The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-04-05

and I have been in a good many OF
them, in my own company. as well as
others
Mr.. RothermeI-In this connection 1T
me ask you, are you interested per
son1llE In gas company else Shere?
MT Humphreys-Yes, sir.
Mr. Rothermel-Or here?
Mr.. Humphreys am not interested
here. no
Mr.. Rothermel-But elsewhere7
Mr. Humphreys-Yes, / am president
OF the Buffalo Gas Company.
Mr.. Rothermel-Are you interested IN
other places?
Mr.. Humphreys-I don't think that I
have got any interest unless II is
small stock interest in one other COM
pany-l don't think at present ! have
any other interest; / don't think or H.
Mr.. Coudrey-And you would not con-
slaer that you are a prejudiced Juror
Mr.. Humphreys-NO, sir, j am not,
and my friends and my clients would
not think so. either
Mr.. COudrey-I would not think that
your friends or your clients would
thlnk 50, but l am talking about the
public.
Mr. Humphreys-Wit those who
know me I do not think that l am con-
sldered a preJudiced witness What
mean about my clients is this; Nobody
testimony cannot be controlled.
MI WILEY would like 10 mention an
analogous case for MIR. COudrey's oene-
Mt If Mr. Godfrey were examining an
engineer OF corporation IN reference
10 something in connection with another
corpo fauon, the fact that ne was an
engineer Of a corporation would not
necessarily bias his testimony In regard
10 the corporation IN which ne had no
interest whatever, would II?
Mr.. Rothermel-But II the witness is
personally interested in both charac-
tiers Of business, IL seems TO me
Mr.. Pearre-It would show his line Of
thought
Mr.. Humphreys-Cer and 1 must
be able to stand a discrimination
upon that. Of course.
Mr.. PeaTTe-And, not rejecting upon
the credibility OF the witness, but SIMPLY
upon the value and weight 10 be at
tached 10 his testimony.
What the Court Would Do
Mr.. Humphreys-Bu isn't it true that
the court in that case would try 20 find
out about the credibility Of the witness
during the denomination; 10 See II
he could make good?
Mr.. Pearre-Of course; and the court
would assume that the Witnesses are
homes.
Mr.. Cary-But you are president OF a
gas company
Mr.. Humphreys-Yes, sir.
Mr.. Cary-As president OF that gas
company, supposing your company
should accumulate an amount Of $500
l0L which YOU did not wish to spend
for bettermeuts, improvements, and so
forth, how would you get rid OF It. now
would YOU divide IL upZ
AIr. Humphrey I could not tell
You. because / have never had such a
case as that, and I never expect 20
have one.
Mr.. Cary-Do you know whether or
not the Washington Gaslight Company
has any connection with the Sossiyn
Gas Company
Mr.. Humphreys-I am not aware Of
that; I don't know anything about IL
Mr.. Colds orOugh-I can answer that
question Il has not Il could not pos
sibly have, in any way
Mr. Humphreys-Cont my an
Swer. take for instance. the company in
wllch I was chief engineer and general
superintendent for many years-the
United Gas Improvement Company, Of
Philadelphia-owning probably, nifty
different works in different parts Of the
United States. Ny recollection is that
when I started with that company IN
lss5. they had a capital OF Sl'Yoo..gg IN
bonds and 100000 IN stocks. Today
they have, I think. 100000 Of capital.
and not a dollar Of u is water That
$4,000. 0J) has been furnished IN part by
direct contributions from stockholders,
and by issuing new stock, and in part
bv capitalZing their earnings For
year or tao they did not pay dividends;
then they paid (. then S per cent, and
finally they paid s per cent. and for
years they have been paying that
amounts per cent
Witness Furnishes Names.
NJ. Pearre-what company did you
say that was?
Mr.. Humphreys-The United Gas In
provement Company, OF Philadelphia,
with works al Kansas City. Omaha,
Des AIoines. and many other places
Their policy was, the managers being
prudent men, not TO distribute all their
earnings in dividends. which meant that
as the years went on they accumulated
a surplus: but some Of the surplus has
since been represented by an issue Of
stock. Just under what legal form that
is issued I am not for the moment pre-
pared to say But I know that some
stock has been issued for surplus earn
iuEs which were invested in plant
There has never been any opportunity
to distribute those earnings in cash, be
cause they needed that surplus. and
more 10 take care Of the extension OF
the plant and that Is the same with
other companies in which I have been
interested. IL IS the same in our com
pany in Buffalo, where we compete with
50 cent natural gas. We use our very
small surplus in making improvements
Mr.. PeaTre-HOw much do you re-
ceive in Buffalo for your gas per Loo?
Mr.. Humphreys-One dollar: tNat Is.
we furnish 81 Illuminating gas in COM
petition with 50 cent natural gas
Mr.. Aiken-Can you tell Us what the
average price Of gas Is all over the
United States2
Mr. HumphreyS-In averaging that up,
don't know what Il would come 10,
but I can give you the prices in the
different cities. The true average could
only be found by taking the product OF
the amount sold at eacn separate price
and dividing the totals OF all OF those
products by the total amount sold by all
the companies.
Mr.. Aiken-Take the large cities, such
as Chicago, Boston, Cleveland, New
York, and so forth.
Mr.. HUmphreys-Ne York city IS sell
ing gas for so cents per thousand; and
under the ruling Of the United States
Supreme Court. not final, as you know,
il Is making on that, on the actual
amount invested in the gas end Of its
business, about per cent And I would
like to say upon a statement lately is
sued by the public service commission
Of New York No. l. to the effect that
they are earning much more, that their
statement is absolutely incorrect, and 1
can prove il
Mr.. Pearre-They claim to earn how
much2
Mr.. Humphreys-About 4 per cent on
the actual investment in the gas bust
ness.
Mr. Cary-AIr- Humphreys, do YOU re-
member that the last time YOU appeared
before this committee I made the aSser-