The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-10-10
AN INTERESTING STUDY
(Cont.nusd from Pogo cEa)

then mako a generalization: more
detailed discussion t. necessary that the
enormtty Of tho Industry may we'll be
cnnprehcndcd, as well as tho way The
neoplc Of Yves; virginia have been held
up Ivy tho gas companies AID "protcct-
ed by tho Public Service Commission.
But before taking each OF the several
companies separately for financial ana
!yzatIon. it would be we'll 10 state that
there may be some material differences
In the figures published here and those
published in previous articles in this
series. Data for this article was pro-
cured directly from the 1920 tax re-
turns filed by the seven companies.
while the data for previous articles was
taken from supposedly reliable sources:
reports submitted 10 tho Public Service
Commission: reports made by the COM
mission; testimony ot Witnesses in rate
cases before tho commissions; exhibits
died Before the commission. exhibits.
reports and testimony IN the case Of
Pennsylvania and Ohio versus West
Virginia: L. S. Geological Survey, and
reliable publications dealing with the
gas industry. 1t must be remembered.
however. that In data obtained from
such sources. reliable as It may be.
,here Is tho possibility Of a difference
when the tax returns are Inspected.
The Hope Company.
We will now take up the seven COM
panles separately In tho order OF their
size. determined by the amount OF taxes
paid to the state:
Hope Natural Gas Company.
Capital stock, authorized. $40 900. 10000
Capital stock. Issued. .... 2o.0oo.0o0.oo
Funded debt ............ ..........
Dividends 1920 ...... 5000. cocoon
Total earnings ........... l?,l64.c60.So
Total expenses .......,... lh225.22s.79
Taxes (paid to state) -. G94.77o.s5
Cubic feet.
Gas produced by company .SS,2TIl610o0
Gas purchased from indie
pendent producers ..... 6.4Si4oo. 900
Gas exported from state. .4s,0l4,55l. 900
Total .................l o9.IA6,is.o
Territory held. developed. .Sos57l acres
Territory held. undeveloped.s93.Sa7 acres
Granted an Increase.
With such a showing as the above, In
conceivable as II may be. none the less
Il Is true that tho Hope Natural Gas
company was granted en- increase in
rates by the West Virginia Public
Service Commission on June 81, 1921. In
order to show on what grounds and on
what prediction Of expenses and rev"-
nue. the commission granted this in
crease. IL part Of the commissions de-
cree Is quoted:
accepting applicants eAr"ri"u"e for
the thirty months period from Janu-
airy |. 1915. to June GU. 1920. as fur
'nishing the best guide tor the future.
we make the following forecast for
the Immediate future as basis for
determining whether or not its pres
cnt rates are just. fair and reason
able aud such as will AFFORD II the
revenue It is entitled to have from the
operation Of It's gas business
Total expense ........ 81 6.6l4, 00n 90
Less estimated net earn
ings from gasoline &c.. 600.00h.00
Gross revenue required H6.hl4. 100000
Estimated gross revenue
from gas sales at present
rates f70.o6o0 nGo Gu.
feet at clcs centsl 49,. 1886. o00. On
----------
Deficiency in carntrEe.s l.llS.0nO0N
Cnmpe-e the estimates made by tNa
Public Service Commission and the ex.
nc, figures filed hv tho Hone Natural
,:,. ,or,rony n us l9on TAX return, and