Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-04-18
. BALTIMORE AND OHIO RAILROAD.
Resignation of Mr. Swami and statcmcn.
OF thc Affairs of the Company.

AT resuiHr monthly meeting OF the Board OF
Directors of the Baltimore and Ohio Railroad, held
on Wednesday, the President Of the Company
Thomas SWAMI, Esq, presented the following COM
lEnication accompanying general Statement OF
the Treasurer:
Ge"ttemen;-As it has not beet habit of this
Company heretofore to present TO The stockholders
seini-annuaI report of their proceedings, L must
claim the privilege of SO fdr deviating from this
rule as 10 ask your indulgence in few remarks,
which the report of the Committee on Finance
and my past relations with the Company, would
seem to call for on the present occasion.
Ine total receipts from passengers, mails and
merchandise, for the six months ending the 31st
OF March, have been SSl4, 5S4.Sl. The expenses
OF the road during the same period 1854, 94O.O7.
l he interest Oh the capital invested TO the con
structIon OF the road west OF Cumberland, has been
Charged TO capitalize road not having been re-
ported as in a state for active business until the
opening of Broad Tree Tunnel on the list of Anil
The earnings of the Washington Branch have
been S2Ol, 1lS,19, and the net revenue, after de-
ductlng the States Bonus (Say 1872 S9l.55 for the
halt year, amounting TO Sll7,I2S,49. A dividend
of per cent. has teen declared on the Washington
Branch, aud surplus of S54, l28.49 carried TO the
accoant of the next half year.
The total expenses of the Branch have been
$50, S5S.75.
The aggregate receipts for the mont of March
from both roads, amounted 10 the large sum of
S21O,42O.39, more satisfactory result than has
ever been realized since the road went into oper-
alton.
cannot too strongly invite the attention OF the
Board 10 the Importance of urging upon the Legs
lature to make some relaxation i'll the heavy bonus
charged on passengers, which would enable the
Company 10 reduce tie fare or the Washington
Branch. am assured that every disposition exists
and has always existed in the Board 10 meet The,
public expectation in this particular. At present
the whole odium of the high rates charged upon
that road, falls upon the Company.
The road was opened 10 Wheeling, as the Board
are aware on the 10th of January last, under en-
1t tn rpfar
to in thus place. The chief en- -ineer announced
his readiness receive the trains on that day. and
the Board deemed it best TO make the attempt at
the earliest practicable moment. The primary OBJ
Ject which they had in view, to prepare for the
Spring trade, and it was evident that without some
elliott this could not he accomplished. a road re-
CURES TO be worked for few months before 1t can
lie brought into successful use; antrif the opening
hau bee delayed to the LIST OF April, and trains
permitted 10 pass over it, the same contingencies
: with which we have been contendng for two
months past, and which are now in the main sub
dued, woul1 Lave been still obStrncting our path
These obstacles, however, including tile broad
Free Tunnel, have not been greater if indeed as
great, as those of the Erie or Pennsylvania roads,
during the tir,t months of their operations. The
chief engineer estimated that five hundred tons pr
day could be passed over the Broad Tree Tunnel
from the period OF the opening; but tie General
Superintendent did not deem it eXpcdient 10 trans
port freight ut all, until some six weeks had
elapsed after the passenger trains had been run
through. Had the Board awaited the opening of
tween that point and Wheeling, the road would
lave been still unfinished
Great allowance is 10 be made for n new road,
traVerSIns such a country as that through which
this road passes. The permanent adjustment of the
track is a work of time An increased force is in.
dISpenSable 10 be kept constantly on hand to re-
move slips and clear the way for the daily passage
OF The trains Those who may be disposed to cast
cenSure upon the officers al the company for fail
ure tomeet the public expectation i'll all parIicu-
lalS, must recUlect that there is limit to human
powerin these matters.
The preparation Of the ground for the passenger
and tonnage operations OF tlI= road, between How
ard and Eutaw streets had been attended with con-
siderable expense. This, it is hoped, will cease
IN the course of the present month, it would not
be advisable for the company to do any thing to-
wards the new station on Camden street until the
receipts of the road justify further expenditure.
What has Been done already, could not well have
been-dlSpenSed with.
At the Wheeling Station some expenditure is al
so being incurred.
While these OUTLAWS have been LARGE no more ii
Us believed has been undertaken than was abSo-
luteiy indispensable Tor the convenience of the
road. The track in Cecil alley has been source
OF vexauous expenditure, owing TO the impractibe
spint evlnced bypersons binding said alley.
rhebed of Howard street, it early discovered,
would have failed 10 answer the purposes OF the
road from liability 10 ice and inundatoES and the
necessity for more than track TO meet the pres
ent wants OF the service.
Expenditures will have to be incurred, without
40ng the extended line of the road.
In the Annual Report of the Chief Engineer the
third revised estimate of the total of the road
was stated by him in detail at IS, O75, 287 Tn to
this time the expenditures chargable 10 construc-
stion, as reported by the Treasurer, have exceeded
this last amount by S239, 90. The final report
OF this officer mas been promised at early day
My habit has been, as the Annual Reports will
show, to invite the Chief Engineer to make his
own statements of matters which the Board
can exercise but partial control, and that only in
checking wasteful expenditure, which it is believ
ed are nowhere chargeabie upon the line of this
road. Additional cost may have been sometimes
incurred in giving to their bridge masonry and otr
er structures permanent and durable character;
but the experience o: the road east of Cumberland
shows HAT the policy which has been adopted is
one of true economy in the end No road IN this
country has been more securely Substantially
IuIlt.
D. The Irregularities which prevailed for some time
in the working departments of this road, owing TO
causes over which the President of this Company
could exercise no control, are now happily remov-
ed. and the trains are rnnning with regularity
which may be SAID 10 compare tavorably with any
former period IN the history of this work. A Sys-
TEN has been adopted FOL running the engines daily,
which will add greatly to the capacity OF the road
to accommodate The trade during the deficiency OF
power at present complained of.
Ii is much to be regretted tat the effect of the
late "strlke" has been TO suspend the contracts
heretofore made for the supply of the machinery
and cars for the increased demands Of the road on
the opening OF the tunnel. On the list of April the
deficiency OF power was severely felt, and this
must continue to be the case for time to come.
The Board found themselves in such a situation
that they could do nothing to protect the Company
against these unlocked for delays, and they were
compelled TO await ACKNOWLEDGEMENT of the work
m tie various shops having contracts to fill.
The pecuniary loss entalled upon The Company
by the effect of the late 'ts1ike'' has been more
serious than the Board might be Jed 10 believe.
But for this dividend OF at least 81 per cent.
might have been declared.
The machinery heretofore contacted for is now
, in a state of advancement. Large additions have