Financiers take control of Capital Transit: 1949

A group of financiers completed the purchase of Capital Transit Company and five came to Washington, D.C. to look over their new holdings.

From left to right: Jack Surasky, E. B. Gerber, Cecil Wolfson, Louis Wolfson (chief invester), J. A. B. Broadwater at the Metropolitan Club at 17th & H Streets NW September 27, 1949.

They were quickly faced with a 1951 strike by the transit union.

The group would liquidate nearly all the companies reserves over the next few years, paying dividends to themselves and then claiming that they needed fare hikes to finance the running the transit system. They were forced out as part of a settlement of a 1955 transit strike.

For more information and related images, see www.flickr.com/gp/washington_area_spark/50446b

Photo by Randy Routt. Image courtesy of the D.C. Public Library Washington Star Collection © Washington Pot.

Taken on: September 27, 1949

Tags:

Capital

Transit

Washington

1949

new

owners

Jack

Surasky

Gerber

Cecil

Wolfson

Louis

Broadwater

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Sets appears in: • Transit Strike: 1951

Camera: Nikon D5100, f/5.6, 1/60 sec, 50mm (=75mm), ISO 360 (more info) (hide info)

Camera:	Nikon D5100
Lens:	18.0-55.0 mm f/3.5-5.6
Aperture:	f/5.6
Exposure Time:	0.017 sec (1/60)
Focal Length:	50mm (35mm equivalent: 75mm)
ISO:	360
Exposure Bias:	0 EV
Flash:	Auto, Did not fire
Exposure Program:	Not Defined
Exposure Mode:	Auto
Metering Mode:	Multi-segment
White Balance:	Auto
Color Space:	sRGB
Software:	Adobe Photoshop Elements 11.0 Macintosh
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