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
cussed in F Street yesterday afternoon that
the Washington Traction and Electric Com
pany has made a bid for the Capital Trac-
tion Company's street railway lines. It
was stated that the price offered for the
line, OF for a controlling interest in it, was
500 share The principal holders of the
capital stock we're said to have refused this
price, but it was intimated by those who
made the statement that the deal Will
probably be consummated at a 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 it.
1t Is known that several months ago an
offer Of $50 a share was made 10 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. Il IS not under
stood that any formal proposition to the
officers OF the Capital Traction has been
maui Out statement Atoltiudy WIS " tue
effect that the Capital Traction people ap-
preached have expressed their willingness
to sell for $40 a share.
President Dunlop. OF the Capital TTac-
ton. when seen yesterday afternoon. made
the following statement regarding the mat
ter:
Il have heard the rumors in F Street.
No offer has been made to me or through
me for the line, and I do not know of any
offer to any other officer or stockholder.
You may deny the story absolutely, as far
as | am concerned"
President Truesdell 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 buy the Capt.
tai Traction. The story is wholly untrue
Several months ago there were some tenta-
tive negotiations, l believe, but they we're
Broken on, and have not been taken I'D
again. II 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. I do not believe
that even this has occurred, however |
suppose that the whole thing is a brokers'
story. II any such offer has been made it
was entirely without the knowledge or con-
sent OF the Washington Traction and Elec-
trio Company"
An officer Of the syndicate, who did not
wish to have his name used, made the fol-
lowing statement: we have had intro
duced in Congress a bill which gives us
the right to acquire the Capital Traction
Company by purchase and to consolidate It
with our system OF lines Ii Is probable
that at some time in the future this will
occur. That seems 10 be the logical out
come OF the situation here But the bill
has not been passed as YETI
The Washington Traction and Electric
syndicate owns all the street railways in
the District except the Capital Traction
In addition 1t owns the two electric light
and power plants and the Great Falls
Power Company. 1t was formed last year
New York capitalists contributing the sum
necessary to buy the different constituent
and re-equip many Of the rail
ways. The work OF equipping all the lines
using horse power with the mod
ern underground electric power has been
In progress since the company was formed
but is not yet completed The company has
$l2. 600 600 Of capital stock OF which $40,
900 600 is outstanding and 800 900. 900 OF
bonds. Of which somewhat more than $i2.-
600 900 have been sold
The Capital Traction Company the only
system outside the syndicate has a capital
stock Of $l2 000 600, and an issue Of bonds |
for 81 900 600 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 90 and a fraction. Il has sold as
high as % recently. The present dividend |