The Washington herald., 1912-10-25
~ 1. A. FLEMING.

BY i. A. FLEMING.
Directors of the Maryland-virginia
Railway Company met yesterday after
noon at the ONCE of E. B. Hibbs d
CO., and voted to make proposition
to the directors of the Warrington
virginia Railway Company for the sale
of the stock of the latter corporation
TO the former.
The directors of the Washington-Vir-
Rinia Company. many OF whom are om-
ciaIs and directors of the Maryland
virginia Company, will unQueetionabiy
recommend to the share holders In their
corporation the acceptance OF the
Maryland-virginia proposition. y
In due time. early IN the month OF
November, the shareholders OF the
Washington Virginia Company will un-
questionably vote to accept the propo-
sition made by the Observation-Disclosures
Company.
For these diverse and various matters
the machinery is Wen oiled and sure TO
work to a satisfactory conclusion with
mechanical and mathematical precision
The washington-V Virginia Railway
Company. has N,NS3oo common and
81, 100000 preferred stock. the former
pays and the latter 4 per cent.
A very large part OF the capital
stock Of the company now reposes IN
the treasury of the Maryland-Vfrginia
Company, having been purchased early
in 1911, over half Of the capitalization
when the plans were made for this alb
sorption and enlargement movement.
The, common stock was advanced up
at that time by the same kind Of force
full and effective boosting as developed
later on in the Washington Railway and
Electric shares and the buyer In botn
cases, back of the broker. was the same
Maryland Virginia Company.
The officers and directors Of the WASH
ington-virginia and the Maryland-Vir-
ginia Company are practically the same.
At Just what price the shares of the
common and preferred will be taken in
was not made public. but 1t is said to
be the plan to exchange, on an equit-
able and agreed upon basis OF per
cent collateral trust bonds for the 5
and per cent stocks.
1t is as good as settled that the share,
holders of the Washington-Virginia
company will accept this offer. although
there may be a few shareholders who
will object.
II desired. these stockholders. will be
able to keep their shares and to draw
down their regular distribution dollar
for dollar to asserting holders.
When the Virginia State commission
refused sanction to the acquisition by
Ine klTSlIlld COTlpduy VI tiic
two small electric light and power plants
it plainly indicated that it would be
matter of easy accomplishment to OBJ
tain their sanction had the Maryland
Virginia Company been an operating cor
portion
BY attaching the washington-Virginia
Railway Company ii will at once become
an operating corporation. and the bumps
in the path will have been eliminated.
Ia of fhA oChf r.
ginia probably will meet forthwith to
receive the proposition and to set a time
when the shareholders shall be asked
to express their views on the matter.
purely a matter Of form and ceremonies.
The following compose the directorate
Of the observation-disclosures company: Nor
man Grey. F. H. Treat. w. W. Spaid.
Gardner L. Boothe. NJ. E. Church. G.
NJ Lewis. and A. s. Carter.
The Washington Virginia Railway
directors are: Norman Grey. F. H. Treat.
Gardner L. Boothe F. Mertens, NJ. E.
Church. Clarence p. King, David A.
Howe, W. H. Lawton, and A. G. Clap
ham. .
Nearly unanimous in personnel and
voting power.
Having absorbed the three companies,
1t may be that the Maryland-Virginia
itself will be taken in, this time by
corporation to be formed to hold its
stock and to operate under its charter.
But it will have a name more indicative
of its aims and objects. more on appro-
pirate lines than the Maryland-Virginia
Company. which for months has been a
useful, nonindicative title.
No Comptroller of the Currency Of re-
cent years has been SO much in the
public eye during his term Of Office as
the incumbent, Hon. Lawrence o. MUIR
ray.
Mr.. Murray on taking hold of the work
of this branch of the Treasury Depart
ment seemed to think that there was
work to be done. tasks to be performed.
reforms to be installed, and that it was
his place and duty to inaugurate and
enforce these reforms.
The result is that the system Of ex-
animation of the national banks Of the
country Is to-day at its highest state of