The Washington times., 1908-11-20
FALLS CHURCH LINE
HAS A NEW OWNER
Mt. Vernon Railway Takes
Over Interurban Road Un-
der 5l-Year Lease.

a pr-CticaI consolidation of the Wash
iugtou, Alexandria and Att Vernon
Railway Company and the Washington
Arlington and Falls Church Electric
Railway Company. has been effected
by the officers and directors of the two
roads. in the filing OF a lease in Fair
fax County Court House, under which
the Falls Church line passes into the
hands of the Mt Vernon line for =
period of hfty-one years.
Under the terms Of the lease, the Mt
Vernon line and its officers have COM
plete supervision ard control of the
other line. The only consideration for
the lease, as shown in that document.
is the guarantee by the Mt. Vernon line
OF an annual dividend 10 the stOCkhCId-
ers OF the other road. No cash COHsid-
Grafton was paid. SO far as can be
learned.
The negotiations for The transfer OF
control were conducted by c. +. King
and r. w. King, president and general
manager Of the Mt. Vernon line, and
r. A. Chester, president Of the Falls
Church line
Until five months ago. the Washing
ton, Arlington and Falls Church line
was in the hands Of a receiver, the re-
ceivership having been instituted I0I-
lowing the fatal collision between a
passenger and work train near Claren-
don in the summer OF 1907.
So far as can be learned, no changes
viii be made in the personnel of the
office force or management Of the Falls
Church line In the near future, this line
being run as separate property. Cen
eTal Manager King, of the Mt. Vernon
line, said today that the improvements
which have been under way on the Falls
Church line viii be continued, and that
this line Will be made a first-class road
IL every particular.
six new cars Of the big Brill con-
vertible type are now on their way to
the BalstOn shops, he said, and the
improvements to rOadbed and traCkage
VIII be extended.
1t is understood that officials Of both
lines are greatly pleased with the con-
sOlidatiOn of interests and the terms
Article 3 Of the lease provides that the
lessee (the Mt. Vernon line) guarantees
the prompt payment of a dividend on
500 900 of stock OF the Washington,
Arlington and Falls Church railway on
the days. at the rates and in amounts
as follows:
July ]. 1909, 1 per cent, 5000; January
L 1910. l per cent 5000, July ], 1910
IL per cent, $3.50; January 1, 1911, ~
per cent, $500, July 1, 1911, 2 per cent
$1,000; January !, 1872, 2 per cent. S1O.-
coo; July 1, 1872 27a per cent, Sl2,500;
January !, 1913, 2l2 per cent $l2500;
July I, 1913, per cent, $4,000. and
thereafter a semi-annUal dividend pay
able on the lst of January and the 1st
Of July or 3 per cent. or $4,000 for the
fun term OF the lease.
This guarantee of $4,000 annually TO
the stockholders Is the only cOnsidera-
ton for the lease, so far as stated. All
income over and above this viii go TO
the Mt. Vernon line. The lease is signed
by Clarence p King for the Washing
ton, Alexandria and Mt Vernon line.
and by R A. Chester for the Washing
ton, Arlington and Falls Church line.
The consolidation of the two lines run
ming south and southwest in Virginia
leaves only one competitor In the held,
the Great Falls and OLD DOTiniOn line
The two consolidated lines. g. is eX-
pected will be greatly improve, tnC it
was said by one of the Officer .OdIy,
in addition TO better cars and better
tracks. both lines would give better
service.