Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1873-07-11
The Chesapeake and Ohio Canal
port of the President.
he Baltimore Gazette


|
! The board Of directors Of the Chesapeake
and Ohio Canal Company met in their Office
here to-day, present Messrs. German, presi-
dent, Bannon, Bser, Meredith, G.. Watkins
and Hainill, full board, except james g,
Berrett, of Washington. Hon. Patrick Ham
i'll was sworn in office as a director this morn
| ing by Justice VIM. II. Gassaway. The other
members took the oath of office upon the last
monthly meetinnday. The president sub
mitted the following report:
! 10 tie Board Of Direcors- Gentlemen: !
have great satisfaction in reporting TO you
that the tonnage and revenue Of the Company
for the past month is largely in excess Of any
corresponding period, viz:
Revenue accrued from tolls June.
1873, was..............~.~~-." Ola &c
Revenue from rents and interest on
| deposits as.....".....""...."". $50 70
Making the total accrued revenue
for the month. ...-..................$6 SOS, 34o o5
| While the expenses for operating
| and maintaining the canal. in
Guiding the repair of dams Nos. ]
and q (Georgetown and Seneca,
were $50 30
Making the net revenue for the
month $40 2S9 &C
| The following comparative statement will
show the increase in the coal tonnage and re-
cepts from tolls, as compared with CORES
pondng periods of1s7l and 1872, viz:
Coal Tolls
Year. Tonnage. Accrued
| 87l...............l07,2 l1 tons. SEQ, 025 u
| S72.....-......,..,l04,2 96 +" 56.T6l 80
| 1873. " GS. 100 II
From which it viii be seen that the increas-
| ed coal tonnage rs compared with 1871 was
4, FOB tons, 1872 7,7ls tons, while the in
crease in revenue from tolls as compared with
1871 was So, 084, 1872 Sill, 347 80.
AS gratifying ns this large increase in the
trade and revenue Of the canal for the past
month is, you have every reason 10 expect
equally gratifying results during the remain
der of the season, as your canal is in an i'm
proved condition, well supplied with extra
lock gates and other material TO repair any or
binary accident, while the prism or water way
is greatly improved, as evidence of which
boats have passed from Cumberland to George
town during the past month laden with l3l
tons of freight the average tonnage of all
boats engaged in the coal trade exceeding liz
tons.
Not only is the canal in good condition, but
the question of freight, which in the early
part of the past month: ii was thought would
interrupt the trade, has been adjusted, all the
companies except one paying the same freight
as heretofore, viz s. IS to Georgetown, while
the NUMBER OF oOatS registered and engaged IN
the trade will accommodate during boating
season Of eight months one and a half million
Of tons.
The continued demand for coal and other
articles transported over your work must con-
tinue to increase its trade and revenue
Not only is the present and prospective trade
Of the canal fiattering. but the receipts from
tolls and rents from the first day of January
last to the 30th of Juue is in excess of that of
the corresponding period ofiast year, notwih-
standing all the delays and Interruptions TO
the business of the canal since The opening of
navigation, which, after appropriating $50, 9s5
in May last TO coupon account, and payment
Of current expenses, leaves balance in the
various repositories to the credit of the com
pany on its general account Of 1924, 1929 80,
which will enable you to appropriate SOL, e7o
to pay taco coupons on the 'preferred construc-
ton bonds,'i and leave a sufficient balance in
the treasury TO meet current expenses, while
the very large balance on hand on coupon ac-
count is sufficient for any contingency.
| therefore respectfully recommend that no.
lice be given that the coupons due July, 1857
and January, 1858, on the preferred construc-
ton bonds, will be paid upon presentation at
the banking house Of Alex. Brown Il Sons,
Baltimore, on and after the 18th inst
Resnectfully submitted