The Washington times., 1916-12-29

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With ', = All, |. n. Information to be under
| ysrinties Dse - Growth.
Mr.. Ham sAid that the tables would
check up without any further. explain
TIE e99uniel then turned to Z table
| calculate annual rate OF return"
II am at loss to know what that
! means" he said.
Mr.. Ham corrected the title in
which he said the word Interest"
was a typographical error and should
have been cost or Investment"
Tf you take your own ngures,
years preceding 1914, the average
working capital 10 approximately
s32b, 1000, or 100000 less than In the
fat years. IL there ans. justification |
for such radical difference from
year TO year."
Mr.. Ham said the growth Of the
business had made the increase
necessary.
Mr.. Ham said that on June 40, 1915,
sfSso theh GoVtfVVV Whn uut tnt tVm-
pany from consumers, more than ever
before, and about 100000 more than
In 1914. He. then asserted that the
company was enabled to do business
In previous years on q smalled work
ing capital because IL could borrow
from the Washington Railway and
Electric Company.
ssnsrter Figures Questisned.
Commissioner Kutz asked whether
all tho sangster figures on physical
valuation, which had not criticised |
were admitted to be true.
by no MEANS" the witness said. |
I'VE do not admit that any items for
transmission and distribution which |
Mr.. Ssngster eliminated should be
eliminated. We have not only main
tanned these systems but improved
them.''
we do not know that some apps-
ratus has gone out of commission. But
II remains in our property account
because we think 10 was necessary to
the development of the business"
Commissioner Kutz then questioned
Mr.. Ham closely about records of tho
company, showing what proportion OF
It's conduits had been laid on streets
with fixed pavements Mr.. Ham said
no such records had been kept He
said that IN th items relating 20 lay
ing conduits each included an allow
ance for relaying nxed paving. Com
missioner KutE Inquired whether no
know what proportion OF the con.
Quits wero under nxed payemnts. Mr..
Ham said he did not.
A. Price Of ofaee site.
Commissioner Kuts asked tho wit.
ness 10 state the price for which Ger.
tain property In square $50. the ioca.
ton OF the Offices, had been bought
recently.
Mr.. Ham said he ala not know the
price. but would md out. The pur-
pose OF this question was motif brought
ouut at the hearing.
adjournment until January q at 10
o'clock.
s42syooo Itss In Question
For moro than an hour yesterday
afternoon at the valuation hearings
OF the Potomac Electric Power Com
pany.. Conrad syme. counsel for the
Utilities Commission. sought 10 gain
an admission from w. y. Ham that
an item Of $4,000 charged against
construction really was used TO re-
tire honda
Later Mr.. syms turned TO properties
of the Potomac Electric Power Com
pany and endeavored 20 show that ,
they were used also by the washing.
ton Railway and Electric Company
and, therefore. should not appear In
the PotomAc compsny's figures.
How about the property at Four 4
teenth and n streetsf" Mr.. syme IN
auired. who uses hstr' q
almost wholly the Potomac Com
pany.- Mr. Ham ssid. The railway
company has a few Offices there
what proportion 10 used by tho
Railway and Eieotriof"
Mr. Symo persisted.
''well, when an ofnesr 10 serving .
both companies u 10 hard 20 cay 90
which his ofnee room should be
charged" Mr.. Ham said.
-Ah there you have hit upon the \
whole difficulty" Mr.. syme said. amid
laughter.
Mr.. syms inquired closely into an
Item OF s2.T00 representing cost OF
stock In an electrical testing com
pany. Mr.. Ham described this as an
Investment In lieu OF an investment
In physical property.
"But you set down s2.T00 for stock
which cost but $3.50 20 start with. on
which you have realised 5000 al
ready, and are getting q 10 per cent
Mr.. syme said.
stock In Lieu Of Divtdsads.
Mr.. Ham said that additional stock
rad been given the Potomac Com.
oany in lieu OF dividends, and that
while this was dhargsd against con.
'truction the added income was taken
are OF In the income account.
In response 20 Mr.. Syme's Questions III
.bout bsttermenta replaesment. and II