Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-08
LOCAL FINANCIAL NEWS.

are actively identified with at least two Of
the three local street railways. the reports
that have been In circulation for day or
two past that an amicable understanding
had been reached in regard 10 cross-town
privileges are absolutely without founda-
ton. The assertion Is further made that
there Is practically no change In the lineup
as 1t was made at the last session of Con-
gress when the bill OF the Old Dominion
railway was up asking for the privilege of
connecting It's line which enters the city at
the Aqueduct bridge with the union depot
by means of a new cross-town road via M
street.
At that time the Washington Railway
Company and the Capital Traction Com
pany were united in opposition to granting
the right TO the new company The only
change In the situation that is suggested
from those who are familiar with the condi-
tons is a possible arrangement between the
two systems by which they will unite In
favor of granting to the Capital Traction
Company the right to build the proposed
cross-town line.
1t Is said on behalf of the Old Dominion
Company that 1t Is the intention to fight
suoh a proposition. and to struggle val
iantly for the bill which was before the last
Congress. This summary of the matter
makes 1t evident that there Is no change
since last year, except that of the two APP
plicants for the cross-town privilege one
having the support of the only other street
railroad system in the District.
AT meeting of the directors of the Old
dominion and Great Falls Railway Com
pany, which was held yesterday. Mr.. John
r. Mclean was elected president in place
or Mr.. John Leetch, who was chosen the
early part of last summer to take the place
OF MI Robert Weaver. whose absence from
Ia ri led rNh iG racip ion Nv fpl,
simply took the place while Mr.. Mclean
was away for the summer.
During the past few months he has held
the office the work of construction has
gone on steadily, and practically the entire
northern half Of the line has been com
pleted. The rails have now been laid on
the entire route, with the exception of
small section at the northern end, which
was delayed by the legal controversy over
securing the right of way through the land
owned 9Sn by interests connected with d the
pany In the immediate section of the falls.
The new road secured from the court the
right Of way and the balance Of the line
Is being built.
The rails have been laid across the
Aqueduct bridge and over M street to the
head of 36th street, where there Is stub
end 1t Is expected that In the course OF
the next few days the running of cars over
this road as far north as the rails have
been laid will be begun.
1t Is expected by the officers Of the Wash
inGton Safe Deposit Company that the new
charter from the state Of Virginia Will be
ready for the action Of the directors at a
meeting to be held this afternoon. There
has been some delay in getting this instru-
ment, which was applied for several weeks
ago. Owing to the fact that the old char
ter had expired and the stock could
longer be transferred, 1t was decided by
the governing committee at the stock ex-
change to drop the stock from the list.
The expected action of the company will
result In making the stock eligible to be
restored to the list.
The National City Bank will take pos
session Of the G street wing Of the build
ing Of the American Security and Trust
Company the nth instant, preparatory to
opening for business three days later.
Owing to this change the American Sc
curtty and Trust Company will occupy
the 14th street wing of its building.
where it's business will be carried on
during the next week, or the week end
ing the 18th instant.
On the following Monday which will be
the 18th instant 1t is expected that the
new building, Pennsylvania avenue and
18th street, VIII be ready for occupancy
and that It's friends will be received.
Cards of invitation are to be sent out
for the opening day of Monday the 18th
Instant.
The session of the stock exchange today
was not marked by any more activity
than has been the case for Soms days
past. At the same time. there was no
change in the favorable conditions which
have characterized the local market dur
ing the entire period of reduced volume
OF business.