Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-09-29

The Observation-Disclosures Railway Com
panE, operating the Mount Vernon
and Falls Church lines. together with the
Washington Railway and Electric Conn
pany. will be merged in the Maryland
Virginia Railway Company, recently
chartered in Virginia. with a capitaliza-
ton of $30.OO0.OoO. IL articles of agree
ment now being prepared and which
shortly are to be submitted to the dires-
tors and stockholders OF the railway COM
pantes are approved. according to an.
nouncement made last night
Details Of the immediate plans OF tho
$50. 100000 corporation, contained in an
exclusive interview given to The Star by
one of its directors. reveal tho fact that
the, gigantic concern is now ready to be-
gin the process OF absorbing certain local
public utilities, as well as companies op-
Grating in Virginia. The merging of the
Washingtou- Virginia Railway Company
and the Washington Railway and Electric
Company, It Is stated, was one OF the
principal reasons for the formation OF the
new corporation.
Already two electric light companies
operating in Alexandria county. Va.
merger. and there Is probability OF
the two railway companies being alb
sorbed before Congress convenes.
Objects in View.
The immediate effect of the carrying
out OF the present plans. 1t is announced.
will be the furnishing Of free transfers
by the Washington Virginia Railway
Company to the lines Of the Wash.
ington Railway and Electric Company.
the supplying of electric light and power
in Vienna and Fairfax. Va. and a re-
duction in the cost OF current furnished
for motor purposes in Falls Church, Va.
The exclusive announcement in The
Star yesterday to the effect that the di-
rectors of the Arlington Electric Com
pany. which operates in Alexandria
county, had decided on a merger with
the Maryland-virginia Railway Company.
was followed by similar action, taken
yesterday afternoon. by the directors of
the Braddock Electric and Power COM
pany, which is engaged In business in
the same county.
These two companies are the first TO he
taken orcr by the new corporation. With
In two weeks the stockholders will bo
asked to ratify the action taken by the
directors. No opposition to the carrying
out of the scheme is anticipated
Publicity Of the methods agreed upon
for the absorption of the electric COM
panies resulted in the disclosure OF the
personnel Of tho officers and directors OF
y
man Grey Of Camden, y. J.. and Freder-
ick II. Treat Of Wayne, Pa. arc president
and vice president. respectively. The di-
rectors are W. ". Spaid of Washington.
Gardner l.. Boothe OF -alexandria. Va:
NJ. +. Church of Falls Church, Va; e..
Washington Lewis of Alexandria, Va.
and A. g. Carter Of Washington. Two oc
the directors, Mr.. Church and Mr.. Carter.
been connected with the undertaking.
Agreement in Contract Form. i,
The agreement for the merging OF tho
electric companies Is drawn up in usual
contract form and was approved by fha
directors of the Virginia Railway and
Electric Company at a meeting held Fri>
day. Under the terms OF the agreement.
holders Of stock in either company may
dispose Of the certificates at par value or
transfer one share OF stock for three
shares of common. worcestershire stock oe
the new corporation.
The Arlington Electric Company. with
an authorized maximum Capitalization oc
$1OOO has issued $4,000 OF this amount.
while the Braddock Electric and Power
Company. with a maximum capitalization
Of $4,000. las issued $4,000 Of tho
amount authorized
The Maryland Virginia Railway Com
pany. with a capitalization Of s30.000.000.
has issued s.. 500.O00 worth Of stock. Il
Is PROVIDED IN tnS merger agreement tDaC
in addition TO the $3.5O0WO worth OF
stock issued. not more than $50 shares
OF stock at the par value of 500 each
may be issued to take care OF the out
standing certificates OF the electric com.
panies.
In short, the corporation will dispose
Of but 31S5.OOO worth Of stock for the
purpose Of absorbing these companies.
the persons financially interested In the
minor concerns being given the option OF
disposing Of their stock at the par value
Of 500 per share. or -surTendering ii to
the corporation for three shares OF tho
stock of that concern.
The officers and directors OF the Arling-
ton Electric Company are NJ. e. Church.
president; Charles Rauscher, vice presi.
lent: l.. L. Northrup. secretary: Walters
r. Weaver, A. d. Torreyson, Thomas j.
De I.ashmut. George IL. Rucker, E.
Wiley Sterns and F. r. Weller.
Territory Covered.
This company supplies electric light ana
,ower in Falls Church and throughout the
lorthern part OF Alexandria county The
3raddork Electric and Power COMPANY
furnishes similar service at Fort Myer.
besides providing current for the new
wireless stations and the brick yards and
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