Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1877-02-01
The Baliimnre & Ohio Railroad.

The following account, from the Bal
timore Anericcm of a met ting Of ths
Directors of the Baltimore & Obi.
r. R., held some days ago, will be reac
with interest, on account of its refer
ence to the enlarged facilities that Mr.
Garrett is about to acquire for com
manding the trade of the West:
The meeting of the Board of Direc
tors of the Baltimore & Ohio Railroad
held on Wednesday, st Camden Sta
ton, Mr.. John w. Garrett, the Presi
dent of the road, in the chair, was enc
of the most important and interesting
that has taken place for long time
1t was stated by Mr.. Garrett that the
present prospect of the advancement o
the road in the near future was NOR.
positive and fraught with encourage
ment than at any previous time in it,
history; and, consequently, it was rea.
sonable to anticipate the rapid nd.
vancement of the business interests ol
the city OF Baltimore. The legitimate
share Of this port in the general com.
mercial traffic would receive such ac.
acknowledgement as has heretofore been
denied, by reason of the extravagant
claims of other large cities to mOnop-
oily OF certain branches of trade. The
probable effect of the withdrawal oi
certain influences go long smanating
from railway dipl0lnatist now passed
away-with all due respect be it spo-
ken--frOm the turmoil of an unusually
busy life, was also referred to.
1t was shown during the meeting
that at the present time the New York
Central Railroad haze fully .fue thou
sand loaded cGrs aa0ditiHg nlOUener}t
tohich is retarded by the deficiency of
motive pO,cer, and it was asserted thu I.
as result of ruinous competitive poll.
cy the New York Central 70 d have
now six hundred in hospital await.
ing repairs and other wise. In con-
tra5t with this, notw outstanding the
many disadvantages and whacks
endured, it WIS shown that through
out the period OF Improbable freie hi
rates the Baltimore l. Ohio Railroad
had been managed with such economy
and prudence that besides having SUI
fered no financial loss, it was in a con.
dition to advance to even more exten-
ded fields of enterprise than in the
past.
The reports from all quarters indi-
cate totally unpre' eiented demand
for means of transporting grain and
four to Baltimore, and in consequence
an increase in the qnOta of freight cars
was not only desirable, but essentially
necessary. 1t Was stated that ope hun.
dred per cent advance on the regular
freight rates was Fl ring every day by
anxious shippers. Accordingly it was
ordered that three hundred new grain
9 irs ut the most improved pattern
should be constructed, the work to
at once.
1t was also determined to enlarge
and extend the railroad plant and
accordingly it was resolved that the
,fficers of the Company be empowered
20 negotiate loan in England of s1,-
700, 900, equivalent to eight million OF
iOllars, ON the Chicago division of the
Baltimore u Ohio Railroad.
The Baltimore & Ohio Railroad Com-
,any has u great number of poor rela.
ions, such as the Marietta and Gin.
innati road, which, while essential to
t, are not self-suprOrting, and hence
ave to be given no little support. But
more important to stock holders, II
vas highly probable that If this meas.
re was cOnsummated, q handsome
ividend would be declared at an early
ate. The loan, II was laimed, could
Q negotiated without difficulty in ,
,ngland at 8 per cent, and thus In
sality no actual indebtednese would
g created. 1t was only ways and i
leans PROJECT that could not be other
'ise than beneficial.
The way in which the loan will be ID
Is not known, and so mort
age bonds may or may not be issued. I