Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1858-02-19
correspondence Of the Baltimore sun
The Chesapeake and Ohio Canal in
the Legislature.

ANNAPOLIS, req, 10, 1905.
The most important measure intro
duced in the Legislature since my last
letter is that relating to the Chesapeake
and Ohio Canal, in respect to which there
are various propositions pending which
1t may be necessary to explain. The af-
fairs tthis company seem to have reach
cd crisis when something decisive must
be done The bill in the Senate has a
limited object. 1t is intended to furnish
the means to put the canal in good order
and to secure to the laborers and capt.
talists whose labors and exertions extend
ed the canal to Cumberland the payment
Of their debts against the canal, so far
as the property of the company can effect
that object
1t is not supposed that this measure,
which appears equitable, will be contest
ed to any extent In the House of Del
sgatcs MIR. Xii bur has organized CON-
mittee, consisting of one member from
each county and the city of Baltimore,
upon leave asked by him, on measure
to lease the canal, and upon which there
will probably be struggle, inasmuch as
it involves the government Of the canal
company. One class Of capitalists ask
for lease Of the States interest in the
work, and another class are for an abso-
lutc sale of said interest. As it is we'll
known, the State has an interest as Gre
dltor aud also as stakeholder, but it is
not considered of much value. The
stock Of the State, however, is the bone
of contention, for the reasons that which
c'er party obtains an assignment Of it
will govern the canal to suit their own
interests of course One Of the princi-
pal mining companies of Allegany coun-
~ is making an effort to purchase the
canal stock of the State, which, it is
thought, will perhaps give that company
an advantage over rival coal companies,
and enable it to influence to great ex-
tent the whole agricultural interest which
the canal was intended to promote. For
this reason, it is understood that other
coal companies will be 10 the field, and
the struggle that is expected to come off
between the black giants of our own
mountain regions will be interesting to
outsiders The preferred bondholders
are making an effort to secure their large
advances in case the State parts with its
interest and control over the work. They
are making great complaints and opposi-
ton to the disposal of the States inter
ests without afording them some securi-
~, such as was contemplated by the act
of 1872, which Independent, it is as
serted, Of any suggestions from parties
interestcd) authorized its sale by the
State treasurer, and which provided
:" that before any transfer Of the States
interest in said work should take place
the payment Of the debt to the holders
of scrip and ether creditors should DC
secured in proper form" The bill be-
fore the Senate provides for this object,
and the parties interested and urging its
passage are demonstrating against the
lease or sale of the States interest in the
canal without securing to them the large
means advanced by them Con the faith Of
the States continued control) to effect
the completion of said canal, and with
out which all previous expenditures would
have continued valueless.