The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-09-11


Royal reservoir being intended as a substitute for
the Chase reservoir and for low service exclusively
1t follows, therefore, that the Chase Reservoir will
be used until superseded by the Mount Royal
These statements make it tolerably evident that
the expectations of the Chief Engineer will be
shortly realized, and that those residents of the
North Western section of the city who have so
often been disposed to repeat the complaint of
1.-THE Ancient Mariner
"Water, water, everywhere,
But not drop to drink !"
will have carly in November the satisfaction of
welcoming an ample supply.
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DLSCRININA TION-AN APPEAL TO THE
BOARD.
The government of the Baltimore and Ohio Rail-
road is peculiar one. 1t is sort of mixed com
mission, in which the State of Maryland, the city
of Baltimore, and the private stockholders are
jointly represented; from which fact we derive the
inference that theinteress of the STATE the city land
the individual proprietors are all to be consulted,
and those of neither to be allowed an undue pre-
ponderance to the injury of the others. 1t would
seem if the orignators of the road believed that
these several interests might easily be harmonized,
which, in the event of radical disa greement,
would necessarily bring everything to stand still,
since neither constituent body has majority of the
Direction, and it is only by an agreement be-
tween the representatives of two of them
that the corporation can be controlled. In
this view we concur. We have not the
slightest doubt that the best ultimate interests ofthe
State, the city and the individual stockholders are
t.bo H.. e. Il II
really still another class represented in the Board
which might be called stockjobber class the case
might be different, and it might happen that the
STATE, the city and the bona tde stockholders would
be sacrificed in turn simultaneously to this class
10 prevent this and to WELD the energies of this
vast corporation, that no illegitimate interest
should fasten on them. you, Messrs. N. E. BEhRY,
JOHN COATES, L. DEvECMoN, ROBERT Fowler, w.
W. JOHNSTON, j. McSHERRY, c. s. PARRAN,
G. w. ROBINSON, WILLIAM II. STEWART and
GEO. p. WHITAKER, t1e part OF the
STATE-WHLIAM CHEsTYuT, Il. CHASE, J.
HENDERSON, LEE McCoMAs, HENRY G. SMITH,
E. l.. THOMAS, II. TYSON, and N l.. WooD, on the
part of the city, snd FRANCIS BURNS, ALLEN A.
CHAPMAN, JOIN GREGG, WIN. A. HACK, JAS. HAIR
vEY, JOINS HOPKINS, r. II. MILES, J. S. NICHOLAS,
SAMUEL W. SMITH, WESLEY STARR, and HENRY A.
TH0MPsoN on the part of private stockholders,
were appointed Directors of the Baltimore and
Ohio Railroad. 1t is heavy responsibility gen
tiemen which is thus imposed upon you, but among
Your number, names appear which calculated
to inspire public confidence that any responsible
ty which you have assumed will be honoraby met
GU thirty gentlemen hold in your hands the
issues of life and death for Baltimore. You can
make this city flourish or fade. If you continue
the policy or rather practice-or policy may posi-
bly, be one thing and practice another, of carrying
freight the Baltimore and Ohio Railroad
u&er color of through arrangements
with connecting lines, cheaper for Eastern shippers
or consignees than for own, you will COM
plete what is already begun, and make Baltimore
only tender to New York and her merchants mere
brokers living here, but buying and selling on East
ern account. We do not think such policy or prac
tce wise or proper one, even for a day. No pre-
text of competition with Northern lines for New
York freights would in our view justify it.; but in
times past you may have been led to beieve-when
your President told you it was necessary to carry
the war into Africa for the purpose of conquering
a peace, that sacrifices must be made, and you may
have inadvertently imposed rather an undue share
OF these losses upon the trade of this city.
But now there is among the great East
and West trunk lines. a truce was signed at
Saratoga, going into effect on the 10Th of
August, which put end to all competition, and
dispensed with many serious items of incidental
charges. Moreover, since that agreement was
made, such has been the revival of trade, that there
is as much now all the rival lines can do On their
own terms, and prospect ahead Of more freight Of
fering than can be promptly brought East any
terms. Yet, before all this happened, your Presi-
dent kindly let the world know, in a semi
annual report, that your road was making
fourteen per cent. per aunum, and if it had been
losing he would, of course, have been equally frank
1t ought not to be doing than last winter,
but, on the contrary, much better. 1t, therefore,
appears to us that whatever difference of opinion
may have existed in the past as to the pro-
priety of discriminating against the trade of
Baltimore, the present would be n very good
time to stop it, if it is to be stopped
not to discriminate in favor of Baltimore,
as Mr.. Garrett has so often proclaimed his inten-
tion to do, but merely to show business men an
equal chance with those of Eastern cities. At the
present time, say at your meeting to morrow, when
your road is so prosperous, it would be most aus
picious moment to provide that the Baltimore and
Ohio Railroad should be longer n step
mother to Baltimore and handmade to Philadel-
pha and New York; unless, indeed, gentlemen,
you think that our trade is already so thriving
population and wealth so rapidly increasing,
and our taxes so light as to require some check
and cOunterbalance at your hands. If you agree
with US that the present moment is an
opportune one for inaugurating a new prac-
tice regards discrimination on Baltimore freights
you will ascertain for yourselves whether the
difference allowed by your rates between freights
brought over your road to Baltimore, and freights
carried over your roads through Baltimore to
points further East, pice Uersa is equivalent to
the actual difference in freights and insurance be-
tween Baltimore and the same points; and if it is
not, you will that it is made so. You NAV rest
assured that any rule less rigid any policy or prac
tce less favorable, is discrimination against Balti
more, under which she will wither and finally col
lapse.
But, gentlemen, there are other determinations
practised among you, which require to be looked
Observation-Disclosures in favor of individuals We
do not here refer to the charge, go often made and
so generally believed, that certain parties residing
in this city have preferences and favors granted by
your policies or practices which are not granted
to others less influential or not so lucky. This,
if true, is grievous wrong, and altogether con-
minister the trust confided to you. We allude to
another species of discrimination, recently dis
covered in your Board, which is the discrimination
of your President and few of your own body in
faror Of themselves.
On the 10th of August last, there appeared in the
DAILY EXCHANGE article entitled "a Passage
from the Secret History Of the Payment of the Inter-
est on the Extra Dividend" You or some of you,
have doubtless read it, but lest you should not, or
may have forgotten the points, it is proper to say
here that it disclosed the fact that nine notes were
recently issued by the Company, all payable on the
10Th September without grace, to the following par
ties, and for the following amounts
City OF Baltimore S94, 10000
o'a'e vi lo,ol4ZO
Clty Oh "heenng.......... s,OJOOO
JOINS Hopkins 16,725.6O
Robert Garrett Il Sons., 2O,2OS 81
j. j. Atkinson, (attorney 2,7S6.40
wesley Starr...... o,4I56O
Robert Garrett & Observation-Disclosures. 10000
a. Hack Son....... lO,24b9l
These notes are said to have been issued to these
parties in full payment of one-half of the accumu
lated interest on the ltigated Extra Dividend
Bonds-they having, with many others, received the
other half IN cash. These nine parties are said to
be the only favored with notes. and the only ones
to whom it is now a matter of comparative indifer
ence so far as the payment of the arrears ofinteres
on the Extra Dividend Bonds is concerned, whether
the late injunction is renewed or not These notes are
said to be entered not on your repular Rill Root, on