The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-02-27
Controlling Interests of the
Chesapeake Beach Road
Demand That the Minority
Stockholders Shall Bear
Part of Expenses.
Smaller Investors Asked to
Put Up Cash or Sell Out.
Planned to Introduce EleC-
trio Motor System.

Whatever the outcome OF the existing
controversy between tho controlling in
terost OF the Chesapeake Beach Rail
road. consisting OF from 81 to Sc per
cent OF the 100000 issue OF capital
stock entirely owned by David H. Moi
fat. the Denver millionaire. and the re-
naming minority stockholders. it is not
to be doubted but that the road viii
be benefited.
The alternatives submitted by Mr.
MoFfat. il IS learned. are that the min
ority shall either bear a pro rata share
in the cost of contemplated betterments.
or relinquish their holdings Of stock.
Minority's Attitude.
That the minority stockholders have
been reluctant to pay a share of the
$500. 900 betterments planned is an open
secret. It is hardly possible, however.
that they will wish to see the invest
ment deprecated through lack of i'm
movements for the road. AS Mr.. Moi
fat is firm in insisting that he viii
no longer take upon his shoulders the
entire expense. there is only left to the
minority stockholders to agree to one
Or other OF his propositions.
Mr.. Moff-t has announced TO the min
ority interests that he desires a meet
ing OF the stockholders. when the sub
iect OF betterments can be discussed.
1t is not learned that the replies in
dictate any eagerness to fall in with his
plans.
rent be reached. the road will be oper-
lted as At present during the coming
summer. and the proposed betterments
will be abandoned until the situation al
tiers This. however, is not likely out
come. and a few days should see results,
IL some arrangement has not already
reen arrived at
Betterments Planned.
The betterments planned for the Ches-
areake Beach Railroad consists OF the
installation of an electric system, ana
necessary rolling stock. The new presi-
Gent. SvI T. Smith a railroad man o.
wide experience. and recognized ability
believes that the resort at Chesapeake
rseach will reach a limited measure o
prosperity, readily estimated from re
cults since the opening OF the road. will
The present system OF steam motive pow
CT.
The future Of the road. Mr.. Smith be
lieves, requires that IL have terminal facil-
tiles within the city limits. and easily &C
eesfible. Graceland Cemetery property, 4
Fifteenth and Streets northeast. ha
been purchased at the cost of 1000. an
il has been proposed 20 build here de
4 All. L. 10 n ha a. n 70
ION AM Annapolis road. which woul
also use the came tracks within the DIS
trict of Columbia.
Congress viii not permit that the roa
shall come into the District under stear
rover. and foI this reason. If for no 9th
or. electricity is considered imperative
Electricity. IL is estimated. will largel
reduce the cost Of operating, besides al
low a better running schedule. Thes
eenents it Is proposed TO gain by the ex
-enditure OF $500 900. the estimated cos
d the improvements.
Mr.. Moffat's Announcement.
recent dispatch from Denver Al
nounces that the road has been acquire
by Mr.. Moffat BY the officials in tn
city this is not understood TO mean thu
the minority stockholders Of the roa
have sold to Mr.. Moffat- II is taken
mean only that Mr.. MoflGt has oficial
announced that he controls the road, a
acknowledgment that has not hereto
fore been officially made. although II
fact has been public property for SON
time through the following circuu
stances;
Suit was instituted last October in Il
Calvert county circuit court al Free
ericlStown. Nd. against the road by
H. Mohat and the First National Ban
OF Denver. OF which he Is president
recover on two notes OF 5000 eac
dated. respectively. August IS. 1899. a.
January .. 1900. Attachments were Ia
at tho time on the company's unmor
rngcd property. These suits T-cre d
cided within a month in favor Of Il
suitors. without contest. Further tn;