Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-09-07
ROCK CREEK RAILWAY co. -.><.--.s
HAS INTERESTING HISTORY
COMPANY Without Suitable Terminals
.y,Swings Big Corporation, Handicapped
by Utterly Inadequate Capital

rather surprised to be turned down
A so-called rider went on to bill
within a relatively short time provid-
ing that the street crossings. where
traffic was heavy. should be guarded
by policemen. who in turn should be
paid by the street railway corpora :
tons.
No connection between the refusal
and the rider is claimed, but
In the estimates of valuation these
crossing policemen. who must draw
something like $4,000 a year from
the street railway lines. were not
mentioned.
Disguised Noteholders' Committee
The noteholders' committee was
simply Disguised with the Washington
Railway and Electric valuation. On
that basis the chances for the common
stock reaching a level or receiving
dividends where these holders Of
ashington utilities. notes can hope
10 realize anything like the face value
OF their loans are nil. They had hoped
for much higher figures. a basis on
winch the resumption OF common
oiVldendS was assured. and therein
would be their chance to liQuidate the
collateral
For years the banks of this city have
mon stock, 1850 shares Of common
stock in the Washington Railway and
Electric. in varying amounts from $685.
600 to 100000. New York also helped
to lift the load.
statement of fact is not possible,
out statement of probability sug-
2ests that this big block of stock was
purchased during the big bull cam.
paiEn in 1913 just before the action
placing the shares on a per cent
basis. They were probably turned
over TO the Washington Utilities Com
pany. and the later in turn issued
IT'S notes for the loan that was not
payment of interest were accepted.
and then neither renewal nor interest
SO 1t goes
wednesday, September II. will be A
holiday as we'll az the rest of the CITY.
cent OF the District Bankers Associa-
holiday as we'll as the rest of the CITY
and with H. H. Mckee and r. n. Har
per as able helpers put the measure
through Congress-.
A Big Convention.
The annual convention of the ameri-
can Bankers Association in 1920 will
be held in Washington. r. n. Harper.
chairman of the committee on advtsi-
pity of extending an invitation to
message from the District BANKER
association in person at St Louis on
one OF the convention days the latter.
part OF this month. Mr.. Harper and a
number of local bankers will leave
mere on the 2Gth instant for st. Louis
ana the convention. !.
The cost Of entertaining the con-
vention Will be inconsiderable. while
the money the bank men and their
friends Will leave in Washington will
dollars. - 49, ''o"
Local men will plan the entertain
ment Of the bankers and their guests
on modest scale. for much Of the
time viii be taken up with business
but the natural advantages of this
CITY oner ample opportunities for
showing them around the city. The
daliy sessions of the convention will
De held. probably. in Continental Hall
All this depends on the Invitation
being exteneed by the association; at
its meeting on the ED instant, but that
is almost fore gone conclusion.
Washington Junior bankers and
some OF the seniors as well, are Won
dering why the controller Of the cSr.
rency is delaying. the call, past due
several days. ago. They speculate,
perhaps. that he will do the unex-
pected and put over only FIVE calls
this year. Others account for the
delay through the exigencies of hear
ings On his nomination to succeed
himself.
One assistant treasurer. who left on
vacation ten days ago, rejoiced that
he would escape the added work in
cident to responding to q call, but his
return on Monday will deceive him.
Local Securities
Much interest ia taken in the man
ner In which the local market viii
stand up next week. with the. full
knowledge OF the valuations Of the
street car properties. The nrst ses--
sion OF the exchange after the action
was given out showed indifference:
1t remains to be seen whether the
dissemination OF the Information will
develop any uneasthess
0rAphouhQnA camnana cnatiauA =.