The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1909-02-26
CHAMBER HEARS
MUCH ABOUT GAS
Votes to Recommit Report OF
It's Committee.
WOULD AVOID HAsTY ACTION
Officials of Corporation, Brokers,
and Financiers Prominent In the
Gathering = Discussion Goes Far
AfeId, but Is Fair to All Con-
cerned-Nuch Interest shown.

Much interest developed in the discus
sion Of the gas question at the special
meeting of the Chamber Of Commerce
held last night to act upon the report
submitted By the committee on law legis-
lation. The action taken was to recon-
nit the report for further investigation
and the framing OF a written report TO be
submitted 10 the chamber at the regular
meeting in November. The motion TO re-
commit also carried authority for the
committee TO hold hearings and employ a
stenographer.
The report submitted by the COMMITTEES
was based upon a hearing held by the
subcommittee on utilities. at which R. H.
Goldsborough appeared for the gas com
pany and Allen D. Albert and ]. c. Wei
liver in opposition. The report in sub
stance Is adverse 70 the Senate amend
ments 10 the House bill. and recommends
the approval Of the original House bill.
with a suggested amendment that the
price OF gas be reduced at once to s. cents
per 1.0o0 feet. and that after September l.
next year. the amount Of monoxide con-
tanned in the gas shall not exceed 10 per
cent
what Legislation Proposes.
The report contained the following
statement relative 20 the kind OF legis-
Iation proposed IN the Senate amend
ments TO the House bill:
The act passing the House provided
for q reduction OF the price OF gas 10 s.
cents per thousand. The GaIlinger amend
ment allows a reduction TO a price not
exceeding 30 cents thousand, fixing the
test at 25-candle power. and providing
that after September the gas sold shall
not contain more than 10 per centum of
carbon mOnoxide gas.
The more important part Of the bill
looks 70 an increase Of the capital stock
from S2.600.009 as al present. TO an amount
left at least ambiguous under the Ian
guage Of the bill. but certainly not less
than Sl0,00000o. possibly Sl2,6o0,Oe0. or even
upward. 50 far as the Washington Gas
light Company IS concerned The bill also
empowers either the Georgetown Gaslight
Company or the Washington Gaslight
Company 20 purchase. own, and utilize
IN its own business IN the msuufactu
Of gas coal lands. wherever situate, and
any other sources OF supply Of raw mate
rails used in manufacturing its product
or its by-Producjs."
Company Would Increase stock.
The report calls attention 10 other pro-
visions and TO the avoweG purpose Of
the company 10 increase the capital stock
upon the basis OF the appraised value o:
the franchise Upon this phase Of the
subject the report says:
Your subcommittee does not believe
that franchise value should be capitalized.
IN its nature II IS a monopoly value.
a monopoly created by the whole people.
and therefore Of value which should go
directly 10 the benefit OF the whole people
in one form OF another. So far is {;
from being real thing properly belong
ing to private individuals that the govern
ment may at any moment utterly destroy
if without compensation by the building
OF its own plant and the carrying on OF
the function Of gas supply through its
own officials OF may injure It by charter
ing competing companies to operate over
al or a part o. the same field. II. how
ever. Congress deliberately sanctions such
an Increased capitalization. il may here
after plausibly be urged that, in the event
Of any attempt 20 reduce the price OF
gas. such reduction will take away the
dividends 10 which the stockholders are
entitled. and therefore destroy the value
Of their supposed investment. It is not.
however. the purpose Of the committee.
nor is II necessary at this time, TO discuss
the subject from q broad viewpoint
Nr. RaIStoR Submits Report.
The report was submitted to the meet
ing By Jackson H Ralston. chairman OF
the committee on law and legislation. Mr.
Ralston made a brief speech in favor OF
the adoption Of the report, pointing out
very clearly the unsatisfactory character
Of the pending legislation and explaining
the simple. straightforward character OF
that proposed in the report. legislation
which might be enacted at the presen.
session Of Congress
Discussion upon the report went wide
afeld. and it became necessary for Capt
James F. oyster. who presided. to call the
speakers to the subject before the meet
ing IN order 10 keep the talk within
proper BOUNDS Some harsh things were
said about the extortions OF the company
but in the main the discussion was char
acterized by fairness 10 all concerned.
The meeting was conspicuous for the
number of men present who are repre-
sented in the gas company. one way OF
another. ATTORNEYS were numerous. Sey-
eraI prominent brokers were there. a
least two officers Of the gas company
were present. and deep interest Wa.
shown in the proceedings by them.
Mr. Albert Discusses Finances.
One OF the best speeches of the even
ing was given BY Alier d. Albert. WHO
has given much attention 10 the subject
and in MS talk he presented a very. clear
statement Of the affairs OF the gas com
pany's finances, and how they would he
affected by the proposed legislation.
Others participating in the discussion
we're John Fleming. c G Lancaster. Con
rad Syme. John l. Weaver. COrcoraI
Thorn. Ralph Lee. Philip GormeIy. Franz
Kidd. Charles Claggett, A. Metzerott. anC
PercivsI n. Brown
Considerable time was spent over the
question whether the further considera-
ton OF the subject should be given to q
special committee or be sent back to the
Committee on Law and Legislation.
was upon motion by Charles CIagget
that the action indicated prevailed.
The deciding factor in the action takeT
was the assurance given by members Of
the committee and others that Congress
VIII not at the present session pass tho
House bill with the Senate amendments
and that nothing would be lost and mucl
Ind to--ard > clna,. r.ndnrStnndino ~