Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-02-12

of discussing certain projects now before Cor.
gress looking TO increased railroad facilities %
interesting to the members Of the Board both
as citizens and business Ineb
Mr. +. b. MEG uIre, treasurer, submitted his
report, which shows that there are IN the
treasury At this time es39.50 The report was
accepted. and a resolution (offered by Mr.
Samuel Bacon,) adopted remitling the dues OF
members for the year ending November Is69
because Of the healthy d ancial condition O,
the soCIeiy.
Mr.. Alexander r. Shepherd offered a res olu-
uon appointing Messr John T. Mitchell, II
d. Swteny' and William A. Cook, Corpora.
non AttoInry,) committee TO urge upon Con
sress he importance of the pass age of q law to
modify or repeal the usury laws Of now exist
ing in the District. Mr.. Shepherd stated tina,
u tne corporation Attorney could be interested
In This matter he thought it highly probable
that law of this kind could be passed by Con.
gTess this session.
On motion of Mr.. Bacon, the Finance Com
of the rooms Of he Board to Messrs. Clagett 4
SVef NY, the grcprietOrs.
Colonel Wall offered a preamble and resolu =
ton which sets forth that as it is evident, unless
the property-ownersa and business men Of the
District take Immediate action. the Southern
Maryla Railroad Will be diverted to Bait i
more instead Of being built from here to Point
Lookout, as il should be. a committee of H. De
appointed by the Board, who shall wait on the
proper y-owners and business men OF the Dis
tIIct, with the agent of the company, aud i'm
press on them the necessity Of taking stock III
"a road, with the provisO that the building o;
the road shall commence at Washington: and
hat the committee OF the Board before Coz
gress, In conjunction with the Mayor and City
Councils, asks that body TO empower the Cor.
poraiIon OF Washington 10 make 4 subscription
TO the stock OF the road, provided ITS building
rs commenced from The Washington terminus,
ard that immediate acton be urged to prevent
this road from being diverted from its natural
route.
Mr.. Hutchins, the agent of the road men,
toned in The above resolution, being present
by in vitatIOn, addressed the Board, giving a
history of the road. and stated that the route
proposed " as from Washington through Prince
George, Charles and ST. Mary's counties TO
Point Lookout. He stated that having been
appointed to wait on Mr.. Garrett, Of the Bal
timore and Ohio Railroad, and Gov. Bowie, of
the Potomac Railroad, he called on those gen i
tlemen, when the former said that he was en-
gagged in too many enterprises to 60 into any
others, while the latter expressed his good will
for the road. but could nothing for its ad vance.
ment. He now came to Washington at the re-
quest OF many Of the prominent citizens, and
urged upon them the propriety of subscribing
TO have il brought here, as he thought it was the
proper route, and would prove Of incaiculable
advantage to this section. Mr.. Garrett had
SAID 10 one Of the agents Of the Southern Mary
land road that we could grade our road with
the money raised among the citizens of Mary
land, and could then mortgage the road for the
iron, when, if they would carry it to Laurel
he (Mr. g. would furnish the rolling stock.
In VIC" Va tuls PIOPOoltiOu. nutCQluS
thought that if the citizens of the District did
not take some immediate action. the road would
be diverted from its natural terminus. He
hoped they would promptly respond. and hold
the stockholders TO complete it to Washington.
The roao could be easily constructed, for there
was not strem along the whole route which
would require any construction that could be
diRnified with the name OF q bridge. BY con-
Meeting Washington with Point Lookout and
the latter point with Norfolk, it would be one
OF the best Investments in the country. The
route from Point Lookout to Norfolk was not
over 1i9 miles, and the amount now needed
was about S5UU,UQO.
Mr.. Shepherd recognized the importance of
some such scheme az WINS proposed The great
agricultural fields OF the adjsining counties
would he opened up to this city, and would.
beyond doubt. increase trade. Care should
be taken, however, to see that the Washington
subs cribers should have a say in the workings
OF the road. To such wise foresight, Baltimore
owed the greater portion of its prosperity.
