Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-09

cHAsER-HE Is NOT COMMEMORATIVE ABOUT
1.-THE IMPRESSION GESESAL THAT THE
DEALS HERE ARE IN THE INTEREST or A
SYNDICATE.
There Was another move in the street railroad
deal today, which was somewhat surprising. IL
was rumored on the street that another road
had fallen in line with the fashion set in the
case OF the Belt road and had changed hands.
1t was soon known that the road in question
was the lexington. While not formally an
nounced, il stated that a controlling
interest in the road had been secured
and that the purchaser was Mr.. E.
hurtz johnson. the treasurer of the
road. All this was interesting information. but
1t only whet the appetite for more. OF course
every one wanted 70 know how much had been
paid for the property and who Mr.. johnson
represented in this purchase. II seemed
TO be taken for granted that Mr. johnson
had not secured the control Of this property so
that he could run il himself. No one
questioned his ability 10 manage this
railroad or ANYTHING else that he
chose to give his attention 20. but at
the same time it is well known that he is a
pretty busy man, taking care of the interests
which he already has on his shoulders. and that
ne Is not exactly looking around for something
TO do.
Mr. JOHNSON NOT COMMUNICATIVE.
Mr.. johnson smiled today when il was sug
gested TO him by STAR reporter that he would
make an excellent railroad manager, but he did
not seem to take very kindly to the idea. In
TACT, ne did not say very much about the
transaction either one way or the other
except to admit that he had secured the control
OF the road. He also failed TO saw how much he
had paid for it, although he was told that the
much interested
know. However. it was learned from an
other source that there was paid for the
controlling interest in this road the sum of
SZoo,ooo, and If tho information is correct
then the price paid per share for the more
than $500 shares needed TO give the control
was over $50. This stock has been quoted
on the local stock exchange I'D to TODAY
At 80 per share and even lower. but today. in
view OF the change that has taken place. the
price jumped ten points and the asking price at
the close of the board was s44 similar ad-
vance marked the sale Of the Belt road and to-
day the stock of that road, for which on Saturday
last only S33 vas bid is now sold for $50 uer
share and the asking price is S54. So the
change has had stimulating effect on the
mar ket price of the stock OF both of these
roads
WHAT Is BEHIND IT ALL?
The great and absorbing question in the case
of this transaction, as it was with the Belt
and what does il mean? No one seems to take
any stock in the idea that either Mr.. Mclean
or Mr.. johnson have bought these roads as a
personal investment. There are two views en-
tertained by those who are in a position TO
know the facts as well as outsiders can know
the inside of such deal. One view is
that the two properties were secured in the
interest of the large syndicate which has
recently been buying up street railroads in
various parts of the country. 1t is the syndi-
cate that Mr.. Whitney, Mr.. Lamont and Others
are said to be interested in. and which has OBJ
tanned control of roads in Philadelphia. Balti-
more and In other places, and which is
now said TO be engaged in working up a scheme
for the building of electric road between
this city and Baltimore. 1t is claimed that it
is the desire of this combination to secure rail-
road connections in this city which will be alb
solutely under its control.
THE WASHINGTON AND GEORGETOWN.
On the other hand it is asserted that both
the Belt and the lexington roads have been
bought in the interest of the Washington and
Georgetown railroad company and that as soon
as it can be arranged the control of
the Metropolitan and of the Columbia
will be secured and the entire system of roads
placed under one management This state
ment is denied by those interested in the
Washington and Georgetown; but nevertheless
itremains q fact that the opinion is generally
the brokers' Offices that the Washington and
Georgetown is the power behind the two recent
deals and that the future developments will
demonstrate the truth of the statement.
In support of this opinion it is stated that Mr..
Hurt, the president Of the cable read,
was called in and WAS present when the trans
fer of the stock of the Belt road was made
the other day to Mr.. Mclean. The advantages
OF running all the roads of the city under one
management are also pointed out as additional
reasons why the Washington and Georgetown
road should seek to gain control of other rail-
roads here. II is also suggested that in view
of the fact that there is q strong probability of
new and powerful railroad interes:
getting a foothold here that it is Just
we'll for the cable road to adopt
such measures as viii prevent them from be-
coming too powerful This is the talk of the
street today, and while there is good deal of
uncertainty as to the full meaning OF the re-
cent purchases still il is certain that some
radical changes will be effected in the
near future in the method of street railroad
management and that the result will be that the
public will be the gamers
AN EXPLANATION FROM PHILADELPHIA.
The Philadelphia Inquirer today states:
"A ride from Philadelphia to Washington by
way of Baltimore in trolley car. is one of the
possibilities of the future, and if legislation is
favorable and the investing public continues to
have faith in the Philadelphia traction mag
mates, that future may not be tar distant
The principals of the traction syndi-
cate, Messrs. Widener and Elkins, already
have a firm footing in two OF the
cities mentioned they are acquiring
foothold in the third: have projected a por-
ton of the connecting line and are shaping leg
islation which will enable them to consummate
the plan as above outlined.
PROGRESS IN THE SOUTH
Through the Baltimore Traction Company,
with it's many lines of road in the monu-
mental city, Messrs. Widener and
Elkins are well intrenched in Baltimore
In Washington they have just pur-
chased a controlling interest for S275,000 in
the Belt. Line railway, which encompasses the
more important parts of the city, and it
is said they negotiating for two
more lines. One of these, the
Metropolitan, runs east and west through
the city, and the other the Columbia, runs from
the Treasury Department, in the business CEN
ter, to the northeastern part of the capital.
For some time these gentlemen have
been planning to build trolley road
from Baltimore to Washington, but they
have carefully kept secret the exact
route. Real estate on the outskirts of
Baltimore has materially advanced on
account of the probability OF the Baltimore and
Washington trolley railway being built Now