Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-01-19

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requisite duty. a careful investigation
and presentation of the facts is proposed
and that the examination shall extend NOT
only during the terms of this admiuistra.
ton, but shall go back as far as the alle-
cations, viz, to 1853. Let the history of
| the i've million loan be furnished. Pre-
sent the history of the Connellsville Road
IN connection with this Company. Let the
facts be presented that when the
city in 1861 refused to make the
purchase of the stock OF the Oonnellsville
Road, whilst holding one million of dollars
OF mortgage interest upon the property of
that Company, although earnestly urged to
act by President Latrobe, the Baltimore
and Ohio Company was then appealed to,
when, with foresight and determination, it
came forward to aid in protecting the in
terests of the citizens of Baltimore, and
purchased that which the city authorities
rejected. 1t was only after the city of Bal
tlmore refused to make the purchase that
this terrible Baltimore and Ohio Railroad,
"ithsits awful President aud dreadful Di.
rectors, did what? Came forward then to
promote and protect the interests of the
city OF Baltimore, by preserving the Pitts.
bnrg and Gonnellsville Road and its rights
in friendly hands, in order, at the earliest
practicable period, to insure the coustruc.
ton OF the road to Cumberland. This act
was wisely calculated to preserve the char
ter OF the Company, and, under its rights,
10 enable the commercial interests of Bal
tlmore, with reciprocal benefits, TO strike
the great trade centreiug at Pittsburg and
reach the heart of the magnificent North.
west, Notwithstanding the antagouism and
enormous power of the Pennsylvania Road.
To the Baltimore and Ohio Railroad Com
pany, to you, gentlemen, is due this Judi
cious action, aud for this care and foresight
you are abused, as though you were guilty
OF efforts to practically deraud the city of
Baltimore.
The Mayor further states, in connection
with the Pittsburgh aud Conuellsville Rail-
road:
"Suppose the city's claim Is allowed to remain in
its present position; it continues increase at the
rate OF $4,000 year interest the principal and
$4,000 u year interest on what the Interest wouId
bring, the taxpayer loses 800 900 an
nually. The President, in the meantime will con
tinue to control tbs road, whose gross earnings ia
S3l3,92 81, aud whose net revenue is admitted to
be S.Ol,56s ~, with an outlay OF S5O,75O The ad-
mted net revenue that he is receiving yearly being
twice his original outlay, 20 that while tne Presi-
dent is realizing his original outlay annually and
pocketug Gle profit OF S5O7+O the tax PAYERS OF
Baltimore are compelled to pay 800 900 year for
'oeak road that never paid dollar of interest"
Again monstrous assertions. without the
slightest regard tor facts. Note that the
statement is "he," (the President of the
Baltimore and Ohio road,) "is receiving
yearly" "twice his original outlay, so thai
while the President is realizing his orig
inal outlay annually" he pockets 'a clear
profit of $50 75O." Will it not surprise
our fellow ciizens to learn, after such
a statement, that the Baltimore and
Ohio rail road has never received one dol.
lar from the Pittsburg and Connellsville
road-neVer received in any form, under
any circumstances, one cent from that com.
pany-thst road has confined to be finau-
cially weak" and this very day this
Pittsburg and Connellsville company has
bean before this Board as an applicant for
aid, and, am gratied to say, successfully,
for an advance TO them of money to pur-
chase additional machinery to perform their
work, which their contracted means do not
permit them to accomplish? They not
only have. long had, and still have, d
floating debt, with heavy obligations and
embarrassments, increased as they state
by the action of the Mayor of Baltimore, in
pressing suit against their company
You have sgreed this day, instead of hav-
ing received money from that road, to aid
them with large amount to purchase ma
chiuery. s... m.
Such is the position of the company
upon this point. Such is one of the State
ments which the Finance Committee (if
the Board adopts the resolution which
shall suggest) will be able to present as a
record from the history of the transactions
of the respective companies.
The Cnair has the most implicit conf
dence in public Judgment. The public
may be temporarily misled, but the pre-
sentation of facts corrects errors of opin-
ion. The Board has worked to command
the approval of the public judgment. The
statement of any party III so eminent
position as the MAyoralty of Baltimore
may, for brief time, affect opinion; but
the people are wise. The people require
facts, and will fully comprehend these
great subjects; and the people, even though
their convictions DO offensive to the pre-
sent Mayor of Baltimore, will sustain with
great unanimity the policy which advances
their interests and prosperity, saves them
from unnecessary taxation, and protects
their property.
Can you believe, gentlemen, that his
Honor the Mayor of Baltimore, whilst pre-.
senting most elaborate statement, en-
bracing the greatest details as to the sour
Gee and amounts of receipts into the treas.
ury, apparently designed as full record of
the history of the finances and affairs of
the city of Baltimore for twelve months
can you believe that By any means such AN
accident or oversight should occur as that,
in the text of such a message-in a year
when the taxpayers we're relieved to a pro-
digious extent by the earnings Of the Bal
timore and Ohio Railroad, resulting from
its careful management when the people,
in the midst of war, had their taxes limited
to rate which they could readily bear,
caused by such relief-that it was possible
the Mayor could omit to state the amount
of dividends received from the Baltimore
aud Ohio Railroad Company? In exam.
ing that message l cannot fad, although
the Baltimore and Ohio Railroad Company
paid to the city of Baltimore, on the 26 III
of April, 1864, dividend of four per cent.
on 45. 500 shares, aud in November, 1864. a
dividend of four per cent. on 10000
shsres-making total of S342 900, any
statement or acknowledgment of this large