The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-12-05
Gas Company Pleads
Before Commissioners
Continued from First Page)

the courts and get a judicial adjudica-
ton of the values Of their properties"
He referred to the report of Auditor
Payne under the courts direction, and
said that st was the intent of Congress
to have this matter adjudicated Dy fair
and impartial minds. Those who Will
not listen to idle public clamor or ex-
pressions Of private enmity, which pub
lie clamor has from time immemorial
been held by all honest men IN abso-
lutte contempt"
He informed the Commissioners that
II was not in the province Of any legis-
lature. state or National, to enforce
upon any public corporation rates which
give unreasonable returns upon their
property, and that in event such a thing
were attempted the stock holders would
but have to 90 to the courts and have
such an act declared unconstitutional
Inquiry Bound to Come.
a judicial INJURY IN regard to this
matter must come said Mr.. Perry.
.'one way or the other, and If it does
come in the effort to have conhscatory
legislation declared unconstitutional,
say that the citizens Of the District will
occupy a less favorable position before
the Supreme Court of the District than
they occupy today under existing con-
ditions. A corporation cannot be re-
quired TO use its property for the bene-
fit Of the public without receiving just
compensation for the services rendered
by it.
dertake TO stop this judicial inquiry.
which, as 1 have said, consider is made
at the invitation Of Congress and Whlcn
is TO cover the same field that the ulu-
mate inquiry must cover IL this Is pre-
vented. is. / think, question that re-
quires some reflection
Mr. Perry read at this point a number
OF court decisions touching upon the
relative return upon he valuation or
property, and said that his clients stood
upon the impregnable rocks OF the deci-
sions Of the courts OF the land.
No Effect on Future Rates.
THE popular hue and cry about this
matter seems to be that the gas com
money" he said.
What relevancy this has in itself TO
a proper valuation by the courts. II Is
difficult for me 20 see II it has made
too much money In the past, II has been
made legally and under the rates Of
Congress as from time 10 time enforced.
The surplus today Is just as much It's
property as anything else II has, and II
is not in the power of anybody 10 con-
fiscate IT,. How can the fact that the
companies in the past may nave made
too much money have any relevancy
20 the question OF what rates SHOULD
be paid tOday2'
Mr.. Perry said that because there
had been a large surplus the demand
seemed to be that the stockholders
should be punished by having their
property conhscated. The idea seems
10 be that a corporation should not ac-
cumulate a surplus and that II Il does II
has made too much money Mr.. Perry
cited a number OF ways in which il was
possible for a corporation TO amass a
large surplus, such as an increase in
value OF its buildings and lots through
the succeeding years.
He said that there had been a great
deal OF Misrepresentation TO the effect
that the increase in capital stock really
meant an increase In the price of gas
which. he said. was not consistent and
had no place whatever In the edjudlca-
ton Of the matter, as such was not con-
templated.
mcfarland Outlines Views.
Mr.. Macfarland rather significantly
outlined the position OF the Commission