Evening star., 1901-10-01
MINORITY HOLDERS PLANS
IN CITY AND SUBUR-
BAN RAILWAY HOLD MEETING.
Committee of Three Appointed to Rep
resent Their Interests in Litfga-
tiOn and Otherwfse.

meeting was held last evening in the
office of Bloomer & Ffoulke, 1881 F street,
of owners and representatives of 3,1O0
shares out of some 1900 shares of what is
known as the minority stock of the City
and Suburban Street Railroad Company.
Authority was given to a committee to act
for those present in the legal proceedings
begun for the appointment of a receiver for
the road, and in any other way that will
be for the best interests of the stockhold-
ers represented.
Mr. Charles p. Williams presided over the
meeting and a committee was appointed,
composed of Leon Tobriner, Charles p.
Williams and John F. Shea of this city and
D. NJ. Newbold CT Baltimore, which COM
mittee, acting under authority given by the
holders of the stock, will have charge of
the prosecution of the proceedings for a
receiver. and will also represent the minor
ity stockholders in the legal contest of the
suit for a judgment of $4,000 which has
been entered by the United States Surety
and Mortgage Company against the City
and Suburban Company. An agreement is
being drawn up and will be presented to
the stockholders represented at the meet
ing for their signatures. An opportunity
will also be given to all the minority hold
ers to participate in this united effort to
protect what is believed to be their inter-
ests. The decision was reached to ask each
Stoekholder to contribute his proportion Of
and for the other details of the legal fight.
AS is we'll known all the rest of the
stock of the company, amounting to 81, 600
shares, is owned by the Washington Trac-
tion Company, which is the holding COM
pany for the securities of the eleven street
railway companies and the two electric
lighting companies acquired by those now
IN control of these properties. 1t is the
belief of those who have gone into the
movement of the minority stockholders that
their interests are threatened by the pres
ent course of the management, and for
this reason, it is said it was determined to
begin proceedings. The minority stock
holders are ready, it is stated, to dispose
of their stock to the Traction Company,
put thus far no offer has been received
from the holders of the majority shares
Effect Undetermined.
1t Is not known what effect the proceed
ings already instituted will have upon the
plans of those owning the various proper
ties held by the Traction Company The
first in order Of the legal steps Is the suit
begun by the United States Surety and
Mortgage Company to secure the payment
OF money claimed to have been advanced
to the City and Suburban Company. At the
same time plan for the reorganization of
these companies has been submitted to the
washington Traction bondhoiders and
stockholders, and if this plan can be car
ried out there will be new company
formed. with bond issue secured Dy a
mortgage on the united properties The
preliminary step will be an order from the
court for the sale Of the stocks of the hold
Ing company, and it is probable that a be-
ginning will be made in these proceedings
shortly after the middle Of the present
month.
In addition to the minority stockholders
of the City and Suburban there are those
who have similar holdings in the other
companies controlled by the Traction Com
pany. 1t is stated that the ownership of
the stock of the Washington and Great
Falls Company has been completed since
the acquisition of the property by the pur-
chase of the few outstanding shares of
stock. The same course has been followed
In the case of some of the other proper
standing City and Suburban there are some
shares of stock. of the Metropolitan. the
Georgetown and Tenleytown and the Wash
ington and Glen Echo which are not the
property of the syndicate