AN ACR FLC STOPS JUST OVER THE HOLD LINE FOR RWY 15 AFTER BEING CLRED TO CROSS WHEN THE FO SEES A CORPORATE ACFT ON SHORT FINAL APCH. ON ROLLOUT; THE CORPORATE'S WINGTIP CLRED THE ACR'S NOSE BY 100 FT.

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OUR ACFT HAD TAXIED TO RWY 18 RUN-UP PAD AWAITING FURTHER CLRNC DUE TO ENRTE WX DELAYS. AFTER SOME DELAY; DCA TWR INFORMED US WE HAD BEEN RELEASED AND TO CALL FOR TAXI WHEN READY. RWYS 18 AND 15 WERE IN USE AT THE TIME. WE CALLED FOR TAXI CLRNC AND WERE ADVISED THERE HAD BEEN A WIND SHIFT AND WE WERE NOW TO DEPART RWY 36. WE WERE THEN CLRED TO FOLLOW ANOTHER ACR'S B737 AND TWICE CLRED TO CROSS RWY 15 AND CONTINUE TO RWY 36 BY DCA TWR ON TWR FREQ. APCHING RWY 15 ON TXWY J; THE FO CLRED TO THE R AND OBSERVED A KING AIR 200 ON LNDG ROLLOUT JUST 1000-1500 FT TO OUR R. THE FO IMMEDIATELY SHOUTED 'STOP' AND WE BOTH APPLIED THE BRAKES STOPPING A FEW FEET SHORT OF RWY 15. AS WE WERE BRAKING TO A STOP; DCA TWR DID XMIT OUR CALL SIGN -- 'STOP!' THE KING AIR 200 PASSED SAFELY A FEW FEET OFF OUR NOSE BEFORE IT EXITED RWY 15. ALTHOUGH TWR FREQ WAS BUSY WITH XMISSIONS TO AND FROM TWR TO SEVERAL OTHER ACFT; AT NO TIME DID WE HEAR OR ACKNOWLEDGE ANY HOLD SHORT INSTRUCTIONS FROM DCA TWR NOR DID WE RECEIVE ANY ADVISORIES OF TFC LNDG ON RWY 15. I STRONGLY BELIEVE THAT THE FO'S INSTINCTIVE NATURE TO ALWAYS CLR BEFORE XING ANY RWY WHETHER ACTIVE OR INACTIVE; IN ADDITION TO HIS SITUATIONAL AWARENESS; AVERTED A RWY INCURSION AND IN ALL PROBABILITY AN ACFT COLLISION. I AM ALSO CONVINCED THERE WAS A BREAKDOWN IN COMS; AND MOST LIKELY INCOMPLETE OR INACCURATE INSTRUCTIONS ISSUED TO US BY DCA TWR. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: THIS RPTR SAID THAT HE HAS HAD SEVERAL CLOSE CALLS AT DCA IN THE PAST; AND HE WISHED THAT HE HAD RPTED THEM SINCE THE AIR TFC SIT SEEMS TO BE GETTING WORSE. IN THIS EVENT; HE WAS FLYING A B727-200 AND HAD BEEN CLRED RWY 15 WHEN THE FO TOLD HIM TO STOP AS HE CROSSED THE HOLD LINE AND THEY BOTH APPLIED THE BRAKES. THE B727 STOPPED A FEW FEET FROM THE RWY EDGE AND THE CORPORATE KING AIR'S WINGTIP MISSED THE NOSE BY ABOUT 100 FT. THERE WAS A NOTICEABLE QUIET ON THE RADIO AFTER THE EVENT SAID THE RPTR.