National Republican. (Washington City (D.C.)) 1872-1888, 1875-12-21
wAsHING1 on AND GEORGETOWN. RAIL-

were nOIueu THAT the new 1OIk parties III
interest were endeavoring to revolutionize
the present management and reinstate that
of New York, which formerly proved so
disastrous to the interests of the stock
holders. In that article was embodied the
statement of some of the most experienced
financiers and business men of the District,
exhibiting the economy, efficiency and
wisdom of the present management OF Mr..
Hurt.
Below we present a letter, recently
written by Mr.. S.. L. Phillips, formerly
for few months president of the Wash
ington and Georgetown RailN ay Company,
and addressed to his friend and patron,
Mr.. Henry Hart of New York, who also
preceded Mr.. Phillips as manager of that
enterprise Mr.. Phillips, it will be seen,
now signs himself as the president of the
Third avenue IN. " railway, a position
which he is supposed to owe to the great
influence of Mr.. Henry Hart, the street
railway king of New York. Il has been
widely distributed among those stock
holders of the company whose consent to
IuO IL hOPSN W
However, the intrinsic merits Of the letter
will be made more fully to appear by some
comments which we propose to make upon
its several paragraphs, and by some com
parative statements with which we shall
supplement it. We hope that not only the
stockholders, but the citizens of the Dis
trict generally, who are all deeply inter.
ested in the success of this enterprise as q
credit to the business community, will
give these documents careful perusal:
"NEw YORK, Nov. 10, 1875.
"HenIy Hart, ESQ.,, Eev York:
"DEAR SIR Understanding that certain
parties are DESTROYS of making a change in the
board of directors of the Washington and
| company, in which l am largely interested,
may lose your valuable services as director,
beg leave to express to you my most decided
opposition to any such STEP"
1.-THE large interest herein made. known
is one hundred shares of stock, worth
5000. and the change in the
board of directors was first proposed
by Henry Hart.l
"For many years that road has been most
miserably managed, the victim of incompe-
tency on the part of many of its officers and
embellishments of many of its conductors and
drivers, until its cars became wrecks, its tracks
worn out, and overwhelmed with Indebtedness.
To you, sir, more than to any other man be-
longs the credit of reviving its lost fortunes.
Since, too, it has entered upon career of pros
perity. To you alone, in opposition Of the en-
tire board of directors, belongs the praise of
preventing those in charge from involving
hopelessly the road in debt for entire useless
expenditures"
1.-THE road was managed exclusively by
Henry Hart from January, 1868, to April,
1874. and by Samuel L. Phillips from
April to October, 1874. Since that time it
has not been managed exclusively by
either; but by the board of directors, with
controlling voice in Washington. The
consistency Of the above paragraph ought
to be fully appreciated by all the stock
holders who are familiar with the facts
and know that the New York president
received SIC, 900 per annum, and the vice
president, Henry Hart $500 per annum, for
their splendid management. during the
aforesaid period, while the stockholders
during the last two years received nothing.
The latter part of the paragraph, which
reads, ito you alone, in opposition of the
entire board of directors, belongs the praise
of preventing those in charge from involv-
ing the road hopelessly in debt for entire
useless expenditures, reflects a degree of
credit on the few well. known citizens of
Washington who are members of the board,
which is truly refreshing to those who are
most intimate with them. A few letters
from the same gentleman to others on the
same subject, not entirely consistent with
the above, will be given in a short time.
"You largely were instrumental in prevent
ing an smalgamation of the Washington aud
Georgetown Railroad Company with the
Metropolitan Railroad Company, which would
have been confscation of our stock and valu-
able property"
This proposition was never seriously en-
tertained by any one connected with the
Washington and Georgetown Railroad Com
pany; nor could it have been accomplished
except by majority of the stockholders of
both companies.
"You vigorously opposed the purchase of
real estate at high price for stables and q
further mortgage for their erection, when the
road was still groaning under Indebtedness and
had declared but two per cent. dividend in
Mr.. Harris New York administration Sand
by your Efforts alone this project was de-
feated."
ALMOST the first act of the gentleman
himself, after his accession to the presi-
dency of this road, was the arrangement of
a conference with Mr.. Weaver, of George
town, for the purpose of negotiating for the
purchase of the butchers market property,
in Georgetown, for the aforesaid purpose.
Another letter from the gentleman on this
subject will be given in due time.
"You are now opposing, and hope will be
successful, the purchase of land at the navy
yard for other stables, when by exercise of the
smallest judgment and the expenditure of not
more than 500 the company may save the ex-
pence Of fifteen to twenty thousand dollars-at
q time, too, when creditors to the extent of
some So, 900 are wanting their money"
1.-THE aforesaid proposition to purchase
was first introduced in the board by the
gentleman's father, and was really con-
CURED in, as being wise measure under
the circumstances; the expenses 10 be saved,
however, as given by the gentleman, are
little erroneous. The lot in question, with q
hree.story brick house, was offered for
81, 800, and the whole costof stable complete
was not expected to exceed 5000. The
reckless managers ofthe company were will
ing to spend this sum to enable them to put
more cars on the Avenue line for the better
accommodation of the travelling public. We
hope that same public will place the credit
for their extra cars where it properly be-
longs-to the account of Henry Hart and
Samuel L. Phillips, whose liberality is best
known to their immediate acquaintances.l
81 hope that all the stockholders having the
good of the company at heart will sustain you
In your efforts to manage the road for their own
good, Just as in times past, when you, as
vice president, received q salary Of $500, and
did not attend q single meeting during the
entire year, but had the same salary abolished
when you became ez ofieio. Your motives
are entirely disinterested,# and no benefit can
result to you which is not equally participated
in by all the stockholders in common.
with great respect, yours truly,
"SAMUEL L. PHILLIPS,
Formerly President w. and G. r. r. Company,
now President Third Ave. r. R. Company,
Ynrt