The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1871-12-16
Western Maryland Railroad.

Ga "Wednesday last, Mayor Vausant
sent 70 the Baltimore City Council, the
report of The President AID Directors
Of tho Western Maryland Railroad,
with aa accompanying messagc.--
The report gives clear, full and cau.lid
statement Of the financial condition Of
the company While giving this ex-
hibit of the true state Of affairs, the
directors make no animadversions upon
the former managcment'o Of the road, but
content themselves simply with stating
the facts, leaving tho facts to speak for
themselves.
The sum and substance Of the whole matter,
SAYS the Baltimore San, Is, that ofthe 81, 200,-
900 Of bonds endorsed by the city, available
under tho ordinance Of january 81, 1870, for
the completion Of the road, aud which IL was
expected would suffice not only for the extern
sion and completion Of the road, and its ca uip-
mert to Williamsport, but also for the line
from 0wings' Mills 70 Baltimore, $3.50, 900 have
been issued; that the road is not finished in
any one Of It's three divisions, that the new adj
ministration will not apply TO the commission
ers Of finance for the $3.50, 900 Of bonds still in
their hands, because they cannot honestly do
so, It being clear that that sum will not suffice
to finish the road at either end; that there Is
a debt Of about s350,0O0 bequeathed to them
by their predecessors, in Part secured by the
hypothecation Of some $275,000 Of the bonds
already issued, and that, according To very
moderate estimate, it will take at least $780,
900, over and above the entire 81, zoo, 900 for
which the city's last endorsement was author
lied, to complete and equip the road. That Is
to say, after paying off the debt of S3s0, 900, it
will take three-quayters Of a million to finish
the work required to be done by the ordinance,
and that for both purposes all the means at the
disposal OF the company are the S275, 900 Of
bonds already hypotheeated aud the $3.50, 900
OF bonds in the hands Of the mayor and COM
mssioners Of finance, for which they cannot
apply without violation Of good faith and of
the plain terms Of the ordinance authorizing
their endorsement and issue. From this gum
mary Of facts Il is apparent that the restric-
tons Of tho ordinance Of January 81, 1870,
which were designed to protect the city's in
terests and TO insure the completion Of the
road with the aid then given, have proved
wholly illusory.
The practical part Of the matter is, what Is
! to be donor The new directors are prudently
cautious in the matter of suggestions and re-
commendations. The road has emphatically
become city work, the city being left to hold
the bag pretty much by herself. This was to
be expected, and nothing else from the policy
pursued. 1t is for the present council to repair,
as it best cansthe consequences Of improvideIt
legislation. To this end, Ii is suggested by the
new directors Of the road, first, that the re-
strietions imposed BY the ordinance of January
2lst, 1870, be formally removed, inasmuch us
they have practically been OF no value; sec
ond, that Tor the amount of the cnmpany's
bonds authorized to be endorsed by the city,
and which have not been sold, an equal amount
OF city stock be substituted, as being worth
more money to tbs company, and involving no
increase Of burden or responsibility on the
city. Third. and lastly, that means be provi-
ded to complete and equip the road, without
which all the money already expended must
be considered as so much capital sunk.
Doubtless it would be the best policy
to furnish the required SUN, that the
road may be finished us speedily as pos,
sible, for there can be no doubt that it
will be a paying concern when flushed.
Let the road, therefore, BE- flushed
without delay.