National Republican., 1883-11-20
Sketch Of the Road Which Girdles q Section
Of the City.
The Men Who Originated It and Have
Successfully Carried 1t on.
It's Extent Of Tracks, Cars, and Stock-Is Earnings
and Dividends.
Tho Extensions TO the Original Line and
Their Usefulness.

its zone many important public buildings
and localities not.directly impligned upon by
other lines. In spite of the prophecy that
such an enterprise could only ultimate in
failure, the company was organized and
charter obtained March 3, 1875. Revised
statutes, 49, chapter 161.
The following named persons appeared as
incorporators: Joseph Williams William j.
Murtagh, Hallet kilbourn, B. f. Fuller, w.
J. Cowing, s. s. Bond, William Saunders, q.
w. Goodall, G. A. McIlhenny, L. A. Bartlett,
and l.. H. Chandler.
The route granted was as follows: Com
mencng on First street west in part of the
capitol grounds and running thence due
north along said First street west to q street
north; thence west along q street north to
Fourth street west; thence along Fourth
street west; thence along o street north to
Eleventh street west thence south along
Eleventh street west to street north; thence
west along L street north to Fourteenth
street west; thence south on Fourteenth
street west to Ohio avenue; thence along said
avenue to its intersection with Twt fifth street
west thence south along said Twelfth street
west to Virginia avenue; thence southeast
along Virginia avenue to its intersection with
Maryland avenues thence northeast along
Maryland avenue to First street west, the
place of beginning. Prorided, That whereas
the foregoing route may coincide with the
route Of any other duly incorporated street
railway company in the district, or connect
portions of such route, but one set of tracks
shall be used by both companies which are
hereby authorized and empowered to use
such tracks in common, upon such FAIR and
equitable terms as may be agreed upon by
said companies; and in the event the said
companies fail to agree upon satisfactory
terms, either Of said companies may apply by
petition to the supreme court of the District
of Columbia, which shall provide for proper
notice to and hearing of all parties inter-
ested, and shall have power to determine the
terms and conditions upon which and the
regulations under which the company hereby
incorporated shall be entitled so to use and
enjoy the track of such other street railroad
company, and the amount and manner of
compensation to be paid therefor"
Sec, 2 provides for taxation, license of
cars, &C.; sec. 4 for paving between and out
side of tracks sin such manner and with
such material as may be directed by the
board of commissioners of the District of CO.
lumbia, and if there be at any time no such
board then by the secretary of war, without
expense to the United States or the said city"
Sec 8. That the capital stock shall be not
less than 100000, nor more than $500000, in
shares of $50 each.
Sec. 10. That purchase of real estate for
Offices stables, &C., shall not exceed $500, ,000
Sec 12. That no individual shall be allowed
to subscribe for more than 200 shares of stock,
which shall be paid in installments Of 10 per
cent. of par value.
Sec IA. That the directors may call the
additional instalments in such manner and
amounts as they think proper. In default of
such payment, said board may sell at auction
sufficient stock of the delinquent stockholder
to pay the unpaid installment, or may sue and
collect the same in any court OF complete
jurisdiction.
Sec. 10 contains personal liability clause.
Sec 90 provides that annual reports of
expenditures, earnings, &C., shall be made to
congress.
In its remaining features the charter does
not differ in any material respect from that of
the other roads.
The original stock was subscribed for by
over 200 persons in amounts ranging from
single share to 200 shares. Many subscrip-
tions were made by property holders along
the proposed line, with view of helping the
enterprise, and with little hope of reaping
benefit otherwise. In this way about $500
shares were issued, payable in installments,
until $lS per share had been paid This has
subsequently been increased by additional
issues for the purpose of extending and equip
ping the road, until nearly the full compile
ment of 10000 shares had been reached.
From 1876 to 1880 or thereabouts there was
a halt in the great march of improvement,
which had been interrupted by the panic of
1873. This was not conducive to the success
of the new road, and it likewise found itself
hampcred by rs many changes of management
rs existed at times in Mexico.
The first president, George A. McIlhenny,
.,fought to the work great native talents and
energy, but on his departure upon trip to
Europe he vacated the position and was sue
ceeded temporarily by VIM. Saunders, who in
turn gave way to S. X. Bond. and he later on
to Edward Temple. Meanwhile, from lack of
patronage and various other causes, the road
ran down hill until the stock was drug at
Z al tlAuA
great fears among the stockholders that
further assessments would be made upon
the stock. About that time, however, it
began to be surmised that the road pos
sessed greater possibilities and merits than
had been commonly supposed. The stock,
which had been scattered broadcast in small
lots, meantime became concentrated in the
hands of fewer holders and stronger men,
who interested Themselves in the manage
ment of the property and the development of
its resources. Fighting their way step by
step, the managers succeeded in stemming &
the downward course of the road, and placing
IL upon firm foundation. The stock rose
from Sl2 to $40 per share in an incredibly
short time, and this in the face of the fact
that some of the shrewdest holders had sold
their shares, and considered themselves for
tunate in getting rid Of them.
This era of improvement set in shortly
upon the election TO the presidency ofCharles
were ably seconded by one Of the most capa-
BILE board of directors ever possessed by the
road. The natural course Of business, too,
was in favor of the new management, for in
the fall of 1870 the great revival of confidence
throughout the country had begun to stimu.
late business here aud put new building enter
prises in operation.
One of the notable events which occurred
during the carer pottion0 Atr. Whites ad .
mnstration was thepnstituiion Of the inter-
exchange ticket system on all railway lines in
the ci y. THIS needed innovation was due to
one of the younger directors.
When the bureau of engraving and
printing approached completion tho Belt
road was anxious tn gain access 10 ii. aud was
opposed ia its desire by other interests. One
OF the most pathetic scenes ever witnessed in
tho capitol was the assemblage OF railway
notlbes on that occasion before Il con
gressiOnai committee, each pleading his own
cause. "Mr. Chairman, IL would be an ont
rage for poor clerks TO be compelled to pay
double fare ~ exclaimed one president. "a
pretty looking philanthropist, YOU arai" re.
torted the venerable Belt line presidf fnt.
After much discussion aud mutual concessions
a compromise was effected by which pas
sengers from other lines were to be carried
from Pennsylvania avenue TO the bureau for
. cents, aud the Belt tracks were thol laid,
while az the SAM time the tracks were carried
down to the steamboat wharfs from another
point and out Eleventh street northwest to