The Washington times., 1915-07-01
HAMILTON DENIES
TRACTION MERGER
President Of Capital Traction
Company Pleased With
Showing For Half Year.

Further emphatic denial was today
given to the rumors of a contemplated
merger Of the street railway committee
Of Washington by George E. Hamilton.
president of the Capital Traction COM
pany.
In letter to stockholders of the
company Mr.. Hamilton, besides profess
sing to have no knowledge of any plan
looking to the consolidation Of his cor
poration with the Washington Railway
and Electric Company. comments on the
earnings of the company for the first
half year.
In the face Of the Inauguration Of lit
ney bus lines and the inreased use Of
automobiles. he finds this showing both
gratifying and encouraging. Mr.. Ham
ilton calls attention to the fact that
while the jitneys have the privileges OF
the burden of regulations rlaced upon
such carriers.
His letter is as follows:
For the first six months of the year
ings pail all operating expenses inciud-
ing fixed charges and taxes: maintained
its standard of good service; continued
its monthly additions to its depeciation
run: pail to It's stockholders for quar-
ters ending March 1 and July divi-
dends at the rate Of per cent per an
mum; and added substantially to its
surplus.
Under the existing conditions of
general business depression which al
ways materially lessons street railway
trairc. the increasing individual use Of
automobiles and the advent of the lit
ney bus lines. permitted to operate
coInpetltiVeiy on streets as common
lated as such. 1t is submitted that the
results shown for the half year ending
July are source OF qualification and
or announcement for the future.
Douhtless YOU have seen it stated in
the public press that a merger or con-
soildation OF the street railways of this
city was being considered by the rail-
ways and Public Utilities Commission.
ana douotless you have seen by their
published denials that the alleged par
ties In interest have no knowledge Of
any such purpose OF Of its considera-
lion.
1take this opportunity to reiterate
to the stockholders the statement made
by me through the press of June IS.
that the CAPITAL Traction Company, it's
officers and directors. have no knowl-
edee whatever of any such negotia-
tions.
Price levels on the Washington Stock
Exchange today were inclined to be
Irregular. While quotation figures on
several of the active bonds were low
n
OF the bank stocks advanced rather
sharply.
Capital Traction, the best bid on
which yesterday was 81, was advanced
to 50 without disodging any of the
stock. One Traction per cent bond
sold at 1854 the price that has pre-
vailed for several days. but, the bid
was raised from los to 1854.
The bid on Washington Railway and
Electro common stock dropped a half
point to SO. Federal Bank was bid up
three points to l39 N osales Of the
stock were recorded. however.
Potomac Electric Power Consolidated
5 per cent bonds declined fractionally,
$1,000 worth selling at l00h. The other
sales consisted Of a $500 Washington
Gas at l04h; ten shares Of Lanston
Monotype stock at CO. twenty shares Of
Lincoln National Bank stock at 160 and
ten shares of Merchants Transfer and
Storage stock at 105.
The Firemen's Insurance Company, OF
Washington and Georgetown, has de-
clared its regular semi-annual dividend
OF 3 per cent payable tomorrow.