The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1880-02-07

region, or, 600 tons only being mined tnnre
and sent to market, while IN 1871 Ciearheld
mined and sent out 1874, 900 tons. In 1878
the receipts Of the Reading Railroad Company
for transportation Of coal was sa,OOO,OOOi
which was reduced in 1875 to $500, 600 and
ii 1877 il was 81, 900, 900, decrease ofnearly
S., OO0, 600 in the trade Of that company, and
Yet it Is alleged that the decrease in the price
we received for tonnage was owing TO poiill'
cal Encouragement. Now, Sir, | desire the
testimony Of these gentlemen who control the
mining interests OF Allegany, nearly all OF
whom reside in the North and | believe are
opposed to me politically, and Il these gentle
men say we have not managed the work WIN
a view TO the best interest OF the trade and
canal we are willing to suffer public censure.
They will, am sure, concur in the statement
that during 1871 the Maryland coal fields sut'
fered the severest season known in the history
of that industry, and the canal company en-
deaYored, in view Of this, by reducing the
tolls, to do all in its power to retain aud pro-
tect its trade. The act OF 1878, the passage
of which / advocated on this floor, was neces'
sary, but they charge il was detrimental 70
the interest Of the bondholders by placing the
canal in danger Of being sold in default OF
the payment OF interest 10 the great injury OF
the bondho.ders Of 1874. To fully understand
this part of the case we must look back to
1877, when our troubles commenced by the
labor strikes and the conflict with the Balh-
more and Ohio railroad, correspondence con.
corning which was submitted to this General
Assembly. When the Baltimore and Ono
railroad endeavored TO obtain an unfair pro-
portion Of the coal trade and it was decided
that we should aaiatain our trade at what
ever cost, and when, about the close OF the
season in November, 1877, the great Hood IN
the Potomac came and swept the canal from
Cumberland to Georgetown, leaving scarcely
one mile uninjurod, 1t found US with but a few
thousand dollars in the treasury and with no
credit anywhere in the country.
The president aud directors determined II
shonld he restored, but when we went to the
coal companies, who did business over the
line, they would not advance dollar, unless
we as individuals Endorsed and became re-.
sponsible, and every dollar OF the officers OF
the company was placed in jeopardy. We
then determined to come before the Leglsla'
ture as last resort and ask the State to waive
her lien 10 enable us to sell these bonds and
pat the work in condition TO produce 8 net
revenue in the future. Now, in procuring
that legislation, there was gentleman then
hanging around the halls Of legislation here.
| will name him-Mr John p. Poe, now one
of the counsel in this case in the interest OF
the bondholders knowing his familiarity
with this matter we employed him as coun'
| sci, to assist in preparing the bill and memo
rial TO the Legislature, stating the reasons fol
| the legislation desired. He Mr.. Poe drew
4 up that memorial, which will be found in the
| Senate documents of 1878.
Mr.. German here read from the memorial
| in which Mr.. Poe sets forth that the passag,
/ of the act Of 1878 was not question OF boz
/ rowing money to Increase the revenues Of tbs
company, but vital question Of raising
means to put the work in condition TO cart
any rerenHe whatever, and the practical resul
of the rejection Of the act would be either I,
compel the company TO sell its bonds at mos
disastrous rates or suffer the canal to 90 Il
decay aud ruin
Mr.. German theu continued :-This me
mortal, as stated, was drawn up by Mr.. Po,
and now, as counsel for the bOndholders, hI
attacks the validity of the bonds issued b,
reason Of it, This may be perfectly proies
sional-that do not know-but such as ar,
net Of the profession and take an honest vieV
Of matters would hardly indorse the atiorne,
OF the canal company who drew this act as
principal mover in the attack upon its valid
ity. 1t may be asked, il the present manage
ment have paid 10 the beudholders more thai
they received for twenty years previously
Why this attack My impression is that
will appear upon investigation that there !
yet another-not yet made public-reason 70
1t. These gentlemen, who now attempt 1
get possession Of this work, in 1867, by mis-
representing the management of the cana
and by other means, induced the General Al
semby to pass an act placing the canal Il
their hands; mean Messrs. Poe and John
son, but when il came to the annual meetin
Of the Board Of Public Works, Gov. Swami
Treasurer Fowler and Comptroller Leonard
or Jump, forget which, they refused /
transfer MArylaud's work to a few creditor
and declined to execute the law. Your con
stitutional convention shortly afterward me
and, what ] suppose WAS never done before
inserted provision repeating this very &C
and thus these gentlemen were foiled in thel
attempt to take the work in which you have s
many millions. They then contracted wit
Virginia TO represent her interest and secure
from the canal company large sum c
money, which they claimed to be due hei
( They come again TO the Legislature and as
the passage of an act 10 make the State
party TO the suit instituted by Virginia an
Mr.. Corcoran. But the cause Of this sui
against the canal may be found in a case pend
| ing elsewhere.
Mr.. German then stated that the Msssr.
Poe and johnson bad been employed by III
State Of Virginia to prosecute her claim
against the canal company and having don
so they had by their contract, which was
matter Of public record, claimed and retaine
illegal fees amounting TO over S227 900; thu
, the State Of Virginia had since brought su
, against these gentlemen to recover Sl60, 90
, OF the amount retained as funds on the groun
as claimed by the attorney general Of Virgin
that they had not properly settled their a,
! count with the State and had not compile
with their contract TO place the canal in III
hands Of receiver. Mr.. German conclude
. by asking a reference of the matter to III
joint committee Of the Legislature under sec
ton 3, article -, of the constitution.