Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-08-16
Sl4.4 Million Price Fixed
By WoIfson on Transit
Continued from First Page

q
Continued From First Pag,
son added. ''hut we want t.
follow the same policy we havs
followed In prior years as re.
CARDS operating expenses
II q deal materializes where.
by etc operates the system fol-
the District Commissioners. Mr.
Wolfson indicated that the
company win start lquidatint
while the buses and streetcars
are still running. # no deal goes
through involving outright pur.
chase Of the property by the
Burman group or other inter,
ests, Mr.. Wolfson said, some Of
the properties soon would b
offered for sale with q delivery
date Of IL months and one day
The effect of this kind Of {
futures" deal would be to leave
no substantial time lag between
the end Of operations and thu
Wind-up Of the company's affairs
"We may start advertising fol
the sale within three months.
Mr.. Wolfson said.
Commenting upon Mr..
Wolfson's statement that the
company is for sale at sl4.4
million. Commissioner Samuel
Spencer said in washington
today, ''It is an interesting
development. Ii seems to me
nls price = ratner nign ne
,,,.;ss ,.; ~ - : '1Ss
froncs-n,ng Axr wol,so,,.
stoter,s,,t tbet tha cornrs,,,
MIGHT over "a esI, ,ts ar,,;r.
nart fcr dsI;verv after *.
comnanv ooss c,,t ~ h,,s;naes
neYt A1,o,,st - Mr. snancs.
said .T'here l. M reaso,,
iegai,v rhv he cennot hsg;n
"a nnske his arrancenents he-
fore the end Of the one.year
period" -
(Mr. Spencer who. with his
Fellow commissioners. has been
attempting to negotiate q
strike settlement with the AL
Transit Workers Union, de-
clared. we feel our first duty
Is TO get the buses rolling and
w. commune our EFFORTS 70 40
~
Rise in Stock Forecast
Mr. wolfson askad ,,ou, ~ ~.
pected his price Of $l4.4 million
to effect the stock Of Capital
Transit-now selling at about
xl0--said it would probably
rise to about SIS. He explained
that stockholders probably would
be reluctant to sell for much
less If they were reasonably sure
Of getting SIS In liquidation.
However. Mr.. Wolfson warned
there would be no dividends
from here on out until the
hquidating dividend"
Asked If he had bought anv
Substantial amount Of CTC stock
In anticipation Of current events,
Mr.. Wolfson said he had not,
personally.
"But nv children have bought
several thousand shares" Mr.,
Wolfsnn ADDED His older child
Marcia isf7
~. a....,..,. -.
~,,a 80 .,,a. a1. -. sasIs, ~ t ~
e ~ ssp.ea :. s. ~. av ,..ts 10y -
M y.,a nSia 800. - .i 'sS's "
oA'oli s..
MARCIA =. Woiison trust-Juiy
J, Suu snares: Juiy ., 1Uo SHARES:
July ~. 100 snares: july ~,
!oo snares: Juiy ~. zuo snares'
august !, zoo SHARES.
Stephen Paul Wclfson trust
June 81, 100 shares; July !, 200
shares; July 5, 100 shares; July
~. 100 shares; July II. 100
shares: July 29, 500 shares;
August !. 100 shares.
Gary Warren Wolfson trust
June 2, 100 shares: July !, 200
shares; July S. 100 shares; July
~, 100 shares; July %, 100
shares: July 20, 300 shares;
August !, 100 shares.
Martin Daryl Wolfson trust
June II, 100 shares: July !, 200
shares; July 5, zoo shares; July
n, 100 shares; July ~, 100
shares; July ~. zoo shares:
August ], 100 snares.
II Is UNDERSTOOD that al the
snares were purchased az or
near $40. II tney are nquldated
ca;r - ssch t,,,s+ after taves
viii be slightly under $4,000.
Mr.. Wolfson said he had told
his brothers, who are closely as
ISOLATED in business with him,
that none OF the adult Wolfsons
should attempt to buy any more
etc stock.
I'm afraid we would be sub
ject to criticism" he explained.
Mr.. Wolfson reviewed the his
tory of his association with Cap
ital Transit. Asked why he had
come to Washington in the first
place, he said:
"T,ll ha franz with Won In