The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-01
CAPITAL TRACTION LINES.
Denial of the RumOr That Bid Has
Been Made for Them.

The rumor was current and much dis
cassed in F Street yesterday afternoon that
the Washington Traction and Electric COM
pany has made a bid for the Capital Trac-
ton Company's street railway lines. 1t
was stated that the price offered for the
line, or for a controlling interest in it, was
500 share. The principal holders of the
capital stock were said to have refused this
price, but it was intimated by those who
made the statement that the deal Will
probably be consummated at somewhat
higher price in the near future. The ru-
NOR of the deal cannot be verified at the
offices OF either of the companies inter-
ested, but despite this fact several business
men, usually well informed regarding the
affairs of the companies. express the
opinion very positively that there is ex
cellent foundation for ii.
1t Is known that several months ago an
offer of $50 share was made to some OF
the principal stockholders of the Capital
Traction for their stock. This offer was
refused. The present bid is supposed TO
have been made In the same way, and to
the same stockholders II is not under
stood that any formal proposition to the
officers OF the Capital Traction has been
made. One statement yesterday was to the
preached have expressed their willingness
to sell for $40 share.
President Dunlop. of the Capital Trac-
ton, when seen yesterday afternoon, made
the following statement regarding the mat
ter:
Il have heard the rumors In Street
No offer has been made to me or through
me for the line, and do not know of any
offer to any other officer or stakeholder
ma 3arlV Ct aIac altrta I.- far
as l am concerned
President Truesdeil also denied that any
offer had been made as coming from his
company officially, at any rate. He said:
THE Washington Traction and Electric
Company has not offered to bug the Capt.
tai Traction. The story is wholly untrue
Several months ago there were some ienta-
tive negotiations, l believe, but they were
Broken off, and have not been taken I'D
again. 1t is possible that some person in
terested in this company may have made
enquiries of the Capital Traction stock
holders regarding the price at which they
would be willing to sell. do not believe
that even this has occurred, however
suppose that the whole thing Is brokers'
story. If any such offer has been made it
was entirely without the knowledge or con-
sent OF the Washington Traction and Elec
trio Company"
wish to have his name used, made the fol-
lowing statement: I'VE have had intro
duced in Congress a bill which gives US
the right to acquire the Capital Traction
Company by purchase and TO consolidate 1t
with our system of lines. 1t is probable
that at some time in the future this will
occur. That seems TO be the logical out
come of the situation here, But the bill
has not been passed as yea"
The Washington Traction arid Electric
syndicate owns all the street railways in
the District except the Capital Traction
In addition II owns the two electric light
and power plants and the Great Falls
Power Company. Ii was formed last YER,
New York capitalists contributing the sum
necessary to buy the different constituent
companies and re-equip many Of the rail-
ways. The work OF equipping all the lines
formerly using horse power with the mod
ern underground electric porsr has been
in progress since the company was formed.
but is not yet completed. The company has
81. 900. 600 Of capital stock. of which S10,-
900, 900 is outstanding and 800. 900. 900 of
bonds, of which somewhat more than S12.-
900, 900 have been sold
The Capital Traction Company, the only
system outside the syndicate. has a capital
stock of So. 900 900 and an issue of bonds
for $1,000 600 is to be made Immediately
to take up the Indebtedness of the COM
pany incurred when the electric equipment
was Installed.
The Capital Traction stock sold yester-
day at SO and fraction. II has sold as
high as % recently. The present dividend