Evening star., 1909-02-19
BOUGHT IN BY new SYNDICATE
W. & P. S. COMPANY PROPERTIES
SOLD AT AUCTION.
Five Steamboats,, Wharf Privileges
and River Freight Business Bring
$22. 22.OOO-Plans of Purchasers.

Five steamboats,. wharf privileges and
offices at this city and a long-established
passenger and freight business on the
Potomac river between this city and
Lower Machodoc creek. assets of the
Washington and Potomac Steamboat
Company. were sold yesterday at auc-
ton to w B. Emmert Of Bristol, Va.
The price paid is S21 600.
The purchaser represents the syndicat te
of Virginia and Washington capitalists
which had previously bought Colonial
Beach and River View, other properties
of the same company Ample capital to
nnance the business and put in on a firm
footing is controlled by the syndicate.
The sale was made under the terms of
deed of trust, the provisions of which
mad not been complide with. by the
American Security and Trust COMPANY
OF Washington. The property was sold
subject to maritime liens and other mort
cages that will bring the cost to the
purchaser up to between $4,000 and
StO.OOO.
The steamers sold were the side-wheel-
ers Queen Anne, Harry Randall Wake
field and T. v. Arrowsmith and the pro-
petier steamer Estelle Randall
A new company will be formed at once
10 operate the river lines, Mr.. Emmert
states The organization will be COM
pleted and ready to take hold of the
business by the time the courts confirm
the sale and he is formally put In pos
session of the property.
1t is the intention of the new owners of
the line to put the boats in thorough or
DER and to ref1t them so as to bring them
up 10 date in every particular. The line
VIII De operated by modern methods and
every effort will be made to develop the
river counties of Maryland and Virginia
and to bring them in closer touch with
the markets here.
"Ihe purchasers of the lines are practical
and experienced transportation men. who.
pefore they determined to invest in the
business. looked it over and mapped out
plans for increasing the business and
making it a paying one
Inc steamers Harry Randall and Queen
Anne % VII, leave here shortly for the ship
yards. When they are completed the
Wakefield and Estelle Randall will re-
celve their overhauling. By the time the
spring season opens on the river the boats
Will be ready to give efficient service
The excursion traffic and the steamboat
l1neS. which were operated by the WASH
lngton and Potomac Steamboat Company
as one business. have been divorced by the
new owners and Colonial Beach will be
operated by the Colonial Beach Company
with Z. n. st. John as general manager.
A new company will take the river bust
ness. which will be managed by Mr. En-
inert.
The sale Of the property yesterday after
noon. conducted by Z. q. Sloan 4 Co,
auctioneers. took place at the wharf of
the Washington and Potomac Company at
the foot Of Sth street southwest and was
attended by large thr,1g of spectators.
among whom were a number of steam
boat owners from this city and Baltimore
The bidding was tame and the property
was knocked down to Mr.. Emmert prac-
tically without opposition.
The property of the Washington and
Potomac Steamboat Company has been in
the hands Of r. II. Lynn. president of the
American National Bank, and the United
States Trust Company as receivers since
January "i of last year. The sale yes
terday disposes of the last of the prop
erty. The excursion resorts owned by the
company. Colonial Beach and River View
were sold at auction under deeds of trust
several weeks ago.