National Republican., 1883-10-11
The FIRST STREET CAR LINE.
A Complete History Of the Washington and
Georgetown Railway.
The Money Invested, Dividends Paid,
and Property Accumulated,
The Schedule Of It's Tracks, Franchises Rolling Stock
Buildings, and Real Estate.
How tile Road Ia Managed and Operated
A Tax Question.


Georgetown railway or $l250 por share, was
paid in, as provided for by section 13 of the
charter, and S500,00O was issued in per cent.
bonds 10 build aud equip the Washington aud
Georgetown road. This payment was supple
mented in after years by another small cash
installment (74 per CONT and u script divi-
dend, after which the stock became aud was
declared full paid at par, or $50po share. The
first building and equipm ent was not of the
most perfect description, but it served the pur-
pose of the day, and was great advance upon
the methods of locomotion until then in
vogue.
So little confidence was placed by Washing
tonians in the outcome of this street railway
enterprise that the bulk of the securities had
to be negotiated outside in other cities, where
they continu ed to be held for some time. In
n comparatively short timo the original sub
scribers had their money back in dividends.
and the finan cial status of the concern passed
at one bound beyond conjecture or doubt.
The stables of the Washington and George
town road were first situated near the Balti-
more and Ohio depot, down steep declivity,
and were long an eyesore oven to that for
saken region. The early years of the corpo-
ration did not increase its immediate claims
to public favor. When the civil war broke
out an immense throng of camp followers
filled the city. The velvet seated cars be-
came filthy, loathsome, and pregnant with
disease and vermin. The management paid
comparatively little heed to public comfort or
convenience and there was always more or less
complaint.
In spite of all this, the first year, ending
July l. 1863, showed gross earnings OF
$249 16O.0S; expenses, $lS7, ,S3642, leaving
net earnings of SIG, 1886 and dividend of 8
per cent. The succeeding years produce the
following results:
Year ending July l. 1s6i-Gross earnings, $751;
S2l s2 expenses, s2Ss 52 net earnings s2sS6.3o
Year ending July /, lS65-Gross earnings s453,-
7sS 40; expenses $500 '6lO4s net earnings 81 S770
Year ending July /, iS6e--Gross earnings $751;,
1884; expenses S3i495s.40; loss, s3,77296 dtyi.
Six months ending May l, 1sG7-Gross earnings.
sl4e65O,ss; expenses, sl3i664.74 loss, s5,Ol3.S6;
YeSrendins Dec. 81, iS67-eross earnings $500.
0766p expenses $500 9S5 l2 net earnings, So l4l5I
dividend paid 4 per cent:
75,l6 ;lexpenses, s3ll,95l4S; loss, S5Ol3s6 divl-
d ,i paid 213 per cent.
9l503; expenses, s2S4,6s97s loss, s2,777.76 divi.
dcnd paid IL per cent.
ienr ending Dec. 81 ls70-Gross earnings, $751;
i ar ending Dec. 81, 1s7l-Gross earnings. s34i,.
7176; expenses 5000 OoS,74 gain, s5,74202 Divi-
g." 70 pnid, per cent.
Y.ur ending Dec 81, 1s72-Gross earnings, ash
a&g expeases siO4, ,45OO6; loss ss9.s56.s6; diyl-
NSaE W ri enjing Dec. 81 8s7l-Gross earnings, $780,.
@1; expenses, 1855, 7sl.oS; loss, sS,474.Oa; no
y a;{nding Dec 81. ls74-Gross earnings. $751;
49,! expenses, s347al7os; gain, s2i,5a9S2; divi
or eiU eMdng eDI Dec. % 81. 1s75Gross earnings, $685.
llO expenses, s39l, ,sae7O; gain, s2l ls44O divI-
Ycar ending De-. 81, 1s76-Gross earnings, $685..
:'a'9 expenses s3o9,9S5.5l gain, sl6,25lSi divi-
Year euding Dec. 81, 1s77-Gross earnings, $780,
dead paid. s per cent.
NUrE.-These figures are taken from sworn re-
port OF the treasurer in answer to the senate reao-
i.on May 81, 1878.
For the fifteen years and six months thus
tabulated the average annual dividends paid
We're "a per cent. Only once in all that
period was dividend passed.
These figures seem anomalous The year
in which loss of $s9,s50s6 was reported
witnessed tho cheerful dividend Of 8 per
cent, and other periods of loss seem to have
been coupled with dividends ranging from
to IL per cent. Probably this was due to the
thrifty habit Of calculating dividends sink
ing fund, &c., &c, among the operating ex-
penses
In reply to the senate resolution of May
81, 1873, the status of the road was reported
as follows:
Capital stock $500, ,00C
Bonded debt. $4,000
For The year ending Dec. 81, 1873, the receipts
were S42205l 40; expenses, Sl2i O63.SO, of which
there paid IN dividends $4,000; s62, l45CO tor
depot at Georgetown and So S7217 for stable ut the
navy yard; sinking fund, $1,000; ,ooo ..,-..
For the year ending Dec 81. 1880, the receipts
were S429,5i233; expenses S427,0l4.62 Of which
sl472.89 was expended on Fourteenth stree
depot s49 s6243 on Seventh street depot. and s47,
500 dividends: sinking fuhd, a. 900.
For the year ending Dec. 81. 1881, the receipts
were sA29.46947; expenses, s427, ,64S6O OF whicl
the dividend consumed s5OOoO; sinking fund
$4,000.
For the year ending Dec. 81. 1882. the receipts
were i49,SOSOG expenses, Si33 6622s, OF whiel
the dividend was $4,000, aud sinking fund "a 900
Thus it will be seen that the receipts of the
road have swollen from $2I9, ,160.0S in 1883 tc
$449, ,s0S09 in 1S62-almost double; and that
while the heaviest expense has been for pur
chase and improvement of property, the ne
earnings will inevitably hereafter show
continuous increase with proper management
Upon Jan. l, 1888, the old debt both bonded
aud floating, was converted into lO-4O pc
cent. bond of S500OOO.
President Kicker succeeded Gideon as chic
of the Washington and Georgetown company
Under his management the road became yer,
unpopular. When Pennsylvania avenue wa
paved with wooden blocks in 1870 the stree
railway company refused to have its track
disturbed and left the cobble stone in til
middle of the street. This became known o
"Ricker's ridge" Probably the manager
were "wise in their day and generation" a
the cobble stone still remains, while the wooC
rotted away in short time.
The road did not suffer to any alarming OK
tent in consequence of the gigantic improve
ments projected by the board of public work
and consummated by its successors in office
The heavy cut and change of grade upon FIJI
teenth street, which occasioned such bite
feeling and evoked such severe criticism a
the time, was tho most serious blow, bu
there We're few other heavy expenses of tina
sort.
Samuel Phillips succeeded Mr.. Kicker a
president, being backed by Hart Of Ne'
York a large holder of the securities of tn
road. He displayed considerable shrewdne'
in managing the property and bettering II
status. Mr.. Phillips was called to the charg
ofthe Third Avenue road, in New York, on tn
prestige established here and Mr., Henry HUI
succeeded him in tho Washington and Georg
town railway.
Under him the road seems to have taken
new start. Inspired by confidence in h
management, seconded rs this was by the az
vice of some of our bost business men, ou
own people purchased largely of the stoc
aud bonds formerly held by parties outsid
the city, and the controlling interest is no
held here. This change was effected by som
local consultations, the election contest bein
hot one and high price being paid for til
use of stock for voting purposes, Messr
Riggs, Temple Guntor, and other capitals
o,,,,inp m the front rnnrpgantntiyAa ,