Evening star., 1932-05-24
Commission Says New Cut
Would Have to Wait
on Valuation.
NET FOR FOUR MONTHS
| OF 1882 SHOWS GAIN
Figures 100000 Higher Than
Sum Reported for Like Period
Last Year.

| The report Of increased earnings of
the washington Gas Light Co. for the
| nrSt four months of 1882, in the face
OF rate reduction last March, stirred
speculation in utility circles today as to
the prospect OF another rate reduction,
but 1t was stated at the Uublic Utilities
commission that the reduction, if any,
would probably wait until after the VAL
| uatlon OF the company's property, which
Will be undertaken this year.
The companys financial report to the
commission showed that, in spite of the
reduced rates and the depression. the
April net SCARED S56,000 above that of
April. 1881, and that the net for the
better than the net for the first four
months Of last.
Valuing Traction Properties.
The commissions valuation force Is
now completing its job of valuing the
properties OF the Capital Traction and
Washington Railway g. Electric Cos,
The valuation of the gas company will
start Immediately afterward and is ex-
pected to be finished by December.
Chairman Mason M. Patrick of the
commission, said that valuation of the
gas properties was a much simpler
task than that of the car properties
and that the valuation could be COM
pIeted in five months. At that time
the valuation figures and the earnings
statistics will be reviewed, and what
ever action may be appropriate taken.
owing to the uncertain condition Of
adalrs as to the personnel of the COM
pany. the commission is not expect
ing any volunteer reduction at this
time. During the public hearings on
the last rate reduction, Gen. Patrick
suggested to George A. c. Wood, re-
cent resigned president of the COM
pany, that the gas company enter into
an arrangement with the commission
similar to that governing electric rates,
so that the rates could be automatical2
ly adjusted annually in accordance
with the company's earnings. Mr.
Wood expressed approval of the idea,
and 1t Is believed that he had concrete
plans along this line to submit
Rates Installed March 1.
The present rates were installed
March l Of this year on request of the
company. The domestic rate is ST. per
1000 cubic feet for the first 900 feet.
80 cents per thousand for the next 1000
ieet and % cents per thousand for all
in excess of 5000 feet.
cutting 100000 off the net earnings
per annum, but appear to be having
the opposite effect of increasing earn
ings.
To Weigh Alleged Violations.
The Utilities Commission is expected
to determine this week whether to
take any action against the board Of
directors of the gas company for al
legged technical violations of its order
forbidding voting of the majority stock
while held by its present owners
The alleged violations consist Of the
holding Of two meetings. one at which
George A. G. Wood was ousted as pres
ident and the other at which George
Weaver was elected acting president
and three new members were added to
the board
Maj. Gen Mason M. Patrick. chair
man OF the commission, said the COM
mission unlikely would make any move
until 1t receives a report from Arthur
Dean Of the firm of Sullivan & Crom-
well Of New York. legal representatives
! OF the interest controlling the gas COM
pany. Dean last week promised to sub
init to the commission report he said
would show that the present owners of
the majority stock Of the gas company
! would dispose of It in legal way and
a way which he predicted would meet
the commissions approval.
The commission expects Mr.. Deans
report IN few days.