The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-04-29

ping the first in order as too frivolous
for primary consideration.
/ The initial premise, then, always is
this-that gas is composed chiefly OF
wind and water. and, therefore costs
nothing, and requires no invested capt.
tai TO make H. Let US see about that.
Apart from the testimony Of Or. Hum
phreys, "A witness who is admitted 10 be
pre-eminently a master Of the subject.
we have proof enough to satisfy the
most exacting mind Here is our annual
statement, for instance. which, not haV-
ing been challenged. you are bound to
accept as unimpeachable-as in fact II
is. From this il appears that the WASH
ington Gaslight Company has paid dur
ing the fiscal year. for taxes alone, some
thing like four hundred dollars day.
and daily over three thousand dollars TOT
labor and materials used in the business.
These three items. wages. materials ana
taxes. approximate closely the aggregate
Of four thousand dollars day for every
day in the year. Sundays included. II
also shows that we have. in round num-
hers. ten millions of dollars In tangible
properties 10 say nothing OF franchises
invested in the business. An estimate
that checks up all round, as ] shall show
you. with every accepted test and cri-
terion of value legally and equitabiy ap-
plicable 10 such a case.
Here is a fact for instance, that con
clusively indicates and justihes much
higher valuation than that. to the I'M
biased mind: The Washington Gaslight
Company. with total outstanding securi-
ties aggregating less than S,S0O,OOO pays
an amount in taxes which will this year
no doubt amount 10 one hundred and
fifty thousand dollars. or exceeding Two
and one-half per cent on the par value
Of our entire net earnings. that is 10 say
about per cent per annum on its S2,ooo.wl
capital stock. an amount by the way,
that, capitalized upon our regular mu-
nicipal tax rates would make grand
total Of approximately thirteen mil
lion dollars The fact IS, We paid In
taxes the last year O909l twenty per cent
OF our entire net earnings. that Is TO say
or our gross earnings less operating eX-
penses-without deduction from Interest
OF capital charges Of any kind. Does noi
that bare and simple fact conclusively
demonstrate that we are enormously IN
dercspitalized?
But inasmuch as I propose 70 consider
/ physical values in another part Of this
argument. We VIII pass that branch OF th'
case for the present, 20 90 20 the mex
count Of the indictment which has had al
/ inseparable relation to IT, that In TN
/ last analysis. il is believed, is at the
root OF the whole case.
II has been charged over and over agaiI
/ here and elsewhere. that the present price
Of gas go cents per thousand Is unrea
sonably high when compared. frst witt
the prices OF other things that are neces
sary TO the comfort and convenience o
mankind: and secondly with the price
paid by our neighbors and fellow-country
men under fairly comparable conditions
/ Mr.. Chairman. Is that charge or eithe
part Of IT true? Is the price Of gas Fl
1 Washington, or elsewhere for that mat
ter. in any sense or the word high whel
compared with prices paid for other com
parable things that constitute the neces
sites OF life?
Now. the incontestible tand I am gla
that there Is at least one fact which n
one has as yet been reckless enough L
disputel. the admitted fact is that tn
price Of gas and its by-prcducts hav
been steadily declining year by yea
since 1873 Going down. down, down. Tx
McGinty. on a constantly rising market 20
all the other necessities and luxuries o
life. for the better hall OF a century
During that period OF uninterrupted de
scent without shadow OF turning
the cost OF lighting. Illuminating powe
duly considered. has fallen a thousan
per cent. whilst the cost Of living as {
every other needful thing, except ga:
has continuously advanced until eve
fanaticism cannot dispute the fact tina
gas is the cheapest necessity that none
can buy-cheaper than anything It CON
petes with in any way; cheaper, for ir
stance. than electricity oil or candles 10
lighting purposes: more economical f.
fuel purposes, particularly for apartment
and small houses, than wood. oil. or Goa
and. generally speaking. / repeat "a
every other equally Indispensable thinl
Far be II from me. nevertheless. 10 cor
tend that this fact forecloses the eQuit
, Of the public. but / confidently subm
that II does raise, in every imparti'
mind, an equity for the Company; ful
Their pursuing our Inquiry into this intel
esting matter. let US look at the hous'
hold price list for moment
Fifty-five feet OF, gas five cents WORT
3 will cook five-dolIar dinner for a fan
lily, or will light for you. with a Wei
: bach mantle. a small house ain nigh
r Does that look high TO you? For II
= price Of a trolley ride. loaf Of brea
[ a couple of eggs. apples or oranges,
I glass Of soda water. a glass OF beer.
an ordinary domestic cigar. we Ugl
{ thousands Of homes from darkness dow
f, 10 sunrise. The day is near at hand, II
J hoped, that gas can fairly be sold cheape
4 but does not that make SO-cent gas loo
S fairly good to you? There are S,o
J households in the city of WashingtC
whose daily bill for all the gas they VI
( for all purposes averages eight cents II
{ head Of one OF these FAMILIES. Mr. Foste
: appeared as a witness against US in tn
n case. He testified that for $3.50 we SUI
r piled him during the entire month wi
r gas enough for lighting purposes al
cooking purposes as well; and his is
), no means an exceptional case.
n Mr.. Chairman. fifty years ago 1t wou
e have been unthinkable Gas enough f
( lighting and cooking. to say nothing
r heating. for an entire family for twent
: four hours for less than the price Of ha
S a pound of coffee. full grown cabbag
r a few mouthfuls or pork or glass OF 70
. gut whiskeyl Indeed, when you refe
- that the average price paid by ell o.
: consumers something Ike 10000 OF the
y in round numbers) is less than ten cen
d a daN am mite sure Won will Me-