The Washington herald., 1907-07-21

! According 10 formal notice given by
Justice Ashley NJ Gould in Equity Court
/ No. 2, the hearing of the Georgetown
Gaslight Company will begin with the
! presentation of testimony tomorrow up
on its application for permission TO in
crease its capital stock.
Unless postponement is asked for the
hearing will begin at 10 O'Clock and con-
tinue probably for two or three days.
For several weeks the Georgetown COM
pany has had appraisers at work upon its
property. listing and making an appraise-
ment of the real estate, machinery, gas
houses, mains, and other assets Of the
company. with a view to its presentation
TO the court. II was said yesterday that
though diligence in the matter had been
observed. all the evidence which the gas
cOmpanys attorneys desire to place before
the court has not yet been collated. II
was then thought that it might be iu1per-
ative TO ask for postponement Of the
hearing until the evidence could be made
ready.
1t transpired yesterday that Justice
Gould has given formal notice to the De
partment of Justice and to the District
Commissioners that both departments Of
the government would be entitled 20 be
represented at the hearing, and to present
testimony, If that is desired In pursuit
Of this notice. il is understood that United
States Attorney Stuart Mcnamara VIII
represent the government 10 safeguard
its interest, and pay particular attention
TO any attempt, should it be made, 20 in
troduce into the proceedings anything
looking toward comb nation Of interests
coming under the trust laws.
Counsel Thomas TO BE There,
The District Commissioners Will be rep
resented at the hearing by Corporation
Counsel Thomas The Commissioners. II
is understood. will not seek to present any
testimony. but will, through their attor-
ney, make a statement to the court. in
forming him that at the last session Of
Congress the municipal authorities re-
quested that the price OF gas be reduced
10 a point which wou!G insure a lower
price for the product and at the same
time give the company fair profit upon
the capitoi invested.
The Commissioners will further inform
the court that il is their intention 10
renew this request 20 the next Congress.
and work for the passage Of o law to
that end. The court will be asked not 70
grant the company any concessions which
Will interfere with the proper reduction
in the price of Illuminating gas. IN ac-
cordance with the request of the Com
missioners and an obvious public opinion
in favor Of such action
Financial Circles Interested.
Much interest centers in this hearing |
in financial circles. II is expected that |
the showing 10 be made in court By the |
company win be Of such a character as
20 leave the justice no alternative. except |
TO grant the petition. Ii Is further under |
stood that the granting of the decree will |
be Immediately followed by the issue OF /!
about 5000 shares OF stock 70 be taken by /
the shareholders in the proportion Of /
four shares OF TIE new stock 10 enc or |
the old.
The stock Of the Georgetown company
IS now selling around SIS. the par value of /
the shares being so each. Should the plan
Of an increase of stock be successful. the
LtHN u tllt lllldiicitAcs Is tll<tt N4e STOCK
will increase in price and become a valua-
ble asset
A far larger question also is associated
with this action Of the Georgetown Cas-
light Company. II successful, It will un-
doubtedly be followed by similar action
on the part OF the Washington Gaslight
two companies being to a
large extent one. 1t Is in the larger CAPT.
taEzation of the Washington Gasiight
Company that local financlers are princi-
pally interested.
Predict Higher Price.