The evening times., 1900-03-22
THE CAPITAL TRACTION DEAL.
The American Railways Company
Making Examination Today.

4 INC american Railways COmPany
Making Examination To-day.
The agents Of TIE American Railway,
Company are in the city TO-DAY beginning
tieir examination OF the Capit4I Traction
/ property preparatory to making theil
formal offer for its purchase They ar
! rived in the city last night and today are
I In conference With the officers Of the com
| pany, and making an examination OF IL.
/ books. II is positively announced BY I
gentleman having authority that no oneI
Of less than SlZ5 a share viii BE- considered
nor any offer for the controlling interest
simply.
u is said that only bid OF s125 a share
fcr the entire $126 600 capitalization OF
! for all the stock offered would be submit
ted 10 the stockholders and 10 is generally
! believed that such an offer would be ac-
eepted by large majority If not by the
entire capital stock. The opinion in the
/ Street this morning was that such a bid
is extremely likely within a very short
| time. Another condition precedent 70 the
consideration Of any offer will be the de-
posit Of large guarantee understood 10
be 81 900 .0O0
When the announcement was made in
The Times several weeks ago that ne
gOtiations for the purchase of the Capt.
tai Traction were under way the real facts
OF the matter were guarded so carefully
that there was for a time much skepti-
cism regarding it, During the present
week there has been no disposition in
any official quarter 10 deny the facts and
the street generally even believes more
than Is true regarding them. 1t may be
/ stated very positively that no foraml Of
/ Ter liking price has yet been made by
the American Railways people. The fact
! that they are willing TO pay . much high
er price than par IL shown very conclu-
sively. however by large orders in the
market today from Philadelphia interests
closely Identified with them. Ii Is under
stood that il the Capital Traction people
would sell Tor 10 q share the deal could
be closed Immediately.
There is much gossip in the Street re-
garding the position OF the WashingtCn
Traction and Electric Company. or its
hackers. in the present negotiations. but
as yet nothing definite has been learned.
An officer Of the Capital Traction Compauy
this morning stated 10 a reporter for The
/ Times that he did not know II the syndi-
Gaze is behind the American Railways Com
psEv in any way OF not He refused 20
say that he did not believe them ia the
deal however one theory is that he syn
dicate is purchasing through the Phila-
delphis concern for convenience and %
avoid publicity al this early stage Of the
negotiations.
II viii be remembered that there was
no positive knOWledge regarding the syn
dieste during all the negotiations fGr the
United States Electric Light Company and
the Metropolitan and Columbia Railways.
Officers Of the syndicate in this city even
did not know that the deal was on foot
until IL was completed.
Another theory, aud one more generally
believed. perhaps, is that the American
Railways Company is 20 reality Ia the field
for all the railways in the District. the
syndicate lines as well as the Capital Trsc-
tion. No confirmation Of this theory can
be obtained from officers Of the syndicate.
Capital Traction stock was again wildly
buoyaEJ In the stock market this morning
10 advanced 10 10 from lO3 IS. the closing
price yesterday and the bidding FOR it was
confident and even feverish during the
entire points rise. A very large amount
Of the stock was sold, Orders from Phila-
delph.s with no limit on the price under
20 are understood TO have been IN TIE
market and IL is known that several large
blocks oi the stock bought were for tie
Philadelphia people.