Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1909-12-09
MERGER OF 3 RAILWAYS.
The Frederick Railroad
COMPANY Organized.

The consolidation of the Frederick and
Middletown Railway Company, the w.,
! F. & G. Railway Company and the JEFF
ferson and Braddock Heights Railway
Company was effected at joint meeting
of stockholders held in Frederick Tues
day afternoon, when the three corpora
tons were merged into new company
known as the Frederick Railroad Com
pany. The consolidation was made by a
unanimous vote. Practically all the stock
of the Jefferson and Braddock Heights
Company and about two thirds of that of
the other two companies were represent
ed.
The new company was capitalized at
81, 500, 600, of which 81, $50, 900 is common
stock and $3.50, 600 is preferred. The par
value of the preferred stock is $50 share.
All the bonds of the old companies We're
retired and new bond issue to the a.
mount of $430, 900, covering the entire
property, was made.
On this basis the syndicate which took
the bonds of the Washington, Frederick
and Gettysburg Company will get out
without loss. The Jefferson and Brad
dock Heights Company has $4,000 in
bonds outstanding, which will be taken
at considerably below par. About one
third of these bonds, however, will be
retired in order to strengthen the secu-
rites.
New shares of stock will be exchanged
for shares of the old companies on ba-
sis of one new share for two old ones of
the Frederick and Middletown Company
and one new share for three old ones of
the Washington, Frederick and Gettys-
burg Company and Jefferson and Brad
dock Heights Company.
All the bonds of the new company are
valued at par, the plum being to make the
new bonds first class, with ample cash
equity behind them and with interest on
them assured from the present earnings
of the roads.
The mergers expecte to make strong
company, and those in CONTROL expect to
extend it's lines when conditions are ripe
for extensions.
Parties from Waynesboro, Pa, repre-
senting trolley interests, attended the
meeting and it is understood that they
are ready to cooperate with the new
company at any time in the way of ex-
tensions.
The consolidation is pleasing to bust
ness interests of Frederick city. 1t is
looked upon as step toward the consol-
idation of other lines into big trolley
system controlled by one corporation.
Today deeds for the purchase of about
SO parcels of land were filed for record
in the Clerk office, which will connect
the Frederick and Middletown road with
the Washington, Frederick and Gettys-
burg road from its terminal on E. Fourth
street with the Frederick and Middletown
road, intersecting the latter on <. Pat
rick street.
The new company organized by elect
ing these officers:
President Emory L. Coblentz.
e-President-Dr F. B. Smith.
Treasurer Thomas H. Halter.
Secretary-Chas. C. Waters.
Directors E. and Samuel l..
Clark, of Glenn Camel, Pa; VIM. Cooney,
of Baltimore; John w. Mccullough, of
Friendsville, Pa, w. S. Taylor, of Penn
sylvania; Emory L. Coblentz, Alexander
Remsburg, Abraham Hemp, Charles H.
Remsburg, James X. Waters, Charles C.
Waters, Thomas H. Halter, Thomas B.
Johnson, John C. Motter of L., Richard
P. Ross, George VIM. Smith, DR.. Frank
lin B. Smith and Oscar B. Coblentz.