Evening star., 1918-03-22
Co. TO AID
IN UNION OF SYSTEMS
BY I, A. FLEMING.

With the one insurmountable objec-
tion out Of the way. through the resig-
nation of Clarence p. King, as president
of the Washington Railway and Elec-
trio Company, the unification of the
street car systems of the capital IL =
possibility, perhaps a probability
With Mr.. King at the head OF the
Washington Railway and Electric Com
pany, a consolidation. even harmonf-
Gus working agreement or an under
standing in common was out OF the
question.
Capital Traction shareholders ana OF
ficials alike, rightly or wrongly put
on Mr.. Kings shoulders the blame 10Y
the aggressive campaign against the
stock of their corporation on the local
stock exchange which broke the price
of their stock from around 130 or bet
ter down in the I0s-
II was charged at the time that TINS
was the direct result OF an eHort 20
bring the value of the capital shares OIL
the two companies near enough
parity to permit of CONSOLIDATION
using the Washington Utilities Com
pany. organized in 1912; and piannedh hu. 1ut
consolidation of all utiiitles' as 'he
vehicle for unification-
The activities of this latter company,
wnfGh h30 Decn ciEGleO ~ a
able distance. were cut short by the La
Toilette anne ndment. which prevented
one local utility corporation holding
more than 90 per cent of the capital
stock of any other operating company
The very sentiment that today sug-
gests consolidation and its benefits de-
cried it at that time.
Clarence P. King is a practical raii-
road manager. although some OF his
own directors charge that he lacked
the diplomacy shown in his treatment
OF employees and the public displayed by
others in like lines of endeavor.
He succeeded Clarence F. Norment.
local capitalist, and brought with him
from Philadelphia certain capitalists
familiar with traction and interurban
matters.
"His retirement while regretted by
some of his associates on the board.
will make it easier for the directors of
the company to work out the salvation
of the property" said a director of the
company this morning
Washington is vitally interested in
the success of the Washington Rail-
traction and other utility companies.
from which it expects service. More
over. probably 100000 shares of the
capital stock of the Washington Rail-
road and Electric Company is owned
in Washington. a majority of stock
by large odds being owned by the
people and the banks and trust COM
panies of this city out of 80. 900 shares.
pany, largely Washington interests
also. hold much of the remainder of
the shares.
The directors of the company are
Washington men. bankers. capitalists
and business men. with few exceptions.
1t is understood that no successor
TO Mr.. King win be chosen at the pres
ent time. but that efforts will be made
to establish friendly relations between
the two street railway companies. and,
as many of the directors of each are
hand in glove in financial matters. it
would seem as if an understanding-A
working agreement. at least-might be
a matter of the not distant future.
No Further Postponement.
Eumors were current on the street
this morning of a further postponement
of the final date for fling income tax
schedules from April to May 1. This
has probably been suggested by the
fact that Treasury decisions have been
matters Of daily occurrences up to
within the last day or two.
Commissioner Roper this morning de-
clafed that there would be no further
postponement.
Boosting Liberty Loan.
Eugene E Thompson. secretary Of the
local liberty loan committee, spoke at
Sharon. Pa. today in the interest of the
third liberty loan. and will within the
next few days do what he can to
awaken the enthusiasm of the people of
Youngstown, Ohio; Chicago Oshkosh,
Minneapolis. Fort Dodge. Sioux City,
Council Bluffs and Omaha
Mr.. Thompson undertakes the trip at
the suggestion of and for the Treasury
Department.
Official Elected.
H. n. Fridley, jr.. has been made as
sistant cashier of the Dupont National
Bank. promotion from a teller's posi-
tion-
On the Stock Exchange.
On the local stock exchange TODAY
bonds furnished practically all of the
trading INDUCED in So far as could be
seen there was no particular change in
prices, but sentimentaIly, there was
probably a little better feeling among
local public utility shareholders
Potomac Consolidated 5s sold at "a u
the IS of the same company at 80, the
4s Of the Washington Railway and Elec-
tric Company at SO and Capital Traction
SIS at 100. touching par for the first
time in a protracted period.