Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-29
Amount of Capital Stock.


The capita! stock of the company is
S6,nOO,GD and there are outstanding at
the present time first mort gage issue of
S::,HN.HH bonds and second mortgage
| issue of SICUH.uD The stocks and bonds
are mostly owned in Cleveland and other
! cities in the west.
The first car was operated over the
/ Washington. Baltimore and Annapolis
| road from Washington to Annapolis Feb
rlary T. 1905. The next day Annapolis
awoke to the realization that it was en-
terinS upon a new era.
On March ~ the first came into
! this city from Odenton. and great crowds
greeted the opening of the new road.
Soon atterward party of city ofhcIais,
! including the mayor and city councilmen
! went to Washington over the road and
We're entertained there. Mr. Bishop said
at that time that the construction of the
road had cost about Sl1,OuO,0D. half
! hour service from early in the morning
till the late afternoon was established
between this city and Washington, and
trains were run at intervals to Annapo-
lis. The line grew in popularity and
many Travelled to the Capital city over it.
Some of the Results.
Real estate operations, i: is declared.
have been commenced all along the line
between the three cities and several
small prosperous villages have sprung
up. AS the demand increased the cars
were run more frequently between the
cities. Then the company desired TO
have it's terminal in the center of Wash
ington. and franchises were obtained and
the actual building of the road begun.
This has been nearly finished, and it viii
not be necessary to change ears outside
IF Washington. as was the case formerly.
The route from Baltimore to Washing
ton passes through territory much of
l-lt t/, lie vat q
was constructed with the idea of elnlinat-
ing grade crossings, and the line goes
either over or under all country roads and
railroad crossings. Thus a dangerous fac
tor is eliminated. The main line between
Baltimore and Washington is double
tracked with eighty-pound IT. rails.
The distance from Baltimore to Wash
ington is about forty miles, and from
the junction between the two cities the
distance to Annapolis is about fourteen
miles.
President Bishops Statement.
A statement was authorized last night
by President Bishop who was in this city.
1t is as follows:
THE receivership for tile Washington.
Baltimore and Annapolis Electric Rail
way Company was today decided by the
officers of the company to be necessary
for the protection Of the security hold
ers. upon it becoming apparent that all
of the reconstruction changes. made
necessary by the adoption of the direct
current power system and the requirement
Of new cars suitable for use in the streets
of Washington would not be completed SO
as to enable the company to operate its
cars in the city of Washington by No
! vember To- as had been expected and
relied upon by the company in making
plans to care for it's obligations.
at now seems probable that all of
these changes cannot be completed be-
fore February ID. 1910, owing to delays
which the officers of the company and
the several contractors doing the work
were unable to foresee. A considerable
portion of the cost of such changes have
necessarily been paid by the company
from it's current earnings, necessitating a
delay in the payment of pressin. ac-
counts which would otherwise have been
made fror' the earnings
1T has been believed up to this time.
and in our opinion such belief has been
justified. that the decreased operating eX-
penses and increased earnings which will
result from the changes would have fur
nished sufficient funds to provide for the
company's urgent and unusual require
mentS.