Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1833-06-15
her representatives., assembled last winter At

Annap0liS.
The appeal vas successful; and, aided BY the
timely and generous interference Of the deneral
Assembly OF Virginia, and the liberal donation,
by Congress, of q large sum OF money. as the
price Of the resumption Of prior grant OF Part
Of the public mall to the city OF Washington.
placed the credit Of that city. as well as that OF
the Canal Company, which had sutfered with II.
on elevated ground, 50 as to battle and suspend
all further proceedings threats against the vail
dity of the charter of the Company.
Instead Of an act to enforce its forfeiture, the
authority from whence this harsh injustice had
been threatened. modified in most essential par
ticulars, the terms Of compromise originality sub
mitted by the Baltimore and OHIO Railroad Com.
pany. and superadded other conditions, calculat-
ed greatly to diminish the injury app ehended, by
the undersigned, from the collateral progress Of
the two works above the Point Of Rocks
In addition to which, the power was granted
to the Railroad Company, to subscribe to the
stock Of the Canal two hundred and fifty thous.
and dollars, under the confident belief OF the
General Assembly, that such q subscription
would enter into the terms of any compromise
which might result from their act.
By the same act. the representatives OF Mary.
land gave their assent to one of much magnitude,
passed by Virginia. at the instance OF Pennsyl.
yania, and essential TO the preservation OF the
charter granted by this State, as well as to anoth-
er act Of Virginia. for the benefit OF the canal.
subectndeed, to certain restrictions to one OF its
grants, which time. it is believed, will hereafter
relax OF totally remove.
Whatever feeling might have been, at any
time, awakened by the indefatigable hostility OF
rival enterprise, the President and Directors
Of the Canal Company felt it TO be their duty to
their constituents, to avail themselves at the
short time which was allowed to meet the iiber.
al Intervention of the legislature of Maryland.
in the spirit which was known to have prompted
it; and understanding that lnsuperable objec.
tons would be made, BY the BaltimoreaHd Ohio
Railroad Company, TO any subscription, on their
part, to the stock of the canal, they consented 10
recommend to the stockholders, 10 general mee-
tine, the waiver Of demand for such subscrip
tiop; and to meet the Railroad Company, on
terms Of Cancellation, less Objectionable to them.
selves.
Those terms, along with the act Of the Gene
raj Assembly of Maryland, on which they were
founded, are hereto annexed. Having been al
ready communicated TO the Stockholders at an
extra meeting. made by them topic Of much
discussion. and approved BY their voice, they
are here referred to, in order 10 supply, what
might be otherwise deemed an OMISSION IN that
narrative, wch the annual reports are designed
to afford of the progress of the enterprise 'nlher
to eonfided to the direction Of the undersigned.
A comparison is due to the subject, il not to
the undersigned themselves, Of the terms OF com.
promise submitted, more than two years ago. BY
the Baltimore aud OHIO Railroad Company,
with those which have been ultimately adopted.
The decision of the undersigned upon the for.
mer, as well as their reasons for 1t, we're fully
disclosed in letter addressed to committee OF
the House of Delegates of Maryland, during the
winter ensuing their rejection by this Board.
Of the terms more recently offered BY the
Railroad Company, it will be recollecteJ that
they contained two alternative propositions; and
the undersigned having unanimously acceded
to one of them, could not be said to have rejected
the compromise which they proposed.
When the General Assembly Of Maryland,
BY a resolution Of their body, pressed on the
consideration Of the stockholders the other al.
tentative of the above proposal, the undersigned
most respectfully submitted the resolution, as
was requested. to the stockholders, without a
single suggestion, either to favor, or TO preju.
dice the adoption Of the proposition which it pre-.
scented.
In comparing the terms supplied by the act Of
Maryland, and the agreement Of the two com.
pan,es which Immediately preceded its aceep'
lance By both, with the terms OF compromise,
first presented to this Board By the President
and Directors of the Railroad Company, they
will be found to be distinguished, among other
by the following:
By the original terms proposed, the two works
were to proceed together to Cumberland, through
distance, not of ten twelve, but of lao miles;
in actual contact, not for Q lilo miles only, but
of az miles of that distance.
A period of several years, and more than two
hundred thousand dollars, we're expected to be
consumed in the mere survey, conjoint location,
aud estimate Of the cost Of the two works. at
their common expense; and to the most serious
injury of that, with had already expended a
large capital, that awaited the extension OF the
canal for return of any profit whatever.
A single year only is now required, and less
is necessary to fulfil all The terms OF the compro-
mise actually made. Instead Of division OF the
cost of the conjoint construction. survey, and
location Of the two works, the whole expense is