Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-05-14
TRIAL FOR HASKELL FOR CONTROL Of GAS.
Governor of Oklahoma to Face Bill to Regulate Production
Jury Early in June. and Sale IN District
Intervention is IN VAIN REPORTED TO THE HOUSE
Godfrey Substitute All
R. Rush Prosecutor Measures Pending
T. A. HOLMES FOR DIRECTOR REDUCES COST TO CONSUMERS
Want i'm Head O o Be APP
Bill to Regulate Production
and Sale in District.
REPORTED TO THE HOUSE
Coudrey Substitute for All Other
Measures Pending.
REDUCES COST TO CONSUMERS
Provides New Standard for Meters.
Requires Inspectors to Be APP
pointed by Court.

4 comprehensive bill to fix tie price
of gas in the District at So cents thou
sand cubic feet: to prohibit the local gas
light companies from watering their
stock: to provide for meters that may be
plainly read by consumers, and making
many other changes in the local Law with
respect to the manufacture and sale OF
gas, was favorably reported today by the
House committee on the District of CO.
/ lumbia.
The bill is a substitute proposed by Rep
resentative Coudrey of Missouri for the
various pending bills affecting the produc-
ton and sale of gas in the District
The measure provides that after the pas
sage of the bill the Washington Gas
Light Company and the Georgetown Gas
Light Company may continue to charge 81
cents thousand cubic feet until August
81 of this year. when the eighty-five-cen'
rate shall go into effect.
This section also specifies that here
after 1.-THE standard rate Of dividend to be
paid by said companies 10 their stock
holders not to be Increased otherwise
than as hereinafter provided, shall be &
per cent per annum upon the par value of
their capital stock, which capital stock
may be increased as herein authorized
by said companies to amounts equal TO
the actual net value of the physicZ-
property of said companies, incluKng
working capital, as shown by the present
book value of the same, less Their out
standing funded liza bilities respectively"
Provision for capitalization.
A limitation upon this authorization
! ital stock hereby authorized shall not ex-
coed in either case sum equal to an
| amount found by CAPT .alizing the amount
Of taxes paid by said companies for 1'tE'
upon the taxation basis established by
the acts of June, 1902"
In any event. it is further provided, the
total amount of the CAPT al stock of the
Washington Gas Light Company shall not
exceed ST, 5OOOO0 and the total capitaliza-
ton of the Georgetown Gas Light Com
pary shall not exceed 100000, without
thte express consent Of Congress.
The Wash ingtOn Gas Light Company
according to the bill, may refund Its
outstanding liabilities to an amount no,
exceeding $3.20O,000 into per cent
bonds payable when the board of direc-
tors mag determine, and that hereafter
it shall be unlawful for the companies
or either of them. ever to issue any
additional bond certificates of indebted
ness or any other evidences Of debt ex-
cept such as shall actually be required
for the payment OF necessary better
ment, extension or improvement with
out the express consent of Congress.
All evidences OF indebtedness issued in
violation of this inhibition are declared
to be void by section of the bill. and
the gas company offending is made liable
to a penalty OF $1,000.
Section 3 provides that during any
year after the passage of this act where
in the maximum net price per thousand
has been less than the standard price
the companies may pay dividends exceed
ing the standard rate. in the ratio of
one fifth of one per cent for every one
cent Of reduction of said maximum net
price below the standard price.
Publication of Reports.