Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-05-15
THE BALT1MoRE = OHIO ROAD.

Thursday last, The committee OF finance
reported the following resolutions:
RsSolved, That dividend of four per
cent, be declared on the stock of the main
stem Of the Baltimore and Ohio Railroad
Company, payable on aud after the AID /
Nay, inst, at the Merchants' Bank of Ball |
timore, aud that the transfer books be |
closed on the 18th instant, and remain
closed until the 22d inst.
ResolUed, That the United States tax be |
paid by the Company.
Regolved, That dividend of Eve per |
cent. be declared on the stock of the Wash
ington branch railroad for the half year |
ending the 3lst March last, payable on and |
after the 18th May, at the Merchants Bank
of Baltimore.
Resolved, That the United States tax be
paid by the Company.
In connection with the financial condi-
ton of the company, the President stated,
that under the policy heretofore adopted by
the Board, it would be necessary now TO
make very large expenditures. The war
had ceased, and the entire territory be-
twixt the Chesapeake and the Ohio river
was permanently restored to the authority
OF the government, without danger of inter
ference or Interruption. II was proper for
the company Immediately to proceed to
erect extensive machine shops and engine
houses at Martinsburg and Piedmont. and
to add to the facilities of the company at
Grafton, Wheeling and Parkersburg, and
other points upon the line, and to fully
supply these shops with machinery, so as
to effect the greatest economies in the man
sgement OF the equipment and transporta-
ton of the company.
1t ia also the design of the company to
erect, at the earliest practicable period,
FIRST class iron bridges, to replace every
trestled structure upon the road. Already
four extensive iron bridges have been pre-
pared at Mount Glare, as we'll as one span
for the great bridge over the Monongahela
river near Paramount. AT the earliest
moment the condition of the streams will
permit, these structures will -beperuianent
~ erected.
A large force is already engaged in the
construction Of double track, and the
| company's programme was not only to re.
store all the double track destroyed DUR
sng the war, but also to perfect the lines
rom Baltimore to Harper's Ferry, and all
OF which, it is trusted will be accomplished
within the current year.
Work for the great bridges over the Ohio
river, connecting the main stem and the
Central Ohio road, and the Parkersburg
Branch with the Marietta and Cincinnati
road, has been vigorously commenced, and
large quantities of stone have been prepar-
ed, with the design of erecting portion OF
these structures during the coming sea-
SOD.
The large amount of work necessary to
make the Parkersburg road reliable and
effective, has slse been commenced. Une
thousand four hundred tons of new iron
have been forwarded for the improvement
of that line, and ss early as the cost of la
Dor is reduced to the ordinary standard, in
a normal condition, it is designed to arch
it's tunnels. improve the cuts and widen
the entertainments.
The President congratulated the Board
that the resources of the Company had
been carefully husbsuded during the war,
80 that the enormous expenditures now re.
quisite to restore the works and improve
aud perfect the route could be made with
out the embarrsssments usually attending
such enterprises.
After further explanations regarding the
condition of the Company and plans for
the development Of its interests, the ques.
ton was taken upon the adoption of the
resolutions proposed by the committee,
which were unanimously approved.
The report of the committee of Trans.
portation which was then presented, 10
very large reductions in the rates for the
transportation of coal. The President
stated to the Board, that although the ex-
penses of the Company had increased
rapidly and very largely during the past
year, yet the Company had not advanced
| the rates during the fall and winter, until
the 10Th of February last.
The advance then made had worked
most adyantageeusly for the interests of the
community, as the Company at that
time decided, in order to increase the
supplies of coal, to diminish largely the
through business which then pressed hesv-
lily upon it, at most remunerative rates.
Whilst the latter trade was more profitaa
BILE to the Company than the former at the
advanced tariff. yet the necessities of the
country urgently required an increased
supply Of coal. As the demands for both
could not be fully met, the decided prefer
ence was thus given to ;he coal trade
Under this policy, such additional quanli-
ties OF coal were brought to market as,
Notwithstanding the advance in the freight
materially reduced the market prices of
coal to the consumer and shipper. Prior
to that period, the parties interested 10 the
coal trade secured the extraordinary aud
unprecedented profits of more than FIVE
dollars per ton, because the demand far
exceeded the supply; but upon the increase
of the supplies thus furnished, under this
change Of system by the Company, de.
cline of several dollars per ton followed at
an early period. The business of the Com.
Psny has continued to this time up to it's full |
est capacity, the varied and extensive trade |
pressing,upon the route occupying its entire |
equipment.
Having conferred, however, during the |
past month with parties ipterested in the
coal trade regarding itsconditien and pros.
poets, aud having in view the rapid decline
in the price of gold. and consequent reduc.
ton in the cost of the necessities Of life |
which will follow, the president deemed it |
proper to recommend to the committee of |
transportation the adoption of the resolu- |
tons before the board, by which deduc-
ton oil ST 90 per ton on coal from Cum.
berlhud and Piedmont to Baltimore, and
So per ton from Newburg, Paramount and
Clarksburg, on gas Goals, shall be made. |