Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-15

mcnts in force here.> and it may be worth
81 cents or 90 or 9J cents or 81. The ex-
perts do not agree on the same state OF
facts. am not an expert. and could
not know which of the experts seems to
be the best sustained in his conclusions
by the statements ma de-.
Favors Lower Price.
Representative Madden. Of Illinois re-
GREETED to see the committee report bill
for ninetycent gas.
Il hoped he said. that the committee
would see its way to report in favor of
much lower price. The cost of gas to the
consumers all over the country is being
lowered continually. and l think the price
provided in the bill introduced by me
some time ago of % cents was nearer
justice to the people who consume gas
than the price which Is sought to De
fixed in the bill reported by the COM
mttee
The company having the right to man
ufacture and sell gas in the District OF
Columbia has capitalization OF S2.6Oo.-
600. on which, according 10 its report. II
pays 10 per cent dividends. This COM
pany also has $2.6Oo.0OO OF interest-bear-
ing certificates, on which. l believe, per
cent interest is paid annually. In addi-
ton to that 1T has about $osS.OOO In oonos
on which it pays interest, and all of this
stock, bonds and certificates of 1ndeoteo-
ness have been created out of the earn-
IngS of the company.
NO very large amount OF cash was
ever invested in this enterprise. Inc
company, in addition to the payment or
this interest charge and these dividends.
sets aside a large amount OF money every
year-I have not the figures In my NINA
for depreciation of the plant, and also
sets aside large sum annually tor the
construction Of new mains and the extern
sion of the plant.
"A company that is able to build addi-
tional facilities to enable 1t to supply ao-
ditional consumers out OF the earnings
after paving dividends at the rate OF ~
per cent on the stock that is quoted In the
maket at 81 for a twenty-doilar snare
ought to be able to sell gas at a. cents
Recomm;tment Is Desired.
Representative Mcmillan OF New York,
member OF the District committee,
moved that the bill be recommitted for
further consideration.
Before this bill is passed upon said
he because of the differences in opinion
and of the different issues that have been
raised by men who are deeply interested
in the burning of gas. commodity To-
day that furnishes light, heat and fuel
to the home of everybody, rich and poor.
the matter should be well considered
There is no man here today on this moor
who can say that the expert examina-
ton was made by men fully qualif1ed as
experts. .
BECAUSE of this fact I shall move that
this bill be recommitted to the commit
tee. The real issue is the cost of the
production and the cost to the consumer.
This city should be the mother influence
that goes over the whole country and
should name the price, not only In WASH
ington, but in New York and Chicago
and in every city in our Union
LET us have the best experts; let us
have men worthy of being called experts
~ OF how "A
this issue inteliigently investigated by
men who are fit to do so. move that
this bill be referred back to the COM
mittee.''
This motion was voted down. There
upon Representative Fitzgerald Of New
York moved that the price be fixed at
s. cents. which was done by the prevt-
ousy mentioned vote. The bill was then
passed.
Other District Measures Passed.