The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1886-01-16
Maryland Central Directors Nesting

maryland Central Directors Meeting
Oener Matters Concerning the Road
Inc board of Directors of the Maryland Central
railroad Company held its annual meeting at
Boundary Avenue Station on Friday of last week,
with Mr.. VIM. ii. Waters in the chair. There
were we present Messrs. Joseph W. Jenkins Jr., W.
W. spence, Michael Jenkins, A. S. Baldwin, John
M. Denson, Joseph M. STREET., Eli Tucker and
Ihomas Armstrong. AS the road in the hands of
receiver the only business transacted by the di-
rectors was to consider the financial condition of
the company represented by the statement of
Mr.. Wrenshall, the receiver. The expenses were
as iollows Conducting transportation, $42 $3.50 ;
maintenance n mt of way $3l 294.6l; motive power,
40; general expenses, SIS, 363.23; mainte-
nance of cars, 1854 06; ground rent, 81 1880
taxes, S1,SS9.17 total, sos ,51O75. The revenue
was as follows: Passengers, S,518.78; freight,
s45, 62467 milk SO, 396.33; mail, 81, 23024; ex-
press, Sl,S35.l6; total, Sill ,605.1S. The profit
was $13,094.43
Tha Maryland Central issued S9OO, 900 of bonds,
S6OO,OOO of which were first mortgage and $780,
OOO second mortgage, all of which were sold. Mr..
Robert CARROTS recent purchase aggregated $780,
500 of the bonds, of which $l27,5O0 were frsts
and $50, 900 seconds.
Referring to the recent purchase by Mr.. Gar
rett of some of the bonds of this road the Hartford
Democrat, of which Mr.. Jos. M. STREET., direc-
tor in the company, is the editor, says: "Last
the M. Z. K. r. had been sold to the B. & O., and
was about to be made broad-gaug road. The
story started from source that is of known un-
reliability. AS there only two ways of dis
posing of the road-one through the action of the
owners directly and the other through the courts,
and as neither had been consulted regarding a
SALE the transfer was not possible.
The rumor originated probably from the fact
that the administrators of Mr.. Oliver G. Zell,
who held $4,000 of the first mortgage bonds
and $4,000 of the second, had, in order to settle
the estate of decedent, sold these bonds at the
quest of Mrs. Zell and her children.
This sale, and purchase by Mr.. Garrett, whose
prudence as an investor is we'll known and whose
knowledge of railroads and their value is undis-
puted, will add to the market value of the M. G.
bonds, and may foreshadow the introduction in
the near future of the B. & 0. system of manage
ment of our little road. 1t would be natural for
Mr.. Garrett, having invested his money in the
4 tie N. c., to have the most economical
| an6judcious management of the road, in order
to ppreciate the value of his securities, and it
void be equally natural for the other holders of
theroad's securities to desire the same thing. If
Mr. Garrett should suggest, as it is intimated he
ma, that the management of the M. C. R. R.
shdld be under the direction of one of his train
| ed ind trusted railroad men, it is not improbable
| this such suggestion would be acceptable to the
holers of the roads securities All are interested
| in having the maximum receipts at minimum
COT: and this is the direct purpose of the B. q 0.
an is the secret of its phenomenal success as
| raroad.
| The Maryland Central Railroad is valuable
prperty, and the work it has done the past year,
agregating in value about $4,000 demonstrates
tn fact-with the rapid development and i'm
prvement of the country through which this
rod passes and the increased use of the road that
isoeng made by its patrons, together with first
clss management, will add to these receipts from
fhen to twenty per cent. annually for the next
| te gears"