The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1919-03-04

serves notfIngI that 1t has brought fits
troubles upon itself.
But the broad question now staring
Washington people In the face Is
what Is to become OF the physical con
dition of the road; what will be the
future service; how greet will be the
public distress and interruption or
business IL something is not done to
bring about the building up Of
the properties? Naturally there
can be no building up when
there Is lack of funds or when the
funds are diverted to dividends on
stock.
Somebody Is gong to get hit in the
final sutsOms. The public has hero
t0fOre been tbs dog 70 be kicked around
by corporations. but the ETRVsst question
Of all fer The Public Utilities Commits
zion to consider II how deeply is the
public to be hurt In the future. In view
Of the steady depreciation in the physi-
cal usefulness OF the company and the
growing inability to improve service.
There will be many answers ready
10 this: Have Congress pass a law
turning all the street railway com
panies over to the District to be own
ed by the people bring about a merger
Of the two railway companies; have a
new company formed to buy out both
and operate as one f; do this or that or
something else.
BY the time any Of these things can
be done the service on the railways
lines, unless they are forced in some
manner to make improvements, will be
so badly crippled that a large part Of
the people Of Washington swiil not be
able to get to and from work
The sInN Of the Fathers.
Every welI-inforned man knows the
methods off frenzisd finance that were
pursued in this town by officials of the
Washington Railway and Electric Com
pany for a number Of years-the boost
ing of dividends on common stock 30
that II would reach a price IN the local
market ahead of Capital Traction,
thereby trying to force q merger OF the
two companies to the great and joyful
benefit Of large stockholders OF the
Washington Railway and Electric.
Unnecessarily high dividends, fat
salaries. all made up fine watermeIonS
to be cut when the leading lights
said to cut the fruit. The bulk of
this money should have gone into
physical upbuilding, new and better
cars, improved service, but 1t did not
Bad management has brought about
a situation loaded with dynamite
from a hundred angles.
Is Congress at all likely to au-
thotize municipal ownership? Not =
chance in the world for years to
come, unless car service here becomes
so worthless that an outraged pub.
lies indignation may have some ia
huence.
Is there a probability Of a merger?
No chance in the world as things look
today.
The Measure Of Relief.
1t is almost as certain as anything
in human life can be that the Utilities
Commission will not authorize any
financial relief 10 the Washington
Railway and Electric Company that
will enable that company to continue
to pay dividends on common stock,
and II may not arrange the revenues
so that preferred stock will get is
regular 8 per cent dividends.
The board of directors OF the corI-
pany. however, prefer that action Of
this kind shall be forced from the
commission. The directors take the
position that for reasons Of credit and
protection OF financial and other in
terests they are compelled to pay this
dividend so long as there are fun'is
to do it with. The last payment, a
few dayssago. Was from the surplus.
which members OF the commission
believe should be used only for up
building.
AS fast as possible the commission
is hurrying its proceedings for the
IL
road So that It can fx rates and
charges from the public that will pay
reasonable returns upon this valua-
ton. There is every evidence that
the valuation will be placed at a fig