The Washington herald., 1908-07-11

! Following the action Of the court dis
solving the receivership of the Arlington
and Fails Church Electric Railroad Com
pany, reorganization has been effected
and the property has passed TO new
hands. r. A. Chester. formerly vice presi-
dent OF the Commercial National Bank.
was elected president of the railroad
company and J. w. Rich. secretary-treas-
urer.
! The property Is now under the control
/ OF these two men. representing capital
lists. It is said. closely allied with the
ownership OF the Washington. Alexan-
dria and Mount Vernon Railroad Com
pany. and IL is assumed that the two
! systems Will be operated in connection
with one another.
The statement was made yesterday by
person closely associated with the new
management that Il IS the intention OF
the new owners OF the property to spend
/ about 10000 in betterments. and with a
view to improving the service Of the
/ lines.
Receivership Dissolved.
The property has been in the hands Of
receivers since about the beginning Of
/ the year. Park Agnew and Maj. Charles
Hines being the receivers. Yesterday this
receivership was dissolved by Judge Ed
mund waddil. jr.c OF the United States
Circuit Court, and the property formally
delivered 70 the new owners, represented
by Mr. Chester.
/ Several months ago plan was started
by the owners OF the Washington, Alex
andria and Mount Vernon Railroad Com
pany to purchase the Falls Church line.
but after a time II was abandoned and
the purchase was carried out by some OF
the capitalists interested In the Mount
Vernon road. assisted by Mr.. Chester
and others.
1t is understood that the cars OF the
new line will continue 10 be run into
the city TO the station OF the Mount
Vernon road. at Twelfth street and Penn
sylvania avenue. and that there Will be
no perceptlble change IN the management
OF the car schedules for the present
II The Falls Church property was mainly
owned by c. S. and G. r. Hinchman. OF
Philadelphia, and In the past has been
managed by persons representing them.
Accident Crippled Finances.
The affairs Of the corporation fell into
more or less confusion following a seri-
ous collision upon the line out OF Roslyn
last year. in which several persons lost
their lives and several others were seri-
ously injured Damage suits and the
Intervention OF the corporation commits
sion Of Virginia crippled the road's
finances. and II was thrown into the
hands OF the receivers named. As soon
as the arrangements had been perfected
for the purchase OF the property by the
new owners this receivership was re-
moved and the lines will now be operated
by Mr.. Chester as the official head OF the
new corporation.
The capital stock OF the Falls Church
Company is 100000. about 60 per cent o!
which was owned by the Hinchmans
They also owned about S4l10C0 OF the
bonds Of the company. The remainder OF
the stock was owned by T. H. Phillips
Of this city. and the company also had a
floating debt OF about $4,000 The de-
tails OF the deal by which the new own
ers acquire control OF the property have
not been made public. except that they
have purchased the property. Whether
this means all the stock and good will OF
the oiu company, or On4y a control OF
It. Is not now known.
Mr. Chester Is man Of hrst-class
business ability. all the ventures with
which his name has been associated hav-
ing been successful. II may be assumed
that the management OF the property is
IN able hands. and that the corporation
will shortly work out 10 a remuneratlvt
| and substantial basis
The Falls Church lines pass through q
thickly settled and growing portion OF
! Virginia, the western terminus Of the line
being at Vienna. a few miles beyond
Falls Church. Much complaint has ex.
listed about the schedules and genera
management OF the system. but IN new
hands, with the restrictions placed upOI
the operation of trolley railroads in Vir-
ginia by the corporation commission OF
that state, II is predicted that the prop
erty viii now have new lease Of use
fulness and success.