The evening times. [volume] (Washington, D.C.) 1895-1902, 1902-07-16
Philadelphia, Baltimore,
and Washington Com
rany Formed
WILL EMBRACE THREE ROADS
New Corporation Will Control Railways
IN Pennsylvania, Delaware, and
Maryland-Lines Controlled by Penn
sylvGnia Railroad.

The merger Of the Baltimore and Pc
tomac Railroad Company with the Phila-
delphiar Wilmington and Baltimore
Railroad Company into a new company
TO be known as the Philadelphia. EaIti-
more and Washington Railroad. has been
approved by the directors OF the first
named corporation As 1t is not expect
ed that much opposition viii develop
among the stockholders the coGsclida-
ton Of the two lines viii probably soon
be an accomplished fact
The merger was considered and az
proved BY the directors OF the Baltimore
and Potomac Railroad Company at q
meeting held yesterday in Philadelphia
and VIII be referred TO the stockholders
OF both companies for their approval at
meetings TO be held some time in Au-
gust rs the stock Of both companies is
nearly all held BY the Pennsylvania
Railroad. the approval of the merger Is
& foregone conclusion
Capital Of New Company.
The new company viii be ca7ffaI;ze5
al an amount equal 70 the combined cap
ftal OF the Two companies. and the pres
ent securities wiH be exchanged for
stock OF the new company on the basis
OF the market value OF the stocks Of the
present companies
Al another meeting held yesterday liz
PHILADELPHIA the board OF directcrs oi
the Philadelphia. Wilmington and BaItf-
more railroad Company approved the
plan for the consolidation with the Raj
nj Do
me action OF the board is also to he
submitted TO the stockholders for their
approval some time during the last week
Of August
Pennsylvania IN Control
The stock Of the Philadelphia. VIII
nington and Baltimore Railroad and the
Baltimore and Potomac Railroad Com
panies is practically owned BIZ the Penn
sylYania Railroad Company, and tn
resolution TO secure the consent Of tn,
stockholders is in compliance with the
Law as there can be no objection 10 fhs
consolidation
For some time past the plan for the
consolidation OF these two roads mas
been before the different boards. but
owing 10 some legal technicaIfties no
action could be taken until they wers
satisfied The stockholders Al their
meeting IN August wiII vote on the
proposition not only to consolidate these
Two companies, but 20 merge them into
Z ne" company to be called the Phila-
oelphla, Baltimore and Washington Rail
road The capitalization of the 1e-,
company is to be the same as that Of the
Philadelphia, Wilmington and RaItf7o-e
ana baltimore and Potomac Railroad
Companies combined
No Opposition Expected.
There VIII be very little trouble IN
eheeting this change as outside Of a few
stockholders all the stock of both oo-,
panies interested is held by the Pennsvi-
Eania Railroad Compsny. and as it is
scheme Of the latter company 10 con-
solidate these two companies The MA,
VIII De carried through as spee,7ilv aS
Is consistent with the laws OF the Sto+e
interested. 0'1'e
This deal only takes in the PhiladeI-
gH,e, wilmington and Baltimore and the
baltimore and Potomac Railroads CO..
eI-hs distance OF nearly 40 miles. the
greater portion Of which belongs "a the Z
former company All the details no.
tanning to the change have been mr.
pared and as soon as the stocEboIders J
tshe action the plan VIII be carried ia+o
eHect- This change vas made princiosI- 1
y Win the idea o. consoIidaffn0 tbo (
various departments OF the ecra1anfss
anu DONG away with the nur,be-e - &
VaFlous accounts that have 10 be Ken
oHoeF TIE new arrangements only ono
system OF accounts viii be required ar,7
=, zee same time the division OF rates
.i ~ -l-.s oeen IN force for many years