Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-02-15

| The complete text Of the street car
merger agreement. formally submitted
today to the Public Utilities Commls-
sion, with a petition signed py John H.
! Hanna. president of the Capita IraC.
| ton Co: William F. Ham, president
| of the Washington Railway x Electric
Co. and Harley p Wilson, principal
owner of the Washington Rapid Transit
| Co. urging its approval ana transn.lS-
sion to Congress for RATIFICATION, loi-
| lows:
Joint agreement of unification dated
as of the 10th day of February. l9z8'
bv and between the Washington Rail-
way &; Electric Co. hereinafter re-
ferred to as washington co.., the
Capital Traction Co. hereinafter re-
ferred to as the Capital Coz. acting
by their respective boards OF directors
and Harley p. Wilson. owner OF 2l,23I
shares of the stock of the Washington
Rapid Transit Co. hereinafter referred
to as the Bus Coz.
Whereas the Washington Co. and
the Capital Co. are organized IN ac-
Cortiance with special acts OF the Con-
gress of the United States for the pur-
/ pose of carrying on street railway ana
other business. and the Bus GO. Is
organized under the laws OF the State
ing on bus and other business, and.
Whereas the authorized capital
stock of the Capital Co. consists of
100. 900 shares of the par value OF $500
per share, all of which stock is now
issued and outstanding: and,
$4,000 Shares of Stock.
Whereas the authorized capital
stock of the Washington Co. consists
n e
the par value of $500 per share and
65 ,0OG shares of common stock OF the
par value of 500 per share. all OF
which authorized shares OF preferred
and common stock are now issued and
outstanding: and.
Whereas the authorized capital
stock Of the Bus Co, consists OF 10000
shares of capital stock of the par value
of $40 per share. Of which 81 6l2 shares
are now issued and outstanding: and.
Whereas the respective boards OF di-
rectors of the said corporations deem
it advisable for the purpose OF greater
efficiency and economy OF management
and for the benefit and advantage oil
the public and OF the stockholders OF
said companies that their transit prop
critics used in the business OF street
railway. motor bus and or other forms
of public transportation within the Dis
trict of Columbia or between the Dis
trict of Columbia and adjacent States,
and such other property and assets. real
and personal. tangible and Intangible.
as may be described in this agreement
shall be placed under unified owner
ship and operation;
Now therefore. III consideration OF
the premises. covenants. agreements
and grants herein contained, 1t Is
hereby agreed by and between the par
ties hereto that their respective prop
critics as hereinafter described shall! be
transferred to and vest in q new COM
pany and the parties hereto by these
presents agree to and prescribe the
following terms and conditions Of said
transfer. and the mode Of carrying the
same into effect
First The name of the New Co.
shall be Capital Transit Co, therein
after referred 10 as the New Coz.
Second. The New Co. shall be or
ganized under an act Of Congress OF
the United States with power to ac-
ouire, own and operate directly or
through subsidiaries. transit properties
within the District of Columbia and be-
tween the District and adjacent States,
including the power to acquire and
operate the properties OF whatsoever
description TO be conveyed to the New
Co. in accordance with this agreement,
and to acquire the stocks OF said COM
panies and the power TO mortgage It's
property, rights and franchises, and To
conduct such other activities as may
be useful or necessary In connection
with or incident TO the foregoing
purposes.
Is 20 Be on Board.
Third. The board Of directors o!
the New Co. shall consist Of Is persons