ACR X HAD LTSS FROM ACR Y ON FINAL APCH. MADE GAR. ACR Y STILL ON RWY. SYS ERROR.

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ACR X ON A VISUAL CIRCLING APCH TO RWY 33R AT BWI. WE WERE TOLD TO KEEP UP OUR SPD BECAUSE OF COMPANY TFC CLOSING BEHIND US. I WAS FLYING AT 190 KTS; STARTED THE SLIGHT L TURN FOR A LITTLE SPACE TO SLOW WHEN WE WERE ASKED BY TWR IF WE SEE COMPANY ACR Y IN FRONT OF US. WE WERE SURPRISED TO SEE ACR Y ABOUT A MI IN FRONT AND ABOUT 100 FT BELOW. I IMMEDIATELY SLOWED TO FINAL APCH SPD; DROPPED GEAR AND FLAPS AND SLOWED TO 90 KTS (MANEUVERING SPD FOR WT) AND PERFORMED A FEW 'S' TURNS. TWR ASKED IF WE HAD THE TFC Y IN SIGHT AND WE ADVISED WE DID AND WOULD FOLLOW TO RWY 33R. AFTER THE TFC HAD LANDED; IT TOOK A LITTLE LONGER TO CLR THE RWY. WE WERE ABOUT 1/2 MI FINAL AND ACR Y STILL DIDN'T CLR THE RWY. TWR ISSUED A LNDG CLRNC; BUT BY THAT TIME I HAD ALREADY STARTED A GAR. THE TWR THEN TOLD US WINDS WERE VERY LIGHT AND; IF WE WANTED; WE COULD CIRCLE AND LAND ON RWY 15R; WHICH WE DID. AS WE WERE DOING THAT TWR THEN HAD TO HAVE AN LTT CIRCLE AND LAND ON RWY 28; TWR THEN ISSUED A HOLD SHORT FOR RWY 28; WHICH WE COULD NOT ANSWER AT THE TIME. BUT WE DID HOLD SHORT ANYWAY.