The Washington times., 1914-07-23
SAYSL|GHT CONCERN
SUPPORTS TROLLEY
Syme Declares Potomac EIec-
trio Pays Nine-Tenths Of W.
R. and E. Dividends.

That the Potomac Electric Power
Company is almost wholly responsible
for the dividends paid by the Washing
ton Railway and Electric Company. was
asserted before the House District Com
mittee today by Corporation Counsel
Conrad Syme, who again appeared in
support of the Commissioners bill to
divorce these two companies.
The committee held only brief hear
ing today, adjourning over for. two
weeks: On next Thursday the repre-
sentatives Of the Washington Motorists
Association will be heard in opposition
to the proposal to increase the taxes on
automobiles in the District Of Columbia
The District Committee probably will
hold extended hearings on the bill to
separate the railway and electric light
companies. the coalition having been
recently attacked in a report Of the
Public Utilities Commission.
Mr.. Syme told the committee today
that the railway company has begun
proceedings in the courts to restrain the
commission from putting into effect an
order to divorce the two concerns ard
reduce the alleged overcapitalization
Of the railway company.
Asks a Postponement.
Secretary Bowen. of the Washington
Railway and Electric Company. sug-
gested to the committee today that the
hearings be postponed until the middle
of August, in order that President King,
now on a vacation, may be here.
Congressman Caraway retorted thai
we have to stay here all summer and
can't take a vacation and 1 see nc
reason why the hearing should be held
I'D for sO long a time -
Corporation Counsel Syme furnished
the committee today with a comparative
statement of the dividends paid from
the revenues of the street railway
company and the electric lighting
company. He declared that about
nine-tenths of these dividends paid dur.
ing the past ten years came from the
consumers of electricity" his argument
being that the railway company is being
supported by the electric light company
and the two concerns gave practically
interlocking ownerships.
Commissioner Harding testified very
briefly today to correct certain minor
errors as to dates and figures in his
previous testimony on this point. The
sci and officials of the railway company
will be more fully heard when the hear
ings are resumed.
Earnings Statement.
The statement FURNISHED the commit
tee today by the Corporation Counsel a,
to the respective earning abilities Of th'
two concerns and the large dividend.
paid during the past seven years. wa:
as follows:
The net income from operation o
the Washington Railway and Electric
Company for the years 1907 to 1918 fol
low: 1907, s1I2. .12o75; 1903, s216, O5I.37; 1909
s2os, ,6462S: 1870 81, SOS. 20; 1911, s101 422 IS
1912. s222, ,154.23, and 1918. s2S2, $50. "a
making a total Of 8, ,29G, 0l0.95.
The dividends received from the Po
tomac Electric Power Company for tn
same years follow: 1907. $4,000: 1903
$40, 900; 1909. 800 600: 1910. 4so. .346O5: 1911
SAFE, 900: 1872 s530.0oo, and 1915, sSO0. 900
The total reached 1920. 346.05.
The dividends paid By the Washing
ton Railway and Electric Company ar,
set out as follows: 1907. $425.000: 1908
s425. 600; 1893, S490. 800: 1910. S555. 900: 1911
s555. 900: 1912. s6S5,OOO. and 1913, s47,0OO
totaling s., 9S2, 0OO
The amount of the dividends paid IL
excess of net earnings in seven yearl
was SEES, ,s29.O5.