Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-10-26
A RAILROAD DEAL
Purchase of a Majority of Bonds Of
the AnaCostia Line.
AUCTION SALE A PROBABILITY
In the Interests Of the City and
Suburban Company.
UNION OF CAR SYSTEMS

A transaction has just been closed which
IS likely to have an important and far
reaching influence on the future of street
railroads in this city. A majority of the
bonds of the Anacostia street railroad has
been purchased by o. T. Crosby, C. A. Lieb
and F. a. Stevens. 1t is supposed that
their purpose in securing an interest in this
property is to buy the road when it is Of
fered for sale.
AS is well known. the property is now in
the hands of reCeivers-Messrs. H. A Girls
void. formerly the president of the road,
and b. S. Minor-and. it is understood, to
be the intention of the receivers to ask the
court to direct the sale of the property.
If that is done. 1t is expected those new
holders of a majority of the bonds will
appear as bidders. and in the further event
the property is knocked down to them it
is stated that it is their intention to equip
the line with the modern underground
electric system similar to that which Is
now used on the principal car lines of the
city.
The Purchase of Bonds.
The amount of bonds thus acquired is
$4,000 of the first series the total issue
being 100000. The purchase was made
through Mr.. John E. HerreI, who repre-
sented number of bondholders. and the
price. 1t is understood was SO. The entire
issue Of bonds of this road is 1888 691 net
with the exception of 500 600 first mort
gage bonds. They are secured on the
property by subsequent trusts.
Inc significance of this transaC ton, con-
sldered as the beginning of the acquisition
OF the property, can readily be appreciated
oy glancing at a map of the car line routes
in this city. While In itself the Anacostia
road has not proved to be a raying ven
ture, yet under such control as above indi-
Gated and with the connection that can
easily be acquired, and with a modern
equipment, II Is thought that the road Will
not only become an important part OF
railroad system which Is in process of for
nation, but that it Will have a powerful
influence in the development of the section
OF the city and of the suburbs through
which ii passes
The gentlemen named as having acquired
a controlling interest in the bonds have
already succeeded in getting the affairs of
the lexington railroad and its allied lines
IN such a shape that now under the name
OF The City and Suburban railroad con-
tracts have been made for equipping the
entire line from 18th and G streets to
Brookland, thence beyond the District
bounds 10 Berwyn. Md. and the section
on Capitol Hill and other city lines with
the modern motive power. 1t is expected
tFat the road will be in operation during
the coming winter.
EOuEht Other Lines.
The same men recently, as stated in The
bonds of the Belt railroad, and it is under
stood when that road is offered for sale by
order of the court. which will be the middle
Of next month, that they will become the
purchasers In addition, they also own and
operate the Georgetown and Tenleytown
railroad and its branch to Bethesda, Md
II Is natural to expect that, when the
control OF these various properties has been
fully secured all the lines will be welded
nlt0 my 2 system under one control The pos
sihilities 0f this new phase of the railroad
situation are OF much interest to those who
are interested in local street rairOa Is and
II Is generally recognized that III Thus
Er1hsiag together properties which from
Cne cause or another are not and have not
Eeen productive, and Spending necessory
money for improvements d new street rail
road system is in process of formation
WI len Will take rank among the princinaI
systems Of the city.
The route # the Anacostia RAILROAD sao-,.
We'll adapted to fit in as a part of whole
WITH the lines now or about TO come under
the control of the same management 1t
starts IN AnacDstia and crossing the bridge
over the Eastern branch extends north
along llth TO G. street southeast tbence to
4th, to K. 70 the old canal line. to I'd. and
thence to Missouri avenue and 411 street
from this latter point. under authority of
4aW'tte cars run over the tracks of the Met
roDolltan road in front of the PENNSYLVANIA
railroad depot, where IL is the terminus of
the 9th street line of the City and Suburb
an. formerly the ECEirgton Then still ON
the tracks OF the Metropolitan the Ana
costa cars 60 up 9th street to G street
"here they pass to the tracks of the C'itv
ard suburban ard along G street TO llth
vi ere again they shift TO the tracks of the
BeIt road and down 11th to ( street and
Stl'Ig that street to 9th street passing once
again to the tracks of the METROPOLITAN rail.
road.