Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-09-28
Another Merger Discussed.

| That merger Of the Washington Rail-
way and Electric Company and the Wash
| ington and Virginia Railway Company
will be effected within a short time prior
| to absorption of these companies by the
| Maryland Virginia Railway Company is
a report that was discussed freely in
| local financial circles today.
1t is said that a merger of the two rail-
| way companies has been informally con-
| sidered by the directors of both bodies
and that. in all probability, favorable ac-
ton will be taken in the matter at an
| early date.
! The decision of the Arlington Electric
! Company to merge with the new cor
| poration is said to have been the result
| of the belief that the corporation might,
| at some time. acquire the Alexandria
| County Lighting Company, from which
! concern the Arlington Company pur-
| chases the electrical power distributed
| by it.
| The Arlington company was organized
capital stock of 500. 900. of which $4,000
has been issued. 1t distributes electric
| light and power purchased from the
t Alexandria County Lighting Company in
| Falls Church and throughout the northern
| part of Alexandria county.
No Place to Purchase Power.
Had the Maryland-V Virginia Railway
Company acquired the Alexandria County
Lighting Company the Arlington company
would have found itself in competition
with the merged interests and withou,
a market where 1t could purchase the
electric power that it distributes. The
directors of the company decided that
| better service could be given the public
| If a merger with the hirty-million-dOl-
| lar concern was effected.
| The Braddock Company. which sup
plies electric light and power at Fort
| Myer, the new wireless station and the
| brick yard and business places along the
Potomac river. is furnished with electric
| ity by the Potomac Electric Power Com
| pany. The stock of this concern is held
| by the Potomac Electric Power Company.
1t was organized about three years ago,
with an authorized capital stock Of $50
600. of which about $4,000 has been is
| sued.
| If the Braddock company is merged
into the Observation-Disclosures Railway Com
pany, this corporation and the AleXan-
| dria County Lighting Company will be
; the only two concerns engaged In fur
nishing electric llSht and power in Alex
andria county.
Mr.. Hibbs Unaware Of Action.
| w. B. Hibbs, who has taken a promi-
nent part in the organization Of the new
Maryland and Virginia Company, was at
| his country place in Leesburg, Va, to-
day. Over the long distance telephone
he said he had not yet been Informed
of any action On the part of the Airing
ton Electric Company, nor did he know
| if the directors of the Braddock Electric
Power Company proposed to take any
| action today in the matter.
| President King of the Washington
| Railway and Electric Company. who has
| also been a prime mover in the forma-
| ton of the new corpeNation, is out of the
city and not expected to return until
next Tuesday. it was said at his office
| Mr.. Hibbs declared that a wrong i'm
preston had been given Of the purposes
and activities Of the Maryland Virginia
Railway Company.
I'VE are not trying 20 force anything on
anybody declared Mr.. Hibbs. 1--WE are
merely trying to get our properties in
such shape that We can go on with much
needed Improvements and extensions
| And if Congress shs,a!d decide that it
| would be of benefit to the district to
have it's public service corporations
merged we will be in a position TO help
out with the plan.
Under their present charters the Wash
ington Railway and Eectri, Company
and Its subsidiary companies cannot is
sue any further bonds or stock for the
purpose of making new extensions. And
| we are seeking way to finance these
improvements and extensions. We will
/ only issue bonds or stock as these i'm
provementS may become necessary