Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1852-01-21

the operation OF tne exlstIng attachments
laws. As soon a poor deblor's weekly
wages fall due, some watchful creditor is
there TO seize upon them. Thus, the honest
laborer, striving to lift his head above the
waves of despair, is periodically re-pIunged
into the mos. abject dependency. Per-
haps little time, and cheering word would
have enabled him to pay debts Of misior-
tune, but no chance is given him to recover
his equilibrium, before another blow dashes
him hopelessly to the earth. Modify the
attachmen, laws, without, if possible, enlarg-
ing the opportunities of fraud. Blu, modify
them, any how"
He speaks of the militia law as utterly
valueless, and presses on the Legislature
their entire remodellng. For the better
accomplishment Of this, he urges upon them
the necessity Of consulting the opinions Of
military men, who are competent to advise
upon the subject.
''The Public Works of the State are in a
aourIshing condition, by comparison with
former years, and find nothing in the events
Of the past vear, to shake my onfidence in
the future realization Of the prosperity pre-
dcted of them by my predecessors. The
last annual repor! of the Baltimore and Ohio
Railroad Company, shows ,ha. the board
has declared dividend, in stock, of z per
cent, Notwithstanding that the large sum Of
$53l ,2C9 had been added to the capitol
stock, in the preceding year. This divi-
dend is equal to l-3 per cent. upon the
original capital of $7,OOO,OOO, represented
by that part of the road which is completed
to Cumberland, and which alone contributed
| tbo IF Tho
on the main stem, for the last year, arc
shown to have been $653,3O3 SIS, being
SS9,9l2 81 less than those Of the year pre-
vious. This decrease is attributed TO causes
which are temporary in their nature. The
road is steadily progressing TO its western
terminus. The ratio of its productiveness
is not 10 be calculated by the measure of it's
extension, from point 10 point. II is upon
The banks of the Ohio alone that il can fnd
trade equal 10 its capabil.ies.''
''The S per cent. sterling bonds of M.ry-
land, loaned to this Company to the value
of 972o,0OO (S3,2OO,OOO,) have all been
negotiated; principally within the last two
years. The readiness with which large a
mounts of those bonds have been disposed
Of, very clearly indicates the stability Of tho
credit of the Sale The company has re-
Gently effected sales of $1,l2S,720 of its
coupon bonds. 1t would appear from these
negotiations and the estimates in the last an
nual report Of the Board, that no apprehen-
sion is entertained in regard to the financial
resources necessary for the prosecution Of
the work.
sThe Washington branch of the B,lti-
more and Ohio Railroad realized, during the
past year, $l62,S54 SO Of nett earnings
A semi-annna dividend Of 4 per cent. was
declared on the 3O!h of Sept. last. The re-
ceip,s into the Treasury, on account of divi-
dends from this road, for the past year, a.
mounted to $4,000. 1t yielded, also, in
that period, on account Of the tax upon
passengers, the sum Of $57,223 73, being an
increase of $4,70l 76 upon the receipts, from
The same source, in 1850, and $5,203 SO
more than was received in lS49. From the
general data, which have so briefly COM
munlcated to you, you can form your own
Ijudgmen. of the present condition and fu.
.ure prospects Of this great work.
''The Chesapeake and Ohio Canal was
opened for navigation, from The District of
Columbia 10 the town of Cumberland, on
the tenth day Of October, 1850. Thus, af-
% years of most Unprecedented difficulties
and misfortunes, which grew darker and
thicker as i, dragged its slow length along,
this s,upendous work has reached its des.i-
nation.
"In pursuance Of the &C, Of 1914, chapter
2Sl, this Company issued its bonds, 10 the
full amount llmi'ed, viz: Sl,7O0,O0O,) with
which alone, they closed CONTRACT, on the
25h of Sept. 1916, for the completion Of tho
canal TO Cumberland, upon a consideration
Of $l,625,OOO, tn be paid in those bonds, at
, par. Out Of This amount the con.rsc.ors
engaged to pay the sum Of 100000 in cash,
to the COMPANY, for the liquidation Of land
claims, and other incidental expenses."-
He continues on the subjec, Of this canal
until lie shows up completely its financial
con dilion and its future prospects.
, "There is another matter which has given
i, rise TO much speculation and contrariety Of
; views. On the 9Th of November last, the
Board Of President and Directors proposed
TO the Mining Companies of Allegsny coun-
,y, a reduction of three mills per ton per
mile, 'on condition Of a satisfactory guaranty
being given by said companies, for the trans
porta,ion of not less than three hundred
thousand tons Of coal OF coke, during The
year 1851, for the entire distance between
Cumberland and Georgetown.' They fur
ther offered to reduce the tolls to two mills
per ton per mile, for the year 1852, upon
similar agreement for the transportation Of
six hundred thousand tons. Al that time,
the rate of tolls was five mill per ton per mile,
for the first twenty miles, and four mills per
ton per mile, for each additional mile
} The companies failed to close the agree
ment, and these propositions were conse-
quen,ly abandoned, The toll was, on fur.