The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1897-10-28

PROFITS WHICH CoRpOR .T1ON
GIVEN By LAW A MONOPOLY In a
great and growing c.y. Including among
Its customers the tmlted States govern
ment, should be rcr:;iltted 10 earn from
the sale of commodity Ia suc'l general
use ms to he considered a necessity to the
poprlnr co'rfor, Six per cent IL consid-
cred q g;.6 III 'ci'd - hose ;ir,cs. This
sompahy rrr.e,', as has b"cn stated, liz
pc: cent last year upon It's $2,O00,00O Of
capital
Valued ut &5, 900, OOO-NfcLoan's Testimony
AS to the real value of the plant of
the Washington Gas company, Of
which Mr. Mclean owns the controlling
interest, late official report to the
senate. made by Senator Hunton, a
member Of l-r. McLean's own party,
eaid:
"Your committee found from the in
formation aad evidence before them
that the present plant Of this company
is estimated to be worth from $4,000,-
900 to $5,O0o.COO
Here is what President John r. Nc
Lean himself said regarding the value
of his monopoly in the District of CO.
lumbia which he now seeks to protect
and foster by becoming member Of
the senate, which legslates on all mat
ters pertaining to the District. The
testimony was given before commit
tee of the house Of representatives in
1894, Mr.. Mclean appearing and testi-
flying as the president of the company;
The Chairman--You spoke of the capital.
ization of the gas company being s2,000,O00.
That capitalization, suppose, is all that
the law allows at the present time
Mr.. McLean--Yes. sir; that is our limit.
The Chairman--Has not that expenditure
which has been necessary to procure facil-
tiles for giving gas to city Of this size
been increased until the property would
represent larger capitalization than $2,.
100000?
Mr. McLean-Two million. dollars does not
now represent the capital invested.
The Chai.1nan--it occurred to me that
S20Oo,0co for property OF that kind would
be too small.
Mr.. MeLea!l--T'.,at was the original limit
OF course, it has far exceeded that now.
1t Is away beyond that.
What iir. NcLcln Attempts to Conceal.
Speaking of Mr.. McLean's testimony
before cor 1ress on the value and divi-
dend-payi:.g qualities of his Washing
ton moror ~. here is curious incl
dent. Il Ja-uary, 1894, he stated in a
letter t. congress that "the amount of
dividend usually paid is per cent
semi-alnua.ly on the par value of the
stock" Yet in March Of the same year
Thomas G. Lansden. for many years
an officer Of the company, testified that
a dividend of 25 per cent was paid in
tne sp.i: = g 1898, the very year follow
ing tina; y which Mr.. Mclean became
president Ct the company, and only
one year prior to the date in which he
informed t,'e cr---.:l1ittee that the semi
annual d.v.,.slGs were usually" per
cent, ca-efu.!y omitting to mention the
25 per cent Of the preceding year, with
which he celebrated his advent as
president ct the company.
A Well Known Citizen of Ohio Speaks.
Not only Go the citizens Of Washing
ton and the government officials feel
that they have right to complain of
the prices which they are compelled
to pay to Mr.. McLean's monopoly,
which charges them from 10 to 25 per
cent more than many citizens Of Ohio
pay for gas, but they also complain
very seriously of the quality of the gas
furnished them, although they are en-
tirely unable to protect themselves or
to bring about any improvement or
obtain their service bya other meth
cd. These complaints are frequent and
vigorous. and are made from year to
year to congress, for whose control
have been adopted the peculiar and de-
vious methods outlined in the preced-
ing section of lhis' article. That the
service which this monopoly and
wealthy corporation furnishes to the
helpless people of Washington and to
the government Is liable to broad crit
icism is shown by the testimony pre-
sented by one Of the investigations be-
fore cong c-'ess in 1895, q portion Of IL
being from well known citizen of
Ohio ard a nc -,ber of congress, Hon.
]. II. Cultivate. In his testimony be-
fore thc committee he said:
During las. fail when was here in my
house | frequently found In the evening
that II was impossible to read or write with
the light from IN ordinary gas burner three
Ieet above my mead throwing Its light on
the table, After my family came In No.
vember ! noticed the light was bad In diff
ferent parts of the house, and that upon
more than one occasion with two burners
| 1t was !aipos s.ble for US to see to read or
| write ! called the attention of the gas
| company to the fact. and thu company sent
one or two men TO the house. They claimed
| that there WAS something wrong with the
| pipes. ! belieye they blew out the pipes
| Within day or two after that l noticed
| the light was ns bad as before. called
| their attention 70 !; again, and man con.
| nected with the works was sent up. He
| said In the course OF 4 conversation I had
| with him thar there was a general COM
| plaint all through that region Of the city,
and gave some explanation Of It, 1t went
| on that way sometimes with light suffi-
cient to see by and sometimes not. There
| upon ! introduced ;.i resolution. After
| that the gas for tha reyt two or three
| evenings WIS ample. and there was no
| cuusp lar coir1loint A all