National Republican. (Washington City (D.C.)) 1872-1888, 1881-05-25
THE CANAL COMPANY.
BoNDAoLDERs TALK OVER AFFAIRS,
And Agree to an Important Scheme, In Order to
Compete with the r. & o. Company
Statement About the Georges
Greek Controversy.

A meeting of the bondholders Of the
Chesapeake and Ohio Canal Company was held at
the Arlington yesterday. at eleven o'clock, to con-
slider the ACCESSIBILITY of issuing new series of
| improvement bonds for the frightening of the
| locks on that canal. There were present Presi-
J dent German, of the canal company; Henry
| Loveridge, president of the Georges Creek Rail-
road: Hon. Barnes Compton, of the board of pub
lie works of Maryland; A. Ross Ray, W. W. Corco-
ran, Gardner P. Lloyd, president of the American
| Coal Company; James Boice, president of the
Franklin Coal Company; General Bradley T..
Johnson, Bernard Carter, and G. H. Williams,
of Baltimore; Joseph Bryan and John W. Burke, of
Virginia, with some twenty more of the bondhold-
erS of the canal. The meeting called to order
by President German, who briefly stated its object
and then read his report embodying the recon-
mendations in regard to the frightening of the
locks and the methods suggested by the board Of
directors for meeting the extraordinary expendi-
ture involved. The report, after giving history
OF the operations of the canal and competing routes
since 1880. declares that unless the managers Of
the canal shall pursue the same policy of improy
ing its work and decreasing the cost of transporta
ton, as has been the policy of
ITS GREAT RIVAL,
the Baltimore and Ohio Railroad Company the
effect must be to deprive the canal of all trade
1t is then recommended that the serenity locks
between Georgetown and Cumberland be SO
heightened and improved that two canal boats
coupled together can be passed through these
locks q one tine, or that at least thirty three
;ecks, selected so to 165 miles of the 1S4
miles of canal shall be so improved as to admit of
the of double boats coupled together the locks
remaining unimproved to be left in groups, SO as
to afford the greatest distance possible for
the use of the double boats; that
an improvement to this extent would reduce
the cost of moving gross ton of coal from Cum
berland to Washington to S1.25, against 81 81,
the present charge of the Baltimore and Ohio
Railroad on coal per ton from Cumberland to Lo-
Gust Point. The report also calls attention to the
vital importance OF securing to all roads con-
structed from the coal fields TO Cumberland the
right to connect with the canal at Cumberland,
prominent among these being
THE GEORGES CREEK ROAD,
whose rights TO such a connection are at present
antagonized by the Baltimore and Ohio Company.
In conclusion, the report states that in the judg
ment of the president and directors the only way
to raise the funds necessary for the projected i'm
proyements is by the sale of repair bonds to the
extent of 100000 to be issued under Maryland act
of 1878, in favor of which bonds the State of Mary
land has 10 the extent of $4,000 waived her
liens on the corpus of the work. At the con-
clusion of the reading of the report. General
Bradley T johnson took the floor against
the proposition to issue these repair bonds,
urging that it would be best to go to the Maryland
Legislature and secure authority for issuing new
bonds substitute in this direction moved by
him was voted down, after which McssrS. Wells,
Browne, Cheney, and others addressed the meet
ing in favor of the recommendations of the re-
port. 1t was finally decided to appoint u commit
tee of five bondhOlders, who should attend the
meeting of the stockholders of the canal COM
pany al Annapolis next month and urge the adop-
ton of the proposition to issue
HALF MILLION DOLLARS IN REPAIR BONDS.
On this committee were appointed General
Bradley I. johnson, Messrs Bernard Carter, Joseph
Bryan, George II. Williams and John W. Burke.
The matter of the connection of the Georges Creek
Railroad with the canal at Cumberland was then
taken up, and President Loveridge stated at length
the present condition of things and the great in
crease in the tonnage of the canal that would fol-
low the opening up of this new feeder which af-
fors the only opposition to the present monopoly of
the Baltimore and Ohio Railroad. general inter
change of views followed, in which it was evident
that the representatives of the canal company
were fully impressed with the Importance of Sis
tanning the Georges Creek Company in its struggle
for a connection with the waters ofthe canal. At
three p. m, after session of four hours the meet
ing adjourned.
THE BALTIMORE AND OHIO COMPANY OBSTINATE.
In regard TO the Georges Greek Companys con-
test with the Baltimore and Ohio Railroad it is
understood that a reply will be made by that COM
pany to the board ofpublic works of Maryland in
few days refusing to accede to the proposition
embodied in their recent order regarding the con-
nection at Cumberland. In the event that no
modification of this order is made by the board it
is stated that the canal company will, in eOnjunc
ton with the Georges Creek road enter into legal
proceedings to enforce the rights of the canal
company under the contracts entered into between
the State of Maryland, the Chesapeake and Ohio
Canal Company, and the Baltimore and Ohio Rail
road Company in 1851 and 1873.