The Washington herald., 1913-08-07

tiic plCscHl Will
gas west of Rock Creek, and IS Ger
gas east of the purling stream.
Fortunately We have one electric ligh
and power company and one telephon
corporation, and We have so far avoided
in late years at least, the expense an
inconvenience of two telephone com
panies.
We have three street railroads wit
no interchange of courtesies and on
herdic line that is enjoying transfe
privileges.
Utilities Commission.
We have a Commission governing on
public utilities under authority for thei
action from Congress. How much easie
for this body to make its rulings 70
one gas company and one traction com
pany?
Unity of all in one is not being con
sidered in this speculation, although a
one of the officials stated the vehicle
of consolidation is here in the Wash
ington Utilities Company, il its aid Il
desired
They will never do it unless they
have to-
But if the Utilities Commission recon-
mended it, and Congress approved the
recommendation, then they would have
to-"
1t ought to be easy in the matter of
the gas corporation. A valuation could
quickly be agreed upon by the interest
ed parties and the Commission.
The Washington Gas Company owns
the majority of the Georgetown Gas
Company probably Illegally, based on
the recent ruling in the matter of the
application of the Washington Utilities
for 70
Congress has the right TO make laws
retroactive-that is civil laws. The case
is in the courts awaiting decision. but
a ruling against the Washington Gas
Company would not destroy its equity
in the stock it holds. But the owners
of the minority interest have frequently
made offers to SELL although its pur-
chase without permission of Congress,
would be but adding to questionable
holdings. An amendment to the charter
Of the Washington company would be
necessary to get rights to sell gas
over the creek, while the Georgetown
charter permits it to do business in the
others territory-although it is doubtful
whether an attempt will ever be made
to exercise the charter rights or that
the Utilities Commission would sanction
dual occupancy of one field.
Gas Companies First.
\ consolidation of the gas companies
can be much easier effected, and should
come, il at all. first, on a recommended
ton Of the Commission, after that body
has completed its calculation of physi-
cal valuations. 1t would mean one uni
form rate for gas throughout the Dis
trict and adjacent suburbs
The Washington Utilities Comnany
Cwning and operating the Washington
Virginia Company. and the Washington
Railway and Electric Company would
probably come together today, if au-
thorized by Congress to do so.
With the Capital Traction Company
it is different. They will never do il
unless they have to-
But every angle in the problem Is
capable OF solution. every tough knot
would disappear under authority, equity,
and fair dealing, and in the end the
city. its people. and the shareholders in
the various corporations would he the
gainer-overhead charges would be
slashed. through routes for one fare.
universal transfers. and one price gas
for the people would be a reality.
Just a Dream.
Just now it is but a dog days dream
but there will be an awakening some
day. Even those who have corporation
rabies and fever, should have no OBJ
jections, provided Congress and the IT'LL
tiles Commission, after due elaboration.
brought this Ethiopia TO District of Co.
lumbia.
Local Securities.
Just as many members of the local
exchange We're in their seats on the call
L.
as a nine in a game of baseball for
charity, the one spectator might have
acted as umpire with a financial man
as substitute pitcher.
In all eighty shares of stock were
traded in. Railway preferred. at s. 3-S;
Gas, at 81 3-SaS4 1-2, and a little Rail-
way common, at g. That's all.
The bid asked on everything on the
list was the same" and the session
ended without a bond transaction or
any indication to trade.
Stocks Easier.
There was a natural and helpful re-
action on Wall Street yesterday. De-
clines were not severe, Last of a point
on the average, with Union Pacific lead
ing the list and holding SIS net gain and
attracting the most attention.
What value will Union Pacific rights
have?
One story was to the effect that Il
would be so share. And yet there
was denial that any cash distribution
would be made by Union Pacific in.
terests in close touch with the sItua-
ton. There is possibility, however.
that an extra dividend may be declared
by the company out of surplus earnings
before the close of the year, it is un-
derstood, but IL such dividend is de-
clared it will have no connection with
the Southern Pacific certificate offering
and will be an entirely separate propo-
sition. The matter of an extra dividend
= Union Pacific, however II n said has