Middletown transcript., 1869-02-27
Answer to stakeholder"
For the Mddletopn Transcript.


of our Maryland neighbors, in Kent coun-
ty, can scarcely fail to interest the readers
Of the Transcript, SO many of whom have
substantially become identified with the pro-
ject. On this account venture some obser-
vations on letter which appeared in late
issue of your paper, signed Stakeholder"
do SO in no querulous spirit, but because
the oracular style of Stakeholder is well
calculated by its very flippancy to mislead
readers who are not familiar with the sub
ject of railroads in general, or the opera
tions of this road in particular. Stock
holder reminds me of that patient animal
who, having Balam on his back and find
ing his rider unable to speak for himself,
pricked up his ears and spake for him.
Let us sound little of his braying and
find out its value.
To read his fling at the respectable and
wealthy gentlemen to whom the Kent
county r. r. Co. awarded their contract
last Spring, one would think him devoted
to our local interests as opposed to all
''itinerating contractors" This sounds
first rate if you're green enough to be gull
ed by him. What is the true meaning of
his advice? A few facts will show:
We all know that the P. w. & B. Rail-
road is owned almost entirely in Boston
that the same parties own or control the
Delaware railroad, and nearly every mile
of railroad on this peninsula; that Mr..
| FELTON, is from Boston, as is Mr.. Hinckley
that the executive oficere on our o,oR ~
local road are, with a single exception,
Boston yankees; that Mr.. Parker and
Mr.. Stearns are also from Boston; in
short, that Boston, city which some
among us have spent great deal of time
in Safeguarding, city not located pre-
cisely in Delaware or Maryland, carries
about this cosy little peninsular in the
breephes pockets of its solid men, who sell
us at the board every day on State street,
at SO much or SO little per share!
When, therefore, we are told of the
"magnanimity of tho Del. r. r. Co." We
are reminded of the "magnanimity' of the
spider, who so generously offered the hos
pitality of his parlor to his neighbor fly.
If Stockholder were candid he would talk
differently; he would say, gentlemen, let
me sell you to Boston, I've sold myself,
and therefore l know how to conduct the
negotiation Boston stands ready to take
you she has reached out her clutches to
Massey's Cross Roads, and next May
he'll stand there and whistle for you; I've
been we'll paid for what I've done in sell
ing the Queen Anne's people to Boston,
and I'm willing to sell you and take the
chances Of the pay its glorious privilege
to be sold to Boston, don't you see you have
railroad and have the luxury Of paying
more than four cents mile for travelling
on it; why this is only 33 per cent more
than is paid on any railroad in the country
no further south nor west of this peninsu-
lar; see how proudly aristoeratie is your
position these cursed yankees only pay
cents mile at home-there's are cheap
one-horse railroads.
This would have been an honest state
ment that we could understand.
Do seem to impeach the accuracy Of
Stockholders statements? l trust SO, be-
| cause this is precisely what mean to do,
and proceed to notice them little more
in detail. 8
First, we are told that iron is So to SIC
per ton higher than it was last Spring,
when the company made contract. M
, such thing; English iron was then $51 ir
gold, in store in New York, and to-day
can be bought for $52, gold. Gold was
, $1.35 and now is $1.35 to $1.36.
Second, the assertion that the road can
be built for first mortgage bonds, ha'
about as much truth in it as the other fa
bic. Propositions have been submitted I,
!, ,, the company for the construction of th'
] work in every one of which the first mort
: gage bonds were the basis, by Mcssrs.
Watson & Co. of Baltimore, Stearns ant
: Rutter of Wilmington, and Sears, Backu
and Sanford of New Jersey, to whom tn,
work was let, and threw up the contrac
y because of the tyranical administration O
= the Chestertown Directors-that portion o
!. the Board who acted in concert with sucl
If as Stakeholder to defeat the road of it
1t most natural terminus, i. e. Middletown
but pandered to the becks and mods of tn
Del. R. r. Co. who, after using all tn
l. duplicity in their power, had to hunt up
n defunct charter, showing an authority ga
q clear as riud'' to the intelligent people @
d Cecil and Kent.
Third, Stakeholder intimates that th
4 Chestertawn wharf was built by the cas-
le of the company. This is true only so ia
: as county bonds represent cash, thoug
ID the contract was made for first mortgag
bonds, and the eompany's indebtedness
would have been paid in them if they ha
S. been printed; as it was, large discoun
,e was made the company for differences i
value. Stakeholder asks if any one wi
explain why the Directors voted away s
many thousands to build the wharf Th
- Chestertown wharf or some wharf on ma,
" igable water was necessary, because, ft
the cross-ties of Kent r. r. it is necess;
. ry to 20 to the Western Shore where the
~ can be procured at comparatively chea
cost, and also because the iron may be d,
livered there, without transhipment,
e! vessels drawing IA feet of water. 1t W,