Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-11
WASH. VA. RAIL WAY
MAY Be SOLD soon
FOR SCRAP VALUE"
Receivers Announce Decision
to Close Up Company's
Affairs at Once. \
ESTIMATED AT $3.50, 900,
ROAD MIGHT PROSPER
Communities Served BY Electric
Line Hope Purchaser Will Con-
tinue Service to D. c.

The entire holdings of the Wash
ington.V Virginia Railway system, oper
ating electric cars to Fairfax. Alex,
andria and Mount Vernon and buses
to Fairfax and Falls Church. may soon
be sold for their scrap valuation.
Receivers for the financially in.
volved railway company announced
yesterday their intention OF closing
up the affairs of the company at the
earliest possible moment and are said
to have made known their willingness
to consider sale of the system rolling
stock, car barns. buses and all--on the
basis OF their scrap value.
The disclosure was made by F.. w.
Woodcock, representing the receiver
ship, at meeting in Alexandria of a
special citizens committee formed to
seek continuance of the railways
operation. even though it should be
sold for scrap.
Valued ut $75O.OOO.
The scrap value Of the system, the
committee said 1t was advised. ap-
proximates 100000. The company,
long in financial difficuIties, is said to
have a bonded Indebtedness of about
IS .ODO. 900, which would be wiped out
by Termination Of the receivership.
The proposals or the receivers, as ex.
pressed through Mr.. Woodcock. were
made public last night by M. r,
Church, stockholder in the railway
company and chairman Of the citizens
committee which will strive to have
service continued.
81 a
told Mr.. WoOdock that one Of its
members has q client who is con.
sidering purchasing Of the company's
holdings and an effort will be made
at once to consummate deal that
will be satisfactory to both parties.
Members OF the committee, in ad.
dition to Mr.. Church, include G. w,
Fitch of Clarendon, secretary; George
Warfield, Carroll Pierce and G.. s,
Taylor Burke, Alexandria bankers; II,
Shield McCandlish, Fairfax; Joseph e.
Berry, Vienna, and Ashton G. Jones
Of Clarendon.
Bus Competition Blamed.
Preliminary intimation of the agree.
ment of the receivers to wind UP the
affairs Of the company was given q
week ago at a meeting in Alexandra
of interested parties, called at the
instance of Day and Zimmerman,
operating engineers, Of Philadelphia
who are advisers in the receiyership.
At that time Mr.. Woodcock is said
to have declared that the receiver.
ship inevitably must end shortly,
since the revenues had been badly
depleted by bus competition, and the
road was barely paying expenses.
A committee was then appointed to
confer on the matter, and attempt
to reach a solution as to the disposi.
tion that might he made OF the com.
pany's property. 1t was this com,
mittee that met again yesterday. with
Mr.. Woodcock again present. Formal
organization of the group for the pur.
poses outlined was effected.
Chairman Church announced after
the meeting that Mr.. Wodcock had
assured the committee that any pro
posal to purchase the road with a
view to continuing its operation
would be entertained by the receiv.
ers on basis of scrap" valuation Of
$750, 200, as estimated by road en-.
gineers
Road Might Show Profit.
The committee expressed the opin.
lUIl tHdI tnG puTCHhScr IA tttS SyStcAAl
on this basis could operate the road
at profit, and it will make every
effort to obtain an offer under these
conditions 1t is the conviction Of
the committee that discontinuance
of the railway service would be
calamitous for the communities de.
pending on the road for transports.
tion to Washington. and would result
in dangerous congestion Of the high
ways due to necessarily increased bus
traffic.
Chairman Church indicated that ii
such purchaser is obtained, the
committee may suggest elimination
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