Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1873-06-19

# Washington TO Point LooLs0tf, MI
it is made to appear Tint this fourishink
Company has or ought to have q TIL
present ,cri'iag balance IN cash. -of<t
payment IF az cost Of grading 80 miles q
road. of (S4l3. oOo) four hundred ar
thirteen thousand dollars.
1t has received into its treas
ury from its stockholders the ar
sum Of (see sta,ement.) $500. on
It has received from State Of
!. Maryland or its subscription
of'SiG3 900. not less than So. 600
S563. 600
and has disbnrsed Git is presumcd) for
cost Of so miles Of grading road. at the
rate of $4,000 per mile. $3.50. 0O0) one
hundred and fifty thousand dollars. which
leaves a balance. as above stated, OF Si13,-
600, available for ties and iron rails -
With this large balance at their disposal,
it is difficult, to account for the alnos. to-
tai cessation Of work on the line from Bran
DIVINE to Mrchanicsville. Where and
what are the obstacles that intcrpose .
Al. Messrs. Editors. though few they are
grave and persistent.
In order to understand their nature and
magnitude. invite you hcarkcn to n PHI
grim Of the S. MI Line while he dashes
of an account Of constructive visit to
City Of New York. made lately in comra-
ny with the President Of the S. NJ. II. II.
Co. "h IS al Int DEAN at Tie lest"
but we have Ilomeric authority for saying
that dreams come from God"
Well. We reached temple of mammon
its high priest-a millionaire. Capt.
tali-t rises as We enter its precincts anl as
surcs US that he is delighted at the honor
conferred, ana asks in blandeSt manner
Capiiali>t-Can We 10 any thing for
you to-day in our line u!
Southern Nj. Company--A great deal
] if you are so inclined.
Capitali>t--Nothing will give me great
er pleasure | assure you
Southern Ml.-Our bonds 6. MI.
per ct } have been IN your possession near.
IL Il months.
Cani'ai>t-Thcy have been. are still,
and are likely. fear. to remain so.
Southern VI l.-What. Have vou re-
ccivcd no offer for them Have you made
no sales? What is their market value Z!
Cnpi,alist-I have not been able to dis
pos. Of them or any portion ofthcm-mar-
kct value. indeed
Southern M-Why not' What is the
matter? 4 gold bearing per CT bond
! of : Nd. Co. ought to command from ! )
! (GS0 ccuts in the dollar
Cap-Thcre is great deal the matter
! nj ~ -. -------~ni anv such price
doubt il they will bring IS cc,ts. nur I'd
say so cents. on the dollar.
s M-You alarm mc-what is the
difficulty?
Cap-I viii tell you. This is one Of
your bonds for $1,000, being one Of Sc
rics Of two thousand two hundred for
81. 900 each issued by your Company FL
purpose Of building railroad from Citg
of Washington. tie Capital Of L. s., 70
Point Lookout in Maryland
s. NIL perceive. You are quite
correct.
Cap-ITavc you charter from State OF
MARYLAND to build road from Ciy o,
Washington. the Capital of L. s. to any
point in Maryland! And is there any
clause therein giving you the rirh. and
power to issue bonds. or to build such
road BY any funds. other than those tina,
may be paid in by your stockholders ON
! their respective shares?
5 N-Most assurcjly we have. Here
is 4 cory. Sec-rcad and believe.
Cap-l sce-I reai-but do not believe.
Ills charter or copy in its FIRST section
reads thus
Sec. !. BE ii enacted. &c. That corno-a-
'oa Is hereby created and chartered hy nam,
Of Southern Maryland Railroad Company for
purpose o. constructing railroad from some
point III Prince George county 10 Point Look
OUT
Pray tell me- l. the CITY of Wash
in-tOu situated in Prince Georges eoua-
g'
5. M-Why. no. not at present. B.,
il ough, to be aud will be if ever the State
Of Maryland should get back her own
again.
Cap-Wcll. We will no, argue that point.
But tie variance between your charter
and your bond is manifest aud slariny.
The bond is given to construct road from
City of Washington. etc The charter
u granted TO construct road from some
point IN I'riHce Georges county to Poin.
Lookout. Maryland. Such variance is an
ugly feature, and may prove fatal to any
disposal Of ther Cyour bond>). |, is an
inhrn.iiy no; easily removed or explained
away.
; M-S;range that such evil consc-
quenc should Tot have been guarded
against. How unaccOun,ablc-how stu
rid III some one to dig such pit for Us.
CaG-This Is not ,hc only unpleasant