The Washington herald., 1909-02-12
SENATE BILL CUTS
GAS TO 80 CENTS
Measure Expected to Pass Be-
fore March 4.
A SLIDING SCALE IS PROVIDED
Bill Prohibits Excessive
Use Of Carbon Aenoxide-Msy De-
clare Dividends in Ratio of 1-S OF
i Per Cent for Every Cent of Re-
ductIon Below Standard Price.

Employing every provision contained In
the several bills now pending before Con-
gress. Senator Gsliinger yesterday intro
duced a measure 20 reduce the price OF
gas to 90 cents. and 20 provide that the
product shall not contain more than 10
per cent carbon monOxide.
On and after the passage Of the act
the gas companies VIII be required TO
open and keep a set Of books in the man
ner prescribed by public service commits
sions Of other municipalities. and ap-
proved by the Interstate Commerce Com
mission
The chairman Of the District Commit
tee, to whom the bill was referred for
consideration. win probably submit a IA
vorable report on the measure Monday
and ask it's immediate passage. and the
House VIII act on L before the end Of
next week
Features Of the Bill.
An important provision, based along the
lines OF the sliding scale in vogue in
London. Boston. and ether cities. is con-
tanned in the act 10 compel the gas
corporations 10 reduce the price Of gas
in accordance with the increased divi-
dsnds declared.
AS specified by Senator Gsllinger. the
gas companies MAJ pay dividends. ex-
ceeding the rate OF per cent. IN the
ratio OF one-fifth Of ! per cent for every
cent OF reduction below the standard
price OF 90 cents per thousand feet.
One Of the FIRST sections OF the bill
/ provides: That within ninety days after
: the passage Of this act il shall be the
duty Of every corporation manufactuT-
/ Ing gas in the District OF Columbia 20
/ begin proceedings IN the Supreme Court
/ OF said District, pesItioning the said court
TO make a valuation OF the property used
I in the conduct Of It's business, the said
valuation 10 be made under such rules
and regulations as the court shall pre-
scribe. and under proper instructions TO
a board OF appraisers: the said proceed
/ ings 70 be had after notice thereof Of
not less than thirty days from the fling
Of said petition 20 be served upon the
| Commissioners Of said District, who shall
| thereupou appear and become a party 70
/ the case, and there shall be a right OF
appeal for either party from the decision
/ Of said Supreme Court 20 the Court OF
Appeals OF said District, and therefrom
20 the Supreme Court OF the United
states
Valuation by Law.
'In order to enable the court TO make
the valuation Of the property Of said
corporation TIE court shall appoint a
| beard OF three capable and disinterested
appraisers, who shall be sworn 10 the
faithful performance OF their duties.
This board shall examine the property
Of the corporation, and take the test
naony OF persons in interest who may ap-
pear before them. snd hear any other tes-
timony that may &c deemed necessary to
aid in arriving az a true and just valu-
alton Of The property, and they shall re
port 20 the court their finding concern
ing such valuation. This board shall also
report the amount OF stocks, bonds, and
certificates Of indebtedness which the evil
dence may show 10 be outstanding
against said corporation
THE report OF the board OF appraisers
nav be excepted to by either party.
and shall be confirmed, modified. or
amended. as the court may determine
when giving its judgment in the proceed
I ings. which shall be subject 70 the sp-
peal above provided for. 10 be taken &C.
/ cording TO the law regulating appeals IN
trials OF cases IN equity in the District
/ Of Columbia
when said report is finally acted upon
By said court, the corporation shall have
the right 10 increase its capital stock 10
the amount OF said valuation: and ali
proper costs and expenses incurred IN
/ said proceedings, including compensation
I to the board OF appraisers and 20 experts
/ called by the Commissioners, as the court
may approve and allow, shall be borne By
the said corporation: Provided. that so
much OF said increased capital stock
as may be necessary to retire its existing
/ funded Indebtedness may be issued 70
the holders OF said Indebtedness in lieu
OF the same az face par value
And the said corporation as a part OF
/ its petition may include 4 description OF
any Improvements, extensions, OF addi-
/ tons to its property then contemplated,
with estimates Of their cost. and II ap-
proved and allowed by the court, capital
/ stock equal 10 the amount Of the actual
/ cost thereof may be issued therefor. but
! only from time 10 tine as said improve
ments, extensions. and additions are actu-
! ally made and completed"
Additional Bond issue.
II at any time subsequent TO the al
lowauce OF additional capital stock the
gas company shall desire 10 issue sddi-
tioasl bonds upon its property, it may
file its petition In the District Supreme
Court. setting forth the necessity fol
such issue.
After thirty days notice to the Com
missioners, the court may. under thu
prescribed regulations. issue the requested
bonds: Provided. that the amount o!
stock. bonds, and certificates Of indebted
ness at any time outstanding shall mol
exceed the value Of the property Of ths
corporation used in the conduct Of it:
business.
After the appraisement or TIRE com
pany's property, the standard rate Of
dividends to be paid by the corporation
shall not exceed Per cent per year.
The final clause in the bill provide:
that the charter OF the washington Gas
light Company be amended so as &c In
crease the membership Of its board Of