National Republican., 1873-11-19
WEDNESDAY MORNING. y. NOV. 10, 1873
BALTIMORE AND ONO RAILROAD
COMPANY.

I
dcnce and economy Of It's construction and
line was deemed by many engineers at the
tlmc an absurdity that would he signalizcd
by utter failure. Its final completion
and successful operation wus justly esteemed
tho greatest triumph Of engineering skill oc-
curing during that period. 1t has more cur
vature, heavier grades and greater mileage |
OF tunnel than any other great trunk line |
between the Atlantic and the Ohio basin, and |
yet II hauls Its frcights at Ices expense per
mile than any Of them, and shows more net |
earnings. The last annual report made by |
President Garrett for the board Of directors |
to tho stockholders Is clear, concise and |
buslncss-liko document. The exhibit which |
Il makes Of the condition OF the affairs |
Of the company must be most graft |
flying. As may be seen by refer
crcncc to the figures In another column
the gross earnings Of the road and branches
during the last year to the enormous sum Of
fifteen and half millions. Its expenses
were ten millions, and net earnings for the
year Eve and half millions. Two scmi.au-
nual dividends Of i've per cent upon the
capital stock were made and paid In cash,
and the balance Of net earnings Of the year
carried to the surplus revenue capital ac-
count which now amounts to upwards Of
twenty-niDc millions, composed entirely Of
undivided net earnings Of the road. This
crcditablc showing Is unparalleled In the his
tory OF the railroads Of the country, and in
dicates vigilance and prudence In the man
ngcmcnt worthy OF the highest commenda-
tlon.
While this judclous action has character
lied the policy Of Mr.. Garrett throughout
the history Of his administration Of the Affairs
Of the company, II has In no sense curtalled
the proper spirit Of enterprise that should
pcrvadc works of internal improvement Of
the magnitude Of the Baltimore and Ohio
railroad. On the contrary, with far-sceing
sigaeity the policy has been pursued Of
gradually extending Its lines westward TO
Cincinnati and st. Louis, to Plttsburg and
Chicago al the Northwest, to Lynchburg,
liarrisonburg and Staunton at the South
west, by which important connections arc
formed with oil the great producing sections
OF the country.
Having taken these measures for the at
traction and concentration Of the surplus
products Of agriculture upon the seaboard at
Baltimore, Mr.. Garrett next turned his at
teniion to providing facilities for their cx-
portation abroad. In 1863 line OF Clyde
steamers was established to ply between Bal
tlmorc and Livrpool in connection with this
mammoth system Of railways, and SO large
was tho traiilc seeking this new route that
there arc now six nrst-class ocean steamers
proGtably employed In the line. This route
from the Mississippi valley to Europe Is cx-
cmpt from the extreme cold Of the Pennsyl-
vania and New York lines, besides being
much lees In distance by railway, and conse-
Qucntly much cheaper; q combination OF I'D
vantagcs which always exert a controlling
influence In the direction Of trade.
IL will DO noticed with much pleasure by
tho citizens Of this District that the Western
travel and traffic Of this line now passes over
the Metropolitan branch through the Ma
tional Capital, and that the Baltimore and
Ohio Company speak with commendablc
pride II possessing In that branch the short
est route from Washington to all parts of the
West and Northwest. Another matter for
congratulaiion by our citizens Is the official
statement that the company Is guaranteeing
the construction of line from this city to
Point Lookout, Maryland. This will give
Washington more easy access TO Norfolk, by
way Of the Bay Line Of steamers from the
Point.
The vast combination Of railway facilities
at the command Of the Baltimore and Ohio
Company were Of essential service to the
Post Office Department during the season
Just past. When the Northern companies
combined together to strike for higher rites
OF remuneration for hauling postal cars, the
sagacity aud patriotism Of Mr.. Garrett and
his associates prevented them from joining
In tho arrangement. But, learning that the
Postmaster General could not legally ac-
ccdc TO the demands Of the combination
without the authority of Congress, they
at once placed their entire facilities at
the disposal of the Department, leaving the
question Of remuneration for future equita-
bic adjustment by Congress and the Postmas-
ter General. This prompt action Of the
comTa any broke the back Of the corner"
and the people were allowed to enjoy their
postal facilities un!n,crruptedly In spite Of
the monopollsts.
Since the opening Of tho Metropolitan
Branch the Baltimore and Ohio railway has
become virtually q quasi Washington insti-
tuition. II affords our citizens as many facil-
tiles as 1t does those OF Baltimore, and we
hail the evidence Of It's continued and In
creased prosperity as another sign Of the
permanent and healthy growth of the Ma
tional Capital.
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