The Bridgeport evening farmer., 1909-06-01
INFORMATION WANTED BY THE
 COMMITTEE
Statements of Complaint Relative to Lo. cal Conditions Will be Especially
 Welcome.
Today's Legislative Hearing Will Re. late to Control of Finances of Public Service Corporations. Wednesdays to Control of Rates and Thursdays to Control of Operation.

Hearings on special subjects con- nected with the Public Utilities Bill have been assigned by the Special Committee to which the Bill was re- ferred as follows:
 \ Tuesday, June 1, 200 P. M. As to control of finances of public service
 corporations.
 Wednesday, June g. 200 P. M. As to to control of rates of public service corporations
 Thursday. June 3, 200 P. M- As to control of management and operation of public service corporations.
 1t is current rumor that the Special Committee intend to report some sort of measure. The character of the
 bill 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 Bill be present at these hearings and give the Commit tee pertinent information concerning local conditions. The members of the Committee necessarily can have no
 knowledge of local affairs except such
 as is furnished them at these hearings.
 It is the duty of every public spirit ed citizen interested in the honest 1 issue of securities by public service corporations to be present at the hear
 ing on Tuesday. The need of some
 legislation is attcsted by the history or Ine connecticut Ha1lWay 6 1<lSnC-
 ing Company and of The Shore Line
 Electric Railway Company. among
 others. The bill recommended by the
 temporary commission provided that public service corporations should is Sue securities for full value only, that stock should be issued for not less than it's par value and bonds for not less than market value. These pro- visions would stop the present evil practice of building trolleys and estab- fishing lighting plants on the proceeds
 of bond issues. and then compelling
 the public to pay dividends on stock given to promoters as a bonus.
 The bill recommended also provid-
 ed that the proposed commission
 might audit the accounts of these corporations when necessary, or when
 requested by twenty-five per cent, of
 the stockholders. This would prevent
 the misuse of stockholders funds by
 interruptions arrangements. Similar powers are given the insurance com
 nection with insurance companies,
 savings banks, banks and trust com panies.
 It is difficult to understand why it should require so much effort to ob-
 tain such apparently desirable legisla- ton; yet it is clear that 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 hearing on Tuesday. to point out to the Committee the evils which have resulted from over capitalization in this city and to urge reasonable and sane legisla ton which shall protect the small investors and the public winch pays the bills.
 Every one who is dissatisfied with the charges made by any public ser vice corporation in this city should state his grievance to Committee Wednesday. If there are no com p1aints 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- sented to every General Assembly for the regulation of trolley fares or charges of lighting companies are without foundation. But if the com plaints presented Wednesday are ed we may reasonably expect some effective action to be taken by the present General Assembly.
 The hearing on Thursday will be de- voted 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
 beard on questions of such para
 mount importance. The opportunity should not be lost. All public spirit ed citizens should attend these hear ings and should assist the Commit
 tee by giving it all possisble informa- ton concerning local conditions which
 may be in, any manner pertinent to the questions before the committee.