The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-11
BALTIMORE AND OHIO RAILROAD.

MONTHLY MEETING OF THE DmEcroRs-PREsr-
DENT GARRETT EXPLAINS THE MATERIAL AND
FINANCIAL. CONDITION OF THE COMPANY.
BALTIMORE, Nd, June 10, 1875
The following portions or the address or Presi-
dent Garrett at the regular monthly meeting OF
the directors of the Baltimore ana Ohio Railroad
yesterday treat OF the revenues and policy OF the
road
THE PRESIDENTS ADDRESS.
There Is no subject gentlemen Of more interest to
slang that the result for the mouth has again
Tr e 'as m n Tor tsst Sa weTe
the earnings Tor the past month weTs ss9ai ~
ing the increase derived from the chicago division o.
revenue beyond tsat gala Perhaps the most remarka
pie feature Y this report + IN CONNECTION with the
mouth the Baltimore and Potomac road reduced us
ington and to seventy i've cents Tor the round trip
The baltimore and Ohio Company decided not
. single ticket and 81 tor the round trip.
gers on the Washington branch tor the month is only
ss 8 as compared With May ISL. rms Is most graf.
superiority Of the Baltimore ana Ohio road and Us
seeden: er 50 many years Unless the BOARD DECIDES
70 change that aeoa those rates VIII be MAINTAINED
aton Of those chsrse: Is shown BY the charge
/ exercises monopoly eontro-vlz, over
mense travel between fRilsSelphia and New YORK,
VIZ for ninety miles, So IS per passenger. his rate
Tor fory.two miles over their Baltimore and Potomac
aen aeeompaaed BY number OF olcers has made
u inspection Of our own lines and works rom Balti
Under the policy adopted the company has not ceased
TO make extensive preparations tor an Increased bust
The address then notices the vast improvements
already constructed and being made on the va
rious divisions OF the road In third and fourth
tracks where desirable, as at the Piedmont d.
vision; engine houses, shops and other improve
ments on the Lake Erie, Central Ohio and Chicago
divisions, necessary for the immense business ex-
pected from the Chicago extension and coffee
warehouses and wharves at Locust Point sug-
gested by New YORK and Baltimore merchants TO
accommodate the Rio trade, 10 be rapidly aug.
mented By the new line OF steamships between
Rle and Baltimore, established by English capt
Mr.. Garrett coatinues:-
our revenues show that rotwiths nding the general
depression ~ business with the unpreccdentcdy low
ported our tonnage has been larger than ever hereto
SbI. nmnoed ~ a NJ .e tncre,ore
portion its through business b able continue ~
its large number employees whose paw IL 81 course
plies, sc, and thus these large and regular osbursc
inents have maintained upon nnes an exceptional
It's proper call attention 10 the fact in connection
nature. Building materials and timber many de.
arc od Gg b not on on out nss
usns.ohlo lines an uhio, indiana an Illinois. Tho
tween points N oar asern aud Western lines the oil
trade, increased Development ~ agriculture throughout
standing the extraordinary protracnon of business
generally, these wonderful results IN revenue IN
especially the hoscs which the company has been
compelled 70 meet aud the gnIemuucraiing prices
the President great plea IRE 70 STATE that the manage
ment ~ the company appears e nave attracted iha
gooi feeling ami appreciation ~ the numerous comnu-
mites upon our lines Intercourse With leading CITIZENS
nj various points sgowcd almost universal confidence
resgsc avg g"pd VIII and ~ q the efforts
through which its road passes this friendly feeling
were visited Very extraordinary statements have been
IT, e,cs upon the company. remarkable and intense
81 ~ crest has been suddenly manicsfcd by
ton 81 the baltimore and ONO CONT any. II NAV be
question both taste AMI Judgment whether those
witch compare With he Raltimarr ana n" POM
pany may, t. ,c thu most gcntic form Of expression
10 the relative financial strength d tie Bai,i.
For week pas large partoi inc DRESS q New YORK
and other ciitcs has teemcd with statements the
osn. r IN" c n2s losing E sfgs
paper unsaahle that much $4,000 was
ey dsperae mo Be 3d condition ' :" tb ~ ,oS Mso
found n necessary - resort q sucn course Fnlse
~ ,rusi II "i,ri"d MA lsice ulImafey S.n
q much comment sketch OF its hnancal policy may
rns rtN,sciAL coSDrIov
SOW gentlemen, what Is the financial position Of the
Baltimore and ONO Railroad. the subject % much
tender Olictude the par Of representatives OF
lines AMI ~ other ciiieS THIS company tOunl al the
cinnat aud ritshuig aud ronneisvie roads hat large
neanf a se fe n sre r yry n ionnse
CITY ~ Baltimore especially has deep interest because
rrtilens Ia great centres ~ trade Ihe Raiti.
and OHIO Company found tho Marietta
deemed 4 proper 4, oan III bonds All sccnr,es ~ ,bat
company 70 all 4 in meeting "a ohiiaainns and urn.