Evening star., 1928-03-15
CAPITAL TRACTION
VOTESFOR MERGER
Stockholders Register Ap'
prevail of Plan by Two
Thirds Majority.

StocSnclc~iS Of the CAPITAL Traction
Co. voting az special meeting today,
ratified the transit merger agreement by
q margin cf approximately 5000 votes
as III the case Of the WASHINGTON Rail-
way & Electric Co. stockholders, who
took similar action yesterday.
There Was this difference. however.
III that minority stockholders Of the
Capital Traction cast 755 votes against
The merger. 4 total of SS.04S votes was
cast il favor ot The agreement. a two-
thirds vote Of the 10000 outstanding
shares of stock being necessary for rat
iiIcation
Approximately SO stockholders attend
&c the meeting and heard the merger
plan presented by John H. Hanna. prcSi-
Ce1t Of the Capital Traction Co. No
reason was given for the small minority
vote against the merger, though this
vas 6ue undoubtedly 10 apprehension in
the minds ot some Of the individual
stockholders
Meanwhile the Public Utilities Conn
mission. which holds the fate Of the
merger III rs hands. was considering Il
at It's Sc1ai-wecSly meeting today.
To Discuss Plans Saturday,
Win a view 10 taking positive and
.lual action at the earliest possible
;;yse. the commission set aside Satur-
day as i tentative Gay on which 70
start It's considerations Of the merger
agreement.
While no member of the commission
would commit hinlSel! it was indicated
that the body would reopen the whole
question ot the S5000o000 valuation
base ana the : per cent guaranteed rate
O. return. the cruX of the agreement.
~ ~s,.- - r1t,- ~ sot
Chairman Chii6TesS explained III adding
that the heads Of the traction COM
pan;es would be called in by the COM
mission 10 SO over the whole plan be-
fore any decision IS made.
Cl1il6reSs declared he was going to
co everything possible - bring about
a merger now. We must strike while
the iron Is hot he said. ANY post
ponementS Of the merger for an indefi-
-ite period perhaps would leopardize
efforts 10 bring about the long-desired
unifcatloD Of the transit lines" he said.
which would indicate that the conf
mission i12s 10 intention Of holding any
public hearings"
When the commission starts its con-
si6eration o. the merger plan it will
be presented with comprehensive re-
routing plan prepared by ". Roland
Eibb!rS. transportation engineer for
Harley p Wilson. director OF the North
American Co. and owner Of the Wash
inEton Rapid Transit Co, which is in
cluded in the proposed merger.
Counsel 10 Submit Briefs.
Briefs involving legal questions also
will be submitted by counsel for the
traction companies and the Federation
OF Citizens Associations. These viii in
cI1de one by william McC. Clayton. at
iscking the legality Of stock ownership
held in the Washington Railway and
Electric Co By the North American Co.
Every effort Will be made By the COM
mission. i was indicated. 10 work out
speedily q plan which would be in har-
uony With the views OF the traction
companies and the demands Of the
public. and this. members Of the COM
mission believe would be brought about.
Il vas indicated that II would be disas-
f-ous &c let the merger plan cool down"
at the present time.
Il vas said that al least Two men,
beTs CT the commission are opposed to
tfe rate base as written IN the present
agreement, and this question undoubt-
e6ly will be the chief bone of corten-
tion throughout the deliberations.