The Washington herald., 1922-03-05
SELDEN ACQUIRES
OWNERSHIP OF Dc.
SHORT RAIL Line
Washington & Maryland
Ry. Interest Purchased
For About $13O,000.
OTHER LOCAL NOTES
Washington Rapid Transit
Earns s977.72 During Ban
ner Period Last Month.

Charles Selden. jr.. well known
local attorney. and president of the
Black Top Coal Company of Somer-
set, Pa. has purchased the entire in
debtedness OF the Washington and
Maryland Railway Company. as of
March 1. 1t became known yester-
day. This purchase. which was
consummated for a consideration
approximately of S130,O00. makes
Mr.. Selden the individual owner OF
this tract that operates from Four
teenth and Kennedy streets to the
sanitarium in Takoma Park Prior
to this Mr.. Selden enjoyed a 40 per
cent control.
The Washington and Maryland
Railway Company has been func-
tioning since 1906. 1t was formerly
the Baltimore and Washington
Transit Company, but upon fore
closure proceedings some years
years ago. the stock was bought in
and operated by the Washington
and Maryland Railway Company. A
ten-ycar lease executed in 1918. Is
held by the Capital Traction Com
pany.
tory of the road yesterday. called
attention to the fact that when the
line was first organized that vi
ctnity was still in the minor stages
of upbuilding, evidence of which is
contained in the yearly report OF
even as late as 1914 which shows a
total of only 300,O passengers car
ried during the period. Since that
time, the community has taken its
place as a residential section, a to-
tai of more than 100000 being
carried during the year just past.
Praises People.
Particularly pleasing to Mr. Sell
den has been the attitude of the
people along the line who have
shared its benefits. He states that
never, since its inception. have
they issued a murmur when facfli-
ties were impaired, and this reason
alone justifies the strenuous efforts
that will be made to maintain the
unselfish service heretofore given.
"Self-ownership of real estate or
other properties does not prompt
this determination" he concluded.
Rapid Transit Earnings.
The Washington Rapid Transit
Company was operated at a net
corporate income of s977.72 during
the month of February, according
to reports reaching the Public Util-
tiles Commission yesterday. This
amount, which compares with
S742-31 for the previous month, is
greater than for any month since
the company began operating last
spring.
The total operating revenue for
IA
with expenses amounting to S13,-
556.67. Total incorporating reve-
nues amounted to S1,165.52. De-
ductions included $167.07 on fundeo
debt and SCOTS miscellaneous.
The company, which maintained a
service Of fifteen buses the entire
month. and eight additional buses
the last ten days, carried a total
OF 1929 passengers
Columbia Graphophone Co.
To date 81 per cent OF five-year 8
per cent. Columbia Graphophone
Manufacturing Company notes have
been deposited with the committee
recently formed to protect the in
terests Of the stockholders.
Notes so far deposited under the
agreement represent more than 1000
holders widely scattered through
out the country. which indicates
how thoroughly these securities
were distributed. In addition to
deposits. holders of a substantial
amount of these notes have pledged
deposit as soon as the matter can
be taken up.
1t was recently announced that
the time of deposit of the notes
would be extended to March 10.
1922. Deposit agreement provides
that expense that may be charged
against any depositor will not ex-
ceed per cent. of the principal
amount Of his notes.
stock Exchange banquet.
Committees are diligently al WORK
on the annual dinner to be given
by the Washington Stock Exchange.
the exact date to be announced
later, and according to those in
charge of arrangements the 1922
banquet will surpass any like en-.
tertainment ever attempted by the
exchange in the Ilst. President
Harding and a long list OF digni-
taTicS will il is expected, attend