The Washington times., 1916-04-24
ROADS IN
BIG TROLLEY MERGER
Negotiations Under Way to Con.
solidate All City and Inter.
urban Systems.
CONTINUED from First PageJ

ties Company In 1915, after deducting
the $4,000 interest on the notes from the
net annual income account OF s2z2.s!l.io,
was sii7.S7l.15. or approximately three
times the interest.
Representatives Of the Baltimore COM
pany. including Van Lear Black, who is
neavilv interested in various financial
enterprises In that city and owns valu-
rb'e coal properti"s In West wir-tnia !:
Mr.. Bishop. president OF the WashinS-
ton. Baltimore and Annapolis galway.
aud others have been In conference with
Representatives OF the Washington rail-
ways at frequent intervals In this city,
Baltimore. and New York during the
past three months endeavorlng to ar
rTAss ne fSE %sSnstos ths %s5seru utnlt., Company
was formed in 1911 as a holding COM
pany for securities OF the street rail-
ways. interurbnn and other properties
In and about Washington.
At tire time OF II, formation II was an
nounced that the purpose was to bring
about merger such as Is now proposed,
but owing to opposition on the part OF
local interests involved the plan fell
through.
Sine. then the Washington Utilities
Of certain lines running out Of Washing
ton into nearby Virginia territory.
1t has an authorized capitalization OF
S50.000,000 In common stock. OF which
p4.6S0 shares are outstanding with rHr
value cf 800. The issued stock netted the
ii ,b0o.0c0,
Assets Of Washington Company.
The one-year notes held by the Fidel.
itv Trust Company are secured by a
deposit OF 1850 shares OF the Washing.
inRton Railway and Electric Company
which, paying per cent dividends. has
a market value Of s2.t10.000.
Thu other assets of the Washington
Utilitiec Company are as follows:
$50 shares of the Braddock Light and
Power Company stock valued at $4,000
5000 shares OF the Washington and
Great Falls Railway and Power stock
having a nominal value.
5,76i shares Of the Washington Virgins
Railway common stock. $3.50
2,s2o shares OF the Washington-vir'
ginia Railway preferred stock. sl7s mo-
and Electric common. $1,000.
Total, $526,000.
Tn addition, according TO letter
writer b. Norman Grey. president OF
pany at the time the notes were sold,
the Washington Utilities had Sal 00(
in cash and ss0oco In billa payable
The company agreed as condition
Tor thp note Issue tnat u Wouu not
distribute more than 2 per cent on the
amount Of the outstanding stock dur.
ing the life OF the 'rotes and would
not distribute anv of the unpledsed as-
sets 20 the stockholders In the same
ptriod.
Personnel of Board.
The net annual earnings OF the Wash
fngtoin Utilities In 1914 amounted to
s222 .s7i.75. The directors are Clarence
F. NoIment, president OF the National
Bank OF Washington; Norman Grey
president OF the West Jersey Trust
Company. OF Camden. N. j.; Frederick
II. Treat, vice president of the Wayne
Titio and Trust COMPANY, Of Wayne
Pa; John r. wilkins. q director a
the National Bank and the American
Security and Trust Company or Wash
ington Gardner L Roothe. president oi
the First National Bank Of Alexandra
Va; Charles A: .Epelding, retirnc
CAPITALIST OF Washington: W. W. spaid
member Of the Washington banking
firm oj W. p. Tlibba s: Co.
Tho Fidelity Trust Compa1y OF Bal
timore IL regarded ns one - the mos
powerful financial institutions In the
South and has strcnr financial coiinec
tions In ether cit!cs. Including New
Work