The Washington times., 1913-02-05
ELECTRIC
POWER COMPANY TO
SUPPLY ANNAPOLIS
Deal With Washington, BaIti-
more and Annapolis Railroad
Expected to Close Today.

If deal that has been in course of
negotiation for six months and is being
threshed out to a conclusion by the exc
cutive committee Of the Washington,
Baltimore and Annapolis Electric Rail-
road Company in Baltimore today is
concluded, as expected, the Potomac
Electric Power Company of Washington
viii have another city as a customer
for its light and power current. The
deal contemplates the closing down of
the electric lignt plant of the Annapolis
| Gas and Electric Company and the sup
| ply OF electric current 10 the people OF
! the capital of Maryland by the Potomac
Electric Power Company, through the
medium of the lines of the Washington,
Baltimore and annapolis Electric Rail-
! road.
E. S. NARROW, general manager Of the
/ Potomac Electric Power Company, said
| today that the plan had been in con-
temptation for the past six months, and
! ii was learned from Baltimore that the
executive committee of the railroad
/ company, consisting Of George L. Bis
/ hop. president :, Frank II. CHM, vice
president and general counsel, both OF
Cleveland, Ohio; George A Craig. OF
Doyle, general manager, are now in ses-
sion considering the plan. -
/ The railroad company has had an op-
! ton upon the plant Of the Annapolis
cor Ipany since January e, and con-
1 templates taking over the stock Of the
| company at around o,OOO. and the as
| sumption of $4,000 outstanding and
\ G per cent bonds. The railroad COM
| pany has been purchasing the power
\ for its line TO baltimore and Annapolis
ever since the opening of the road. The
! plan is, If the option be exercised, to
| discontinue the small plant in Annap-
| OILS and establish a sub-station, for
the conversion Of the high voltage cur
| rent from the Potomac company for
! use by Annapolis consumers. This
| would amount to wholesaiing of elec-
tric current to the railroad company
,s ana nan retailing ,h cs0Isa aown c,,x
giving the Potomac company another
important customer. Since last fall the
company has been supplying current to
{ the lines Of the Virginia
Railway Company. that company dis
| continuing its power plant across the
| river.
Potomac Electric Consolidated SIS
J made a new high in the trading today
\ on the Washington Stock Exchange,
when 5000 of the bonds sold for 1o2.
There was little trading in the ses-
| sion. Washington Railway As were in
/ demand.
| According to a dispatch from Rich
mond this afternoon the stockholders OF
| the Richmond, Fredericksburg and Po-
| the agreement whereby the road is to
pay more than $3.50. 600 back taxes to the
State of Virginia and towns and coun-
| ties through which 1t runs.
| F. Baker Weaver was elected presi-
| dent of the Rosslyn Brick Company at
| the annual meeting Of directors follow
| ing the annual election yesterday.
other directors elected are: George w.
Wise. vice president and general mana
gen; George A. Weaver, treasurer; w.
| w. Barnes, secretary and Walter
| Weaver.
During January, 1,sl4 commercial fail
ures were reported to r. G. Dun and
| Company, with total liabilities of $22.-
Yz. .1s9 This compares with 1887 defaults
| for S19. T0,530 in the same month of the
previous year; ,663 IN 1911 for S24, ,090. 649;
| l,5I0 defaults in 1910 for Sc. .ol5. .75i, and
| I.4TI lnsolvencies in 1909. when the sum
| involved was sli.00s.0S5. In point OF
number the January exhibit Is very IA
vorable as compared with last year,
when there were SO more failures. The
number was larger than in 1911. 1910 and
| 1863 but fell much below the total in
Z 1903
In the following table comparison is
made of the number OF commercial fall
ures in the United States, covering
! three years bv leading classes Of trade.
! and the liabilities reported in each class
| for January this year