Evening star., 1898-11-21
PROPOSED CONSOLIDATION
Suggested Purchase Of the Capital Railway
Franchise.
Letter Addressed ITO the Capital Trac.
tton Managers Aby o. G. Staples,
a Large BtOckholdeF.

Mr.. o. G.. Staplesa who is the owner OF
600 shares Of stockIin the Capital Traction
Company, has sent n letter to President
George T. Dunlop ofethat company, urging
that steps be at once taken by the directors
of the latter to acquire the Capital rail.
ways line, which connects with the Capital
fractions line at the navy yard gate and
extends to Congress Heights. A copy OF
the letter has also been sent to each stock
holder of the Capital Traction Company
Mr.. Staples letter was as follows:
LAS stockholder of the Capital Trac-
ton / desire to call your attention to a
matter l consider of vital Importance to the
Capital Traction. A syndicate has bought
the Anacostia railway bonds. The equip
ping with electricity of this road means
much to the Capital Traction. as it prac-
tieally parallels it for over two miles and
would be a great blow to it. In addition to
this the Capital Traction would lose its
passengers from the Capital railway, the
receipts of which road shows since the
Capital Traction substituted electric power
for horses, about six months, have carried
526,951 passengers with only two cars. Es-
timating one-third fares cash and the bal
ance at six tickets for a quarter, the re-
ceipts for the two roads, by this connec-
tion, aggregate $23, 1920.
What 1t Pays.
Now, one-half Of this amount is SILL
710.10, which pays the interest on one-half
million $500, ,OOO) dollars of the Capital
Traction per cent bonded Indebtedness
for the six months since the Capital Trac-
ton has been running electric cars to the
navy yard. This does not include the
amount earned by the Capital Railway
Company.
ut would cost the Capital Traction but a
small amount to operate this road, certain
ly cheaper than the Capital railway can,
winch is able to operate the road at i
proht, using an experimental underground
system and pulling their cars across the
bridge with horses, besides giving the Cap
ital Traction the above receipts. If it cost
the Capital Traction half of the receipts to
operate the road the receipts for the last
SIX months since the electric cars have
been running to the navy yard would have
profit of $11,7 ,710, or the interest on $685.
600 per cent bonds, during this time.
The Capital railway makes this showing
with only two cars. Thousands Of pasSen-
gers have been turned away for want of
more cars. If the Capital Traction owned
the portion of the road now built by the
Capital railway there would be no fear of
the Anaeostia road equipping any portion
of Its road with such competitor as the
Capital Traction running through its best
territory.
AnacOstia the Key.
TT has been said by one of the syndicate
VINO Dought the AnacoStfa bonds that the
Capital railway is the key to the situation,
and 1t has endeavored to secure an option
on the road for the syndicate.
ut is, in my judg msnt, far better for the
Capital Traction to secure this road than
to extend the Pennsylvania avenue line
out Pennsylvania avenue to the Eastern
Branch bridge for 1t will be ten years be-
fore this Pennsylvania avenue extension
Will pay even operating expenses"
The existence of Mr.. Staples letter has
been known in inner railroad circles for
several days past, and, as a result nere
has been considerable agitation on the mat
ter The Anacostia read parallels the zap
ital- Traction from .z11th and NJ streets
southeast entirely up to 9th and q streets
northwest. and from ~ street and Missouri
avenue to 9th and @ streets it Uses the
tracks of the Metropolitan line. When the
syndicate which has Just purchased the
Anacdstia road eompistes it's rapid transit
system there will be powerful competitor
to the Capital Traction in what is consider
ed its best territory. = - ~
AT present, as is explained in Mr.. Staples
letter, the Capital Railway Company is
transferring it's passengers to the other at
the navy yard gate, although the Capital
Railway Company has the right TO extend
ITS line up 11th street to a junction with
the Metropolitan a Lincoln Park