The Washington times., 1902-02-12
Washington Concern to Abb
serb Georgetown Plant.
BILL OFFERED IN THE HOUSE.
Authorizes the Transfer Measure
Referred to the District Committee
-Pnssed Mt Inst Session by House,
but Failed In the senate.

| Pearre Of Maryland and referred TO the
District Committee. 1t is practically the
same Dill passed by the House the
! close of the last session of Congress.
but failed Of consideration in the Sem
/ ate owing to the delay of the appropria-
ton bills. some of which did not pass
1 until the closing hours of the Congress.
| Terms of the Bill.
| The bill is as follows:
| Be it enacted by the Senate ann House
OF Representatives. of the United States
OF America, in Congress assembled. That
IN order that Illuminating gas may be
furnished to the citizens of the District
OF Columbia at uniform rate. the Wash
ington Gaslight Company. upon the assent
OF a majority in value of the stockhold-
ers, IS hereby authorized to contract for.
purchase, own. hold. and enjoy the whole,
| OF any part OF the capital stock of the
Georgetown Gaslight Company, or is here
Dy authorized to contract to purchase. or
| purchase. the property including plant.
distributing plant. rights. effects, and
franchises of the Georgetown Gaslight
| company. and upon payment and delivery
/ or the consideration agreed upon the
| same may be owned. held. and enjoyed by
| the Washington Gaslight Company as
/ FULLY and entirely as the same were held
aud enjoyed by the Georgetown GasIipht
Company. and shall be managed and con-
trolled by the board of directors Of the
! Washington Gaslight Company; and each
such company is hereby empowered to en-
ter into such contract of sale, or sale.
through its board of directors IL the said
contract of sale, or sale, has received the
approval of a majority in value of the
stockholders of said companies; and TO
enable the Washington Gaslight Com
pany to pay for the stock or the purchase
OF the Georgetown Gaslight Company, it
is hereby authorized to issue at par a
sufficient amount of its capital stock
which amount of stock so issued may
equal in par value, but shall not exceed
in par value, the actual value of the
capital stock of the said Georgetown Gas
light Company, or of so much as may be
purchased, such actual value to be de-
termined by the market price thereof at
the date of the enactment of this bill:
And provided further, That no action or
proceeding to whict: the Georgetown Gas
light Company may be a party shall
thereby abate. but the same may be con-
tinued against said company unless the
court in which said action may be pend
ing shall order the said Washington Gas
light Company to be substituted as party
thereto.
Presumptive Evidence.
See. 2. That whenever a certificate shall
be fled with the Recorder of Deeds of the
District of Columbia, signed and acknowl-
edged by a majority of the board OF di-
rectors OF each of the corporations af-
fected thereby, showing that contract of
sale, or sale, has been made and approved
as herein provided, such certificates shall
be presumptive evidence of the facts
therein set forth. And thereupon and
thereafter the Washington Gaslight Com
pany shall furnish gas to all consumers
in the District of Columbia at the same
rate and upon the same terms and condi-
lions upon which it furnishes gas to its
own consumers under the provisions e
existing law. And upon the filing of
certificate Of sale. as provided for in this
section, the Washington Gasiight Com
pany may give notice and shall then com
ply with all the provisions of the second
section of the act approved June 3. 1900,
entitled AN act relating to certain rail-
way corporations owning or opera ting
street railways in the District of Column
bia,'' il it desires to acquire the interest
of a dissenting stockholder.
Sec. g. That the Washington Gaslight
Company be. and it is hereby, authorized
featuring and distributing plant as the
needs of the District of Columbia may
render necessary, and for such purposes
said company. after first obtaining the
approval of the Commissioners of the
District of Columbia, are authorized to
lay such mains for gas in the streets,
roads. avenues, and alleys in the Dis
trict of Columbia may be necessary:
Provided, That the Commissioners of the
District of Columbia may require said
company to lay such mains in any
graded street. highway. avenue, or alley
in the District of Columbia not already
provided Herewith as may be necessary.
To Charge for Value.
Sec. 4. That the Washington Gaslight
Company is hereby authorized, upon the
approval of two-thirds in value of its
expressed by a resolution
passed by vote of at least two-thirds
OF all the shares of the stock of the said
at a special meeting duly called
and held, to change the par value of the
shares of the capital stock from $40 to
800 per share: Provided, That in max
ing said change the new shares of stock
when issued shall be allotted to the
Of said company pro rata as
their respective holdings shall be shown
by the books of said company at the date
Of issue OF the stock so allotted. and
upon such terms as to the cancellation
and surrender of the old stock as the
said resolution shall specifically set forth
and provide: And provided further. That
the total amount of stock and necessary
scrip of said company authorized By this
section to be issued may equal in par
value, but shall not exceed in par value.
the actual value of all the stock surren-
iered and cancelled. as hereinbefore pro-
vided, such actual value to be determined
by the average market price thereof dur
ing the period of three months next pre-
ceding the special meeting prescribed by
this section.
Sec. >. That the Commissioners of tho
District of Columbia are authorized to
recover damages by appropriate actions
in any court of the said District having
jurisdiction in the premises for any in
jury to public property caused by care
lessness or neglect on the part Of the
company in laying or maintaining gas
mains.
Sec. 8. That all acts or parts Of acts
inconsistent with the provisions of this
act are hereby repealed.
Sec. I. That Congress reserves the poys
er to alter. amend. or repeal this act,
The bill will probably be taken up at
the meeting of the District Committee
tomorrow.