Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-22
RAILWAY TRANSFER
Columbia and Washington Franchise
Sold to Baltimore Syndicate.
RESUMPTION OF WORK PROBABLE
Effect Of Sale on Local Branches
Matter Of Speculation.
GARRETT EsrATE1NTEREsTED

The long-pending negotiations for the fu-
| ture ownership of the Columbia and Mary
| land railway were concluded yesterday in
| Baltimore, when the property passed into
the hands ora syndicate of Baltimore cap
| italists, composed IN part of some Of the
| projectors of the road. 1t is stated that
| there is now no doubt that the work along
the line, which has been suspended for
| many months. will soon be resumed and
| the road quickly completed
There is a marked indisposition on the
part Of those interested in the matter to
disclose the names of those who comprise
the syndicate, but it is pretty well under
stood that among it's members are Messrs.
T. Edward Hambleton for several years
president of the Baltimore Traction Com
pany; Mr.. John M. Nelson, secretary of the
Baltimore reorganization committee of the
Baltimore and Ohio Railroad Company;
Nelson Perrin, president of the Consolidated
Railway Company of Baltimore; the estate
of the late John w. Garrett and Miss Mary
Garrett.
All these parties except Messrs HANDLE
ten and Nelson have for many years been
largely interested in, and. in fact, con-
| trolled the City and Suburban Railway
Company of Baltimore, the predecessor
of the Consolidated Railway Company,
which some months ago was formed by
| the merging of the Traction and the City
and Suburban companies, the latter pur-
tasing a controlling interest in the for
ner, the president of the City and Subur-
ban, Mr.. Nelson Perrin becoming the presi-
cent OF what Is to be in future known as
the Consolidated Railway Company.
COmpnny's Financial Condition..
The consolidated company enjoys, it is
| claimed, the unique position among rail-
| road companies Of not owing a dollar; has
q La oh
mess Is reported to De constantly growing
and as a matter of course it's dividends are
paid regularly.
No one who has given the subject
thoughtful consideration doubts for a mo-
| ment that II the Columbia and Maryland
designed, and as it is now stated to be
the purpose of the new owners, between
the cities of Washington and Baltimore, it
will do an enormous business 1t is re-
ferred to AS a matter of history that m
every part Of the country where electric
roads have been built parallel to steam
lines the business of the latter has in
vsriably fallen of-in some Instances to
| such an extent as to necessitate the tax
| ilg off of local trains, which, previous to
the opening of the electric competitor, mad
| been run at large margin of profit.
The developments of the last few DAYS
have, it Is said, shown to those interested
| in the securities of the Baltimore and Ohio
RAILROAD Company that reorganization
l. Of that company can only be brought about
by very heavy assessment on fine hold
ers of the common stock-some think like
~ per cent-or the holders of the bonds and
! mortgages of the company will have to
consent to a severe scaling process. 1t is
| OF record that j p. Morgan & Co. who II
Is generally believed, will have charge of
| the matter of reorganization, invariably re-
quire that not only shall the stockholders
furnish sum of money sufficient to put
me roadbed and equipment in a f1rst-class
condition. but also supply good workin,
capital. and If this be resorted to- it is
claimed, 1t will wipe out, financially speak
ing, all the smaller stockholders and per-
haps seriously affect many of the larger
| ones. To be able to keep their holdings
which amount, 1T is said, TO $1,000 GOO the
| Garrett estate and Miss Mary Garrett
$6UW.ooO. while the Johns Hopkins Uni
versity people, who have nearly 81 900 600
| In stock, would pay about 100000 1t is
said the university will not pay the assess
ment, IN which event holdings would be
entirely lost. ..
What course TIL. Garrett estate and Miss
Mary Garrett might see proper to pursue
| those VINO know will not say, but 1t seems
| to be the impression that the next BEST
| course to adopt would be to use the means
at their command to extend the scope of
other railway properties held by them, and
tnus receive dividends on many invest
| ments as possible. and this appears to be
! offered in the completion of the Columbia
| and Maryland road.
What VIII Be Gained.
In the latter, under the new order of
| things, the Garrett estate and Miss Gar
| rett would exercise an influence equal to
that they so long possessed in the Balti-
more and Ohio. but which they could not
hope to have with Morgan & Co. in con-
troll, even II they paid the enormous assess
ment required, which is likely more, rather
than less. than $6.OOOOOO.
The Columbia and Maryland will I'M
wit he lof acf nd
best appliances, and 1t is within the range
Of probability that its through trains will
be run between the two cities in half an
hour. Great as this speed would be- 1t is
less than the inventors of electrical pro-
pulsive machinery are estimating upon for
as will be remembered by the readers of
The Star. the Baldwin works in Philadel-
phia have already produced an electric
| locomotive which has Travelled at the rate
| of 120 miles hour, and it is fully ex-
pecteG, as was stated by one of the man
ayers of the Philadelphia concern to Star
| reporter, that In the course OF very few
years there will be electric air line rail-
way between New York and Washington,
4 and that the distance can be covered by
express trains in a little more than two
hours, as against five hours, as is now re-
quired.
| Considerable work has been done toward
the construction of the Columbia and
Baltimore. On the Baltimore end the
| tracks are laid within the city limits to the
| terminus at the corner of Saratoga and
Howard streets. Unlike the tracks Of the
city rapid-transit lines the tracks of the
Boulevard line, as the Columbia and Mary
| land is called, are of the guage used as
standard by steam roads. 1t Is estimated
| that the work already done represents an
outlay of about S1,00O.0O0. The price paid
by the new owners Of the property is said
! to be considerably less than this amount.
lexington and Belt Lines.
In Washington the Boulevard line con-
trolls the lexington and Soldiers Home