Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-13
IN SESSION TODAY
Meeting Of the Directors Of the Capt.
tai Traction Company.
WORK OF TEE BUILDING COMMITTEE
Road to Be in Operation by Christ
- mas, It is Hoped.
G o R R E Mt COS SIP

Instead Of the building committee which
Is in charge of the installation Of the new
motive power on the Capital Traction
railroad being in session as usual this
morning at the offices of the company, the
board of directors held the floor, or rather,
occupied the room, where the committee
Usually sits. In addition to this two men,
bers Of the building committee Messrs
Dunlop and Hurt, are members Of the
board of directors, and for this reason
alone a meeting of the building committee
could not have been held at the same time,
| unless Mr.. Phillips, the remaining member
OF the committee, had chosen to meet and
organize himself, which, of course, he
had no intention of doing. Instead Of that
Mr.. Phillips waited until the board of
directors had adjourned, and then the
building committee convened.
1t was the first meeting of the directory
OF the road since the power house was de-
stroyed by fire, and 1t was also the regular
monthly meeting. All the members were
X Mclean. who is not in the city. Those
present we're Henry Hurt, John G. Parke,
=: ). Stellwagen, G. T. Dunlop, Charles c.
clover and William Manice. The latter, 1t
Will be remembered is the representative
OF the New York stockholders.
Passed Upon Contracts.
According to the statement of Presi-
dent Dunlop, who was seen by a Star re-
porter at the close of the meeting, the
board did nothing but pass upon the con-
tracts which had been made by the build
ing committee for furnishing supplies to
be used In installing the motive power. As
already stated in The Star these contracts
are as follows: With Mr.. Saxton, for the
construction of the road with the General
m
supplies and equipment; a contract for
the tubing to hold the supply wires and a
contract for the Parmenter fender
Az the meeting Of the building committee
yesterday a contract was made with the
Baltimore Car Wheel Company for whaf is
known as the Lord Baltimore truck and
ms contract was also approved by the
1 Toara OF directors at the meeting today.
me building committee will mex, take nm
the subject of selecting the motor cars
and will also consider awarding the con-
| tract LOT wire cables The principal con-
tracts ior supplies will then have been
awarded, and 1t Is expected Of the contract
| ors that the material will be supplied
promptly.
Under the present arrangement the build
ing committee has power to make con-
| tracts, and then they are submitted to the
board for its approval. The meeting TODAY
lasted some three hours, and it is evident
| mat time was ample for very thorough
examination of the work of the building
committee. although on account of the per
| sonnet of the committee there is the utmost
confidence, 1t is asserted, in their ability to
do the work which they have been as
signed.
Ready by November L.
| Mr. Saxton, who has the contract for
| the street construction, has returned to the
city and was at the offices OF the company
today. In conversation with Star re-
porter Mr.. Saxton said that while there
| a good m
| cur to interfere with the Carrying out of
| the present plans, yet he hoped to be able
| to be ready to begin the work about the
| hrst OF the month, and he also hoped to
| nave both the avenue and 14th street lines
In operation by Christmas He, however.
| said that neither of these dates were ANY,
| thing more than approximate. but IL it was
at all possible active operations would be-
GIN as above stated, and if everything went
| along as now anticipated cars would be
runaing by the new motive power by
| Christmas.
MI Saxton stated that gangs of men
| would be at work on both lines at the same
| time, and that he intended to employ as
much help as could profitably be used. He
| estimated that there would be some lNl
| men at work on the streets at one time. He
| saiu that new rails would be laid on the
| avenue line from 18th street to the Peace
monument, but along the balance of this
line and on the 14th street line the rails
| now i'll use would not be disturbed The
utilized ' VIC
Mr.. Saxton will secure all the Iaboring
| force to be employed here from among the
residents of this city, and he said today that
| he obtained a more superior class of men
| here than he was able to do I'm New York
| city In the latter place he is engaged in
laying the underground electric system on
4th avenue and on another street, and he
has now about 1900 men at work.
| New York Prices.
| One of the minor nhnSec of ho oopor,l
subject of street railroads which was dis
| cussed in financial circles today was the
| recorded sale in New York on Monday of
| 300 shares of Capital Traction at 5O1s, while
| In this city on the same day sales were
made of the same stock at 81 Yesterday
| in New York. a bid of sly was recorded,
while in this city sales were made at 53h.
The local dealers in the stock here do
not try TO account for this except by say
ing that possibly the stock sold in New
York was an odd lot and the sale therefore
had no special significance. There is still
another phase of the status of this stock
| In the market which is found in the action
of a local stock broker. who has notified
holders of the stock that he will trade
good 6 per cent local stock for Capital
Traction stock in lots to suit at market
rates."
There are also dealers who offer to trade
! real estate for this stock, and several deal
ers report that they have INQUIRIES from
people who desire to exchange real estate
for Capital Traction stock. 1t is Thought
by some that these offers to exchange for
this security are based on the supposition
| that probably some holders of the stock
are willing to reliquish their holdings at
the present market rates
One OF the large stockholders of the
Capital Traction road, who is not identi-
lied with the present management, said to-
DAY, in speaking of the rumors that have
been going about in regard to the consoli-
dation Of the Capital Traction with the
Metropolitan railroad, that he had made
some inquiries about the matter and had
been informed, by one who is In a position
TO know. that there was no real foundation
for such rumors.
Inquiry among holders of the Metropol-
| itan railroad stock, who were also not spe-
cfally identified with the present manage
| nent. revealed the fact that there is de-
cided opposition to such an arrangement,
and on, man, who owns a considerable
block. said he would never consent to 1t
himself.
1t is stated that large number of stock
holders in the Metropolitan are Of the same
mind. and it is believed that, unless induce
ments can be offered which are rather I'M
usual, 1t will be impossible to obtain the
consent of all the stockholders TO con-
solidation.