Evening star. [volume] (Washington, D.C.) 1854-1972, 1856-03-27
EVENING STAR.
THE CHESAPEAKE AND OHIO CANAL
GKoRaErowN, March 26. 1854

6EoRGErowN, March 26, 1856
Tho unproductive character of the stock Of
the Chesape axe and Ohio Canal, from the be-
ginning of its history down to the present
hour, has doubtless been matter of surprise
to hundreds and thousandsof persons in diff
ferent sections of our country, who had taken
the pains to inform themselves of the magni-
tude Of this work, and the character of the
country through which it passes Probably
no great public highway of the kind in
the Union has the advantages of a more
fertile region Of country from which to OBJ
tain its supplies of trade. in the way Of
-four, grain, &c, &c. And in addition to
all this, its western terminus is situated in the
midst Of the inexhaustible coal fields of the
Aleghanies, and its eastern terminus is sur
rounded by markets anxious for, and with
means and facilities amply sufficient to ac-
commodate FIVE hundred per cent more trade
OF the aforementioned character, than now
passes over it, and continually increasing
demand for coal for shipping and other pur.
poses. With all these advantages, one would
suppose that its stock would take rank among
the most safe and profitable in the land; that
1t would be eagerly sought after, and find a
ready sale In any market; but not so. The
very opposite is tho fact; for, notwithstand-
tion, and the great advantages it has for OBJ
tanning heavy trade, and thus become q
paying concern, we have yet to hear of the
man who has received the first red cent in the
way OF dividends upon what he may have in
vested In its construction. And why is it that
the canal yields no profit to the stock and
bond holders. We think it very evident TO
every rational man that the fault is not in
the canal, but rests wholly with those having
the management of it. 1t has capacities for
the accommodation of almost any reasonable
amount Of trade. 1t has the advantages of
as profitable markets as can be found in the
Union for both the products of the farmer,
and the black diamonds of the mountain, and
still 1t remains in a condition which renders
1t uoable to declare any dividends upon its
stock. meet the interest upon the money il has
borrowed, and many of its other obligations.
The fault, as we before remarked, does
not lie in the canal but with the managers
Scores Of persons are anxious to engage In tho
coal ard other trade upon it, but have hith-
erto been deferred from doing so BY the al
most certainty that continually stares them
In the face of sinking their money if they do
so, through the negligence or mismanagement
OF those entrusted with the general superin-
teEdence of the work The question then
arises, is there no way of renedying this cry
ing evil-this imposition upon those holding
the bonds and stock of the company We
think there is; and We believe that when
the people of Maryland and the bond and
stockholders once have their eyes opened to
the manner in which this great work is man.
aged, and are put in possession of some of the
reasons why it is not meeting the anticipa-
tions Of its projectors, they will raise about
the ears Of the Maryland State agents aud
the directors such clamor for reform, that
they will be compelled to adopt suitable and
proper regulations for its management, not
withstanding they may, in so doing, come in
contact with the interests of some place seek
ing politicians who have heretofore used il
almost entirely for the promotion of their own
political friends to the great injury of hun
dreds and thousands of honest persons who
have either invested their money in its con-
struction, in trade upon it, or in the lands and
coal and other mines along its line. More
anon. SPECTATOR.