Evening star., 1902-02-11
GAS COMPANIES MERGE
BILL FOR WAAHIRoToN TO BUY
aEoRaETOWNiCoMPANY.
Provisions of e, Measure Given in
Full-Nsv Stock to Be
ISSUED.

A bin authorizing The Washington Gas
Light Company totnurcaase the Georgetown
Gas Light Company. ana for the conversion
OF the assets OF The two companies into
stock, has been introduced in the House
by Mr.. Pearre Of Aaryland.
The bill provides: That in order that
Illuminating gas HAY Be furnished to the
citizens of the District Of Columbia at
uniform rate, the Washington Gas Light
Company, upon the assent Of a majority IN
value OF the stockholders. 10 hereby author
ICED to contract for. purchase, own. hold
and enjoy the whole: or any part OF the
Company, or is hereby authorized to con-
tract to purchase, or purchase, the prop
erty. including plant. distributing plant
rights effects and franchises OF the George
ment and delivery OF the consideration
agreed upon the same may be owned, held
and enjoyed by the Washington Gas Light
Company as fully and entirely as the same
were held and enjoyed by the Georgetown
Gas Light Company, and shall be man.
aged and controlled by the board OF direct
ors OF the Washington Gas Light Com
pany; and each such company is hereby
empowered to enter into such contract OF
sale, or sale through its board Of directors,
II the said contract Of sale. OF sale, has
received the approval Of majority in
value OF the stockholders Of said com
panies: and to enable the Washington Gas
Light Company to pay for the stock or the
purchase OF the Georgetown Gas Light
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 Com
pany, or of SO much as may be purchased.
such actual value to be determined by the
market price thereof at the date Of the
enactment of this bill: And provided fur
ther, That no action or proceeding to which
the Georgetown Gas Light Company may
be a party shall thereby abate, but the
same may be continued against said COM
pany unless the court in which said action
may be pending shall order the said Wash
ington Gas Light Company to be sutsti-
tuted as party thereto.
Sec. e That whenever a certificate shall
be filed with the recorder Of deeds OF the
District Of Columbia, signed and acknowl-
edged by majority OF the board OF direct
ors of each Of the corporations affected
thereby, showing that contract Of sale.
or sale. has been made and approved as
presumptive evidence of the facts therein
set forth. And thereupon and thereafter
the Washington Gas Light Company shall
furnish gas to all consumers In the District
same terms and conditions upon which 1t
furnishes gas to its own consumers under
the provisions Of existing law. And upon
the filing Of certificate of sale. as pro-
Gas Light Company may give notice and
shall then comply with all the provisions
Of the second section of the act approved
June 8, 1900 entitled "An act relating to
operating street railways in the District Of
Columbia II it desires to acquire the in
terest Of a dissenting stockholder.
Sec. s. That the Washington Gas Light
Company be. and It: Is hereby. authorized
from time to time to increase it's manufao-
turing and distributing plant as the needs
Of the District Of columbia may render
necessary. and for such purposes said COM
pany. after first obtaining the approval Of
the Commissioners, TOT the District Of CO.
lumbia, Is authorized to lay such mains
for gas In the streets, roads. avenues and
alleys in the District Of Columbia as may
be necessary: Provided, sThat the Commis-
sioners Of the District of Columbia may re-
quire said company to lay such mains in
ley in the District Of Columbia not already
provided Herewith as may be necessary.
Sec. 4. That the w Washington Gas Light
Company is hereby authorized. upon the
stockholders, expressed, by q resolution
passed by. a vote. Of at least; two-thirds
OF all the shares Of the stock OF the said
company at special meeting duly called
and held. to change the par value Of the
shares Of the capital stock from $50 to
500 per share: Provided. That In making
said change the new shares Of stock when
issued shall be allotted to the stockhold-
SAS "a odaN COHpAut Tdld dS luelE re-
spective holdings shall be shown by the
books of said company at the date OF is
sue 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 pro-
vided 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 ex-
ceed In par value the actual value OF all
the stock surrendered and Cancelled. as
hereinbefore provided. such actual value
to be determined by the average market
price thereof during the period Of three
months next preceding the special meet
Ing prescribed by this section.
Sec. 3. That tha Commissioners OF tho
District OF Columbia are authorized to re-
cover damages by appropriate actions in
any court OF the said District having juris-
diction in the premises for any injury to
pubic property caused by carelessness or
neglect on the part of the company In
laying or maintaining gas mains.
Sec, 9. That all acts or parts Of acts In
consistent with the provisions Of this act
are hereby repealed.
Sec. T. That Congress reserves the power
to alter. amend or repeal this act