The Washington times., 1919-05-02
EUATION OF
5 DESPERATE
fal Meeting of Board of Di-
ctors Is Slated for Next
lursday.
BILL PRICE.

b Railway and Electric Company
ksuming such acute form that a
y meeting Of the board Of direct,
as been called for next Thurs
1t which IT was predicted today
lellInformed stockholders these
may, probably will, happen:
DmpIete abandonment By the
lPahy OF the Georgetown and
SleytOyER line, running from
Ffy-fOurth and NJ streets,
getOwn, to Rockville, MD
y 90 the point Of Withdrawing
icars and shutting on electric
rent.
he same action ~ to the
shInEtOn InteFurban line. run
from Fifteenth and n streets
theast, to points In MryIand
"y Of BIadeRsburE.
lassinE Of the quarterly divi-
d On common stock.
discussion Of the abandonment
the City and Suburban line,
tetOfore q prOsPerOus feeder for
parent company, running from
eenth and C streets, this city,
Laurel. Nd.
Situation Is Acute.
situation with the company, It
Dday asserted on high authority,
rown so acute that the company
& wait much longer on the finan-
lelief II has hoped for from the
Utilities Commission. The
Ar meeting Of the directors
J have been held Nay IS, at
the proceeding heretofore was
Ter the payment Of the quarterly
Ind OF III per cent on common,
due June !.
Tar as tae preferred stock is con-
3, the quarterly dividend for
due June I, was authorized some
ago and the money to meet it
side,
/ last quarterly dividend on COM
tras paid ont Of the surplus fund,
j fsf been steadily dwindling.
B-inlI Appeal TO CommlssiOn.
S probabie that within a day or
9 officials OF the company will
oefore the Utilities Commission
Iesperateness Of the situation in
fort to obtain from the commits
prompt action on the pending
on for allowance OF further
lues. The company, as already
b. believes thar the best way to
B these revenues Is through the
ling OF two zone fares ia the Dis
the second fare embracing about
lr cent Of the population OF the
jet lying beyond a radius Of
hing like two and q quarter
from the center Of the city.
proposition Of the company is
fought TO the limit by suburban
ents, while a number Of urban
ents take the position that y
company must have further re7.
It should come from zone fares
rot through increase OF the pres
Lat far Of 8 cents.
COmmlssIon Fails to Ate.
} Utilities Commission has not
on the petition Of the Wash
a Railway and Electric Company
: to a number OF reasons. Fore
among there are:
'esire OF the commission to
lplete its valuation of the
perties Of this company so
{ Il may determine what rev.
'eS the company should have.
hatlon cannot well be com
ted inside Of thirty days.
Waiting on the experts Of the
lmission to pass upon the fig
8 submitted by the company |
to its earnings and expendi-
es, in the petition for revenues.
rk cannot be completed inside
three or four weeks.
'esire to obtain the decision OF
ge Ashley N. Gould, OF the
rene Court Of the District, in
appeal Of the Potomac Elec-
Light Company from the sc-
! OF the commission two years
in reducing the charge for
,tricity. Judge GouId's deci-
/ is expected any day. 1t may
e considerable bearing on the
tude Of the commission in
way rate matters, likewise in
Iation.
Cannot Continue To Wait.
, position OF the ruling authori-
Il railway companies is that the \
. are in such shape they can
Fait much longer for relief. III
can not obtain it through the
ltssion they will proceed TO cut
from the suburban roads, which
have ben operating at large
J, IL Is claimed. The three roads
oned-Georgetown and Tenley-
Washington Interurban railway
,ity and Suburban railway-are
art Of the W. r and z. CORPORA
They have always made sepa-
reports TO the Public Utilities
lission. The w. R and Z. mere
yns the majority OF the stock
.se roads.
sident Ham recently made most
7 statements as to the financial
on At least two Of these three
an roads. He showed where
GEORGETOWN and Tenleytown has
paid a dollar OF return TO it's
q and instead owes the W. r.
!. close 20 $500, 900 for advances
'ney. II is In worse condition ]