National Republican., 1873-06-05
CANAL MITIGATION.

fehJ NVhihAuhiNNllOuos W. II pVHlFtts ~
CANAL NAVIGATION.
Meeting Of tse estockhslder- Of the Chc-a-
peskc and Ohio Capsi-Annusi Repgrt or
the Omcer--Thc Old On,csrs Ro-eieeied
Financial Rxbibit. $3.50 I.1as1
The stockholders Of the Chesapeake and
day. The president and directors submitted
May. . .I0-.IIl -
The main points pruschtcd are, That not
withstandlng the various delays aud draw
backs TO the trade Of tho canal, caused by
the horse disease, low water, blrning Of the
Borden shaft, carly close Of navigation, and
delay In commencing shipments In March,
they have, by reducing tho expenscs on ac-
count Of operating the canal. and pay of OH.
cors $14,3l8.49, bcen able 10 present moro
fayornble net result than for any correspond
Ing period since the Organization u tho COM
pany, viz: Tbs fcceips from the June I, t8J2,
TO May 81, 1871 were t4b4, ,oS3.7s; expcndi-
10 be ssis,lse, wiich is an Increase g com,
pared With tho ycar ending Nay 81, isn, ~
s54, ,8oo.67; inerOase as compared with year
ending May 81, 1874, 90, ,5t9.e8. fr l
During tho past year there was appro-
priated 10 the payment Of debts sass, S25.44
and there now remains In the treasury, In
cluding revenue accrued and collcctablc
within ten days, t7S,S16.T2. The following
statement shows the decrease In the expen-
dltures uuderthe various heads from which "
appears that there was a decrease In The pay
Of officers Of s7,5e6.5i; decrease 10 -cVntii-
gent fund, 81, i,l38.49; decroasc ip printing,
t2O8 40; together with other rcduttious, Wis
Construction, leT2, S2910.A7; 1873, si2,-
5i9.37; Increase, f1o, S0s.eo. Repairs ordi-
nary. isTs M sI3tossS lsTs seSsst 49, de- 4,
iSTs, sss, iissS; 1878, PI sSs'sSssi; S aservass,
st,5b5.05. Pay Of lockskeepers, 1871, ESQ,
7oi.il; 1873, s57,Ts5; increase, s1,6,S.so.
Pay Of officers, iS0l t18s73.l3; 1873, IS,
778.e2; decrease, sT,5965l Engineer de-
partment, 1879, 81, 1894; 1879, ~, 907. ~;
increase, sTo9is. Damages, 1874, q, ,i2s 45i
1STs, s475.6l; decrease, se53.S4. Printing,
&C., 1872, s1,s2l.44; 1873, e1,6l2.pS do
crease, s2Oe.46. Law expenses, lsTs, sf,SS8,
30; 1873, e., ~. .06; decrease q, ,2645S- Con
tingrnt, 1879, ss,s6l.5O; 1873, s5,6s6.0l, do.
crease, sl,2sa40. Total, 1872, t.s33, 506.27
1878, sos, ,4877s; decrease, 4,8lS.42.
OF tho condition Of tho canal the board
states that u has greatly Improved during th,
year, and with tho completion Of the West
| crn Maryland railroad extension Of the Cum
terland Valley road and tho outletlocks a
Georgetown, the trade must continue to In
/ crease and The cost Of transportation be ma
terially reduced. OF the legal matters th'
report states that tho controversy with tb'
lcsscos of water ronts at Goorgetown ha
grown out Of the fact that water power o
The canal to somO extent has been used to |
greater degree than the company contracts,
TO furnish, and together with other valuable
appropriated TO private use, without th'
i company deriving any compensation therefor
/ During the past year these abuses have Il
some extent boon corrected, and the rcyenui
Of the company increased, and In conclusion
tho board sayi "Regretting as we do tha
/ any controversy shoald hayo arisen. as W,
arc desirous TO promote the manufacturing
interest along the entire line Of canpl bu
tho board Of directors fnd that not only ha
i water been used without tho company bcinl
compensated therefor, and that other yaluabl
rights and property have been appropriate
to Individual use, which abuses must be cor
rected, notwl.hstanding =. ii,1 may involve tn
In Washington the report states that smal
portion Of the canal proper In Washington
which II was proposed to deprive the com
pany Of In order TO improve the harbor, hn
been rented for q, 800 per annum. and In I'D
dltlOn TO which Il secures to the canal trad
In gas coal Of ID, 600 tons for tho present ycal
the tolls upon which will make q revenue Q
ell, 900 per annum, or for the next % year
s:,75 600. The extension Of the canal west
presented, aud the many advantages Of thi
line over any other are shown, while tho nd
yantages OF the construction Of enly - mile
Of, canal would secure 10 Baltimore q laIg
slfhre Of the immense coal trade passing owe
tho canal. These, together with many othe
important statements aud facts, arc pr,
sented, and will doubtless attract, as the
should, very general attention. 10. .-...
The stockholders, after the reading Of III
report, reelected unanimously all the preser
board Of president and directors, except Ge'
3. Brown, who declined an election. and III
Hon. Patrick ,Hammill OF Garrett count,
was elected In his stead.