The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-19
THE CAPITAL RAILWAY
Dissatisfied BondholderS to Enter a
Foreclosure Suit.
Richard II. Wilson. of New York, and
A. T.. Rnutlc. of This City. to APP
peal 90 the Law To Enforce Pay
ment of the Compuny's Mortgage
NEUTRALITY-SUSPICIOUS. Probable.

The holders OF majority of the first
mortgage bonds of the Capital Railway,
Richard T. Wilson, of New York, and
A. L. Randle, of this city. have directed
the Washington Loan and Trust Company,
the trustee of the bonds. to foreclose the
mortgage for the non-payment Of interest
on the bonds.
Mr.. Randle yesterday made the state
ment to reporter for The Times that the
interest has not been paid at any time by
The company, and that the foreclosure is
necessary to protect the rights of himself
and MIR. Wilson. The bonds aggregate
se5. goo and the joint holdings Of these gem
tlemen constitute n large majority OF
this amount. The remainder of the bonds
and the stock of the company are owned
by the Washington Traction and Electric
Company. it is said.
The Capital Railways charter allows it
TO run from the navy yard gate at Eighth
and VI Streets southwest TO Congress
Heights. The portion of the line on the
Anacostia side of the Eastern Branch is
at present overhead trolley. Since the ac-
QUESTION of the line by the railway syndi-
cate the old Brown system" which was
formerly used by the Capital Rail
way on this side of he river, has
been torn up and has given place to
the open conduit system in general use.
The portion on the line extending from
Eighth and NJ Streets along VI Street to
Eleventh Street, about 1000 feet, has not
been used by the new company.
MIR. Randle stated yesterday that 1t is
the intention in foreclosiug the mortgage
TO obtain possession of the railway again II
possible and to begin its operation as an
independent line. He stated that it will
only be necessary TO construct the open
conduit system on the VI Street portion of
the line, and that the company will the n
have equal rights with the Anacostia line
to run over the remainder OF the tracks
to Congress Heights.
1t is understood that Messrs. Randle and
Wilson are particularly anxious to again
secure the Capital Railway because OF the
reported intention of Mr. Pabst, the Mil
waukee millionaire, to open large peas
ure park at Congress Heights.
The failure of the present owners OF the
railway to pay the interest on the bonds
Is possibly due, It is thought, to a willing
ness on tnelT part lndl tnt loietioSNic
may take place. This would allow the
syndicate to bid against the majority hold
ers of the bonds for the railway II 1t saw
fit. or to let Meesrs. Randle and Wilson ac-
qure the line. 1t is suggested that the
Anacostia Railway has all the franchises
necessary for he purposes OF the syndi-
cate. and that the Capital Railway charter
is in reality OF no value TO IL. "s .....
II is said that Messrs. Randle and VII
son. on the other hand, apprehend that
the charter OF the Capital Railway may
be forfeited by the abandonment Of the
NJ Street portion of the line, or in some
other way.
The law regarding the use OF trackage
Jointly by two or more companies in the
District is that they shall make private
arrangement as TO terms. failing which
suit may be entered in the District Su-
preme Court If the Capital Railway
should be obtained again by Messrs. Ran
die and Wilson they would be required,
under this law to make satisfactory ar
rangement with the Anacostia line as TO
the use OF the improvements made by
that company.