Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-05-29
RAILROAD PURCHASE
The City and Suburban Now Becomes
aaPartsof the System.
4 CONTROL HELD BY FIVE men
A General Offer for the Stock
Not to Be Made.
PART OF THE ROAD

The announcement recently made in The
Star Of the purchase of the City and Sub
urban Railroad Company by the interests
controlling large number of street rail-
roads In this city and the electric lighting
companies did not extract the general at
tent1on that transaction of this kind
would under ordinary circumstances for
the reason that 1t was supposed by some
that the interests referred to were already
IN control of that property. But as the
readers of The Star have been informed
from time to time such was not the case
This deal, which has just been closed, was,
1t Is understood. negotia ted directly by the
United States Mortgage and Trust Com
pany of New York city with those owning
the control of that property.
All the railroad properties as we'll as the
electric lighting companies. which have
peen purchased by this trust company have
been bought through some agency. In the
case OF the street railroad companies thu
purchasers were represented by Mr. Fred
erick c. Stevens. 1t is understood that he
pfactlcaily owned the Potomac Electric
Power Company, and SO it is presumed he
made the terms for the sale of that prop
ertY.
How 1t Was Done.
In the matter Of the United States Elsc-
was the representative of the purchasers.
and he also appeared in the same capacity
in the negotiations for the control of the
Washington Gas Company, which failed
1t was supposed that the City and Sub
urban was controlled by the same interests
NANNY, II Is probable, from the active
part taken by Mr.. Q. T. Crosby in securing
the necessary legislation for the organiza-
ton of the company-and also because he
was subsequently made the president of the
Crosby who is now at the head of the cleo
tric nghting companies, had no interest
In this enterprise, and for the services
rendered he was paid by the owners in the
STOCK or the company, which Is now selling
LOT over Sio share
ihose VINO held control of the City and
suburban Company were Nicholas q. Bond
Thomas j. Hayward, H. A. Parr of Balti-
more, Henry Scott of Wilmington. Del,
ana w. kesiey Schoepf of this city 1t will
De recalled that most of the properties now
comprising this road were once owned by
what is known as the Weidener- Elkins syn
dictate. the Belt road being controlled by
the same parties This syndicate sold out
Its interests In the Washington roads to a
10 3d. uonnpa .loS' when confronted roads
of an electric road between Washineton
and Baltimore.
To Cennfct Two Cities
Tho a,.a-,, ..
,>roi.,. 80 - e,oa,, ,II "eA ING
betuoor, .ha ki,;a, s'n
~ - ""S to'
mo line anu uiViSioh MADE OF the mold
mss Inc raliroas properties in Baltimore
comprising the section of the proposed
Washington oand RaltSn,ors road FROM, Raj
timore TO Iaure, were taLep nv ono con1tJ
nation. and fhe sNraat RAILROAD hoidi,,as in
this citv WITH the fsactJnn oe the Wasbing.
ton and Raltiuoref .s far 30 Rer,yn Ma
were taken bv the five frentIeman 49, "a
ferre5 "a n .72aA ~
Mr.. Crosby larsphfv nronoted tho entar
nrisa and hrbught tSa nrnnerttas into ,bsir
present forms Al soor ~ that was Gana
an issuf of sthcks ana bonds VS. msde
of the new comnanv arno,,ntinp to a mil
lion and three-nnarfers of each From the
proceeds OF the sales of .the honds which
were disposed of in Baltimore at 500 the
road has been reconstructed and an un-
derground system has been put down in the
city and the overhead system on the subur-
ban section. This work has been COM