The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1871-10-26
The Western Maryland Railroad.

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The annual meeting Of the stockholders Of
the Western Maryland Railroad was held on
the 18th, at the Office Of the Company, in North
Calvert street near Centre. The meeting was
organized by calling Colonel A. Shriver, Of
Frederick. to tho chair, and appointing d.
Preston Parr Secretary. After the organiza-
ton, George NJ. Bokee, Esq, submitted the
following report of the work on the road dur
ing the year past, together with q statemat of
its financial condition;
Presidents REPORT.
Baltimore, September 80, 1871.
To tho Stockhoider. ofthe Western Nd. Railroad:
Gentlenen--Your Board of Directors have
the honor TO submit herewith, In compliance
with the requirements Of section 8 Of the char
ter, n clear and distinct statement of the affairs
OF the Company for the preceding year. Its
with much satisfaction that the present admin
istration Of your Company NAV point to any
small improvements In its finances. A refer
cnce to my accompanying reports will, think,
exhibit much improved condition In many
respects, TO which will add some not contain
ed in them. At the commencement of this ad-
ministration the pay-rolls of the employees
were some four mouths In arrearsi they have
been regularly paid up monthly for nearly a
year past. The second mortgage bonds ofthe
Company have risen about fifty per cent. in
price in the same time, though yet non-inter-
est paying. The suspended and floating debts
of the Company have been reduced three-h fths,
andVhe balance drawn Into a definite condi-
tod, and can be estimated exactly. There Is
cash and equivalents on hand TO an amount
sufficient to pay all the regular open accounts
the bills pay able, and large part Df the sus.
pended dept OF the Company. There has been
paid in the same time considerable sum of
coupon interest, while the bonded debt and
overdue coupons are in much more compact
and satisfactory condition. And the general
indications Of increased prosperity, showing a
gross revenue of Sl70, 929, 0l, and expenditure
of Sl22, GALS, and net reronu of Sl3 ISL. SO,
being an increase Of $50, 00l.4l over the pre-
oedng year, as set forth IN the report Of the
Superintendent, John I. Rigney, ESQ.,, are
matters of cordial congratulation. While the
increase in net revenue since the opening Of
the road TO Mechanicstown has not fully met
our anticipations, yet the evidences are suifi-
cient TO enable US to indulge the hope and ex-
pectatiou that the time Is rapidly approaching
when the Western Maryland Railroad, neces,
sarily enrichiDg the country through which 1t
passes, will satisfactorily compensate its stock
holders and prove Que Of the most important
aids to the prosperity and greatness ofthe city
of Baltimore.
The reports Of Finance Committee and En-
gineer give full and detailed accounts of their
operations. IL Is amatter OF unanimous regret
that alterations deemed necessary, excessive
demands for right Of way, and other causes
have prevented the realization OF sufficient
means from the last endorsements of the city
to complete the road beyond Hagerstown, thus
leaving the extension to Williamsport unpaid
for.
Heartily coinciding 10 the views advanced
by the Chief Engineer, in his interesting re-
port. with reference to the importance of Will
Transport as a terminus OF our road until its
further extension to the coal Ields can be ac-
complished, we respectfully urge the adoption
OF measures for the attainment OF requisite
means to ensure the immediate CONNIE ncement
and early completion Of that short and mex
pensive, but necessary line, to CT able us to
transport the bituminous coal to tides at
Canton.
Since our last annual report the work of
construction has steadily progressed, enabling
the Company to extend the regular RAINING or
trains to Rocky Ridge on the l6ih Of November,
1870, to hechanicstown on the 2sth of Deceni.
Der, 1870, and to Sabillasville on the 2sth of
August, 1871. The substitution ola substantial
bridge instead OF contemplated trestling orsr
Owings Greek, on section l6, necessitaled eon-
siderable extra graduation and masonry aud
delayed the completion to Sabilasgile AL
most insurmountablc difficulties have been
overcome In the removal OF tbe bard, solid cup
per rock encounter ed by the contractor in his
progress through the rock cuts approaching
Blue Ridge or Monterey Summit, but ere the
day Of your annual meeting the last obstrac-
ton will have yielded TO the preserving energy
of the iaborer, aud the track-layers will have
passed through on their way over a completely
graded road-bed to Pikesvillle or Waynesboro
station, Smithburg, Cayetowb, Chewsyillc and
HngeretowL, which latter place, under q con-
tinuanee of Gods blessings, can be reached by
the close Of the present year
The graduation and masonry upou the
0wings' Mills Division, between Baltimore and
Owings' Mills, is rapidly and satisfactorily
progressing, large force Of men being en-
ployed particularly upon those portions which
NIL attn A
energetic contractor, Nj. John Donoghue, Is
now actively engaged In grading the entire
line of the Emmitt,burg Railroad from Its
proposed junction with ou. road at Rocky
iudge to Emmittsburg, and hopes to complete
his work within the present year.
The Frederick and Pennsylvania Railroad ia
IN operation from Hanover, Pennsylvania, to
Taneytown, Maryland, leaving but few miles
nj unfinished road from that place to its con.
,templated crossing Of, and connection with our
road. On the south side junction with US
has been formed, and track is being laid
towards woodsboro' and Frederick. This road
when completed, will doubtless be an impor-
tant feeder TO the Western Maryland, and
largely augment its revenue.
At the solicitation Of citizens Of Pikcsville,
Pennsylvania, we have established station on
section Is, aud workmen are now engaged in
the erection of a substantial warehouse for
freight and suitable accommodations for pas
sengers. Fully alive to the advantages to be
derived from proper railroad facilities, the
public spirited citizens of that section of count
.ry are now constructing an cxcellant road
about one and a-half mile in length, ascending
the mountain at easy grade, which will con-
meet with the turnpike leading to Washington,
reducing the distance to less than 1--WE miles
from that place to our station, and enable
us to reap large share of the substantial ben
edits from that rich and prosperous agricultural
region which has so long desired railroad com.
munication with Its natural market, the city of
Baltimore.
Heads Of Departments and employees gener-
ally are dcseryedly entitled to much praise
for the energy and care exercised in the per-
iormauce OF their various duties as evidenced
BY the largely increased net revenue, regular
ity In running trains at increased rate Of speed,
close connections at the Relay House, and al
most tai freedom from accident. Their ca
pacity and fitness for rail road businass cannot
be excelled.
Respectfully, GEoRsE NJ. Boxes.
President w. NJ. r. r. Co.
ELECTION OF President AND DREcroRs.
After the report had been read the followin,