The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-08-29

r. Garrett & Sops,,..... ....,...... $50
A. Hack Son ACKNOWLEDGEMENTS. lG;2l6.1
These parties, and these alone, have received, in
cash and notes. an entire settlement of their claim for
interest accrued on the extra dividend to June lst,
and if they we're all shrewd enough to pass their
paper away, as The city did, they have little
| immediate interest the city in the result
| of the motion for new Injunction before
| Judge Giles. Whether this Is oil calculated
| to account for TBS prompt suspension of pay
ments account of interest, upon the mere
| intmation that Judge Giles would hear motion for
| injunction at a future day, and the acquiescng so
meekly in the postponement of that day, we leave
the reader to Judge. There is little popularity
| about these notes which will strike the observer,
which is, that Robert Garrett & Sons received tco
| one for $50 206.3l and another for $4,000.
We understand them both to be on the same ac-
count and, if so, it shows that that firm had re-
markedly good care taken of its interests in the
| Finance Department Of the Board, as it was not
compelled to take the common chances of the rest
of the creditors on even so small $3.50. If
any of the Directors of the Baltimore and Ohio Rail
road Company wish to verify the correctness of our
statements and figures with regard to these notes,
they will be found entered on the Accommodation
Bill Book, and not upon the regular Bill Book of
the Company.
1t thus apparent that beside the cities of Ba Iii
more and Wheeling, and the State of Maryland
the parties made entirely safe are Robert Garrett
Sons, Johns Hopkins, Wesley Starr, A. Hack &
Son and j. J. Atkinson. MIR. John w. Garrett is
President, Messrs. Hopkins, Starr and Hack are
directors, and Mr.. Atkinson is treasurer. Why
should not these gentlemen take care of themselves,
having the power to do so entirely within their own
hands? That mere outsiders should expect to
thrive as well as those who make the paper and
draw the checks, would certainly be extremely pre-
sumptuous.
But there is something else worth inquiring into
in this transaction. We have before us a stock list
made up for the November election and the March
dividend, which embraces all the holders of 100
shares andupwards, and upon this we find credited:
Nov March.
Johns Hopkins. Z 500 shares. 400 shares.
Rob Garrett Sons. 100 g $50
The other three preferred note holders, Messrs.
StaT, Hack and Atkinson, do not appear in our
list at all, which, if it be correct, believe it
to be, would indicate that neither in November nor
March did either Of them hold 100 shares of the
stock.
Mr.. Johns Hopkins, with 1899 shares of stock in
March receives, for his interest two checks one for
S2,S5l.2O and one for SIC, 1850, or $l9,576. so
in cash, and Sl6,725.60 in note-in all $780,
S02.40 Robert Garrett & Sons, with 1850 shares
OF stock in March, receive check, $50, 20G75, and
notes, $50, 206.75 and S7sOO0-in ali S4l, 293 so.
Now it is generally believed among the well-n-
formed, that the house of Robert Garrett & Sons
some eight months ago, held few or none of the Di
vldend orders. Since that time these orders have
sold in the sheet in instances, we believe, at
less than 10 per cent frequently at that figure, and
a little higher. Now If that --~~i.h.- -----
ceeded In buying up the 1924 $500, par value of
dividend orders upon which it has just received
Sal 2935 80 for interest at anything like those rates
it must be said that it has made remarkably good
thing of it, Mr.. Hopkins interest is referred to as
bearing internal evidence of being far more legiti
mate. He is not known to have ever parted with
his original Extra Dividend bonds or orders
In making these disclosures we perform what we
accept as public duty. Were the Baltimore and
Ohio Railroad mere private corporation, gotten
up to subserve the purposes private speculation
merely, it might not fall within our province to
NEEDLE with its management But looking to it as
the main stay of our citys prosperity and progress
and regarding of vital Importance that it should
not be perverted from its purpose to foster the
merest stock jobbing, to build up the fortunes of
any individual whatever, we shall continue to ex-
pose and denounce they deserve such proceedings
as those here laid bare. We know not upon what
ground of public or private morality they can be
defended and we cannot hesitate to say So let the
blame fall where it may.