The times. [volume] (Washington [D.C.]) 1897-1901, 1899-04-30
THE S'FEVBNS-CROSBY
RAILWAY COMBINE
1t May Acquire the Capital
Traction Line.
West End Bank to Be Made a Trust
Company.
Proposed Building at the Southwest
Corner of Fourteenth Street
and New York Avenue.

The settlement of many of the mysteries
which surrounded the bidding for the
Metropolitan and the Columbia Railways,
the United States Electric Lighting Com
pany, and the Washington Gas Company.
in the formal or informal announcements
that all of these companies are to be owned
by the Stevens Crosby combination, has
not caused a cessation of gossip about the
affairs OF the syndicate. 1t is probable that
Mr.. Stevens and the capitalists who are be-
hind him have received even more atten-
ton within the past week than ever before.
The identity of the capitalists, their plans
for the working of the great system OF
railroads and light and power plants, and
the possibility and even probability that
they will purchase other properties OF va
rious kinds are all subjects under discus
sion.
The statement is made on the authority
of one of the gentlemen himself that
former Senator James Smith, of New Jer-
sey, and former Senator German are two
of the capitalists interested in the syndi-
cate. Mr.. Stevens, who has been the local
head of the syndicate's operations, is also
| heavily interested financially, II is under
stood. There has been some gossip con-
Meeting the name of Mr.. John r. Mclean
with the combination, but no foundation is
| known for this. Several New York men
less well known than the gentlemen men,
toned complete the combination. Mr..
Young, the president of the National Mort
gage and Trust Company, of New York, is
one of these.
The possibility that the syndicate may
acquire the Capital Traction Company in
the near future is discussed. Mr. Stevens
is said to have made the statement recent
ly that he had no intention OF purchasing
that company, but 1t is remembered that
such a statement was also attributed to
one of the syndicate regarding the Metro
politan Railway short time before the
| road was formally bid for by Mr.. stevens.
In this connection it is an interesting tact
to know that the National Mortgage and
| Trust Company which is largely interested
in the syndicate, if not its actual head
| is also the registrar Of the Capital Trac-
ton Company. All transfers OF stock OF
Capital Traction must be registered with
this company.
Talk of the probability that the syndicate
will secure the Little Falls and other Po-
| tomac water rights is still heard Negotia-
tions are pending with the Garsdy syndi-
cate. of Philadelphia, which controls the
Little Falls rights.
| The third alleged new plan OF the syn
J dictate is the formation of another trust
| company in this city. 1t is said that the
West End National Bank is to be turned
| into trust company, and that the ar
rangements for the plan are already near
maturity. The rapid advance in the price
| of West End Bank stock during the past
two months is strongly confrmatory OF
this idea. A few weeks ago the stock was
selling below par $40 or SIS share At
present it is held for s13o to slS5, and lit
| tie is offered at any price.
The site for the new trust company is TO
be the big lot on the southwest corner of
New York Avenue and Fourteenth Street.
1t is understood that an option has been
obtained on the property by the syndicate.
The syndicate will make its payments
on the railroads and the Gas Company
stock before they are due. The statement
was made yesterday by a gentleman IA
miliar with the plans of the syndicate
that 1t wishes to obtain full control of its
properties as soon as possible and is max
ing its arrangements with this object IL
view. The second payment on the pur-
chase of the Metropolitan and the Colum-
bia railroads will be due according to tn,
agreement, before Wednesday May g. Thi.
payment is to be $4,000 One statement
made yesterday was that much larger
sum will be paid at this time, and that the
full purchase money for the railroads viii
be turned over within six weeks.
The combination has obtained almost tn,
entire capital stock of the two roads On:y
a few shares of each now remain in the
hands of individual owners, and it is pre-.
dicted that large part of these will b,
deposited with the American Security ant
Trust Company before the close of bust
ness Monday. which is the limit of time fo
| deposit