Evening star., 1938-10-14
100000 ASKED
IN RAILWAY SUITS

lin M|lWAI OUnO
Baltimore Bank Files Action
to Protect Bondho|ders
of Old Company.
The Washington Railway & Electric
Co. may have to put some $4,000 900
in District Court to satisfy the require
ments Of bondholders of two defunct
street railway concerns, If the Balti-
more National Bank Of Baltimore, Nd,
has its way.
The bank filed two suits in District
Court here late yesterday. naming the
Capital Transit Co. and the Washing
ton Railway Il Electric Co. as de-
PENDANTS. 1t requested that the latter
either be required to pay over the
100000 into the court or that the
court extend mortgage lien to cover
bus lines and other property acquired
by either defendant, in substitution for
property covered by the mortgage and
abandoned.
Through Attorney Charles B. Nc
1nnis Of the law firm of Roberts g.
Mc1nnis here, the Baltimore National
Bank told District Court that bonds of
the old Anacostia g. Potomac River
Railroad Co. of Washington, and those
OF the City & Suburban Railway Co.
of Washington are involved.
Acts as Substituted Trustee.
The bank advised the court that it
Is substituted trustee under an inden-
ture. dated April /, 1899, securing
mortgage bonds of the Anacostia g.
Potomac River Railroad Co.
District Court is asked to issue a
declaratory decree that the Washing
ton Railway g. Electric Co. and the
Capital Transit Co. are personally
bound by the covenants of the mort
gage and of the bonds for the payment
of the principal and interest of the
per cent bonds of the Anacostia e.
Potomac River Railroad Co., due in
1949, IN accordance with the terms of
the mortgage and bonds.
Further, it asks that the lien of the
mortgage be decreed by the court to
extend SO as to cover bus lines and
other property acquired by either de-
fendant, in substitution for property
covered by the mortgage and aban-
doned. 1t was explained that the old
tracks, in some cases, have been torn
up and bus lines substituted
$4,000, 900 Sought.
As an alternative. the bank asks
that the Washington Railway &, Elec-
trio Co. be decreed to pay into the
court 100000 with interest at 6 per
cent per annum from August 81, 1912,
to the date Of payment. In this event
the bank asked that the court appoint
a receiver to administer this property
{. and hold it for the protection and
security of the bonds of the Anacostia
| q Potomac River Railroad Co. that
are outstanding and unguaranteed.
Further, the bank asks that all ex-
penses incurred by the trustee in the
investigation of facts and the bringing
of these proceedings, including proper
compensation to it and its counsel, be
paid by the defendants. as successors
of the Anacostia & Potomac River
Railroad Co.. in accordance with the
obligations of the mortgage and deed
Of trust securing the bonds
In the second suit the Baltimore
National Bank asked that the two de-
PENDANTS be similarly held in the case
Of the per cent bonds OF the City
and Suburban Railway Co. of Wash
| ington. due in 1948 and asked a lien
here. As an alternative. it asked that
the court decree that the Washington
Railway & Electric Co. pay into the
court s1,75o,000 with interest at 6
per cent from November /, 1926.