The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-06-30
BELL
Tells Of
RATES
Utilities Commissioner Gives
Figures Showing Big Jump
in Company income

Reduction Of electric light and
power rates in Washington may
be taken under consideration by
the Public Utilities Commission
during the next month, it was in
dicated today by Major ]. Frank
lin Bell, District engineer COM
missioner.
Major Bell stated emphatically
that, in his opinion, the present
rates are too high and that the
Potomac Electric Power Company
is earning a higher rate Of in
come than the facts warrant.
Company's Income Jumps.
The net income Of the company
for the month Of May Jumped from
$91, $3.50 last year to $11s,42S this
year, according to the monthly re-
port submitted by the company.
This year the company paid a
dividend Of $4,000 for the first
three months, or at an annual rate
OF $4,000. Last years total divi-
dend was 100000. The dividend
rate increased, on the basis of the
quarterly dividend already paid from
10 to IA per cent.
There IL no corresponding Increase
In operating costs. the report
showed.
The Public Utilities Commission
VIII not entertain any thought Of
compromises with the company over
the valuation figures, which are
now the subject Of litigation before
the courts, under which. an i'm.
pounded fund Of little more than
3d. O0, 900 has been created, Major
Bell declared.
Decision This Summer.
Major Bell said that he expected
court decision on the matter dur.
ing the summer. He has been In
formed that the company will ap-
peal the finding, however, unless
the court finds its own valuations
correct and rejects those of the
commission.
In this case the matter win be
tied up indefinitely. It was also
rumored that the company would
seek a compromise, but this viii not
De considered by the commission.
The commission will not be in:
iluenced In any way by the action
OF the court In this matter" Major
5el declared. THE Public Utilities
commission cannot be swayed in
lLs decisions BY what the court may
CONSIDER q fair rate or valuation.
we can only fix the rate upon
our findings. When we have fixed
q rate 1t ts because we have made
q thorough study, and believe it the
most just rate to the public and to
tne company. We could not change
LnS1 rate 70 conform with a court
ruling ana feel that we were doing
our duty" he said.
New Rate Considered.
Tho Public Utilities CommisS,or
mas fixed ~ cents Der lsiIownff
hour as the fair rate of return i,Y,on
the valuation Of the property Of the
POTOMAC Electric Power Comnanv.
Ene company appealed declaring
this rate was too low. Pending the
settlement Of the case. the coIIrt
mas ordered that the Difference be-
tween the Public Utilities COMMITS
sion rate and the 10 cents now re-.
ceived by the company be i'm.
| pounded.
In case the valuation fixed nv
the commission Is sustained bv the
court, the impounded fund win he
returned to the purchasers Of cur.
In the opinion Of Major Bell.
II the commission should fix a new
rate next month, It will be neces.
sary Tor the court to isue a Acw
impounding order to cover the dif.
ference between the IN cents and
the new rate.
He expressed the hope that the
court would not delay its final AZ.
cision in the case, which ne IA.
clared had been pending too long
already.