The Washington herald., 1911-02-08

At q meeting Of the stockholders Of the
Washington Gas Light Company. held
at the company's Offices on Tenth street
Monday morning, John r. Mclean, John
McIlhenny, r. II. Goldsborough, Ord
Preston. Joseph Letter. and James NJ
as directors for the ensuing year.
After the vote was announced Mr.
Goldsborough arose and made tho fol-
lowing statement:
"Mr. Chairman and Gentlemen:
We have been making history during
the last year. and I have been requested
to outline to you what will be the pol
icy Of the company in the future. Briefly
it is our purpose to utilize the peace
pact that has practically been established
with the District government by devotins
our undivided energies to the promotion
of our business for the use and benefit
of all whom it may concern, including
our fifty-odd thousand consumers.
it is proposed, in the first place. to es-
tabish a commercial department, to be
conducted under executive committee
management. Among other things, the
committee will endeavor by judicious ad-
vertising and active solicitation, aided by
substantial reductions in the prices OF
gas misunderstanding, cooking, and il
Eliminating devices-to promote the sale
OF the company's products. to the end
that we may be able in the near future
and the cheapest gas. all things fairly
considered. on the Atlantic seaboard.
May BE Another Reduction.
Having twice voluntarily reduced the
price of gas within two years. we will
break the record, if we can, by yet an
other reduction within the third year.
Among the things to which We look
for increased revenue from now on, Mr.
Chairman. is a substantial reduction in
our leakage account. We lost, in round
numbers. s15o,oOO that way last year, and
we hope to save approximately one-half
of that amount during this one. We have
already made an encouraging beginning.
and having. for the first time in our his
tory, an adequate provision in the shape
OF bonds for that and other improve
ments. will go on systematically to pro-
tect the plant in that important particu-
lar.
Another inadequately developed source
of revenue consists in the use of slot
meters by parties whose means are too
limited to justify the installation of the
other kind Again, it only needs proper
organization and financing to increase the
demand for gas by furnishing to all who
of gas appliances, either for cash or on
the installment plan. In this way we
calculate to greatly increase our sales
OF gas this year and from now on:
From all of which and other economies
in sight We confidently hope to make
you year hence the most satisfactory
showing in our history
Books to BE Thrown Open.
According to our agreement with the
Commissioners. as you no doubt under
stand. that showing will be submitted to
them for verification: our books will be
thrown open to them, and they will re-
main open thereafter. to analyze every
item of cost in that statement and in all
subsequent ones. with a definite under
standing that we will make such reduc-
tions. from time to time, as the facts
thus shown may indicate to be reason
able and proper in the premises
The financial statement Of the company
is as follows:
Office of
The Washington Gas Light Company,
Washington. n. c.. Feb. 1. 1911.
Sir: I have the honor to transmit here
with detailed statement of the business
OF the Washington Gas Light Company,
with list OF its stockholders, for the
year ending December 81. 1910.
JOHN r. MCLEAN.
President
DETAILED STATEMENT OF WASH
INGToN GAS LIGHT COMPANY
FOR YEAR ENDED DE-
CEMBER 81, 1910.
Value OF plant exclusive Of
working capitaD. .sl2.5 .5o2 neo u
Amount Of paid-up capital
stock..--....--...... :,soo,oooo 90
Amount and character OF the
Indebtedness of the COM
pany:
5o-year 81 gold
coupon bonds. :. s, ,soe, 1900
Improvement bonds 6ss.7oo.oo
Accounts payable
tcurrenD...... ao,3s255
24s1,4s4.5s
EQUIPMENT. CON.
sTRuCT1ON AND BETTERMENTS.
General Structures S6Sol
Works and station
structures. ~ 29,5Sl