Evening star., 1907-11-05

time. in amendment of the act of incor-
poration of the Washington Gas Light Com
pany under which its capital stock was
increased. under the last of which acts,
entitled AN act to increase the capital
stock and to extend the works of the
Washington Gas Light Company. approved
May -. 1872. the capital stock was in
creased by the sum of $1.00oO0. and that
by virtue of section 5 of an act of Con-
gress entitled An act relating to the sale
of gas In the District of Columbia ap-
proved June 6. 1895, the capital stock
was further increased by the sum of $780,
600, the petition states:
Present Volume of Capital.
THAT at the date of the fling of this
petition and long prior thereto the total
amount of said capital stock issued and
outstanding Is, and was. as aforesaid,
81 coo, ,0o0 divided into 10000 shares of the
par value of $40 each.
THAT your petitioner has outstanding,
issued under authority of law. and paya BILE
partly in the year 1927 and partly in the
year 1929. s6O0000, face value of bonds
which origina ly bore interest at the rate
OF per centu9 per annum. but which
rate has been. by val agreement with
the holders of said bonds, reduced to per
centum per annum.
That your petitioner also has outstand-
Ing certificates of indebtedness amounting
to S,60,O0 face value. issued in the year
lS!It bearing interest at the rate of per
centum per annum. and payable twenty
years after date. with the option on the
part of your petitioner to anticipate saio
payment at any time subsequent to five
years after said date
That IN addition to the said indebted
ness, your petitioner owes a floating in
600. '
Requirements Of Business.
That the needs of your petitioner bust
ness require that in the immediate future
1t shall construct extensions or enlarge
ments of it's said pant. by adding thereto
gasholders, by extending it's work at the
east station and by laying such additional
mains as will meet the requirements of
the District commissioners and the neces-
stiles of the company's business at a
necessary cost of at least $3.50, 900.
That the actual cash value of the plant
owned by the petitioner and used by it
In the manufacture and distribution of
gas In accordance with the provisions of
the aforesaid acts of Congress is Largely
In excess of the aforesaid capitalizatio
of 5000
That by virtue of section of an act
OF Congress entitled An act relating to
the sale of gas in the District of Column
bia,' approved June g, 1896, your petitioner
ditional shares of stock for the purpose
OF Increasing Its capitalization beyond the
aforesaid amount of S1,6al,00o, provided
that the amount of new sock to be is
sued sha! not exceed the actual cash
value of the sa ID plant and the necessary
cost Of future extens. ons or engagements
of said plant, and provided further that
such cash value and necessary cost of
future extensions or eniaigem ms shall
first be aseersa.ncd and authorized u?ol
npfitjon therefor tD tho Cuni. f'rlrr of
the District OF Columbia. under such reg
ulations the chief justice and justices
thereof shall prescribe.
Purpose of the Company.
THAT your petitioner desires to avail
itself of the authority granted to it by the
aforesaid act and in pursuance thereof
to now issue such additional number of
shares of stock of the par value of
twenty dollars each as in the aggregate,
together with the pres ant outstanding
issue of $2,e030G60, shall not exceed the
total value of it's said plant and future
extensions and enlargements thereof.
THAT In order to provide for the nee
esSary cost of the said future extensions
or enlargements hereinbefore referred to
in paragraph IA of this petition, your pc
titioner desires to issue such additional
number of shares beyond the aforesaid ac-
tual 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
H.