Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1855-05-23
The civ counoll Of Baltimore and the B /,
a b. Raiitoad- The Double Tack,

twill be seen ffoln The following proceedings
that strong movement has been made In The City
coaacll Of Baltimore sslinst tile use Of any pot'
lion d the Oily loan 10 tie D, & ., Railroad Jet
temaIalng with lie Register TOT any purpose ex'
cert the construction Of The double track.
Nj. Wight offered The following preamble and
resolution with the accompanying comparative
statistics relative 10 the report oil the city diteclots
in the baltimore and Ohio Railroad Company
Laid on The table for The present,
Whereay, the cilyOf Baltimore holds stock IN
The baltimore and Ohio Bailmad Company The
patyaiue whereof Us SS,6ss,200.
The city las also lUonel tlls said company So
000, 00U, taking seventh lien on tile enite piOp'
city or The company as security fOt the loan,
Tue city hSS also endorsed lie bonls OF The
Northwestern Virginia RailtUal 10 the amount Of
81 5000 0, and this toad is vitunlly a pail OF
branch Of the said Baltimore and Ohio RAILROAD.
And wheteas tue aLoye stock loan and liability
amOuntio lhs SUN Of $40, 0SS,20O, and constitute
an inteles! VI vest amount 10 the clly Of Bali.
lnorei and wietcas II appeals from lie recent Fc'
noII Of John Il, Harness aud the CITY difeclOts In
Tue SAID Iai!rOud thai celluia appropriations Of the
late city loan have been made by the company and
otbets are intended 10 u. made, which wefe not
contemplated at the time the loan was gtanled, y.
And whereas ths said proposed appropriations OF
Tie city loan yei remaining on hand, besides beag
In violation Of The well understood PnrPose Of HE
City Council Ia making the loan, ore eulitsly IN
necessary ami uncallei for, as will nppeat by a
CAREFUL analysis OF the liabilities and financial
condition Of The company, as tepofted to the CITY
Council by Joint committee on the 2lst OF No
yembeT, 1854, compared with the sold recent ie.
port Of John II. Barnes, chairmin, &cp which
presents lie condition Of the Liabilities and inal'
crS Of The cOUpdly on Tie frs! day OF ApiI, 1859,
The said comparative analysis OF the liabilities
Of The company, taken 10 connection with official
statements OF Tie revenues u the toad OH hand IN
November, 1858, and subsequently carried by The
Quotations Of The rood, GIVES The following result,
all shows that the ptUPOsel appropriation OF the
residue Of the city lOAD, ahd ils dytrEI0I tom the
building OF lie double tack is enliTey unnsets
saiy and Improper,
Il appears tie general liabilities Of The comrony
have been Increased since the 9lSt Of November,
1853, by the sum Of S2,221,360. tSes table a,
httelo appendrd.)
Second-lt appeats that the hoaling debt OF tho
company has lcen reduced s92S,G69. [See table
H. (rhe true reduction was El,l24,725. See to-
marks on table C.)
Thitd-lI appears that The bond OF moElssge
debt OF the company has incn sel since November,
1853, S3,36?,S50. (Sge table o.
POuull-lt Appeals that lnOney and It's equtYn'
lent 10 The net amount Of 49, 222, 500 has Lse le:
ceIvetl by tho company ftoln and ny MEANS Of the
said increase VI tile bond and mortgage liabilities
since November, 1853. II futtlet spneats itOnI
the atUts said report made 10 The CITY Council in
November 1858, that the sum Of S7l2,46S, part OF
the revenues rs the yeaf 1858, was then Oh hand;
and Il furheC appears from The annual report Ut
the ypat 1851, that the road made nel piUfl in
1858, over aud above expenses and interest OIL all
It's tlehis, amounting 10 s0ii,$7. II further az.
peafs that Tie company have derived dividends
ltUm ihu Washington lltanclI $4,000, anI The in'
come Of tie indla STEM luE tue siSlnoIhf ending in
Apni, must have been about SJ6U,CO0, lSge for
these amounts liable E.l THUS il appears that
since November 1853, lHe company have derived
aMd held revenues VI The EJad amounting " tie
SUN NJ S2,01i,6l0.
Thus It appeals that money has been paid into
the treasury Of the company since NUvembet,
1853, amounting TO Tie sum VI Sj,3C0,5i0.
PIllh-lt ApllraES that tile disbursements IN that
time Ot the Of the road have been 81, 1862 OSS,
which leaves balance Ii The lfeaSnTy unnCc0lnl.
I'll (ot Of 81 ,9i7,63O, (See laklr L aud fcmarks
thetelO upltnded)
anu WNttaS lit!t [eSuUSI NeIluEu W TUE Hgh
authorities Of reports VI committees appointed 10
make examination, aIlI tie authority Ol tue official
f$pois Of the President and Directors Of tlr CON.
pany, slow tie great imNOpnrly Of dHerlmg the
fesliue Of The city loan ftOm building lie double
tack.
BE- II resolved therefore by the Mayor and City
Council VI Baltimore, That the ditectorS OIL The
part VI the city, he instructed lOeAett tIrit mlmOsi
At liz In NpItI,nt hI INF
any potion Of lie city loan yrI TeIabinins with
tie Register, lOr any purpose OF any pEeltGt tx
cent foT construction Of tie double tack.
Resolved, further, That said directors be re.
questeL to stop the appropriation Of any money Iii
Selsd IfOn the city loan llatmay not iet Ge uclu'
ally expenet, and tesetvs the same OF as much
thereof as will insure the completion Uf lhe double
tack.
Resolved further, That such Direc'Ots he re.
QUrSled 10 atop the appropriation VI an! mOneyrIe
rived from tie city loan that may moi yet be Gctu.
ally eAptned. aud tesetye the Sons OF rs much
theteof os VIII lnsufe The completion Of tue double
tack.