Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-11-26
FIRST STEP IN BIG PLAN
Utilities Company Takes Over Wash
ington-Virginia Railway.
NEW OFFICERS AND DIRECTORS
Announcement of Plans of Holding
Corporation With Respect to
Railway Company Stock.

| The Washngton-V Virginia Railway
Company today was formally merged
into the new fifty -million-dollar Wash
ington Utilities Company application
| for the consolidation of the two con-
Germs being approved by the Virginia
corporation commission, in session at
Richmond. Va.
This completes the first step in the
carrying out of the holding company s
plans for absorbing public utilities in
the District of Columbia, Maryland and
Virginia.
Announcement of, the commission s
action was followed by announcement
of the list of officers and directors who
viii be at the head of the mammoth
concern. The president is Frederick
Fl Treat of Wayne. Pa. formerly presi-
dent of the Washingic Virginia COM
, pany Mr. Treat tedS Norman
Grey of Camden, \. j.. lie latter, how
ever being retained vice president.
Three new directors, Clarence +. Nor
ment. John +. Wilkins and Charles A.
Spalding, all of Washington. are an
nounced. w. w. Spaid, partner of Will
liam Il. Hibbs. one of the washington
promoters of the merger, is named as
treasurer. while the secretary is Gard
iner L. Boothe of Alexandria. All of the
OlllceIS di I'LL CStOiS'
From Washington to Virginia Points
The Washington-Virginia Railway Com
| pany operates electric lines betweer
Washington. Mount Vernon, Alexandria
Fairfax and other Virginia points. IT:
stockholders only yesterday voting II
favor of the merger. The plan previously
had been approved by the directors o
both compan.e .eS.
Immediately following the action or tn'
! stockholders which was taken wltnlr
two hours after the District COMMISSION
| ers had filed suit to prevent the acqllI
ing of any local utility by ine nity'
! million dollar company. Gardner
Boothe one of the directors OF the com
pany. left last night for Rchmond t'
present the merger applcatioh u LIN
| Virginia corporation comm Ssion-
The Washington Virginia Company mac
! outstanding sl.C00OO0 of preferred stock
which had been paying per cent o.Ni
! dends. and which, under its terms, Wa'
| to nav ) per cent dividends after No'em
| ber 1, 1912. Also, there mao peen ou.
| Standing 81 .37S, 800 of 3 per cent common
! stock. paving per cent dividends.
n is understood that the washington
| Utilities Company had purchased ant
| owned S242 600 of the preferred STOCK ant
way company. This stock. under tn'
! merger. it is announced, will be Cancelled
Exhcange for Bonds and Stock.
Owners of the remainder of the pre-
! ferred stock Of the railway company
amounting to $75S.00o. will. it is an
f, nounced. receive for each ten shares O.
such stock $500 at par in the per cen
bonds of the Washington Utilities Com
, pany, and $50 in stock at par IN th'
| Washington Utilities Company.
The holders of the common STOCK OF th'
Washington Virginia Railway Company
amount ng to $7S3,Oo. Will, IL Is sla'eu
receive for each ten shares of such stoci
$500 at par in the 5 per cent bonds OF th'
washington Utilities Company and SlJ
| in stock at par.
Under this arrangement there VIII ID
;ssued altogether s231,2 200 of the stock o
| the Washington Utilities Company ah'
| 81 600 600 in per cent bonds.