The Washington herald., 1909-02-22
Hastr Gss LegisIation Not Desired.

To the extent that IL reduces the price
OF gas 70 % cents per 100 cubic feet, and
limits 70 10 per cent the amount Of car
bon monoxide such gas may contain, the
public would gain by the enactment Of
the legislation. proposed in the Senate By
Chairman GaIiinger, Of the District COM
mittee.
In all other respects the Washington
and the Georgetown gaslight companies
would gajn-and gain handsomely
The Washington Herald wants to see
gas legislation. II believes that reason
able increase Of capital is justifable and
should be permitted by Congress Of
course. i wants 10 see a reduction in
the price Of gas. There is no valid reason
why Washington should pay 81, or even
% ceats. waen other cities pay 50 cents
for better gas. But this paper prefers no
legislation at ali rather than Ili-consid-
cred legislation; and certainly this is too
important a matter TO be hastily dis
posed Of in conference under the stress
incident 10 closing days
For years the gas companies have
sought from Congress and the courts per
mission 10 increase their capital. but have
met stubborn and Unyielding resist
ance. Now, after all these years, the
Senate committee proposes, not merely
10 grant this long-sought permission, but
10 make it mandatory upon the companies
10 proceed 70 increase their capital More
over, it expressly stipulates and requires
that the so-csned certificates Of indebted
ness-s2 So. .e00-bearing interest. and which.
according to common understanding. cost
The original holders not a penny, but were
issued TO reduce an accommodating and en-
barrassing surplus. shall be converted
into stock The limit Of the increase Of
capital IS generously placed at Sl0.o90. 600
for the Washington company and al
$500 for the Georgetown company.
Coincidentally with this increasing
Of capital TO SO 5000. which. We are told.
represents q fair valuation Of the present
property" a coal gas plant IS 70 be in
stalled at an outlay Of 100000 TO S5o0.-
o9o. This means q bond issue and a further
increase OF capital, ultimately, that VIII
bring the total up 10 S15.o0aOOo or there
s5outs2
The Sliding-sCale arrangement. follow
ing the Boston plan. commends itself.
and, on the face. seems equitable. But
the successful operation Of this sliding
scale IS dependent wholly upon its basis.
and with anything Ike S15.o09,o00 capital
zation 10 start with the benefit TO the
public At once becomes problemaucaI. if
not decidedly remote.
Suppose the companies. in the event OF
such an enactment, should exercise the
right given them TO pipe natural gas 70
Washington. Would it be equitable to
charge the consumer 90 cents for that
sort Of product, OF 90 cents for mixed
coal and natural gas?
Chairman Gallinger has made q strong
presentation Of his measure. II deserves
a reading But, after reading Il. every
lawmaker-every Senator and every Rep-
resentative-should then scan the Bill
itself, line by line. Once this is done. II
viii surely be amended-and amended
materially in the interest OF the public.
As We have said, this is TOO importan,
legislation 10 warrant precipitate action.
Better proceed deliberately and in order.
or let II 60 over.