The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-03-20

q first mortgage for four millions, with
which to complete this most important
work. This effort, which we strenuousy sup
ported at the time, was successful though
some we're so injudicious as to advocate a
sale of the citys interests, which might
have been availed of to their own purposes
by the very adversaries whom we had been
combating triumphantly in the courts. The
Baltimore and Ohio road at once took mil
lion of the new loan at 90, and others of the
bonds were readily disposed of, from time to
time, among our Baltimore capitalists, till
now the whole loan has been absorbed, the
last of it, some $4O0, 900, in the past few
days, at 80 and interest, showing the conf
dence here felt in it as a first-class security.
AS the result of this wise hberslity, this inn
portant road is now almost completed, the
track-laying going on in both directions be-
tween Cumberland and Connelsville, and be-
fore the end of this month the whole of the
iron will have been put down. All the
bridges upon the road are to be of iron, and
are contracted for at Baltimore and Pittsburg
mostly here-and nearly all will be up by
the time the track is finished.
On this enterprise are based the efforts for
an Independent line from Pittsburg to Chi
cago-the Baltimore and Chicago extension.
The completion of the Pittsburg and Connells-
vile road will add heavy volume of trade
to this city, and, with its Western conuec-
tions, existing and in prospect, its influence
upon the prosperity of Baltimore must be i'm
mense, and triumphantly vindicate the policy
of having held on, through all trials, to the
charter and the final accomplishment of the
scheme by the waiver of our city's first lien
upon the work The city will now stand in
the position of second mortgage creditor
upon finished road of 14S miles in length,
with only $4,OO0,0O0 taking precedence
of it-a road which, no DOUBT is, in due
time, to be very successful one, not
only augmenting the trade of Baltimore, but
serving to stimulate the growth and add value
to much Of the property of the city. The
annual report of the Ohio and Baltimore
Company for 1870, just issued, in alluding to
the expected early opening of this line, says:
cit is believed that no line heretofore opened
in connection with the system of improve
ments of this company ever promised to COM
mand SO large a business, or produce more
important results in advancing the interests
of great communities. Arrangements have
been made for an increased equipment
to meet the requirements of the
large anticipated traffic" Low through rates
must prevail on this line to Pittsburg, as the
Northern Central Road, in connection with
the Pennsylvania Road, offers direct compe-
tition for the traffic. The advantages which
Baltimore offers the West-such points as
Chicago and st. Louis-of route two hun
dred miles shorter to the seacoast than any
other, will, as regards the Northwest espe-
cially, be augmented by the opening of this
line, and the very considerable amounts of
heavy freights which the Baltimore Road
has heretofore diverted from the New York
roads will probably be materially increased in
the future.