The Washington times., 1921-02-26
WOULD RETAIN
PRESENT FARE.
q
W., R. & E. Asks Extension of
Existing Rate for Both
3 Traction Companies.
PEPC0 Is ALSO SATISFIED
Electric Light Corporation Feels
1t Should Be Allowed
8 Per Cent.
PEPC0 is ALSO SATISFIED

Petitions asking that the present
street car fares and electric light
rates in the District Of Columbia be
continued were filed today with the
Public Utilities Commission by the
Washington Railway and Electric
Company and the Potomac Electric
Power Company.
In the petition for the continuation
of the present street car fares. the
Washington Railway and Electric
Company also makes plea that the
Capital Traction Company be allowed
TO continue the present fares cents
or four tokens for 80 cents.
RATE NOW IN COURT.
Tho present rate remains until
March 81. unless tho Public Utilities
Commission before that date takes
Solne affirmative action. II the com
mission should fail to act before that
time the street car fares In Wash-
ington would go back to cents.
The same condition applies to the
furnishing Of electric light and
power. Private consumers in Wash
ington are now paying the company
at the rate Of az cents rer kilowatt
hour. II the commission does not
take affirmative action. the rate will
go back to cents.
The consumers at present. how
ever, are paying 10 cents per kilo-
watt hour. but " cents is being i'm
pounded by the court pending the
outcome OF the suit by the company
to compel the commission to allow
them a 10-cent rate.
NEW FISCAL PLAN URGED.
In the petition asking for a con-
tinuance Of the car fares in WASH
ington, the company says that 1t Is
only making 4.98 per cent on the
value placed on the property Of the
company by the commission. The
petition goes into the history Of the
proposal to have Congress senact leg
islation that will change the basis
of taxation Of the local street rail-
way companies from one based on
gross receipts to one based on oper-
ating income and to relieve the street
railways from the burden OF main
tanning street crossing policemen.
The petition says in part:
For the Information of the COM
mission, we have prepared and at
tached hereto, statement showing
results of operation within the Dis
trict of Columbia Of the Street Rail-
ways making up tla said Washington
Railway e. Electr., Company's Sys-
tenn for the period of eight (8) months,
ended December 81, 1920. from which
Il will appear the operating income
available for return upon investment
FOR this period was 559,401.53 or an
estimated annual operating income of
$3.50, 9,102.30. which Is return of 4.9S9o
on the value placed on our properties
within the District of Columbia by
the Public Utilities Commission. with
.ubsequent additions thereto ($16.S73.-
S3o.ss).
There IL included in the above COM
putation an actual expenditure for
maintenance of ways and structures
of S690,219.64 in addition to the
charges for Depreciation as ordered
by the commission Our estimates of
expenditures for the necessary up
keep of the property for 1921 far ex-
coed tho actual figures for 1920.
In our application of November 80,
1890, we estimated that there would
be . reduction of 40 in the volume
Of traffic carried. Tho results from
November 1, 1920 to date Indicate that
our estimate was approximately cor
rect
WANT g FER CENT.
II is further submitted that the
money conditions existing should be
considered in connection with the
rate of return to be allowed on the
fair value of the property OF the
ytreet railways herein mentioned as
round by the commission, and that
the commission should take into con-
sideration tho returns upon securi-
ties free from risk which now yield
Mt least per cent
The cost to the applicant in OBJ
tanning necessary capital is a factor
and IL is respectfully submitted that
a fair rate Of return to the appli-
can't. as aforesaid. should not be less
than 8 per cent. and while at least
such a rate of return is necessary in
the public interest to enable these
companies to maintain an unimpaired
credit to meet tho present high oper-