Norwich bulletin., 1909-05-31
PUBLIC UTILITIES HEARINGS.

of the public utilities bill or whether if must be enacted into law in some form to meet the demands of the peo- pie, must be determined at the three hearings upon this important measure slated for this week.
 Hearings on special subjects con- nected with the public utilities bill have been assigned by the special committee to which the bill was re- fsrred as ,foliowsi
 Tuesday, June 1, ?. m.: As to oontros of finances of public service corporations
 "Wednesday, June 2, 2 p. m.: As to control of rates of public service cor porations.
 Thursday, June 8, 3 p. m.: As to control of management and operation of public service corporations.
 It is current rumor that the special of a measure. The character of the bin to be reported will largely depend upon the facts and opinions presented at these hearings. It is consequently of the utmost importance that every person interested in any form of a public utilities bii be present at these hearings and give the committee per- tinent information concerning local conditions. The members of the com mittee necessarily can have no knowl- edge of local affairs except such as is furnished them at these hearings.
 It is the duty of every public spir- fled cttixen interested in the honest issue of securities by public service corporations to be present at the hear ing on Tuesday. The need of some legislation is attssted by the history of the Connecticut Railway & Light ing Co, and of the Shore Line Elec- trio Railway Co.,, among others. The bf1I recommended by the temporary commission provided that public serv- ico corporations should issue securities for fu1l value only; that stock should be issued for not less than it's par value, and bonds for not less than market value. These provisions would stop the present evil practice of build ing trolleys and establishing lighting plants on the proceeds of bond is- sues. and then compelling the public to pay dividends on stock given to promoters as q bonus.
 The bill recommended also provided that the proposed commission might audit the accounts of these corpora tions when necessary, or when re- quested by twenty-five per cent. of the stockholders. This would prevent the misuse of stockholders funds by un- sorupulous arrangements. Similar powers are given the insurance con- missionar and bank examiners in con- nection with insurance companies. savings banks, banks and trust com paniss.
 IL is din1euIt to understand why 1t should require so much effort to ob- tain such apparently desirable legisla- tion; yet it is clear that a very sub stantial effort will be necessary if current reports are to be credited. We accordingly hope and believe that many of the public-spirited citizens of this state will be present at the hear ing on Tuesday. to point out to the committee the evils which have re- suited from over capitalization in this state. and to urge reasonable and sane legislation which shall protect the small investors and the public which pays ths bills.
 Everyone who is dissatisfied with the charges made by any public serv- ice corporation in Connecticut should state his grievance to the committee on Wednesday. If there are no com paints the committee will properly conclude that there is no need of any legislation in reference to rates, and that the numerous bills which are pre- scented to every general assembly for the regulation of trolley fares or charges of lighting companies are without foundation. But if the com. piaints presented on Wednesday are sufficiently numerous and well found ed we may reasonably expect some effective action to be taken by the present general assembly.
 The hearing on Thursday will be devoted to those who believe that the service rendered by public service cor porations could be improved or the public safety increased by effective legislation and supervision.
 It is seldom that so good an oppor- tunity is offered to the people to be heard on questions of such paramount importance. The opportunity should not be lost. All public spirited citizens should attend these hearings and should assist the committee by giving 1t all possible information concerning local conditions which may be in any manner pertinent to the questions be- fare fh0