Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1878-02-15
Tnr OrHra srDr.--As we gave last


The OTHER SIpE.--As We gave last
week the statement Of the Smoot Di-
reesers d the scuthsrn MARYLAND Rail-
odd i the tnsiis no1 pending IN O.
Court bstween EN- apa certain Pl.il-
'elpI's parties DO. L vii BE rene
bsred. loOk elagke Of sbe work sboas )
year $40 under contract with Smoot and
engaged 10 complete il to tidewzter. We
feel called upon 70 LEI our readers hear
the other side and hrnce the replication
published below. The PhiIadelphians
siIege--
That when they took bold Of The
matter, q year ago, IL was represented
10 ITEM tlainearly 500, 600 dollars ksd
been expended ON the road, of which
2f63 600 was the STATES Subscription,
and tire baianre he'd been pasd by Col-
onel Smoot: that Smoot vas said 10 be
the owner Of the entire stock, except
she 4 $50 shares Subscribed iof BY tke
State OF MARYLAND: that the connpSny
owrd sbouf go, 900, end the creditors
were 81 willing TO settle on liberal
terms. Believing these end other state
msnts, and looking upon the enterprise
- good one, the Philsdeiphians agreed
20 orfsnize company and complete
The construction Of The road. They
made 1 contract with Colonel Smo0t,
agreeing 10 give him e7O0. 900 in stock
and bonds. for what was claimed 70 be
HE interest I'm the road, for which be
was TO assign all bis rights IN II. 80 f
isssfhe company, rs organized by the
PhiIadeiphia parties was c. J.. Hsrrsr,
president; jos. 8. Fisher, treasurer: Geo.
p. Eldndge secretary; B. EisLmuth,
VIM. r, iISadnef, A. W. Fellows, J. NJ.
Mover, Alex. Hickey. John NJ. Brown,
(of MaryIandl and Samuel s. Snicct.
directors. Theysay that the treasurer
c6uIa not get hold Of the books and
souehers fos several months. When
they we're produced 10 ID alleged they
showed that insseadLo Of about $500, 600
personal funds having been paid on the
road no money Of that kind had been
spent, and that one person was deb
tor for q good portion OF the money re-
ceived from the State, and that Smoot
did not own the stock.
They claimed to find that the sub
scription Of the State had been.procur-
ed through an incorrect representation
that $4So, 900 Of stock was subscribed
by individuals, and, that $27, 800 was
paid Is commissions to get the States
money. The debt was found 10 be
double $65 900, and the creditors ella
morous for settlement. Nearly $780,
600 of bonds had been issued, Of which
S350, 600 were disposed Of for person.
al purposes. at from r$25 10 $500 per
81 .O0ll, and scattered in Washington,
Philadelphia, New York, and New
Hampshire. The bonds had been haw ked
Tor what they would fetch, and were in
such low credit Us to be of no use as
collateral IN completing the road. The
creditors pressed for money and the
Philadelphians were unwilling to adj
vance any. They torfhese reasons re-
pudiated the contract, and would 90 no
further.
1.-The creditors have made application
for decree to sell the road, which was
before Judge Magruder, at Marlborough,
Prince Georges county, last week. and
rs held under adsisement. The Phila-
deiphians say they are moi trying TO take
advantage Of the State or The other cred
itors, They own the Point Lookout
property and want to see the road built,
but know that cannot be done un:h il
is relieved of the complications which
surround Il. Mortgage bonds TO the
amount Of 80, 200, 600 are said TO be
hanging over the road. while they say
5000, 900 would be sufficient for its pur-
poses. 1.-THE road is sold 20 the credi-
tors they are free to say the Philadel-
phia parties would be willing 10 take
hold ofthe enterprise when itHis put in
good shape al regards debts. &c. They
have not fled an answer TO the legal ac-
ton of Col. Smoot to force them to keep
The contract made witn him. =.
y ssak5oi tca roT Il