The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-02-05
A $50. 900 Check Not lIonored.

A $4,000 Check Not iIOnOred.
DOUBTS Az TO TIE BONA FIDE PURCHASE or
THE WASHINGTON AND ONO RAILROAD BY
THE BALTIMORE, CINCINNATI AND WESTERN
EAlLROAD-wHAT DOES IT MEAN?
The Alexandria Gazette of the Sd says {:
The announcement in the Gazette that
the 300, 900 check given by the Baltimore,
Cincinnati and Western railroad, the pur-
chaser Of the Washington and Ohio rail-
road, was not honored when presented to
the New York bank, upon which il was
drawn, Yesterday created no little surprise
i'm this city. There was little else talked
about last night and to-day among business
peoulc, and the criticisms upon the COM
panv giving the cheek have not been at all
favorable. The delay in giving the check,
"a required by the terms OF sale last
TUESDAY, brought out good many I'M
favorable comments. Mr.. Adams, of
New York, bidder for the road, declared
publicly, and with some warmth, that he
was there with the money TO put up
when he made his first bid, and all
other bidders ought 10 have been similarly
prepared. Mr.. Oliver AmeS, OF Boston,
who was present with 5000 cash in his
pocket. doubted the genuineness OF the
sale. when he said TO Mr.. Oalsman. OF New
York, who bid for him S59l 900, "if this
is genuine sale at $4,000 i am happy"
Other prominent bidders, VINO expressed
their surprise ut the purchaser not coming
ND promptly with the $4,000, said they
thought they came to Alexandria 10 bid
against responsible parties; that the COM
missioners Of sale should have required
the parties to put up the $4,000
upon making their first bid. The
check. which was drawn on the Market
Bank of New York, and signed by +. H..
Hayt, treasurerof the Baltimore, Cincinnati
and Western Railroad Company, was pre-
scented to the bank yesterday morning,
when il was found there was no money on
deposit to the check Of the company TO
meet il. After waiting until 3 O'Clock in
the afternoon the check was protested, and
placed in the hands OF a notary public.
The company, although dishOnored. had
the privilege Of meeting its obligation
TODAY, but up TO O'Clock no intination
had been received by the First National
Bank in this city, which forwarded the
check. from the Market Bank, that
the $4,000 had been paid, and it
is asserted by many who ought 10
know that the money will not be paid, and
that the road will have TO lie rcsold, and
resold, too, ut a sacrifice. Some say that at
the next sale, which, ii il takes place at all,
will not be inside Of ninety days, the road
will not bring within 100000 Of the $751;
coo offered for il 10y Mr.. Oliver Ames, OF
Massachusetts,. Others say it will not
bring the 100000 offered for it by Mr..
Oakman, who represented the McCOmb in
terest. Some businessmen say the com
missOners ought not 70 allow the pur-
chasing ROAD, even II II raises the $50, 900,
to take the Washington and Ohio rond on
the ground that a company which allows
IFS first check TO be dishOnOTed will not be
likely to meet the future payments.
However, assurances have been received
at Alexandria from New York that the
$4,000 check deposited as cash payment
on the Washington and Ohio railroad pur-
chase viii be paid tomorrow. The check
was drawn on January 3lSt by Mr.. Hayt,
Of the Baltimore, Cincinnati and Western
Railroad Company, upon the Market Ma
tional Bank of New York city, and sent
there for collection by the First National
Bank OF Alexandria. As payment was not
made. the check was placed in the hands OF
notary public. In the event OF Il resale,
il is said the Ames-McC Comb interest would
purchase the road.
The Baltimore, Cincinnati and Western
Railroad Company propose to build line
OF railroad from Washington t. Cincinnati,
and with that object in view has had for
several months past engineers in Maryland
surveying a route. Some Of these en-
gineers. among whom are several from this
city, have not received their pay for two
months. The work Of making a survey in
Maryland has been stopped OH account. it
is said, of the bad weather, and MeSsrs.
Robert Lee, VIII. Proctor, George Monroe.
and others, who are in the employ Of the
company, have returned to their homes, in
this city. All these gentlemen say the
company is a solid one, and that the failure
to pay the last months salaries is nothing
unusual. When the next months salary is
due they expect TO be paid up in full. The
failure Of the company to meet the check
has revived all the damaging reports here
tofore circulated about it, and which its Of
hcefs were so prompt to contradict.