The Washington times., 1906-01-15
NEW WORKERS AF TER
LT|MORE TROLLEY
Plan to Control Electric
Lines Of That City.
$1OO,000,000 CAPITAL
Financial Circles Stirred by Rumors Of
Great Combination to Buy
the Roads.
$1OO,OOO,OOO CAPITAL

BALTIMORE. Nd, Jan. 15.-The fu-
ture OF the United Railways and Elec-
trio Company is the eoso-bing topic in
local financial circles. y fresh crop of
rumors about the property was started
today, but there was no authentic news.
The report most widely current and the
one which received the most credence
was that the property would b taken
over by the same interests that control
the Consolidated Gas, Electric Light and
Power Company. and that it would be
followed by another combination Of
public utilities 10 include the gas. cleo
tric light trolley lines and telephone
companies
The names of Thomas +. Ryan, of
Equitable Life fame. James A Blair.
and the interests that generally stand
with them and Alexander Brown are
mentioned as sponsors for this alleged
gigantic combination. which would have
a capitalization Of upward of 500 1000, COO.
Income BondholdeIs' Plan.
Another report which gained credence
was that the income bondholders' pro-
tective committee which failed 10 compel
the management To pay the coupons al
ready due and as they mature has
plan 10 acquire the property through
purchase OF a majority Of the stock.
According TO this report the income
bondholdeTS who have allied themselves
with powerful interests in the East and
fin the West are willing to pay SIS a
share for control
Still another report out is that the
Washington. Baltimore and Annapolis
Electric Railway Company is after the
property. This company is asking for
the privilege OF laying its tracks in
Baltimore, but when il first asked the
franchise was opposed vigorously by
the United. Recently, however, an
agreement was reached between the two
and theS s7en TO dwell in perfect har-
mony Many well informed persons in
financial circles make much out Of this
Alexander Brown. the banker. who
with Michael Jenkins. George G. Jen-
kins. and Joseph W.Jenkins. owns a ma
JOriJy of the stock and absolutely DOM
mate the property. was asked what ba-
sis there was for the reports current
lie said he had heard the Vumors but
ala not know their origin He said that
he mad not received an offer for has
stock and that If control Of the company
had been sold he does not known il. He
added.
Public Waking Up.
II am not surprised by the sudden
demand that has developed for the
stock. 1 attribute it TO the fact that the
public is Just waking uu 10 the fact that
the business of the company is increas-
Ing rapidly; and. with the increasing
revenue from traffic. the question of
financing the needs viii be easily solved
II any outsiders have any plan tor OBJ
tanning control OF the company. / have
absolutely no knowledge OF il and am
- much ~ the dark III this respect as
the general public
There was scramble to buy United
railways and Electric stock on the
STOCK exchange on Saturday and dur
ing the ninety minutes OF trading there
were over 1850 shares changed hands
the largest transactions in the stock for
Years. The buVing was general and the
Price advanced more than 81 share.
me income bonds We're also active and
sou up 10 10. A little more than q week
ago they sold al 65il.
Holds a Monopoly.
The United Railways and Electric
Company holds monopoly on the street
railway lines in Baltimore and suburbs
IT Is "a combination of all the trolley
companies which was effected in 1924
The company has an authorized capital
or SN.mOOO. OF which S24O00.O0O is COM
mon and Sl+000cGO preferred or the
common only S15.000,0O0 has been issued
and there is only $50. 30j.63 of the pre-
Ierrec outstanding. the greater part of
the preferred having been retired by
issuing income bonds
Ihe. company's funded debt amounts
40 Sal'SolcJfU The earnings of the
company have shown "a remarkable in
crease during the last few months. and
this fact has directed attention TO the
property.
The latest report is TO the effect that
unless something goes wrong that is
not now expected the control of the
United Railways and Electric Company
VIII be taken over by the New York
syndicate in a rev DAYS The common
stock. which is in the control OF a pool
II IS stated, viii be taken over at the
rate of 50 per share. The pool con-
trolls - per cent. and can deliver the
goods. though il is stated the minority
interests may make trouble unless they
are well provided for