The Washington times., 1912-03-10

AS said before, simply apropos of
nothing.
Talking about foresight recalls that
fact that we will have to doff our hats
to the wisdom of the young blood in
the directory of the Washington Gas
Company, in the event of a failure of
negotiations between operators and
miners in the bituminous coal fields.
With foresight that is commenda BILE
the directors of this corporation have
coal on hand. contracted for or en-
route to Washington sufficient to run
the gas works until January. 1913 and
that Is practically ten months distant.
Wonder II the street railways are
equally well supplied?
And the Gas Company is using moro
coal these days every day than they
ever used before. The gross sales SO
far this year have increased over
100000 cubic feet Any shareholder
can verify this information. 1t is fact,
not rumOr.
Moreover another physical valuation
estimate is being made of the plant md
property and the chances are that il
will show greatly above the last valua-
ton.
The last statement showed that the
company had expended A42, 900 out of
the earnings for betterments-against
which one of these days there will be a
bond issue. 1t is still pushing better
ments wherever necessary.
Brokers on change are wandering
whether the Washington Gas Company
will take its allotment of Georgetown
town Gas, the Washington 'Sas Com
panY would be entitled to sl7G,5OO OF the
nCr cent Georgetown bonds.
The matter will be decided Ey the di-
rectOrS at their next meeting. II the
company does not take the bonds, they
will be able to add the premiurl. a
matter of S1oos0, to their cash account.
II is quite possible that the bonds will
he sold en- block TO one of the trust
companies or to 4 syndicate at even
higher Than the current price on the
eNcharge $50 a bond premium.
The physical valuation Of the George
town Gas CompanY just completed,
$4,000, gives the stock a valuation If
NOR" than $50 a share after deductinG
the $4,000 bonds issue.
1t mignt be well, il the final analyses.
for the wise inVes,or to have a few
shares of Gas stock in his strong box
anent prob abilities.
4 correspondence of The Times Mail
Bag calls attention TO the taxes, real
and personal paid by the street rail
rent talk of a CONSOLIDATION of the
street railways in the District" The
Capital Trnction's taxes are given as
materially heavier than the Washington
IDENTIFY comment in this column iS eX-
neCtHd.
Congress makes the rate of assess
munts-StreCt railroads pay per cent,
gas companies per cent on gross re-
ceipts, telephone and electric companies
I per cent or gross receipts. and banks
6 nCr cent on gross earnings; irSur-
unce companies 1l3 on premium re-
cCipts. and bonding companies on one
lalf of | Dar cent of gross reCCiptS-Jhis
personal tax. ''he real estate rate is
also made ca n year
There is no question bat what the real
estate of the capital Traction Company
is moro valuable thun that Of its only
competitor. Earnings show for them
selves.
The merging of the two plants may
be a matter of the near future or of
the dim and distant perhaps.
When the matter of unHersal trans
fers was taken up the railroad com
panies did not make any fight. On the
! Immediately. They knew that the
highest court would not permit the en-
| forcement Of obligations for which
nothing was to be paid
In other words they knew that they
would not be asked in the final
analyses, to do something for nothing.
Therefore their indifference.
Anyone undertaking to go before
! Congress and asking for enactment of
consolidation proposition would prob
ably meet with quick and positive re-
| fusal to even broach the subject
But, in the event of universal trans
nIc0Rn'S VITAL