Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1878-03-29
Ball. : 0hIe J. ]. seslIenenl.

we Nave below IN 4N9&K@rt Qf AN& 1AtSh~
more and Ohio railroad compsomise bill
which hes passed BE House q Delegates
and unly waits lhs Governors approval
= beeoiue . Iaw:
The III provides fsr tie payment BY
shs road Il . 80. .o1l.2G. partly III bonds
and partly 10 cash, IN full ssillement q
the claims Of the ssass " 10 July iss a
this year. The basis oG the settlement
i ths splssiiaalisss ii ge ssx IS one 4lIAlI
of one per cent. upon The gross receipts
Of railroad Companies, provided for BY
the act Ot 1872, for the States ffth OF
the passenger fares over the Washing
ton Branch, the substitution to date from
July I, 1873. when the competition Of
the Baltimore and Potomac road be-
The passenger fares over the Wal.
ington Branch are the same as over the
Baltimore and Po.omac road, but the
State at present taxes the former twen.
ty per cent. aud the latter nothing at
at al on its passenger travel. The cal
culation by which the sum 10 be paid
by the Baltimore and Ohio road was de-
termined is as follows:
CapiiAtion tax due up to July 1, 10, sara 4ss 90
Passed dividends upoa The Wash.
ington Eranehnp 70 and including
that ef October !, 1877, l3T, 500 90
G
$sIs, s,95S, 81
Deduct the gold claim oFthe eonpa-
ny. - : .-- M s7as. .sss, 80
-
as Balanee, $e5G, $40 So
Ofthis amCunt $3.50, 900 is TO be paid
in sin per cent. coupon bonds running
ten years and bearing date July I, 1875,
interest falling due semi ANNUALLY. The
remainder S370.56) IS to be paid in cash. &.
The tax Of one balfof one per cent. Upon
the gross receipts Of the company from
the portion ofits lines and property With
10 the St;ie from July /, 1879, 10 janus
~ I, 1878, amounts TO S92, ,673.99. for
the main stem and So, ,S66.65 for the
Washington Branch. These amounts
are to be paid in cash previous 10 Msy
L, 1875 II will therefore be seen that
the total amount TO be paid in cash by
the company sgsr 'ga:es SlOO,Sll.2O,
and together with the bonds, makes the
total payment S466,9l1.20.
This amount - considerably greater
than that at first desired by the road
Its original proportions contemplated
ulpture nfr6faR Of interest upon the
ar,O0hts entering into The settlement.
This would have been greatly TO the
road advantage. as The interest ups n
the gold claim from February 8, 1862,
up to JuIy&. 1873, amounted TO Sl70.-
S67 .66, while interest upon the past due
amounts OF the capitation tax up 10 that
lime only amounted to S43, ,77S.G9, sO
hy the refusal OF the committee 10 al.
low interest, the payment to be made
by the road is increased nearly $780,
900. -.s
81 The tar Of one half Of one per cent.
upon tire gross receipts of the company
is to be accepted by the State in per-
petuity in lieu Of the capitatlon tax upon
the Washihgton Branch. The Court
of Appeals has recently confirmed the
excention from taxation Of The main
stem, and OF all the property held by
The company under The franchises con-
ferred By their original charter. The
company agrees TO waive this ex-
emption 10 the extent Of this tar Of one
half ol one per cent, but no further.
This agreement with the State OF
course in.no wise abridges the right OF
counties and cities 10 tax the property OF
the company lying within their limits
respectively, and moi exempt from tax
alton under the recent decision Of the
Court Of Appeals. The Washington
Branch, Metropolitan Branch. Deer
Park and Oakland Hotels, elevators.
steamship prc perty, and = large amount
Of securities held by the company are
taxable Tor county and municipal pur-
poses, the present bin relating solely TO
State taxation.
- The language fthe bill on this sub
iect.is that the Baltimore and Ohio rail-
road shall account for the gross receipts
from its main stem and branches with
"a the State, the metropolitan Branch.
the entire line OF the Washington Branch
(ircIuding the portion within the Dis
trict Of Columbia from all other sour
ces of revenue within The State OF
MARYLAND, and that nothing in the act
shall be soeonstrued as 20 interfere with
tkesright Of any city or county 10 tax
for local purposes any property OF The
company not exempt from taxation BY
the laws Of this State.
One Of the sections of>the bill redU-
ces the freight rates over the Baltimore
and Ohio road BpOn coal and HIneras
to "a cents peg ton per mlle for twenty
miles west from Cumberland; 10 ID
cents per ton per mile Tor any distance
over twenty miles snd up 10 twenty
eight miles. or from fhe distance from
Piedmont 10 the canal basin At CumbsT-
land; 20 / cents per ton per mile for
any distance over tWeniy-eight miles
west Of Cumberland over the Baltimore
and Ohio road or any Of SIS braches.
The, present charges Of the Baltimore
and Ohio road are three cents per ton
per mile and over upon shipments 10
Cumberland. The ton referred TO By
the act il ton ol2 900 ponnds, and the
rates estabIished do moi apply 10 either
the CumbeTland and Pennsylvania
road OF the PittsbuTgsnd ConBelIsyilie.
The effect Of the reduction will be Ia
give The canal an additional trade worth
upwards Of So. .000. per annum, and
will open up 20 the canal the coal mines
along ihe north branch OF the Potomac,
which will 3, give It large trade.