Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-26
The Alleged Purchases Of Suburban
Electric Roads by the W. and G.
THEY ARE PIGMENTS OF TIE FANCY
Interesting Interview With a Well
- Informed Capitalist.
FACTS IN THE PREMISES

the way of railroad sensations will be the
announcement that the Washington and
Georgetown company has concluded to alb
serb the Baltimore and Ohio and the Penn
sylvania systems, and is engaged in a
dicker with President Chauncey NJ. Depew,
with view Of acquiring the Vanderbilt in
terest in the New York Central" said a
well known local capitalist, who Is thor
oughly informed on the inside matters of
the Washington and Georgetown Railroad
Company. the impression that such a
possibility is imminent is founded on the
statements published during the the past
day or two, purporting to be truthful expo
sitions of the intentions of the Washington
ard Georgetown company regarding the
purchase of other railroad systems in this
District.
Following the declaration that the city
company had virtually concluded ar
rangements looking to the purchase of the
Rock Creek and Chevy Chase Electric
positive statement that the Georgetown
and Tenleytown electric would also be
swallowed up by the cable company, and
that the control Of the Great Falls Electric
road, now being constructed, Is seriously
contemplated ard Is merely a question of
time. This breath stopping news is ac-
companied by the announcement that the
Washington and Georgetown stockholders
are to have meeting within the next ten
days, for which proxies have been request
ed and at which the vast scheme of ex-
tension is to be cor sidered and finally de-
cided upon.
The Facts in the Case.
1T Is cruel, no doubt, to puncture the
pretty balloons of romance intended to be
so pleasing to the public, and the source of
SO much delight to those who fill them with
gas and send them bounding upward for
the delectation of the multitude, but facts
are facts and are dangerous things to soar
ing suppositioLs.
First and foremost among them" he
went on, lis the fact that none of the Off
Gals or stockholders of the Washington
and Georgetown railroad have ever heard
OF the intention to buy the suburban cleo
trio railroads. They are aware, even the
most enterprising and optimistic of them,
that they Gould not purchase the other
are not.
They are entirely satisfied to extend
their present road in other directions when
me demand comes, but at present they are
content with the avenue and Tth and I4th
street systems, from which the receipts
last year were slightly over a million dol
lars. They are and have been considering
Tor some time the propriety of entering
into transfer arrangement with the
Chevy Chase road, and this may be
brought about. but the purchase of that
system or its lease for ninety-nine years
mas not yet been dreamed of, much less
considered by the capitalists owning the
cable company.
Neither is the meeting of the stockhold-
ers which will be held next Wednesday in
fenced 10 consider any extension of the
road holdings such recent persistent
publications have led a portion of the pub
lie to believe.
10 Decide How Bonds Shall BE Sold
THE meeting next week will be held for
an entirely different purpose Some time
ago the Washington and Georgetown cor
poration determined to issue 5000 worth
OF q per cent bonds to meet the expenses of
the Union depot in Georgetown and the
extension Of the cable system from its
present terminus to the new structure
the suggestion was made that these bonds
Should be sold at public auction as it was
thought a premium of at least 20 per cent
would be secured for gilt edged securities
such as they will be: and the sum of $780,
lao thus made by this policy. A number of
the stockholders, however, objected to the
auction idea on the ground that the bonds
should be sold to the stockholders them
selves. SO that they would he allowed to
reap any benefits in the way Of premiums
that might accrue. The stockholders who
held to this view fortified their arguments
by pointing out that the six loans already
negotiated heretofore by the company had
been disposed of to them. and that 1t was
unfair to change precedent in regard to the
present issue of bonds. Next Wednesdays
meeting sth I'll therefore nea Is simply to settle
or to the stockholders. and 1t don't need a
very keen perception to see what will be
the result. These are the facts about the
Washington and Georgetown Railroad Com
pany," said the gentleman, in concluding.
1.-The rest Is Utopian.'
Conservative Progress Anticipated.
Another equally well-known capitalist,
who is particularly conversant with local
railroad affairs, was also talked to by a
Star reporter.
81 have heard nothing, save through the
papers, of any intention on the part of the
Washington and Georgetown people to pur-
chase the Chevy Chase or any other
suburban road" he remarked. ut has been
matter of common report for some time
in local finans al circles. however, that the
Washington and Georgetown would extend
its present system, not only out 14th
street, but in other directions. where the
suburbs are becoming thickly populated,
and have no doubt such purpose will
be carried out, either by a transfer ar
rangement with existing lines the extern
sion of its own road by constructing lines
Of cable, or the acquisition of roads already
In operation. I do not anticipate that these
progressive movements will take place all
at once, or in the very near future. I am
pretty sure the policy of extension will be
soon, If it has not already been, decided on,
out tndt us development Will be cOnSer-
vative and careful, and will be kept within
the bounds Of the necessities, as they may
arise, and within the limits of proper firan-
cial discretion.
You know the W. and G. has already
asked for the right to run it's system be-
low the avenue above 18th street, which
territory is also claimed by the Columbia,
or H street, Railroad Company, as 1t is
more Familiarity termed, and coupled the
request with one for a right-of-way out
22d street. 1t has not given up this idea,
and 1t Is probable that the first work Of
enlarging its system will be in the direc-
tons indicated and out 14th street. So far
as the Rock Creek and Georgetown and
Tenleytown roads are concerned, I do not
believe that their purchase is contemplated,
especially when 1t would be so easy for the
w. and G. to enter into transfer arrange
ments with either or both that would be
profitable to everybody interested"
Stanley j. Weyman.
Tomorrow's Star will contain the first in
stallment of 1.-THE Cat and The King"
most interesting story by Stanley ]. Wey-
man, author of "a Gentleman of France"