Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-08-08
PROVIDES A SUBWAY
Bill introduced Establishing
New Street Railway.
SURFACE LINE INCLUDED
Limit Fixed for Completing Work
Of Construction.
COMPANY MUST GIVE BOND
Route of Line to Extend From Union
Station, Along Pennsylvania Ave-
nue. and to Northwest Suburbs.

A great subway and surface street
railway system for Washington is pro-
vided for in a bill introduced in the
Senate today by Senator Johnston Of
Alabama.
The bill provides that the proposed
company which is to construct and op-
crate this street railway system shall
be called the Capital City Subway
Company, and the company is au-
thorized to construct and maintain a
street subway system and a surface
system. The incorporators Of the COM
pany, named in the bill. are to be Her.
bert F. L. Allen, Joseph A. Burkart,
Horace II. Lurton. jr.. Charles II. Rid
enour, Charles A. Brecons and Charles
L. Gulick. all OF Washington.
The subway part of the system Of
street railway, consisting of double
tracks, sidings. etc. is to have the fol-
lowing route: Starting at the Union sta
ton the subway will run southerly on
Delaware avenue to the Capitol grounds.
thence southwesterly through the Capitol
grounds to Pennsylvania avenue, thence
northwesterly on Pennsylvania avenue
to Treasury street, thence northerly to
Vermont avenue and Thomas Circle,
thence westerly and northerly around
the circle and northerly on 14th street
to Meridian street.
The Surface Line Proposed.
The surface part of the system is to
begin where the subway ends. 1t will
begin at Meridian street and proceed in
a northwesterly direction to 10th street
and thence in a northwesterly direction
to 18th street and along 18th street to
DAn,lr
Creek Park to Albermarle street and
Linnean avenue to 32d street. ana
northerly to the intersection Of keokuk
avenue and Nebraska avenue, thence
along 33d street to Western avenue.
The details of the construction OF the
system are to be submitted to the Dis
trict Commissioners for their approval
before any of the work is begun. and the
Commissioners are to retain certain
amount Of supervision over the construc-
ton at all times. 1t is provided that
the work of construction of the subway
is to begin within twelve months after the
organization of the company and to be
completed within four years. Work on
the surface part OF the system Is to begin
within five years, and completed within
three years thereafter. II this schedule
Of construction Is not maintained, the
rights of the company are to be forfeited
The bill provides that the fare Tor
travel on the system is not to exceed ,
for 25 cents.
Guarantee to Be Given.
The capital stock OF the company is to
be 2OO.OOO shares OF stock. each with an
equal earning value, but without nominal
par value. An effort Is made in this pro-
vision to prevent any watering of stock
or any allegation that the stock has been
watered The earnings of the company
are to be regulated upon the amount OF
money actually invested.
The company is to give bond to the Dis
trict Commissioners before the work OF
construction Is begun in the sum OF III
per cent of the estimated cost of the
work. The board of directors Of the com
pany are to meet and decide at what
figure the stock is to be sold originally.
Dividends Allowed.
The company is to be allowed to pay
10 per cent a year on the capital value
engaged in the company's affairs from
the beginning of its operations up to a
period of five years thereafter. Every
five years a report is to be made to the
interstate commerce commission. and that
body is to determine whether more than
10 per cent is being paid to stockholders.
If a surplus is created, one-half is to be
paid out to salaried employees of the COM
pany and one-half is to go to the credit
of the District Of Columbia.