The Washington times., 1919-09-03
VALUE Of CAR
LINES NOT Up
TOESTIMATES
W. r. & {. Worth Only Half
sum Claimed, Report Ex-
pscted to State.
D. BILL PRICE.

shortly viii take up the long-pend-
ing sppiication OF the washington
railway and Electric Company for
further revenues to meet its oeclin-
ing finances.
have been purposely deferred by the
Commission Until the completion Of
the valuations Of the properties Of
the two street railway lines Of the
District the policy OF the Commis-
sion being hereafter 70 fix Fthe re-
turns the roads shall be allowed upon
the Valuations.
The valuations, after nearly five
years OF study and hearings. may be
finally announced tomorrow; certain
" within q few days Tor several
months, members OF the Commission
have been working extra hours, in
cluding nights. TO facilitate their
fIadinga. and they are about READY
With their conclusions.
When the Commission granted the
roads the right 70 collect ? cents on
transfers, it was announced that the
tentative physical valuation OF the
W.R q =. properties would be about
sI6.000.00O. From the best informa-
fion obtainable, that valuation is not
% be increased; and may be slightly
decreased.
CAPITAL Traction Values.
As to TIE Capital Traction. an
aFreement vas reached more than
year ago upon the valuation Of the
nain properties Of the company. That
was liked e something ever &I0,ooo,-
O8e with . number Of points IN dis
frte. The c1eaFfng MP Of these points
haH been TIE Issue before the COM
Iaafon. The phNEical valuation OF
W someWhsro nsar EI2Joo0. .ooo. Al
tftrgh that Was not de6niteiy settled
fodGE.
A unanfmous finding IS not looked
lcr q 20 eithaF Of the roads. Com-I
Enioner Gardner has for some time
on at variance with the two other
mbers as g All the elements Of
Value that should enter into tie total
an6iueE. he has been disposed 70
eoncsde higher aEure 70 beth reads.
ne ". y. Z = claims q TEAL Valua-
ten of oVDE SSosoooy yooo. or closs %
itg total capBai stock and bonded
dabt
GsAg - the oouts.
without the least doubt the road
win p-omptly appeal from the ind
tng8 of the commission and lay its
claims before the courts. The phyEi-
eai valuation. as finally determined
hg the courts, g. Of great Importance
- stockholders Of this line, and also
ef the Capital Trsction.
On the basis Of q SI5.000,o 600 physi-
eai valuation for the W. R & &, for
Instance. the commission would at
- mnnar-F - =
cert, or $500, 900 each year. The com
Mission has been seeking to adjust
the revenues to this return for
months; but Officials Of the road
claim that their net revenues have
fallen short OF this more than SSOo.-
90 q year. causing them great hnan-
eiGi distresG
II the commission axes fares IN
WaEhington 50 there viii be returns
- 100000 q year, this win allow very
little net revenue after the interest
on the bonded debt Of about SIs, ,O00,-
900 o. paid: 80 little that there win
be practically nothing for the stock
holders whatever revenues there
may be Tor preferred stockholders
must come from the net earnings Of
the Potomac Electric Light Company,
sWned By the ". r 4 z. It is
claimed. though. that the net earnings
of this company are constantly de-
creasing.
Although collecting a 10-eent kiIo-
watt charge from electric light users,
the Potomac Company s. having 70
impound 2 cents Of this pending the
outcome Of its appeal from the action
of the Utilities Commission over two
years ago IN reducing the charge from
- cents 70 cents. The railway
company has a number Of times intE
a. - n--H
10 cents without restraint upon any
portion Of IL, this would greatly help |
20 meet their financial difficulties. |
Something like $500 900 each year IS /
thus impounded.
Both the company and the utilities |
eemmission have long hoped for q de-
eision Of this matter By Justice Gould, /
of the District Supreme Court. This 1
decision might have much influence |
uPon the whole utility situation.
TIE Percentage of Return.
in the decision made ia July. 1917,
reducing electric light rates, the utiii-
ties commission decided 20 allow the
electric company q return Of per
cent on the valuation Of fits properties
then announced. This valuation and
The reduction in rate e. still before
Justice Gould The company claims Il
q not making per cent
That was before the war upset
prices and hoisted the cost OF living.
IN later deciEions on car fares and
gAa rates. the commission agreed
that IN times Of stress the public
utilities should share part Of the bur-
oens with the public. and reduced the
percentage Of returns to be allowed
utlities TO per cent on valuations.
The gas company q few days ago
pointed out that its return upon the
Naieeti9n made Of it's properties is
about per cent, ! per cent less
than the wartime rating fixed by the
commission. To obtain a 8 per cent
return, the price OF gas 70 the con-
Eamer Woqid have 70 be about 81 per
thousand ne present rate, which
she eompsnT asks 20 have continued,
is 81 cmtA