The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1881-04-23
The BALTIC. g. Delta Railroad.

The Hartford Deaoeraf Of last week says: "The
Directors Of the baltimore and Delta Railway
have secured money enough in connection with
the subscription payments to continue work on
the road until the middle Of June. BY this time
10 Is Estimated the grading aud large part Of the
masonry will be completed. They are now salts
fed that the new d. o. road, II built, will not
pass near the line Of their road, and as = eonse-
quence are preparing to take the field TO make a
vigorous canvass for the sale Of the bonds 10 the
friends Of the enterprise. That this Is q move In
the right direction there IL no good reason TO
doubt. The bonds can be sold TO other parties.
bat II Is deemed moro desirable that they should
be held by the stockholders, TO the end that there
should be clash Of interest betweea the holders
Of the different securities.
aside from the interest ne ail feel In the sue
cess Of our local enterprise, there should be no
hesitation 10 taking these bonds an investment.
They are free from taxation aud will be sold as
such rate rs will net the holders and a-haif
per cent, more than twice the interest paid by the
Government on its new loans. Capital 10 always
timid. and while there vas probability that our
little road would be overshadowed by the II. a o..
running along side over the top Of Il, investors
naturally held aioof; otherwise our bonds would
probably have been securely placed ere this aud
orders issued FOR rails aud rolling stock. Nov
that this danger has Substantially passed, there
should be no further delay.
"The rate Of interest IL all that reasonable men
can now expect, and the certainty Of payment IL
~ thoroughly assured as that Of any Investment
In an unfinished railroad can be. The managers
desire 10 have all the bonds taken soon as u IL
possible 20 satisfactorily place them, and begin
track laying az both ends Of theiine. 1tdoes not
however, seem 20 be the part Of wisdom 10 wait
until all the bonds are taken before the work on
the superstructure 10. commenced. The reasons
for this are obvious. Il will necessarily take
longer IL they are 10 be placed With many small
capitalists with limited means 10 sell all than part
| Of them, and tbis difference In time ought 10 be
saved, II possible both for the credit Of the road
and the convenience Of the people. The sale Of
the frst hundred thousand dollars' worth will
probably be the most difficult 10 effect, bot when
effected, II applied TO construction account At once
and on the Baltimore end of the road, Il will make
available large block Of conditional stock sub
scriptions and put In motion the between that
end and Towsontown. When runningthis Gar the
best eAculators say the net earnings will be more
than SUFFICIENT 10 pay the interest on the bonds
| sold. when this is demonstrated 10 . certainty
| the next hundred thousand, which win bring the
road 90 Belair, will be taken without delay, and
the remainder In like manner, when the road will
Be finished 10 the State line ~ rapidly as men and
and money can do u.
There are nov bat too conditions necessary "a
sueeess-pluek and energy on the part Of The
managers and open -handsdness on the part ofths
| friends Of the road.
ssThe previous history Of the enterprise leave,
doubt ef the intention and ability of the drsc.
tors. Considering what the people along the Linz
of the road have done, u II not reasonable 20 sup
pose that they viii permit their interest 20 Gag and
lose the time and money already expended uher
success 10 clearly within their gasp, and that tes
without any material risk or saerises On theil
part"