The Washington herald., 1907-11-06

asset and The holdings Of the company.
by virtue Of which, it IS expected the
capital stock will be increased at any,
where from $5.00O.000 to 100000, il be
comes apparent that a very large-sized
melon is going to be cut.
Ynlue of the Plant.
The petition then continues:
THAT the actual cash value of the
plant owned by the petitioner and used
by il in the manufacture and distribu-
ton of gas in accordance with the pro-
visions OF the aforesaid acts Of Congress
is largely in excess of the aforesaid cap
italization OF $4,000
THAT by virtue Of section OF an
act of Congress entitled An act relating
to the sale of gas in the District OF Co
lumbia.' approved June 6. 1896 your pc
titioner is authorized and empowered 10
issue additional shares Of stock for the
purpose of increasing its capitalization
beyond the aforesaid amount of 5000 900
provided that the amount of new stock
so 10 be issued shall not exceed the
actual cash value OF the said plant and
the necessary cost OF future extensions
or enlargements OF said plant. and pro-
Vlded further that such cash value and
necessary cost of future extensions or
enlargements shall first be ascertained
and authorized upon petition therefor 10
/ the Supreme Court Of the District Of
Columbia, under such regulations as the
chief justice and justices thereof shall
prescribe.
That your petitioner desires to avail
Itself Of the authority granted 10 IL bv
the Aforesaid act, and in pursuance
ngT nfRF % t.
Der OF shares Of stock Of the par value
Of $50 each as in the aggregate, together
with the present outstanding issue of
$2,600.O0o shall not exceed the total value
OF its said plant and future extensions
and enlargements thereof.
hat in order TO provide for the nee
essary cost Of the said future extensions
or enlargements hsreinbefore referred TO
In paragraph II OF this petition, ,our pe-
utioner desires 20 issue such additional
number OF shares beyond the aforesaid
actual cash value Of its plant as shall be
sufficient TO defray the necessary cost of
said proposed future extensions and en-
largements specified in said paragraph
a."
Ask an Early Hearing.
The court will be asked by the petition
er's attorneys 70 fix an early date for
the taking Of testimony, and Corporation
Counsel Thomas and Assistant District
Attorney Mcnamara will avail themselves
or the provisions OF the act Of June. 1896.
TO see that the company furnishes com
prehensive information from its books
as 10 its operations for many years back.
This information will be ready before the
adjournment of the session OF Congress.
which begins in December next. and the
Committee ons the District Of Columbia
will have before it the sworn testimony
of the officers of the company, and the
experts that viii be summoned TO guide
it when IT is called upon 70 act on the
bill. which the Commissioners will for
ward to the Congress. recommending that
the price Of gas in the District shall be
eighty cents per thousand At this rate.
the Commissioners believe, in view OF
their Investigations into the production OF
gas. that the company will be able 10
make a good profit. and pay reasonable
dividends
The testimony taken in the case OF the
Georgetown Gas Company's petition FOR
an increase Of from Sl5O.000 to $500 900.
which was favorable reported upon by
Auditor Payne. will be forwarded to Con-
gress by the Commissioners with their
draft of the bill recommending eighty
cent gas.