The Washington times., 1910-05-03

qUent legislation Of Congress by way
OF amendment 20 the samef mean an
analysis cast with that special and
definite clearneSs necessary 10 carry
conviction to the ordinary minds Of
men, and which can be justly construed
as SubversIve Of the pending resolution
Otherwise IL stands unimpaired as a
sound legislative proposition.
As Declaration of War.
He seems TO look upon II as If il were
a declaration Of open war on the part
Of the committee in Congress against
the rights Of the corporation, 10 be
waged for the purpose Of despOliatiOri
and destruction; that II really means
the annihiIation OF corporate innocence
and corporate purity; that It means the
eNIiuE-Iishment Of the flaming torch
that lights the Capital city, and is a
ruthless violation of the Constitution Of
the United States and the Magma Charta
OF English liberty. That Is about what
he claims, when you Doll the argument
ali down and get at the Tesiduum
I think that il is in order now TO
refer 10 the resolution Itself. and see
II il carries any deadly weapons con
cealed on its person; II there IS any
thing on It's face or in its terms and
provision to justify the objections raised
Z by the counsel 20 its cCnStitutiOnality
or 70 justify his alleged anticipation
/ OF long train OF evil results CT II
should become a law 20 the prosperity
and legitimate business interest OF the
/ corporation he represents
What Resolution Says.
/ The resolution says to the gaslight
| companies Of the District You are
| hereby prohibited from issuing any
/ bonds. certificates of Indebtedness or
| any other evidence Of debt except such
] an evidence Of debt as shall actually be
/ required for the payment Of necessary
! betterments and improvements only IN
I less you get from Congress their ex-
press consent Sc 10 do"
/ The Washington Gas Light Company
/ knows, OF ought t. know, that u has
| issued heretofore the evidences Of debt
/ ernbra Ced IN the classification prohibited
/ by this resolution without the consent
/ Of Congress, and II knows fun well that
/ II cannot get the consent of Congress
! Tor that purpose Possibly that may bs
I the real ground which actuates inter
| estS now 10 the passage OF this resolu-
/ tons
The restraining clause Of the resolu-
] ton Is Intended, evidently, 10 end out
I the dividend 81 stem adopted hy Ihf
/ Gas Company for which there Is no au-
4 thCrtty N its charter or II exist
/ ing law bE which il declares and
/ b Ethe consumer cash dividend OF
/ 10 per cent. more OF less. plus a so
/ called dividend Of certificates Of in
/ debtednesS weighted with an interest
/ annually in an amount equal TO its ful
/ capitalization, or in an amount. more 81
( less, as the case may be. 70 be dis
( tributed among its stockholders. prC
rata as q bonus, 10 she prejudice Of
| the rights OF the consumer, or 70 issue
/ any form Of corporate Indebtedness thai
/ may be 50 employed TO the advantaEs
1 OF the stockholders ard to the disadvan,
/ tage OF the consumer.
Question Of CoustitutionaHty.
Now IS such q resolution unconsti-
/ tutionaI2 Can Il be held TO invade the
Constitution, OF the great charter 81
English liberty It certainly leaves
Unrestrained the power Of the com
lpany 20 apply its current earnings q
the payment Of all the necessary ex-
ipeuditures demanded from tine q
| time by its legitimate business oper
atoms and 70 meet its existing Obli-
81 cations. and II. perchanCe. the earn
ings should fail 10 furnish adequate
means for that purpose, the resOlU-
ton does not prevent negotiations Il
make up the deficiency, or for any leg
itima1e purpose sanctioned by TIT
charter Of the company.
/ The passage Of the resolution vii