Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-10
SECRETARYS STATEMENT
What M Beall Says Of the Georgetown
and Tenleytown Railroad 90
The Road 10 Making Money snd Il Being
En,oiently and Economically Managed
some misrepresentation Corrected.

A meeting Of the stockholders OF the
Georgetown and Tenleytown Railroad
Company was held yesterday after
noon at the once OF the com-
pany. 1921 street A proposition to au-
thorize the issue Of bonds amounting TO
$4,000 for the purpose OF paying OF the
floating debt and q small issue OF bonds
was agreed to. A good proportion Of the
proposed new issue viii be taken by the
stockholders.
Mr.. John e. Bean. the secretary and
treasurer Of the road said 10 4 Star re-
porter today. THAT recent published state
ments In regard to the affairs Of the CON-
pany are not based upon facts and that
they contain malicious statements. eyt-
IDENTIFY made with the intention of injur1ng
the road and attacking the present man
agement: and this management, have no
hesitation in saying. il decidedly as nearly
perfect and economical as could be OBJ
tained. The statement that when the
books Of this company were opened for
subscription Q liberal response was made
by the merchants and business men Of
Georgetown Is not true. Mr.. Goldsbor-
ou9h and myself called q meeting at Mr.
t1ckhngs of1ice and after stating to those
present the necessity for tho road. sub
scripuons were invited, and. II my mem
DRY serves me rightly. about Fifty shares
we're subscribed at That meettng-the Jar
value value sso each; and today the citizens of
this road. do not hold 200 shares OF stock
IN 1t As a further evidence of the difflcul-
TIES surrounding the Organization of this
directors of the company, tust as II was
about to be completed. had to endorse SEQ
~ worm OF paper to furnish FUNDS and
hnish the road and perfect the plant. 1
was individually interested In making this
transaction, and every year since my in
oHre o1res, mas mas cost me about 5000 out Of my
The road has made the money shown,
ana ~ mas been expended economically and
community. The money has been expended
Tor new equipment Is and for the Outrageous
cnsIge saddled upon the company by Con-
and paving OF High street The Statement
tnat the stock rose to an inviting premium
ana % remained At Is for some time is untrue
was "a was the purchaser. and gave
tnis exIaoroinary price only because We
were seeking to obtain control OF the road.
~ u also stated that Gen. Drum secured
mail twice q day. This is false. We Ases sc.
s the ih!' rsaa sSasss sss on July is the first
indebtedness Of the road is not increasing.
and the stockholders are not dissa tisfied.
The Stockholders meeting yesterday was
not precipitous one. but was simply q
friendly conference. The president Of the
road did not state that the road is embar-
IoooSu UcCduSe Oh aCcOmUlaUnR eXDenSeS
because the road is making and paying run
ming expenses. He did state that out of the
earnings of the last two months we had
eurtailed our Indebtedness $500. The s6O,-
70 pay the boating indebsedness 81 Cause esSsed abS by
and by the purchase OF new equipments
and additions to our plant. The owners Of
stock did not call upon any ex-president or
members for statement This was VOL
unfairly made. and II It Is thoroughly di-
gesteo any one can see IL shows the road
to be In good condition
And now I'm reference to the relations
existing between this road and the Tenley-
town and Rockville road, of which am the
principal owner and also the president. I
have only to say that under the old man.
agement Of the Georgetown and Tenley-
% town road. a 7. Britton. G. H. B. White.
hornrsh Mm; =; 9ordoni 70 @; c, Green, & R. H Colds
p. Gilbert and myself. then members OF
the board. traffic arrangement was
agreed upon between the two roads. and
that arransement has not been changed
since the road has been under its present
management As I said at the stockhold-
Pt sna yhs pyss,ed IN
Rockville road q large private fortune and
without this road and the Glen Echo the
be able to pay its expenses. There is no
connection or collusion Of any kind be-
tween the two roads. except a business ar
rangement mutually advantageous. the de-
tails OF which We will be glad at any time
to give to any stakeholder With the sin
gle exception of myself. there is not a sin
gle stockholder in the Bethesda road who
has not ten times as much interest in the
Georgetown and Tenleytown road. And as
for myself, I desire to say that the inii-
Vfdual criticisms passed upon me, coming,
all my hfe-namely, Georgetown, are thor
oughly unjust, and that / think 1 rather
should have the thanks OF the citizens OF
that place as for four years I gave my SER
vices to the road. and never received one
cent OF compensation. / can only add that
l am sure that a full investigate will vim
dfcate me In the minds Of all fair-minded
people.
II will add further that at the meeting
OF the stockholders yesterday Mr.. c, J.
Bell, who has had large experience with
electric railroads, made the remark after
the statement had been read that the items
Of expense as shown thereby were remark
ably small and said that the particular
items for repairs and betterments were so
exceedingly low that he could hardly be-
heve them to be correct
The directors OF the road have within
the last few days personally paid S. 900
OF the bonds OF the company, and have for
the last year personally endorsed paper
when necessary to obtain funds which
nave always been wisely. economically and
simultaneously expended. and they have
never received any compensation"
NO DISTRICT BILLS