The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-04-09
Prof. BemiS' Demonstration.

often that so complete and convincing case made up
that which Prof Edward W. Bems presented the District of Co.
legislation
Prof Bem study the Washington situation ex
planned to the committee:
That the Gas Monopoly of Washington by its own annual
report for 1907 demonstrates that able per dv
dend, and still sell gas 50 cents per 1000 feet
That the gas initiation act of 1896 originally bad measure
has been construed to make it still worse.
s. That nothing less than quick repeal of that will
guard against a big initiation Of capital
That the present capital of the Gas Companies mainly consists
of capitalized profits
That this recapazaon surplus profits is not per-
md in progressive communities of this country Europe because
it recognized as contrary to public policy
That there need of thorough and detailed investigation of
Inc accounts OF the Gas Monopoly by skilled accountants and of its
plant by the best engineers order ntelgny determine COM
pensatory and reasonable price for gas
That the practical way accomplish this is to pass say IS
8Oent gas BILL let inquiry by courts in case the
Gas Monopoly appeals from the law.
Prof Bem analysed with searching effectiveness annual re-
port of the Washington Gas Light Company Congress- 1907
That report The repeatedly pointed out is prepared for
the purpose rather of Coneang than of displaying condition of
the company Only the hands of expert the ways
such could have been Illuminating informative
it became under the glass OF Prof, BemiS
The expert showed the gas company reported o. cents per
1000 operating OF gas Then he showed paying
per cent on its STOCK per its probably illegal certificates
Indebtedness and interest of its bonds the company had so
much money left that it invested $4,000 surplus in extern
sonS of plant This $4,000 represented per the
stock of the company also represented pei 1000 feet
OF the copanyS entire output To this extent then the 81 price
clearly excessive.
Beyond this, Prof Bemis pointed other items the report
which he showed charged high figure these
legal expenses which about twice high in other companies
Perhaps Prof Bem does the company injustice regard
ought to pay we'll for having corps of lawyers all of whom could
be conveniently sick at such oppoune time and thus secure
lay when delay the only hope of the company Anyhow whether
they paid for being conveniently something else the Gas
Monopoy lawyers cost than twice much gas law
yeS cost
Leakage, Prof Bemis points about twice much in
Washington ought to- rather, charged much
a Woud make further reduction in this item Finally the COM
pany makes the pay the interest his deposit getting
turned charging this to operative This clearly wrong
Altogether from these four items Prof Bems made UP total Of i8
cents Of clearly excessive charge per feet gas showing that on
its statement the company proves 81 maximum reason
able selling price.
Prot. BemE made splendid impression before committee
and his talk most convincing and effective He has arranged TO
return Washington there is further his engten
men of the subject The Washington Times the arrange
men for securing his services reasonable notice such appear
hoped that in the future the legislation will have
passed the House. and be ready for the consideration of the Senate
In Prof Bem will he requested appear before the Senate
Committee, provided the committee will give opportunity for hear
ing