Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-03-21
STREET RAILROAD RUMORS
Effect of the Advance in Capital Traction
Stock Quotations.

The stock of the Capital Traction Street
Railroad Company today, in the quotations
the Washington stock exchange, adj
vanced four points over the price of yes
terday, so that at the close 103 IS was
the bid 1t is stated that after call as
much as 1041a was bid for the sstock, and
that none was offered. Even under the
stimulus of the advance in prices only
about six hundred shares were brought
out, while yesterday over eight hundred
shares were sold at % 1-S and 100
The stories that have been current for
some time of prospective purchase of the
road are told on the street now in more de-
tail and with more positiveness of assertion
than was the case several days ago. Some
brokers assert that they have seen letters
from people in Philadelphia asking about
the terms of the sale Of the road. Some 60
so far as to say that these people have sent
representatives here who are now engaged
in examining the books of the company
with the view of determining whether they
shall accept the terms of the sale which, as
generally known. stipuate first that there
shall be a deposit of one million dollars in
cash, and then the directors will submit
offer for tha purchase of the stock to the
stockholders providing that at least sl25
per share is offered for the stock and that
every stakeholder who wishes to accept
such an offer may have the chance to do 50.
Have Been Approached.
Representatives of the company d. not
deny that they have been approached by
persons who have said they wanted to buy
the road. but they assert that nothing more
has been done than to give the terms as
outlined above. and upon receipt of these
terms the persons proposing to make an
offer have stated that they wished TO send
some one over here to inspect the books of
the company. 1t is claimed that such a rep
resentative has not yet arrived
1t should be added that while those who
are prominent in the affairs of the company
have made no great secret of this and also
of somewhat similar offers, and have rather
freely told of the various stages IN the
progress SO far made, yet they have not
given much information as to the identity
of these alleged purchasers what they
wanted with this railroad property amt
what they intended TO do with 1t should
they get II.
The current gossip of the street today was
| TO the effect that railroad organization in
| Philadelphia. known as the American Rail-
1 way Company, is the one referred To as
having made the inquiry above mentioned.
| II IS thought by some that IL they are really
| in earnest, and desire to buy the road. then
| they also intend some time to acquire the
| other railroad properties in this city which
! are now controlled by the Washington
| Traction and Electric Company.
Idea of Speculation.
| People are of the opinion that If there
/ is anything in the rumors about the pur-
| chase of the Capital Traction Company. ex-
| cept the speculative effect on the market
! price of the stock. either directly or
/ indirectly 1t means the ultimate consoII-
dation Of the two existing street railroad
| systems in this District. However, there
/, is no definite information on this point
| but there is good deal of gossip and talk
| in financial circles and the continued ud-
| vance in the market quotations of Capital
Traction stock Is looked upon in some quar-
tiers as confirmation of the theory that a
| sale is contemplated On the other hand, /.
Is believed. stated, that the present
| movement in Capital Traction Is chiefly
| speculative, and that the current talk of a
| sale Is merely to advance the market price
| of the stock