The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-10-15
Naked Greed at the Gas Stockholders
Meeting

Not word that the slightest hope to the consumer of
uttered the special meeting Company stockholders
yesterday.
Torrents of words that carried hope promise and actual ma
ta profit to stockholders flowed from the mouths of the half dozen
men who control the profits and dictate the prices of gas
Tn keynote Of the meeting How get the most money
out of the gas treasury
Not one of the hundred present lifted voice even to
ask IT. at any remote time the future the burden gas upon
the people OF the District of Columbia could gtened SelshneS
unaOyed madomed coaked in protense of righteousness
dominated the gathering
There money in the gas treasury. There be more money
in the treasury Come help ourselves; let us grasp eagerly
this pile of gold before sinister power steps between Us and
Let us get all now let us put guard at the treasure vaults
50 that we come back the future carry away more and ever
This the note that lay spoken words and the Of
neal acts Naked Greed Saked through spacious room every one
saw him. Stunned him; even so much as dreamed of suggest
ing that ne be driven out; all welcomed him. unbuShingly
The financial reorganization proposed by the directors
went through by unanimous of the stockholders The certificates
OF Indebtedness amounting 100000 and distributed in 1903 for
nothing, will be redeemed in cash derived from the sale of bonds
Stockholders will be given the privilege buying these bonds at par
AS the bonds Will probably Immediately are issued
te stockholders will be able to clean up $4,000 them by buying
them from the company and selling them the market
OF course the company itself sell the bonds in the market
and get all the proceeds and the $4,000 surplus to advantage
building mains and buying machinery but that would benefit nobody
but the The stockholders had power to take that
S26oooo and they have taken it.
One evidence Naked Greed staked through the SPACIOUS room
The proposal TO make betements with money derived from
the sale of bonds instead of from investment surplus naturally found
favor also there's surplus left the treasury there be more
dividends; also ere be future opportunity stockholders to buy
bonds at par and sell them at premium.
Another evidence that Naked saked through the spacious
ROOM
The proposal 10 pay dividends of per the "r value of
the plant found favor obvious reasons In the resolution
providing for this arrangement that the company has here
tofore paid 10 the par of Now has been
decided that shall pay per S13OO0OOO the alleged fair'
value
Ten per cent the capital stock 100000 s26oooo Six
cent the theoretical r value of S13OO0OOo is S78oOoO Wy
Should the stockholders take $4,000 year. they can get
s7SoOoo less the bond interest," 100000 They sody for
100000
Another evidence that Naked Greed through the spacious
room
The reorganization plans have gone smoothly thus far
only remains for the directors work minor details left to them
by the action of the stockholders approving general scheme The
directors and their lawyers this moment engaged these tasks
In the meantime what Of the rights the people of the District of
Columbia? What they going do about hghhanded perform
ance at All Tenth street yesterday afternoon?
Speaking for what believes be the great majority of those peo
pie The Washington Times desires this time give notice that on
the day Congress meets in December the fight for the proper regulation
of the Washington Gas Monopoly will be renewed and will be CON-
tnued increasingly until such regulation has obtained and such
price of gas established that eoonate profits be impossible and
arbitrary stock jugey undertaken only the sk of going to the
penitentiary.