Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-31
HEARDON 'CHANGE

a happening of interest of the past
week in financial circles was the change
in the officers of the Washington Rail
way and Electric Company. In accord
ance with the policy which had the sane
ton of practically all stockholders of the
company. as declared at the annual cleo
ton of last January. Clarence F. Nor
ment was chosen president in place of
Allen L. McDermott who represented
these formerly in control of the prop
erty.
Ward Theron was made first vice pres
ident. succeeding Mr.. Norment in that
capacity. George II. Harries was contin-
ued second vice president. position
he has held now for number of years.
Mr.. Theron has been actively identified
with the company since the beginning of
the year and like the other two officers
mentioned. represents the change in the
ownership of the stock which has been in
progress of late years.
Passing of Ownership.
AS revealed at the January election, the
| ownership of these important properties
is In the residents of the city. The men
who are now in the management repre-
sent the change that has taken place. 1t
is believed the passing of the ownership
WI THIS pIpftItN hot oHly lItO local HdIuS.
| but into local management. will prove of
utmost advantage not only to the public
that make use of these important lines of
communication. but also to those finan-
cially interested as stockholders.
1t is not meant to be inferred that the
voting trust in charge of the company
for some years past failed in doing their
best for the property in It's power. but ii
is the belief that such property Is apt to
be more efficiently handled when the own
and are on the ground. where they can
see for themselves what is being done and
what is required.
AS the business of the company is grow
ing. due. of course. to the rapid advance
in the popula ton. the important element
ceipts is assured and what remains is
economy in administration with proper
provision for doing the business TO the
best advantage. 1t may be said that the
estimate of the value and of the future
of this property which is generally held
is much changed from what 1t was some
time ago. So in this respect the situa-
ton has materially improved.
Talk of Merger.
While the effort failed made with such
persistence while the Union station bill
was pending in Congress to introduce
here the universal transfer system. yet
| those interested in street railway prop
critics in this city is undoubtedly one rea-
son for a revival of the talk of merging
the two street railway systems that con-
troll the entire business in this city.
The opinion seems to he that proba bly,
this will not be undertaken right away.
Yet there seems rather confident belief
among those who are more or less ia
nliliar with such matters that something
of the sort will eventually be done. In
that case there would be no need for agi-
tation about universal transfers. With
all street car lines under one manage
ment. the interchange of business be-
tween intersecting lines would. it is
thought. be in operation. 1t is possible
there may be no organic union of the two
| systems, but something on the plan of a
community of interests might be adopted
AT the same time the charter of the
Capital Traction Company permits an is
sue of stock for the purpose of acauir-
| ing intersectng lines. Sc if an actual
union of the two systems was desired il
| could be brought about without appica-
ton to Congress for additional legisla-
| ton.