The Washington herald., 1922-06-06
Interests Would Lease
Car and Light Plants
For so Years.
WOULD REDUCE
ELECTRIC RATES
Scheme Is Part of Big
Project to Develop
Great Falls.

A scent carfare. with universal
transfers; s0-cent gas, and lz-cent
electricity in the District for fifty
years is the guarantee accompany
ing an offer about to be made 70
Congress by' one of the strongest
financial interests in the country. it
was learned in legislative circles
yesterday.
The project. according to attorneys
of the interests who have been be-
fore members of Congress. is part
of an elaborate plan TO develop
Great Falls and the District.
To put the plan into operation it
would be necessary for the govern
ment to acquire by purchase or con-
demnation proceedings the proper
ties of the Washington Railway and
Electric Company, the Washington
Gas Light Company. the Potomac
Electric Power Company. and the
Capital Traction Company. 1t is
then proposed that the leasing COM
pany shall operate these various
companies and improve Great Falls.
with the nding that the
street car companies will charge a
scent fare, issue universal trans
fers, furnish commercial electricity
at the rate of ~ cents per kilo-
watt hour. and gas at the rate Of
so cents per 1000 cubic feet. 1t was
explained.
Would Extend Lines-
Through its attorneys the leasing
company has offered to deposit, as
directed by Congress. any amount
necessary to evidence good faith
and insure the government and the
people of the District against loss.
il was stated.
Members Of Congress have been
told that in the event these out Of
town interests acquire the street
car companies. lines will be extend
ed fnt6-nSarpy<States and-ehe fares
reduced in proportion to the reduc
ton made in the City of Washing
ton.
Representatives OF the company
making the offer assure legislators
interested in the proposition thai
the constitutionality OF the plar
has been established in other In
stances and the question Of securing
control of the various corporations
affected would merely require the
governments previous acquisition oi
them.
Backed by Rich interests.
According to the plan as explained
by a representative of the company
the stockholders in the various cor
porations would be protected against
loss and il was the impression OF
one member of Congress who has
attended some of the Caucuses where
the project has been discussed. that
stockholders would be paid of BY
the government should II decide tc
acquire the properties.
A member of the House District
Committee expressed the belief yes
terday that following the arrival OF
an attorney from Norfolk next week
bill probably would be introduced
as the first step to put the plar
into operation. He stated that hi
had made a personal investigation
OF the financial responsibility of the
company and found it to he backed
by one of the richest interests in the
world
Secrecy Surrounds Project.
Absolute secrecy has surrounded
the progress made by the proposed
project among individual member:
of Congress and not until yesterday
was there the slightest indication
that any change in the public utili'
ties in the District was being con-
sidered.
1t developed that ever since the
Woods bill to allow the street cal
companies and the Potomac Electric
Power Company to merge. was re-
committed following opposition ir
the House. based upon the fact that
the bill was not sufficiently drastic
these interests have been offering
members of the House District Com.
mitteA the plan to consolidate the
utilities corporations and develor
the Great Falls project as solu'
tion OF the street car problem.