Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-06-04
- -v-s-is-s 500
TIE CHESAPEAKE &, OHIO CA SAL.
Debate on Reducing the TOlls-Presi-
dent smiths IsepOrt-SaIaries He.
duced.

The annual meeting of the stockholders of
the Chesapeake and Ohio canal company was
held Monday in the executive chamber at An
napolls. President Smith read his annual re-
port. but the election of president and direc-
tors was postponed until next December by the
board of public works. who cast the vote of
the state. which controls
The board of public works-Gov McLane
CGntrolier Turner and Treasurer Compton-at
10 a. m. held meeting i'm the governors room,
where thew heard the Allegany county delega-
ton, who were appointed at the democratic
county convention to go to Annapolis and ask
Tor the reduction OF canal tools to % cents from
80 cents ton. This committee included Hon.
VIM. Walsh. Henry Loyeridge. president of the
Maryland coal company; Frederick Mertens, r.
ID. Johnson. David Lynn and J. w. Thomas.
Mr.. j. W. Thomas opened the argument for
the Allc@any delegation He claimed that if
the canal Is put upon business basis it can. at
- cents ton tolls. be made to earn expenses
and make money enough besides to pay interest
on It's bonded debt. He argued that the canal
can get 500. 900 tons OF coal to carry at those
h2ures, which would bring in $500 000. Water
and house rents have since 1860 averaged about
S2o.OOO, boat charges 10000, back or up tolls
Tor frelghts a5,GOO-makng the total receipts
e23o,O0O. He then discussed reduction in the
numbers of employees and their salaries He
said that along the line of the canal merchants
are breaking up and people are starving.
speeches to the same effect were made by
Messrs. LOveridge and Walsh. In his reply
Gov. McLane said the board would do what it
could to help the petitioners
AT noon the meeting of the stockholders was
held. and President Smith presented q report
showing revenues for the year. 1929. 527O7; ex-
pendtureS for operating canal pay of officers
operating basin wharf. outlet lock dc S245 053. AZ
revenue over working expenses. SS4. Ala. go; law
expenses. S16l.50; payments ON basin wharf
Go. IoO' to interest on notes of basin wharf, tenn
porary loans and coupons of repair bonds,
Sl1 1898: revenue over all debts other than
for lengthening locks SOS 562. IL.
Tine report, which is exhaustive SAYS TN con-
clusion: when the heavy expenditures made
during the year for extraordinary repairs and
permanent improvements are considered. the
management will be pardOned in pointing with
pride to the fact that the net revenue for the
year was sufficient to discharge all these obliga-
lions and leave surplus of SIS, 562. "a"
After some desultory talk it was decided to
go into election Tor president and board of di-
rectOrS.
The members Ofthe board of works then re-
tired to consult. and upon their return Governor
McLane said the state would vote for post
ponement of the election, and the roll being
called the state, the United States the city of
Washington, and the private stockholders all
voted to postpone.
Inc following resolution was then adopted
'.ResotUed That the salary of the president be
5000 per annum, and that Ofthe directors $500,
from and after the lst of July. 1884, and that
the board Of directors be requested to reduce
the salaries of all other officers ten per cent and
to make such reduction of officers and employees
as may be possible. consistent with an efficient
administration of the canal, and that this meet.
ing stands adjourned until the first Monday of
December 1881
The stockholders meeting then adjourned
without further discussion.