The Washington times., 1910-05-03

not stop a wheel in the business ma
chinery OF the company Il VIII not
shorten the breath in the lungs OF the
great giant; and certainly II VIII not
diminish the perpetual and ever-in-
CTeasiuE flow OF revenue into the
treasury from the pockets Of the peo-
pie, who are the consumers or It's
product
STANDARD In Some States.
Legislation Of this character is
standard legislation in some. II not
many, Of the States
Let us verify this from the Massa-
chusetts statutes Il begins to look.
gentlemen. as II Massachusetts, was
taking the lead in solving the gas
question as a proposition between ali
the faCtOrS-the SrautOr. the corporate
body. and the consumers, for they
have formulated a law and adopted
system which seems 10 be working
cut the problem TO the advantage of
all concerned and IL Is law that IL
would be well. in my judgment, 10
adopt in this District, as settlement
Of this proposition that has been IN
controversy so long Among the pro
visions that you VIII find in the law
OF massachusetts is that TO which l
have already referred
Here AR HaZieIOn read the statute
, II. question and lengthy argument fol
lowed with Mr. Goldsborough.
The Original Contract.
Mr.. Hazelton then continued:
Again our worthy friend, the counsel
] for the Gas Company. in all his excur-
/ sions after light and law IN support Of
I his contention. has somehow failed 20
! make a landing at the port where they
I have IN keeping the original statutory
contract between the Government and
( the Washington Gas Light Company.
! This seems 10 have escaped his notice.
/ Notwithstanding that II is the very
/ touchstone OF the whole proposition un-
I der discussion.
As you vel know, this contract Is set
I 1Ortn IN the organic act OF july >, 1873,
I entitled, An act to incorporate the
Z Washington Gas Light Company This
4 charter IS not as elaborate as they
/ ambiguity. and unlike those early arch
3 ives of the company that persisted IN
/ such an untimely way in the City Of
I BrOtnerly Love. L contains no myster-
! iOus irregularities
/ BY this contract IL was agreed. as
! shown by section ., that the stock cap
I lualizatlOn Of the company should be
I controlled absolutely BY Congress Re
4 great party of the first part. ar -
I this the company agreed That power
/ was reserved in Congress for a good
I reason, obviously, the SoundueSS OF
I which the experience or the people in
! modern times with corporations has
/ shown in section 8. Il was agreed that
! the capital stock of the corporation
/ should be subscribed and raid for IN
] good faith I'm cash, and this condition
I is reaffrmed IN the act OF 49, that
! authorized the second million dollars in
{ crease OF capital stock
] The franchise therefore. IS TO be eNcr-
4 ciSed for the public good
All a corporation has 10 do is % keep
within its powers in carrying on its
I business
/ The question Of stock capitalization
/ with the Washington Gas Light Com
/ pany is solely In the hands Of Congress.
The company cannot initiate a plan 10
I forestau the action bf Congress for an
4 increase Of a stock capitalization IN
theiT Office on Tenth street that Is not
ultra wires Of the corporation They
l cannot declare and issue a dividend that
l is not within the power and the au-
[ 1horiJy Of the corporation which gave
r-nr-- rral- LIra