Evening star., 1955-11-30

= AA4o wac tAAIgA0gS4 W IA
and president designate Of the
commitments made yesterday to
the District Public Utilities Com
mission.
The disclosure came as the
commission settled down to
choose a private transit operator
in the next SO days before Con-
greSs convenes--including tenta-
tive selection Of one Of five appli-
cants, holding OF a formal public
hearing. final decision, issuance
Of a permit and drafting Of spe-
cial legislation.
Mr.. Holland said his group,
composed largely of Baltimore
investors, has q "cross-section" OF
representation "from Roanoke
to Aberdeen" Also, he said, IL
includes q dozen or more WASH
ington businessmen who will be
identified only If and when q
franchise is granted.
Incorporation Pledged
He said the group promised
the utilities commission to incor-
porate here within the iiext few
days. Probably, he said, it will
use the name "Washingtor
Transit, Inc"
However, MIR. Holland pointed
out, I'VE haven't, completed
drafting q charter yet"
Mr.. Holland said his group hao
promised the commission to buy
900 new 5l-passenger diesel en-
gine buses, which cost about
$22. 900 each.
In addition, he declared, the
company plans to "shop around
for 800 used buses, either Of the
81 or 81 passenger type.
Total investments, according
to Mr.. Holland, viii range from
$40 million to SIS million, "de-
pending on whether we rent OF
buy real estate. such as space for
bus shops, terminals and ONCE
space"
He said the company proposes
an all-bus operation as originally
requested BY the utilities CON-
mission in its call for applica-
tons.
Debenture Financing
Financing, Mr.. Holland said
win be through private subscrip-
ton and issuance of debenture
bonds. the precise type Of which
is yet to be decided by the groups
finance committee.
I'VE don't anticipate any trou-
bic in setting new buses" he
declared. Either Of the two
major bus companies can give
US up to 400 buses i month ID
given q small amount of lead
time. =
The other 500, he said, viii be
obtained by shopping around. 4
MIR. Holland said the group had
only one conferencenone re-
cently-witn representatives Of
Louis E. Wolfson, controlling
stockholder of Capital Transit
Co.
Mr.. Holland indicated no deal
had been made with Mr.. Wolfson
although the group would be
willing to buy buses from him,
"if he has any he wants to SELL
I'VE don't want all new buses, u
Mr.. Holland. said. because we
don't want them all wearing out
at one time"
ConfeFs With Others
Meanwhile, the utilities COM
mission conferred with other
applicants in what Chairman
George E. C. Hayes has called
q "last-ditch effort to persuade
private enterprise" to take over
the transit franchise.
Mr.. Hayes said the commission
had conferred Monday with Mr.
Holland and yesterday with Nor
ris Fox. president Of the B&F
Transportation, Inc, and would
meet today with Gregory Han
kin, former commission chair
man and counsel for the Metro
|politan Transit Cooperative. An
interview is scheduled tomorrow
with Max NJ. Kampelman, coun-
sci for q group OF identified
clients.
Expressing increased optimism
Mr.. Hayes said yesterday the
Holland group had answered all
questions asked by the commits
sion. He said Mr.. Fox had
drought in some additional in