Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-09-16
LOCAL COMPANY
TO BUY UTILITIES
Maryland Virginia Comp
any Organized Here
Plans Big Things.
S3O,OOO,OOO CAPITAL.
F. II: Treat, President and Gardner L..
Boothe, Secretary, to Purchase
Washington Corporations.
S3O,OOO,OOO CAPITAL L.

Under the name Of the Maryland
Virginia Company, with Offices il
Alexandria, company was organi
zed here two years ago.ahd a charte,
granted by the state Corporation Com
mission in Richmond. The papers il
connection with the new company were
drawn by Gardner L. Boothe, of Alex
andria and Mr.. Boothe was named a:
secretary of the company. F. H
Treat, president of the Washington.
Virginia Railway, was named as vice
president and other officers were Nor.
man Gray, of Canton, N. j., as pres.
ident and w. w. Spaid, of Washing.
ION, as treasurer.
1t was first thought that the com.
pany was organized in connection with
some of the activities of the Washing.
ton-Virginia railway and little atten.
tion was paid to it by the public, but
Saturday it was announced that it is
a $30,0O0,00O corporation which has
for it's object the scearing getting ac.
tual control of every public utility ir
the District of Columbia, especially
street railroads together with electric
lines to nearby points. This contem-
plates the management under one ex:
ecutive head of the street railways and
of gas and electric companies; the es-
tablishment of universal transfers
and the saving which would come
from the combining of several mana
ging departments into one.
The Virginia Company,
through its members and their friends,
is declared to have controlling inter-
est in the Washington Railway and
Electric Company and it's affiliated
companies; the Potomac Electric Pow
er Company and the Washington-Vir-
ginia Company, whose cars operate
into Virginia across the Highway
bridge. The consolidation of these CON-
panies, it is declared, could therefore
be accomplished at any time.
Ownership of stock in the Capital
Traction Company and the Washing
ton Gas Light Company by members
in the big corporation does not at
present amount to control of those
concerns, but it is claimed that actual
ownership and control of stock in
practically all other utilities puts the
new corporation in command. Five
million dollars worth of the new cor
poration's stock is already issued. 1t
also holds much stock in the present
utilities of the District, and has been
saving the dividends from that owner
ship to create surplus fund for en-
tensions.
The charter under which the Mary
land-Virginia Corporation exists is a
broad one, allowing the company to
buy, sell and own stocks, to control
and operate street railways, railroads
electric light companies, gaslight
companies land to own real estate; in
short, to have the widest possible
field for tie operation and control OF
a large system of utilities,
Par value of the stock in the corpo'
ration is S1OO. 1t is not listed, anc
no trading in the stock on any market
has been recorded, those interested
saw, as all the shares asked for have
not been allotted. 1t is planned te
exchange shares of the new stock tol
shares of the stocks of the existing
corporations to be taken into the new
fold, on valuation plan to be worked
out. A financial firm of Paris, France
has made an offer to underwrlte th'
Maryland-virginia Corporation, an'
to take up all shares from present ow
ners in lpcal railways and utilities
who may not want to enter the new
company on the exchange OF stocF
~,