Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1885-02-06
The Bituminous Coal Pool.

/ The bituminous coal pool has been finally
arranged between the Baltimore and Ohio
and Pennsylvania Railroad Companies, the
outlines of which have been already stated,
and will go into effect on March 49, Vice
President King and General Freight Agent
Harriet, of the Baltimore and Ohio, were in
Philadelphia on Friday, Mr.. Harriet being
closeted most of the day with the Pennsyl-
vania officials, and finally settled all the de-
tails of the pool between the two roads as to
bituminous coal. The freight on Cumber-
land coal from the mines TO Locust Point
will be $1.75 per ton, but it is understood
that on all coal shipped north of the capes
Of Delaware there will be forty-cent
drawback, thus making the actual freights
on Eastern coal $1.35 per ton, making the
coal on board vessels cost $2.25 per ton
The coal for Norfolk and the South will
stand $3.50 per ton. The low rates agreed
upon between the two companies are likely
to have important bearing upon the action
of the President and Directors of the Chesa.
peake and Ohio Canal, who have as yet not
fixed their rate of tolls for the coming season.
1t is generally estimated that the canal can
not be run for much less than $150,000 per
annum, making only a fair allowance for
breaks, floods, &c, during the year. At pres
ent there is an Indebtedness of 100000
This money is due the laborers and mer-
chants along the line, who have been hold
ing canal promises TO pay for the past ten Oh
thirteen months. The policy of the present
administration has been very active and
pushing one from the start, the President
and Paymaster Gambrll having already had
several conferences with the New York Goa
companies in reference TO securing trade fo
this season. The repairs along the entire lin'
are being pushed, and the outlook is that thu
canal will be in firstcass condition early il
March. The important question presented
TO the new administration is the fixing 0
tolls for the season. Last year tolls AM
wharfage were fixed at SO cents per ton.
this the boatmen protested, and deegatio.
from Cumberland waited on the directors o
the company to advocate low rates.
The canal cannot well be conducted at
loss to the company, in view of the larg'
debt already held upon it, The questions
are, therefore, presented to secure trade, Il
compete with the railroads, and to keep gu
of further loss in running the canal. At thu
rates of last year it does not appear that th
canal can well compete with the railroads
and it is stated that the President, anticipat
ing such a state of affairs, has advocated
lower rate of tolls than existed last veal
The policy of the new administration Of tn
canal has also been vigorous in arranging
for the payment of the merchants an
laborers, and wiping out the debt Of $3.50
900 left as legacy by preceding admins
trations. Numbers Of the repair bonds
1878 are still in the possession of the com
pany, and 1t is well understood they are Of
the market and will be disposed Of to realiz
the amount necessary to pay all debts 70
: labor and materials purchased for the repai
Of the canal. The repair bonds pay pc
cent, 100000 of them being issued by th
State of Maryland at the session of the Leg
islatare in the above year. The adjourne
} meeting of the Directors of the Chesapeak
, and Ohio Canal will be held IN this cit
within the next ten days, when the questio
of tolls will be settled and positively mair
tanned for the year.
=. OF the $500,000 Of repair bonds authorize
, by the Legislature in 1878 something lik
100000 were issued at the time for repai
ing extensive freshet damages, &C. The r.
0 mainder of these bonds, as understood
! the legal authorities on the canal side, ca
, be sold to meet the 100000 of liabilities il
CURED for labor, material and repairs III
argument, which was ventilated fully at Il
e time the repair bonds were authorized, WI
that they were first lien on the canal
| has been stated that syndicate has be-
! negotiating for the purchase of block
these bonds. One of the canal directors 50
c Yesterday that he was not cognizant OF Il
/ fact, but the question of the issue Of the I
pair bonds for the purpose indicated h
been discussed. --BdIt0. Sun, End instant