Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-07-13
LOCAL FINANCIAL NEWS.

HC appointment u receivers LOT tnt
Washington and Annapolis electric railroad
Is regarded by those interested in this en-
terprise as step in the direction of its pro-
motion short time ago the active work
of grading the proposed line between this
District and Baltimore was suspended as
explained at the time in The Star by Mr.
James ChriSty. jr., the vice president of the
company, for the reason that owing to the
condition of the financial market it was
impossible to realize on the bonds AS the
supply of money was exhausted, further eX-
penditure was stopped. Since then 1t has
been found that unnecessary complications
might arise, due to the enforcement of
claims against the company, and it was
deemed best to place the road in the hands
of receivers.
1t is the expectation that the present
conditions will shortly be improved. and
1t Is the purpose at the earliest moment
to proceed with the work and carry out
the design as originally planned. As will
be recalled, the company now controls the
steam road to Annapolis, and it is pro-
posed to change that line into one using
electric power. This section well
the line between this city and Baltimore
will be operated one system
The court of Alexandria county Virginia.
has favorably acted upon the application
of the company that proposes to build an
electric road from the south end of the
Long bridge to Falls Church, and then
Westwardlv to Fairfax Court House. The
company has secured from the property
owners the right of way from Falls Church
to Fairfax Court House. and on the 10Th in
slant the commission appointed by the
court will assess damages for the portion
OF the right of way not secured by the COM
pany through the section from the brick
yards to Falls Church. AS soon as the COM
mission completes this work and makes its
report to the court the money can he
placed in the custody of the court and the
building of the road can proceed
AS already stated in The Star the com
pany which is represented by Mr.. Geo. T.
Robinson. has made traffic arrangements
with the Washington and Arlington Rail
way Company, so that connection will be
made with that road and new line near Ar
lington junction. and the cars will be run
directly into the city to the terminus at
ennsylvania avenue and 1872 street.
With the exception of the sales of some
shares of Mergenthaler and Greene Copper,
there was practically nothing done today on
the Washington stock exchange. 1t WAS
evident the brokers had but few orders to
buy and those who had stock to sell could
not get an offer up to their limit
Gas certificates were offered at 121 and
bids We're made al 12OI, but none of these
securities were dealt in. A stock regarded
as one of the best on the local list Was
offered at a price that would yield per
cent, but there were no buyers found.
- The books of the gas company will be
closed the 18th instant for the payment of
the regular quarterly dividend Of 30 cents
a share. which will be made August l.
Some brokers had an idea that perhaps an
extra dividend of 81 per share would be
paid at that time. as done last year
1t is not generally thought that this pre-
cedent will be followed. and therefore the
dividend checks will be for 30 cents, and
not for 81 80.
1t is the expectation that the new stock
certificates will arrive from Europe with
the presidents signature during the pres
ent week. These are to be registered by
the American Security and Trust Com
pany before the distribution can take place
to the stockholders of record of June il