Evening star. [volume] (Washington, D.C.) 1854-1972, 1870-06-07
and Ohio Canal-El~etion
Of Director. re.


The annual meeting Of the stockholders of the
Chesapeake and Ohio Canal Company vas held
in Annapolis, Maryland, yesterday. Governor
Bowie said this was the day for the annual cleo
ton of president and directors of the canal CON-
pany. Mr.. Merryman then nominated James
Y. Clarke, Of Baltimore county, for president Of
the Chesapeake and Ohio Canal Company, and
George 8. Brown, of Baltimore city, Gflmor
Meredith, Of Baltihio-e c....yc, James g. EsITr,,
or Washington city, Isaac Young, Of Montgom-
lry county, William s. Mcpherson, Of Freder-
lex county, and William Dodge, Of Washington
county, directors. Upon balloting the represen-
tatives OF all the stockholders present voted for
the above nominees, (Mr. Berret substituting
the name Of William s. Huntington, of WASH
ington city, for his ownJ and they were de-
NJ. Merryman offered a resolution "that the
salary OF the president for the year ensuing be
into between the board Of directors of the canal
company and the Hon. James c. Clarke, the
president, by which he shall devote his time ex-
.
taken on the resolution, and 4 was adopted
unanimously. Mr.. Merryman offered resolu-
ton that the per diem Of the directors be abol-
ished, and that they be paid for their services
only their actual expenses, which was adopted.
The forty-second annual report OF the presi-
dent and directors gives an account of the new
decessors, Of the contracts made with Messrs
McKaig and Walsh for the building of wharf,
and OF the litigation which resulted therefrom
prised. Iftsays the reportthe shipment Of coal at
Cumberland continues to increase as IL has done
and as it probably will, the basin and the wharf
constructed upon 1t by Walsh y Mckaigw win be
This wharf is now loading about fifteen boats
per day. The returns Of the company show that
the average number Of trips made by the boats
last season falls short Of the average Of the pre-
ceding season, Notwithstanding the incre ased
amount of trade. Dam No. 8, which has been
the cause Of so much annoyance and of such
the company, is now completed The bills OF
working expenses of the canal for the last year
show reduction Of ss,15I compared with the
preceding year.
The trade on the canal has shown very large
increase during the last year. The number Of
boats loaded with coal and shipped from Cum
was 6,04o, showing an increase of ,557 in the
number of boat loads shipped from that point.
And the number Of tons OF coal shipped in 1869
VASES 49i an increase over the preceding year
increase will he still greater this year, and that
the canal will be called upon in one or two years
at the farthest to carry as much coal as its ca
pacity will enable it to freight. The question,
therefore, begins already to force itself upon the
company as to how this rapidly growing trade
shall be accommodated. The capacity OF the
canal to carry coal depends upon the num-
the tunnel, and IT has been estimated
that its greatest capacity does not exceed one
million Of tons descending freight per annum in
CO
expected to accommodate the trade beyond that
amount, as it will soon be called upon to do,
provision must be made to enlarge the capacity
OF the canal. The case now pending In the
Court of Appeals between the State OF Virginia
and the company will probably settle all gues-
uons of priority among the several classes of
creditors Of the company. Many friends of the
canal are looking to an extension Of the work,
and it has been estimated by actual survey that
canal can be made between Washington and
Annapolis, capable of carrying boats of Us tons
burthen, at q cost not exceeding s., 900 900.
The board has made an examination Of the ac-
cosnts OF their immediate predecessors, and
found the late president and one Of the superin-
tendents considerably in default to the COM
pany. tr...
The receipts for descending freight for the
year ending May 81, 1870, were S6l $50 more
than In 1869, and the increase in ascending
freight, S2g2.13. The decrease in repairs was
Sl5, s32. The revenues OF the company, derived
from iron all sources for the year ending Slst May,
1870, amount to the sum Of 1919 ,93937, and there
was balance Of cash in the treasury on the LIST
June, 1869, OF S7s ,011.2i-making a total SUM of
Si5l $50 90, and the expe nditures during The year
ending 31st May, 1850 were $685., 80. Balance
in treasury June LIST, 1870, Sl25, OS6.19. OF the
above expenditures there were paid on account
Of old liabilities SCI ,i23, and for construction
rebuilding, &C., S70,429. The president closes
his report by saying, with ordinary prudence
and fidelity on the part of its managers, the
Chesapeake and Ohio Canal Company may, be-
fore the end OF the next fiscal year, safely I'M
dertake to consolidate the interest i'm arrears
upon its bonded debt, and to provide for the
of Fl fs snsSF a5a to
the redemption OF the principal"
A