Evening star., 1927-05-26
BALTIMORE FIRM
WILL BUY W, B. "a.
Consolidated Gas, Light and
Power Board Votes to Form
Holding Company.
sneeial Dispatch 70 The Star.

Special Dispatch 20 The Star.
BALTIMORE, May 26.-Directors of
the Consolidated Gas, Electric Light
& Power Co. of Baltimore at a special
meeting this morning voted to pur'
chase the majority Of the preferred
and common stock Of the Washington,
Baltimore & Annapolis Railroad Co.
The directors authorized the counsel
of the company to file with the State
Tax Commission certificate to in
corporate the Baltimore Corporation
of Maryland, with an authorized capi-
tai of 100 900 shares of common stock
without par value. The directors OF
the Baltimore Corporation of Mary
land will be Herbert +. Wagner,
Charles II. Cohn, Charles +. +. Clarke,
John L. Bailey and +. w Wood. all
members of the board OF directors OF
the consolidated company. Upon APP
,,royai by the Public, Service Commits
sion, the consolidated company will
purchase an issue of ABB shares OF
the Baltimore Corporation of Mary
land for SI.135,S25. A petition asking
for this approval will be filed with the
Public Service Commission today.
Will Hold Majority of Stock.
The Baltimore Corporation of Mary
Land will use the proceeds of the sale
of its common stock to the consoll-
dated company in payment for 32,4Z9
shares of common and 1S,14S shares
of preferred stock of the Washington.
Baltimore & Annapolis Electric Rail
road Co, giving this new subsidiary
of the consolidated company ma
jority ownership of the outstanding
stock of the Washington, Baltimore
& Annapolis Electric Railroad Co.
The Washington, Baltimore & An
napolis Railroad Co. operates an
interurban electric railroad system
between the Capital of the United
States, the capital of the State OF
MARYLAND and the city Of Baltimore.
1t was incorporated June 5, 1905, as
the Baltimore Terminal Co. and its
name changed to the present title on
March 81, 1911.
Operating revenues Of the Washing
ton, Baltimore & Annapolis, including
its subsidiaries, for the year ended
December 81, 1926, totaled $2,564,-
O4729. This revenue was derived from
railroad operations and from the sale
of gas and electricity in the territory
served by the railroad.
During the year 1926, the Washing
ton. Baltimore & Annapolis Electric
Railroad Co. and it's subsidiaries car
ried 3S71 500 revenue passengers.
sold 7,173,767 XVIII. of electricity and
73.6z0,662 cubic feet of gas.
The subsidiaries Of the Washington,
Baltimore and Annapolis Electric
Railroad Co. are the Annapolis and
Chesapeake Bay Power Co., Terminal
Real Estate Co. and Maryland De.
veiopment and Realty Co. OF Anne
Arundel County. By the control OF
these properties the consolidated will
gain control of all OF the electric sup
ply between Baltimore and the Dis
trict Of Columbia, from chesapeake
Bay to some distance west into How
ard County.
In reference to the future of these
properties Mr.. Wagner said: 'It is our
intention to promote the improvement
and extension of the services rendered
by the railroad itself and by its sub
sIdiaries.
Joining Power Supply.
'aThe ultimate consolidation of elec-
tric light and power supply and the
unification of extension and service
policies should be Of material benefit
to the districts now served by these
companies. No changes are contem-
plated I'm the personnel Of the present
management of the W., B. & A., and
the excellent service now being rem
dered by the road to great numbers
of the people living in Anne-Arundel
and Prince Georges Counties, viii be
continued, and, If possible, even Inn
proved"
While officials. of the consolidated
would not deny or affirm rumors OF
the contemplated sale OF the railroad,
IL is generally believed i'm financial
circles here that the road will be sold
either to the New York Central, the
Pennsylvania Railroad or to the
Southern railway system.