Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-11


bills yyICr TO The common cement of our line
as have been placed in our possession, that the
difference bstv cen he iOImrr and present rates
OF transportation ~ more than eighty per cent,
ali Of 1iicb has been saved 70 our citizens by
their Inauguration and support CT this line. IL
We may assume Ihe descriptions Of freight
above Lamsd 10 D. a fair average of the whole
amount uanspOrte q, aad apply the same ratio
of reduction 10 the amount carried on our Own
ships, emitting any estimate of the QUANTITY
cCnNt YEA ~ our opponents he saving 10 our
ciitzens for me year inst closed will amount u
so3itn. ard for the past two wears 70 SIt12,N
which is more than enough 70 p,sy the cost OF
the staameIs In the face of these figures no
one can tail 10 perceive the incentive to the
persistent opposition which seeks the annIhi-
iatIon Of this company that Its adversaries may
ssain be without a rival aud At liberty to adopt
such prices as Will yield excessive and princeiy
PIonts- III remains for the people of the Dis
triet TO determine whether their maehina,,ons
shall De- successful,
NHp'h me SeHs INST closed two imporsan,
hiTangemeLis lave been made IN cuaiampla-
uon Of extending for the public benefit,
the usefulness OF the ships of the company by
an enlargement Of the circuit heretofore as
sIered for their operations, In one case the
utility of the arrangement will depend upon a
Contingency. IL The seventy of the weather
should as in the last TWO or three winters
close the Navigation OF the Potomac, n. Balti-
more and OHIO Railroad Company have agreed
that our ships nsy load their cargoes at their
WharveS IN Baltimore, (LOcust Point whence
they viii be conveyed in burden cars 10 Wash
HgtCn, under the sup-Tintsndsnce of our own
aEen's. This accommodation Is preferred on
faiT and liberal terms, such as will doubtless
be CheeTtClly met by our merchants rather
than be subleCUd 10 the vsxatious DELAYS
which are sometimes incident TO the closing OF
our river.
In the other case the lew arrangement has
been CaaTed into feet. IL consists in extend
Ingth range OF service of our steamers by
curing III. m 10 touch at Norfolk on their way
10 and from New YORK. BY this means of di-
rect ana rsgulsr communication a trade has
been opeT "a between the DistTic: cities aud
Norfolk which promises to b. highly benefit
eiai to the merchants and people u both CON-
mhhiuss, srd by his means also direct inter-
course, by safe an regular steamers, has been
established between the District cities and Bos-
fop, as our ships can now connect al Norfolk
with popular line of Bosom steamers, al
whose wbaIf cur freight Is landed and thence
transported CiIect 20 Boston.
The report then pTeceeds 20 give in detail a
very satisfactory exposition of the business OF
the company for the past year, from VIII n II
appears that us patronage has so greatly in
creased a.. notwithstanding the reduced
prices. 10 produce revenue nearly $4,000
IN Excess 81 BE revenue OF the preceding year,
and piaciuS The company in possession OF sut-
nciFnt means 10 pay q handsome dividend,
which however. the president does not deem
advisable. but recommends, IN view of the I'M
pCrtance 81 the line TO the business interests
OF the community, that the money ba refined
in the treasury 70 meet any emergency thar
mSy hereafter arise, a well a. TO fortify the
winch threatens Its existence.
The report Of the president was accented;
after which. VIM. Wall. ESQ. admitted a res
e!u'ion OF thanks 20 The presiden, and directors
OF The line for their Excellent manag ment. and
UrsIDg merchants 10 continue their shipments
oy tols me- and use especial care ordering
,hsir freight sent 10 their ships exclusively;
winch was UNANIMOUSLY adopted.
Mr.. shepherd moved that a committee Of five
from amOrg the stockholders BE- appointed TO
solicit subscriptions. 80 as 10 increase the
mi al farE 90. - .a4 m
charter, and put another steamer on the line
50 as 10 provide against any accident which
might happen 20 one CT more of the steamers
With the increase of the capital stock TO the
amount as prescribed by the charter all Der :
soBal liability Of stockholders would cease
and ~ hiCh would relieve them OF an objection =
able feature under which they were now liaole
hr. y. w. Thompson spoke OF he advan-
taees 10 b. derived from having another steamer
on the line. H had taken a great pfids in the
hne, and be believed that they would be sup
ported by the cItizens OF the District He
would do as much any one. and he would
70 far rs any IN subscribing to the stock He
iatsd some statistics IN connection with the
hnr. showing the probable undertaking IL had
become. and the certainty OF greater prosperity
". q. Mefzerott, Colonel Wall aud others
made remarks, after which the motion OF Mr..
following gentlemen appointed as the commit
tee;-Messrs- W. X. Todd. j. G. McGnire,
Samuel Norment. A. II. Herr, and W. II. Phil
lips.
IL Was moved, and agreed 10. that Messrs
ne'zerotf, shepherd, Bacon, and Thompson BE-
eonuDued a directors OF the company; aud
t1at the secretary notify the stockholders IN
New York Of their action
MI Shepherd moved that the secretary BE-
instructed 70 prepare q letter TO be sent to the
Sour merchants OF Georgetown who chip by
The Merchants line, thanking them in behalf Of
The company for their generous couduct;
agreed To.
A proposition was then made To commenee
the subscriptions 10 the stock req uired-
A4AoC0-one Of the stock holders asserting thai
Mr. Clyde had boAsted that be could bpy the
stoch up arc overthrow the prssent manage.
meat Of the company. Subscriptions % TIE
ssoeh g oncs commenced, and GDe,QW wore
ssbseribso. Adjourned