The Washington herald., 1914-02-19
CROSSER HOPES
FOR ACTION Soon
Expects Committee to Pass
on District Railway Own
ership by March |.
READY TO WRITE REPORT
Will Emphasize that Fare Would Be
from Two and One-half to
Three Gents.
READY TO WRITE REPORT
BY JOSEPH y. AMIN.

Representative Crosser. author OF a bill
directing the District Commissioners TO
acauire for the District the ownership
of all municipal street railways. expects
TO obtain action by the District Commit
tee on his bill before March l.
This became known yesterday. when it
was learned that Mr.. Crosser. as chair
man Of subcommittee OF the District
Committee, which has been conducting
hearings on the bill. virtually is ready TO
write his report for the full committee.
Following discouraging series of at
tempts TO ascertain from street railway
officers fair estimate of the cost of the
physical plants involved. the Ohio mu-
uicpal ownership member has decided to
he guided i'm his report by comparisons
with other cities. The report, in favor
ing the immediate enactment of the
Crosser bill. will emphasize the follow
ing conclusions. reached as the result OF
the Crosser Investigations:
That with municipal ownership the
patrons OF Washington street railways
could ride for from = - to cents trip.
this fare to include universal transfers.
OvercnpitnIIzat Charged.
That under present conditions the
patrons of Washington street railways
ar" paying dividends on gross overcapi-
talization in both companies. an over
capitalization which. in the case of the
Washington Railway and Electric Com
uany. amounts to nearly, il not quite.
- Tor cent of the total.
That the immediate enforcement OF
the Washington Railway and Electric
ompany from the Potomac Electric
Power Company is essential to a fair
L.'luatiOn OF either company.
These findings strike only the high
spots in the Crosser report. Much
space will be given to the findings as
Ia the Washington Railway and Elec-
trio Company. which gave the probers
no end of trouble in ascertaining the
physical value of the company's plant.
The report will seek to make generous
allow ances for the values in doubt. and
still leave a difference between the
capitalization of the company and its
tangible assets of about S15.OOO.OOO.
The report will allow about S1l .0OO.
zoe for all classes of construction work,
rolling stock. buildings. and machinery,
and add to this g. 600. 600 for the cap
ital stock of the Potomac Electric
Power Company held by the railway.
The difference between this amount
and the S3l471.35O at which the COM
hold. represents water which has been
injected into the company in the course
of several reorganizations and ref
uancings.
Capital Traction Figures.
Tho figures for the Capital Traction
COMPANY will be more definite. as the Of
ficers Of this company were able and
willing to give the investigators Very |
definite figures upon cost of construction. |
The report will hold that this company, !
too. is much ovorcapitalized. though the
criticism will not be so severe as in the
case Of the other corporaticn-
Representative CrOeser expects to re-
sumo hearings tomorrow. when several
officers of the Capital Traction Company
win complcto their testimony. Following !
this 2 brief examination will be made |
into the affairs Cf the Potomac Electric |
Power Company before the subcommittee |
,cnnr,s to the fun committee. Mr.. Crosser |
said yesterday he expected to complete !
Ills report next week. and the probability !
x th~t the hill will he before the full |
su-nmittc., shortly thereafter. though il |
..-uI,~bIv will hc referred imediately to /
the District commissioners for eXamin- |
alton and report.
F,XceDt that it NAV conflict with plans |
I,cld hv tho Commissioners. the measure |
ryouId b" fairly certain Of friendly re- |
rpption At The District Building. Its re-
option bv tho fun House Committee |
however is not So assured and its |
ranccs "f q favorable report certainly |
are no better than even at the present
writing
REPRESENTATIVE Crosser's bill. provId-
'...- fo~ municipal ownership of public
Utilities was discussed at q meeting be |
. 60" its author and Corporation At