The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-13
TRACTION SYNDICATE RuMoRs
Probability That the ReorEnniza-
ton Will he Taken Up Now.

| ton Will he Taken Up Now.
1t is one of The rumors in F Street tina
the reorganization of the numerous rail
ways of the Washington Traction ant
Electric Syndicate has been taken up il
| earnest.
| There has been much comment during
| the past month or two over the fact that
! the provisions of the law passed by the
! last session of Congress allowing this re-
| organization have not been carried out
| Various reasons for this delay have beer
| hazarded by people who might be sup
posed to know something about it, but
the officers of the syndicate themselves
have been extremely reticent.
One theory has been that with the earn
ings of the syndicate not up to expecta-
lions and capital trifle shy regarding all
consultations of late it has been i'm
possible to secure the necessary funds for
the deal. Now. since the election, it is
! said. the financial world feels easier over
the future for consultations in general and
more disposed to invest in them, and the
requisite money Is in sight or rather ac-
tuallv subscribed
Numerous and intero sting modification
and ramifications of this story are afoat.
One of these has to do with the fact that
the bonds of the syndicate have been de-
Ginning steadily and rapidly, in the stock
market of late.
Washington Traction bonds were sub
scribed for at par when the syndicate was
formed. 1t was said, however that the
issue of $40, 600 900 was not nearly ali
taken By the public. There was e gradual
decline in the market price to around 20.
| as it became known that the earnings Of
the syndicate properties were not as
large as had been estimated.
Recently the bends were listed on thu
local stock exchange. although for long
time the syndicate was understood to be
opposed to their being listed. 1t was said
when the exchange took this action that
the syndicate had withdrawn its objec-
ton. Since that time there has been
another rapid decline in the market price
of the bonds to between 81 and 60. 1t has
been whispered that they would sell at a
figure several points below this.
Some people are not satisfied with the
simple explanation that the bonds have
been going down because of the peer
earnings Of the syndicate. They hint hat
the insiders who are going TO put up
money for the reorganization wish to get
as much of the present bond issue as
possible and at as low price as oss.ble
Theorizers along this lire say that the
present decline is a manipulated one to
discourage holders OF the bends into SELL
Ing out at bottom prices.
The old gossip relative to the pcssibii-
ity Of merging of the Washington Trac-
ton and Electric properties and the APP
ital Traction Company has Teen revived
also since The election. Insiders OF the
Capital Traction when asked regarding
this deal look mysterious and say that
the Washington Traction syndicate will
be obliged to secure the Capital Trac lon.
now or at some other time. Officers of
the syndicate with much the same Y
preston say that 4 merger seems the
natural course OF events some day.
Neither the one party nor the other dis
closes any tangible facts. 80.