The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1875-03-06

Condition Of the Northern Central
RQilscQu COuaDdNU.


The railroad conflict absorbs much Of public
interest in this portion of the world Large sales
Of tickets TO points in the West have been made
By the Baltimore and Ohio Company in coase-
quence Of reduced rates of fare. 1t is the opinion
Of most folks that the fight cannot be continued
much longer, while everybody is Of the opinion
that the public cannot fail to be benefited by the
ierceness Of the conflict.
In the midst of this war comes the report of
Col. Thos. A. Scott, President of the Northern
Central road, to the stockholders in a very graft
flying shape. II shows that the revenues of the
road from all sources for the year ending Decem-
Der, 1874, aggregated $4,676, 5OO.45, and that
the total expenses for the same period were So
3s3, $685., thus leaving the net earnings of the
road ST., 292, 9465o There was decrease of
1854, s65. l5-7 per cent.-in the receipts and a
decrease Of $685., 1891. S0-1o 3-lO per cent.-in
the running expenses. This shows an increase
in the net earnings of $33,ol6.15. $500 of
the expenses was incurred for the purchase of steel
rails. 1t is plain to be seen that there is another
road besides the Baltimore and Ohio that is run
in the interest Of the stockholders. The disci-
pIine that decreases the current expenses more
than the current revenues are decreased by the
depression Of trade is eommendable and speaks
we'll for those who enforceit. 1t is just what is
nesdee in ,nese times Of scarcity of laber and
dearth Of money and business.
The total number of passengers carried by the
road during the year was l,347, DOL, which was
an increase Of l66,679 over 1873 COL Scott's
report demonstrates that the company is in good
hands and that there is more than one road that
can do something for Baltimore city, the State
and the nation. Among the most important
features of the report for Maryland folks is the
contemplation of ample terminal facilities at the
port of Baltimore. Upon this topic it states that
recognizing the importance of providing ade-
quate facilities for the traffic of the road the
Board of Directors has given careful eonsidera-
ton to the subject and has decided that certain
improvements should be Immediately commenced
and pushed to completion as rapidly as possible
in order to make them available during the latter
part of the current year." These Improve
ments' are to consist of grain elevator at Can
ton, with sidings, to cost $275, 900; coal wharf
at Canton, to cost $125, 900; warehouse for
rolling freight at Canton, to cost SIS, 600; real
estate and improvements for city traffic, to cost
$125, 900 new building for general office, to cost
$50, 600; completion of car shops at Mt. Vernon,
cost $40, 900. This makes an aggregate of $780,
900 that the company proposes to spend for i'm
provemsnts for the trade of Baltimore city during
the current year. In order to put into execution
these plans it will be necessary to raise funds
To do this authority is asked from the stock
holders ito sell one million dollars worth Of the
reserved consolidated general mortgage bonds,
and also to give the Board further authority to
sell the real estate not required for railway pur-
poses and so many of the assets of the company
as in the judgment of the Board can be sold with
out detriment to the interest of the shareholders.
This course will enable the company during the
year to pay off its floating debt and will place it
in a condition to meet promptly all its liabilities
and to purchase its supplies and materials on a
cash basis"
III OiOOA " put thVSO PAOPOSitAOno AZ uiOtAOh
the stockholders passed series of four resolutions
by operation of which the President and Board
of Directors authorized to dispose of, in their
discretion, any of the real personal property Of
the company at either public or private sale, and
they are further authorized to sell and transfer
such stock of other companies, now in their pos
session. as in their judgment may be sold with
out detriment to the future interests of the COM
pany, and they are also given power to issue a
million dollars worth of the consolidated general
mortgage bonds. The funds raised from these
means are directed to be used in the construction
of the terminal facilities at Canton and the pay
ment of the existing floating debt of the company.
These things are cheering to us. We welcome
these new enterprises with grateful acknowledge
ments and wish that we had one or two more
Col. Scots.