The Washington times., 1914-06-02

Angered By Question.
up TO the time you became Corpora
ton Counsel. however" said Congress
man Winslow. YOU had never seen iii
to tell your wife that she WAS holdinS
stock In damnable enterprise That
was cheating the public:"
THAT Is an improper question aud {
decline to,answer it. SIR said the Cor
poration Counsel. Coloring and glancins
an-rily at the Massachusetts, member.
Very well. YOU may do so. I'll put it
another way" rctorted Mr.. Winslow.
You have, said tho acts of those af-
fccting this reorganization were bad,
and yet you admit that YOU held on to
your stock and your wife held on to
her stock in this concern until You be-
came Corporation Counsel, when you
had to sell it?'
II admit nothing said Mr.. syme.
stock and then sold it
AS Corporation Counsel you are ac-
Customed to weigh evidence" suggested
Mr. Winslow, in unruffled tone.
Yes. and I'm weighing it now," said
Mr.. Syme. who was still worked up over
Mr.. Winslow's questions.
$50 am j.. said Mr.. Winslow. That S
a nice answer"
Take Up Other Subjects.
The questioning then turned to other
subjects. Mr.. Winslow wanted to know:
Suppose the street railways fell into
the hands of the District and the Com
missloners, for whom you are counsel.
and IL were necessary for you to advise
them in the selection of a general su-
perirtendent who was a man avowedly
opposed to municipal ownership and the
coIGmission form of government, what
wcult you do?"
II would have TO consider that largely
from the standpoint or the personal
character of the man." said Mr.. Syme-
II would not challenge the proposition
manage the street railways for the
c ty. although opposed to that principle.
but ! would prefer to have a man in
sympathy with the idea"
Congressman winslow asked how
many orders the public utilities commits
sioner has issued to. the two street
railway companies Of the city. Mr..
Syme did not know the exact number.
but said he thought order No. q, re-
latinE to schedules and sanitation, was
the most important promulgated to
date.
Stands Pat On Valuation.
In opening his statement today Mr.
Syme did not back down on the asser-
ton made yesterday that he regarded
the true value of the Washington Rail-
way and Electric Company at about
5000, 600. This valuation was challenged
by President King. Detailing the re-
organization. Mr.. Syme said the stock
had been manipulated by brokers, and
the value was a made value"
Congress had authorized a SIS. .coo, 900
issue. said Mr.. Syme. and as the COM
Of nd he
preferred 80 to s. he regarded the solid
valuation at about 5000 600.
The Corporation Counsel expressed
doubt that IL would be possible to
DIV orce effectively the Washington Rail-
way and Electric Company and the Po-
tOnIac Electric Power Company. The
affairs of the two concerns. he said. are
so intimately connected that it would
be extremely difficult to break up the
relationship. The street railway COM
pany. according to Mr.. Syme. pays
dividends largely out of the earnings
from the electric light company.
wheE asked IL the company would re-
gard the passage of the Crosser b
as an Endorsement by Congress of
municipal ownership. Mr.. Syme said he
thought not.
''The District is the ward of Con-
Sress." he said, and whatever Con-
Gress does here is regarded rs done
locally
Mr.. Syme said he did not think there
is any connection between the street
railways and the gas companies, add
ing that the latter have too good a
thing to want To divide with any one.
Second Clash Comes.
The corporation counsel provoked an
other set-;o with Mr.. Winslow when he
said that the time for the city TO take
,,rI,n he aIa
ment of risk has gone. The element.
he said, has departed in Washington,
and advocated the municipal ownership
of the street railways, gas and cleo
trio lighting companies.
You woGId take them over when
they begin TO make a profit. and make
the private corporations the goat for
the public" said Mr.. Winslow, dis
approvingly.
Mr.. Winslow asked what Mr.. Syme
would do with the small stockholders.
You say there is water in the
stock" said Mr.. Winslow, referring to
previous testimony. now do you
think Congress should do anything
that would make valueless the stock
of the small investor. who has in.
vested in good faith? What would
happen to the small stockholder II
YOU take over all this water; would
you deprive him Of the chance OF
making something. possibly, on his
small holdings
THAT is a very difficult question. said
Mr.. Symc
If it is fcr IT, general interest Of
til, pdblc that these public corporations
should be operated by ;ht publi'. then
think We should look out for the
man in other word; oriu:c about the
greatest good to the greatest number.
Then the people who bought this
stock with ;hcir SavinSS-th" small
Stockholders have cot to suffer when
You take over thess waI"rCd conlpsn-
iC> "' asked Mr.. WinSlow.
Yes, il wC aid Se"m 50. TAeE must
suffer or the people. .rs "a "h"l". must
suffer- Mr.. sym" suggested there
might he = WY - suuc"sc nIt som" of
the water DURING tn valuation process
wEkTlIED DEEnpT