National Republican. (Washington City (D.C.)) 1872-1888, 1875-12-14
WASHINGTON AND GEORGETOWN Rail-
RnAn

We understand that an effort will be
made by the New York stockholders of this
company to change the management of the
road at the annual election in January. In
common with the best citizens of this Dis
trict we hope that the other stockholders
will unite and prevent this result While
this road was under their control formerly
we had nothing but complaints from the
local press and the people. The road
was so extensively managed that no divi-
dends were paid from its earnings, and it
was compelled to borrow the money to pay
the dividends that were made. With the
accession of Mr.. Hurt to the presidency
the salary of that officer was reduced from
$4,000 to 1900. In all the other depart
ments of the road reductions were made
and the strictest economy practiced, and
the results as given by three of our best
citizens-Mr. Glover, of Riggs & Co.; Mr..
Edward Temple, vice president of the
Bank of Washington; and Mr.. Leonard
Whitney, manager of the Western Union
Telegraph Company-show the importance
of maintaining the present management.
They say:
1. We find that Mr.. Hurt, president of the
road since the LIST of October, 1874, succeeded
to his present honorable position, through the
various grades of promotion, from the humble
position of conductor some eleven years since.
This, to our minds, is evidence conclusive that
he performed his duties we'll previous to his
election as president.
2 The financial condition OF the road, October
L follows.
Floating debt. s16,ss2 %
Bonded debt, exclusive Of mortgage. 5000 90
$3.50 %
g The present financial condition is as
Floating debt, extinguished. g. .a ira.--
Bonded debt, exclusive OF mortKage... 1000 90
Reduction of debt in fourteen months. 2sss2 25
l. The following payments have been
made out Of the net earnings during the
Interest on floating debt, 10 per cent? l,2OI %
Two snow sweepers purchased in No
Dividends (s) 5000 90
sylvania avenue, asa tons, net COST. Is 924 go
Hay, (winter stock,) 500 TONS q s20..... 10000 90
Track lumber, 40 600 feet, a $2l......... $40 90
112,2ss %
AverSge proft per month. ............... SOD A
5. We; find, also, that new work, in the line
of construction, by direction of last Congress,
to the extent of about one mile of double
tracks, has been done during the present year,
for which no allowance is given above, on ac-
count of the difficulty of obtaining the exact
amount by separating items from charges for
general track repairs.
6. We find the road, in all its appointments
and equipments, in the finest condition ever
known TO US, having been residents of the city
since the date of its organization.
The above conclusions leave us to search
beyond any facts connected with the present
administration of the company's affairs to as
certain the cause of the intended removal of
any officer of the company. This, as business
men, we do not think it necessary to do. The
present administration is very popular one
with the citizens of Washington, from whose
patronage the road derives its principal sup
port, and we feel assured that any change in
the direct management will be productive of
little good to the stockholders of the road.
1t appears that sound palicy in the man.
agement of the affairs of the company
would dictate the acceptance by the stock
holders of the recommendations of the gen.
tlemen quoted above. If the property is
to be managed in the interest of the public
and the stockholders combined, if their in
terests are identical and dividends are to be
earned and paid, it is clear that the present
policy should be continued, and that these
officers who have done so well should be
retained.