The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1883-12-21
Meeting of Stockholders of the Mary
land Central IL. X.

In response to an invitation by printed
circular about fifty of the holders of original
stock of the Maryland Central Railroad
meet at the Carrollton Hotel, Baltimore, last
Friday, Reporters were excluded, but the
Baltimore Sun gives the following account
of it:
The meeting of stockholders of the MARYLAND
Central Railroad Company, which was held at
the Carrolton hotel on Friday, was authorized
by one held few weeks ago, with Mr.. Philip
L. George, President Messrs 8. Parker Bosley
and Il. g. Price were then appointed a com
mittee to ascertain to whom stock of the com
pany lad been issued, the amount paid for IT,
and the disposition of the money; also to in,
quire into the sale of the bonds 1t was report
ed to the meeting on last Friday that President
Waters produced the books, but that Vice Pre-,
dent Gilmor objected to their examination by
the committee. Mr.. Gilmor asked the com
mittee to make their request in writing to the
executive committee They did So and receiy-
ed written reply that an expert would be an
pointed to examine the books and supply the
information asked for. The Carrollton hotel
meeting, at which 1,l40 shares of stock were
represented, appointed another committee of
five, of which Mr.. Bradford is chairman. This
committee will demand the books, and if they
are refused will begin legal proceedings Some
OF the stock holders asserted that IN their opin-
ion, the stock has been watered; that some per
sons have received stock without giving an
equivalent for it, etc. The ostensible object of
the Carrollton Hotel meeting was to endeavor
TO secure such management of the compapy's
affairs as would make the stock subscriptions
worth something eventually. They believed
That with judicious management the floating in
debtcdness and the interest on the bonds can he
paid every year, leaving surplus to gradually
take up the bonds. While all the stockholders
present favored an examination of the books,
some were opposed to change of management
at the annual meeting in January.
President Waters, upon being asked for
information in reference to the meeting said
he knew nothing whatever about its objects.
The management, he said, had labored earn.
estly tor the promotion of the enterprise and
that an examination of the books by an un.
interested expert had shown them to be cor
rect to half a cent The second mortgage
bonds, he said, of which 100000 were au-
thorized to be issued, had been hypothecated
for $4,000, the money being loaned by cap
italists of Baltimore who are interested in
the success of the road. This was the very
best that could be done with them, as they
could not be sold This money must be paid
by July 1, 1884. With the completion of the
road to Delta he had no doubt its earnings,
which are already large, would be further in
creased and the profits would be sufficient
to keep up the road, pay the interest on the
first mortgage bonds and release the second
mortgage bonds. The latter could then
be sold at par, he thought.
The action of the York and
Peach Bottom Railroad Company in re-
fusing to enter into an agreement for through
rates, he hoped would be reconsidered. If
itwere not the Maryland Central would be
compelled to build branch road from Pyes-
vile to Peach Bottom, or from Bel Air
through the valley of Deer Creek to the Sus-
quehanna. He thought the people on either
route as well as friends of the road elsewhere
would be willing 10 assist.