Evening star., 1926-02-05
RA|LWA MERGER
IS ISPR0CRESS|NC
Spokesman Declares Nego-
tIatIons Are in Satisfac-
tory State.
BY CHAS. y. SH3EFFER

NsSotlatlons leading TO merger
vi inc Washington Railway and EIec
nc % with the Capital Traction
liiies are progressing satisfactorily. u
SPOKESMAN for the first-named carrie
heclafed 1fed this morning. The speaker.
however, refused TO amplify his terso
remark
Mhlle all conferences anent this
subject must. of necessity. he shroud
ed in deepest secrecy. il is ,1n,lerston,J
from a reliable source that not ONLY
nave the various phases of the sill
nation leading 10 merger heen dis
cusSed, but that definite offer has
heen made by the North American
90. for jority shares Of the Capi.
tai raction Co. The North American
co. already owns ma ior common
stock of the railway company. n
substantial amount Of the preferred
and the entire Rapid Transit or Six.
fHenth Street bus system
An official of The Capital Traction
Go. al a public hearing 4 few DAYS
ago voiced the opinion that a def
nite program for amalgamation
would be reached inside of so davs
Local financierS close to the situation.
but not interested financially, believe
plans will assume def1niteness much
sooner
Stock Move Significant
Action of Capital TRACTION stock on
the Washington Stock Exchange
would subStantiate this belief as II
IS showing a gradual rising tendency
despite the fact it failed by CON
siderable sum TO earn its dividend
requirements during the last II
months
The belief prevails locally that
VIII not be a bona fide voluntary
action on the part OF the two com
panleS. but the inevitabl result Of
forces applied by the North American
Go. of New York This COMPANY.
specializing in utilities. is felt to he
big enough and strong enough. with
the foremost transportatio experts
OF the country on its pay roll to bring
out the ma Nimum in possibilities Of
1ered by NaShingtOn'S TRANSFORMATION
problems. Observers point to this
c"mpany's present investment of
more than $4,000. 600 here as annie
proof their entry into the local field
was dictated by motives other than
altruistlc or that they will content
themselves with the role of lcqui-
escent director
Bond Series Called.
The Cities Service Co has called as
of March 100000 of it's convertible
series 3 bonds and $4,000 900 Of it's
convertible series c bonds. This elimi-
mates all but a nominal amount of the
\. s and c convertible debentures. Of
which the total original issue wqs
S35. 900 900
b. & o. Asks Bond Rights.
Authority TO issue and sell $50 900
200 in per cent bonds was asked Of
the Interstate Commerce Commission
today by the Baltimore and Ohio Rail
road Co.
The carrier proposes 10 repay $1,000
900 which it owes to the Government
on account of wartime railroad CON
troll with the proceeds. and also s6 900
600 owing in the form of short-time
loans. The balance will go for the
purchase Of new equipment and reinl-
burse the Treasury for expenditures
Bank Adds Director
Milton Hopfenmaier. local hide mer-
chant. has been added To the hoard Of
the Merchants Bank and Trust Co. il
was announced 1T the bank this morn
ing. The new members is an addition
rather than q replacement. il was said.
Peter 4. Drury. president OF the in
Htution. left the city last night on
sfE-Neek vacation. which will be spent
in Florida. Arizona and California.
Suter Joins Hartman & Co.
Jesse l.. Suter has been named as-
sociate manager of the local brokeraC sc
house Of Hartman & Co.. it is an
nounced He was appointed to this
capacity on February !, the selection
being given official o. *. by COVER
nors of the New York Stock Exchange
this morning.
Mr.. Suter is prominent in business
circles here. being an ex-member of
the Fourth Estate and more recently
local representative of the National
Letter Posting Association.
J.. W. Todd is manager of the local
office. with FranCk Hyatt and Chester
w. Lockwood as assistant managers
G. Bowie Chapman is resident partner
of the Washington branch.
Trading on Local Board
Capital Traction and Washington
Gas dominated trade on the Wash
ington Stock Exchange TODAY. the
former selling to the extent of I4n
shares at 1o61. and fractionally up
ward, while the latter eased off to %
on sales of 159 shares.
Lanston Monotype was in good de-
mand at S414. but Railway preferred
sold easier al 81. Five shares of Union
Trust Co. brought 23S. an advance of
several points over the previous trans
action.