Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-10

lation should be rushed through withou,
giving the gas company a chance to show
just what 1t costs them to make and dis
tribuate the gas and what the lowest price
Is they can sell 1t for.
rigid investigation into the methods OF
the Washington Gas Company by the Com
mlssloners was suggested by A. F. Ker-
nan OF the Brookland Citizens Association
lie severely scored the secret methods OF
the company, and declared that the Com
m1ssioners should be given power to force
an pubic corporations in the District into
giving accurate and truthful publicity to
their conduct and business.
Finances Again Discussed.
Mr.. West again questioned Mr.. Goldsbor-
ough regarding the finances of the COM
pany, saying that the Commissioners are
anxious to get this point accurately settled
before taking any action.
Did not your company, when it in
creased its capital stock, give to the stock
holders, for which they did not pay cash.
certain certificates, such as might be called
purely watering of the capital stock?'
NO, Sir, replied the attorney
What is the dividend rate of the stock ?''
asked Mr. West.
len per cent on par value of 500 a
share. This would be 80 cents quarterly. or
81 annually per share" Mr.. Goldsborough
replied.
Representing the Brghtwood Citizens
Association Mr.. Wilton j. Lambert said
he favored cheaper gas. Lut deemed it un-
wise for the citizens and the Commission
ers 10 Jump into this question without CIV
ing II thorough investigation and learn
ing accurately whether or not the reduc-
ton can be made, giving the gas company
a reasonable and just profit.
Regarded as Unfair.
Chaplin Brown. the next speaker, also op-
posed nasty action. ITO reduce the price
OF gas from 81 to IS cents" he said lis
not lair, as 1t means a cutting of exactly
one-quarter of the companys profits, and
thlnk any intelligent man will agree that
no matter how rich or prosperous a cor
poration Is, a cut of % cents in their gross
pronts would mean disaster or failure. We
should be reasonable. If they can by any
report show that they cannot afford to
make gas cheap enough to furnish it at
10 cents, then We should strenuously onnosa
this measure, but if on the other hand the
reduction will leave the company a fair
margin, then advocate the enactment of
!he measure and give the citizens of WASH
lnSton the benefit Of the reduction"
oonn H. Brlnkman, president of the Com
tral LABOR Union of the District, said his
association would take no action unon this
matter until they are we'll acquainted with
.Ie various facts pertaining to the meth
GUS ana condition Of the company and
That he was only present to seek fnforma-
tlon. lie said he was sure the 25 600 men
whom he spoke for are eager for cheaner
gas out II 1t meant a reduction in the sal
dries oI any or the members who might
happen to be in the employ of the pas com.
pany they did not want it.
Opposed to Secrecy.
w. K. Turton Of 1907 K street northwest
said that the gas company should not he
allowed ito keep its business methods and
financial condition secret He suggested
lnEeStlPa I'M
MS address by saying he was in favor of
the proposed bill and hoped the Commits
sioners would approve it and help in its
enactment
w. Riley Decide, president of the George
town Gas Light Company, was present at
the nearing, but when asked by the Com
missioners if he cared to make any state
ment thanked them and said he was only
there as an attentive listener
commissioner West read a letter from,
the acting secretary of the gas companv
saying that he was sick and unable to he
present at the hearing to furnish the Conn
,Illssiohers with such data as was requested
by them pertaining to the running of the
gas company.
Mr. West then said that after consult
ing with the assessor of the District he
.ouhd that the real estate owned by the
gas company is assessed by the District
at $1,641, S41, and that S24627 is paid by
the company to the District for taxes. The
market value of this property, the Com
missioner explained would be about So
$50, 900.
Others who spoke in advocacy of the
measure were Judge Charles F. Bundy of
the Columbia Heights Citizens Associa-
ton, w: A. H. Church of the South Wash
ngton Citizens Association, W. j. Howard
Of the Petworth Citizens Association. Chas
Linkins of the Business Mems Association
and W. F. GUIDE of the same association.
Announcing that the various addresses
would be taken into consideration by the
Commissioners and that other data per-
tanning to the gas company would be So
icited by them, the Commissioners brought
the hearing to a close.