for the gas consumed In a year.
| If that Ia an extorticn, If that Is robbing
| people, I do not understand it. There is
! nothing that they buy in this District as
cheaply as they buy gas; 25,OOO Of these
| consumers out Of 26,GOO do rot pay over
| eight cents night for gas the year round
about $32 year.
| The stockholders of this company, too,
are nearly all in this District There are
| about $50 stockholders in the company.
| The large majority Of them are in the Dis
| trict or in the city of Washington, and they
| are small holders. 1t is true they have re-
ceiyed their returns for their money, fig
| ured upon the face value of the stock; but
| when you come to consider that nearly all
| those holders of stock have bought the
! stock at between 40 and so, they are moi
getting over four and a half or four pei pei
| cent / bought the stock that hold at so
| and realize out of q ten per cent dividend
| on it four per cent.
Al to Dividends.
The Chairman-What was the entire diyi
dend paid in 1895 out Of the earnings of tha
year?
Mr.. McIlhenny-I cannot tell. I thinl
there was an extra dividend paid, but ever
at the price at which bought my stock
would only be getting 10 per cent on it, ant
1t may be many years before there is an
other extra dividend.
The Chairman-Teu say there was al
i extra dividend paid?