The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-04-13

would show that there was nothing 10
II" and that few gas consumers are
really interested in the Investigation
Mr. Cary denied this and said that so
many people tried 10 see him daily that
he had 10 lock his door in the House
Office building until lie could get his
correspondence out Of the wax
Mr. Cary said he knew OF a two-inch
main in II street near the Union Station
and that gas consumers in that section
are paying almost twice as much for
their gas as a result. Mr. Hart denied
that there was a two-inch main there,
but Nj Cary said he saw 1t and sUg-
gested II would be well for Mr.. Hart to
see II also
How much water is in the capital
stOck2" asked Mr. Cary
Il do not know replied Mr. Colds
borough.
How much do YOU figure your fran
chise is worth - asked Nj Cary
About s. O0o 600, - replied the attorney.
Have YOU any dummies among your
stockholders asked Mr. Cary
Not that I know OF" was the reply
There may be"
You don't know Of any Senators or
Congressman owning stock indirectly IN
Not that I know Of was the reply
Mr. GOldSborOush said in reply TO Mr..
Cary that the estate Of the late Repre-
sentative 6dEcDCk Ola not own E1S
stock lie also said that John r Nc
Lean did not own one-Jeuth OF the stock
OF the company, and did not hold any
stock indirectly
Mr. Carr wanted to know If the testi-
mOny Of the gas expert, who appeared
before the committee and printed in an
OF the Washington newspapers as ad-
VCr1isements, was given TO the papers
as advertisements in order TO soften
them lthe neVSpapers) I'D a Bit
Nh GOldSbOrOuEh said the testimony
was printed as advertisements because
the company wanted to enlighten its
consumers
Nj Cary asked If the company had
not paid an extra dividend Of S15a.0go
last year, and MI GOldsbOrouzh said il
vas paid out of the surplus.
And that surplus constituted the
money taken from the consumers did
Il not2' asked SIT. Cary
1T was money earned by the com
panys and the stockholders were enti-
tied 20 it, was the reply.
No Interest In RoSlyn Plant.
In reply to AIr- Cary, the attorney for
the gas company said the company. had
no interest in the RosIyn Gas Com
pany, and If John r Mclean owned any
stock in the company his holdings were
small Mr. Cary said he saw no reason
why the Washington Gas Light Com
pauy could not consolidate with the
ROslyn company thereby doing an in
justice 70 the Washington consumers.
The next witness was Sanford y
WhitWeIl. assistant secretary Of the gas
company, who said he was familiar with
the profits Of the company for twelve
OF thirteen years
Figures Presented
In 1900. said the witness. the net
receipts were SL-2IS-9I4- and net cost
S719.7T9-S5 showing a profit Of S4gg--
1853 The investment that year. he
said, was S4,669, 005-11, and securities
Of S3,200,000- The return on the IN
Testment that year was IO-T Der cent.
and on the securities 1876 per cent. In
1906, the witness said, the company
pablo per cent. the same being paid
in 1907 and 1908, and ii 1909 20 per
cent was paid
Mr. Godfrey then went over the
financial statement brought by Mr..
Whitwel, and asked Il il was not
correct that the dividends for the
last ten years averaged Z per cent a
year This was admitted by 8Ir. Whit
well and Mr. scarborough.
Mr. COudrey then asked that Mr.
WhitWsH draw up a financial state
ntenI showing the earnings from 1886
up 10 Jne present time The commit
tee VIII not meet again until Mr.
v nitweu gives notice that his state
nIent Is ready