The End of The Line
The North American Company, a transit and utilities holding company began to acquire stock in Washington Railway in 1922, gaining a controlling interest by 1928. By December 31, 1933 it owned 50.016% of the voting stock. North American tried to purchase Capital Traction, but Capital Traction always remained widely owned by the residents of Washington, without a principle stock holder. North American never owned more than 2.5% of Capital Traction stock.
Nonetheless the Great Depression proved difficult for the transit companies and so to survive, on December 1, 1933 Washington Railway, Capital Traction, and Washington Rapid Transit merged to form the Capital Transit Company. Washington Railway continued as a holding company, owning 50% of Capital Transit and 100% of PEPCO, but Capital Traction was dissolved. For the first time street railways in Washington were under the management of one company.
Read more about this topic: Capital Traction Company
Famous quotes containing the words the end of, the end, the and/or line:
“Until the end of the Middle Ages, and in many cases afterwards too, in order to obtain initiation in a trade of any sort whatever—whether that of courtier, soldier, administrator, merchant or workman—a boy did not amass the knowledge necessary to ply that trade before entering it, but threw himself into it; he then acquired the necessary knowledge.”
—Philippe Ariés (20th century)
“This could be the day.
I could slip anchor and wander
to the end of the jetty
uncoil into the waters
a vessel of light moonglade
ride the freshets to sundown”
—Audre Lorde (1934–1992)
“The body was still resting on its legs, leaning against the end of the side of the bed, while one of the arms was close clasped round the bed-post. The mouth was rigidly closed, but the eyes were open as though staring at him.”
—Anthony Trollope (1815–1882)
“Every age has its temptations, its weaknesses, its dangers. Ours is in the line of the snobbish and the sordid.”
—Rutherford Birchard Hayes (1822–1893)