The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-27
CONGRESS To ACT
ON GIANT MERGER
STREET RAILWAYS
Consolidation Here of Wash
ington-Alexandria Lines
Under Suspicion
SUIT ALREADY IN
DISTRICT COURT
Make Claim 1t Is Merely A
Project To Initiate Values
And Remove Control
From District

WASatNGIe \. Nc. 2s.-Tne
anti-iner1ef sHu which The district
anti-nerger suit which the District
government has brought against the
Nashington-Nirg. railway company
In the local courts In likely to be tried
III congress NJ welt as In the courts
The congressional trial will be in
form of a detailed investigation of
she merger proceedings with view
to getting at the bottom of the whole
ness, clearing away the mystery
that has surrounded 1t. and recon-
mending a proper proceeding for con-
gresR to take in conservation of the
public interest
Merge I'm Virginia.
The Washington-yirglni railway
company today was formally merged
into the new fifty million dollar Wash
lngten Utilities company, application
for the consolidation of the two con-
Germs being approved by the Viz
<inia. earparatian scaniptsston. In .sss-.
sion al Richmond. Va
This completes the first step In the
carrying out Of the holding company's
plans for absorbing public utilities I'm
the District of Columbia. Maryland
and Virginia
Announcement of the commissions
action WAS followed Announce Esieft
Of the list Of officers and directors who
VIII be at the head Of the mammoth
concern. The president In Frederick
H. Treat, of Wayne. Pa. formerly
president of the Washington-E.rg tnia
company Mr. Treat succeeds Nor
man Grey, Of Camden. y, j.. the lat
ter. however. being retained as vice.
president.
Three new directors. Clarence r.
Normerf, John r. wilkins and Charles
A. Spaltlng, all of Washington. are
announced w. w. Spaid, partner of
william II. ldibhs, one of the Wash
,ngion promoters OF the merger. Is
named as treasurer, while the secre-
tary liz Gardiner l. Boothe. OF Alex
andrss. All Of the officers are direc-
tors
Prem Washington tn Virginia Points.
The washin 1T { n Virginia railway
company operates electric lines be-
tween Washington. Mount Vernon.
Alexandra. Fairfax and other Viz
ginia points its stockholders only yes
ierdav voting in favor OF the merger
The plan previously had been APP
proved by the directors of both COM
panies
Immediately following the action Of
the stockholders. which was taken
within two hours after tho district
commissioners had filed suit to pre-
vent the acquiring Of any local utility
by the sffty- ulsllion-dcllar company.
Gard .ner l.. Roothe. one Of the dfrec-
tors of the company, left last night
for Richmond TO present The merger
application to the Virginia corpora
ton commission.
The Washington Virginia company
had outstanding sf.oeooae OF pre-
ferred stock. which had bern paying
A Af..g1 A. NH ssA Apv
its terms was to pay per cent dtvf-
dends after November l.. 1912. Also,
there had been outstanding sI.3Ts,3o0
OF ner cent common stock. paying
per cent dividends.
1T liz understood that the Washing
ton utilities company has purchased
and owned $4,000 of the preferred
stock and $595.loo of the common
stock OF the railway company. This
stock, under the merger. 1t Is an
nouneed. will he cancelled.
Exchange for Bonds and Stock.
owners of the remainder of the pre-
ferresi stock of the railway company
amounting to s75S, geo, will. It 10 an
neunced. receive for each ten shares
Of such stock $500 at par In the S
per cent bonds Of the Washington
utilities company. and $3.50 In stock
at par In the Washington Utilities
80 "a pa NY
The holders OF the common stock
Of the Washington,N Haaiway
COMPANY. amonnuns 10 s'sa..o".
VIII. u y stated, fecNeNe aor eaeh
ten shares oil suen STOCK saoo - par
IN the per cent nonas OF the ASH
ington utilities company ana sieo ~
stock 81 par. =,
be issued altogether sesas see Of the
STOCK o. 1ne ona 49, IN a.,s.
ccn'nany ana si,ooo.'"o IN per cent
bonds. -
s0ngres 20 InvestiRa.e.
the extent o. conkTssslunai conSeIn
about the merger ana 'nnat'on pIan y
vas made apparent touss. Wnen J.
was learned tnat on opening oAy OF