Colonel Wall spoke of the tact that already
one half of the funds suffci ent to construct the
road had been raised in Maryland. aud it was
highly desirable that the Corporation and bust
ness men of the city should work against the
proposed efforts which were being made to
divert Its course.
Mr.. Metzerott said that Mr. Garrett had
offered 10 equip the road and lay the track for
the purpose of showing his vindictIvenes.
He (Mr. Garrett) did not want this road 10
come TO Washington because it would iLjure
the trade OF Baltimore.
MIR. X. NJ. Hall said that when Mr.. Garrett
attempted to carry point ha generally sue
ceeded; and If he mad determined TO divert the
course of this road from Washington he would
do it. unless extraordinary efforts are taken by
he people of this District 20 PREVENT.
DIR. Morgan said he had conveIsed with a
number OF the directors and stockholders of
the road, and they are ali very well satisfied
that the building of the road should be com
menced from Washington, and as the guaran tee
would be given that il would be started from
this city, be though, the people of Washington
90 m N hp m or n mi lv-
Mr.. John I. Mitchell here vacated the Chair
and addressed the meeting in behalf of the pro-
posed route. He thought il desirable that the
road should terminate here, but the question
was how TO accomplish that object how could
the money be obtained. He was opposed TO
subscribing 10 any stock In any road which
Could not consent TO come under the control OF
Washing, on. MIR. Hutchlns had already stated
thar there were s35O,OOO worth of stock taken
and came here for more. Now, what could b.
expected Of the citizens here! There are
return in interest to some extent. He did
not believe il would cost less than
million and quarter of dollars to bring the
road tIom the Patuxent to Washington, and
upon this there could not be expected more
than yield OF six per cent. premium upon
stock subscribed. But while the interest 10
private stockholders would not exceed six per
cent, yet 1t would be worth twenty five per
cent TO the business interest of the citizen
For himself, he was willing TO take stock In
the road and give ii to the company If il should
be brought here, for it would pay him more
than six PER cent. In the increase Of his bust
ness. BY private subscription, the fruits of the
enterprise, If successful, would be reaped by
parties who had not a dollar invested In
orcer 10 complete the road here, the company
would want Sl50,0OO from the citizens Of Wash
ing ton and S2OO,COO from the Corporation 70
begin with. Where would the balance neees-
sary 10 finish il come from; and, in fact, was
there any assurance that that SI5O,OOO could be
obtained from the citizens,
Mr.. Shepherd.-No. Let the Corporation
subscribe SJOO,CO0 which was the only way TO
carry out the work.
Mr.. Mitchell, continuing, said he did no,
think, after all, that Mr.. Hutcnins could say
that there Were twenty five men here who
would take $500 OF $1,000 in stock apiece. Like
MIR. Shepherd, he thought the proper way was
through The Corporation, which should sub.
scribe at least S3JOUGU. The best plan was for
the committee to procure an appropriation
from the Corporation, and if five or six hun.
dr. d thousand could be Obtained 20 start with
he believed the road could be run into Wash
inston. In conclusion, he again repeated his
Willingness 10 subscribe and ask for no diyi
dend; but thought private subscription not the
proper way to begin.
MIR. Shepherd suggested that as there was
now bill before Congress to allow this road
an entrance into the city, II would be q good
IGea If a clause was inserted granting the city
the right TO subscribe for the amount of stock
necessary.
ton every thing in regard 70 the Corporation
taking stock in the road. He was opposed To
II. II the citizens wanted 10 subscribe let them
do II. He spoke Of Point Lookout, the termi
nus Of the road, being sand beach. and con-
tended that it was not right to ask the Corpora.
ton TO subscribe to the stock.
Mr.. Shepherd referred the last speaker to
the fact that me great watering places of the
country We're sand beaches, and the surround.
ing country sterile, but the construction OF
de N fhoaa 70 haA I'M a