New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-15
RAILROAD INTERESTS.
GORMAN's NEW POLITICAL MACHINE.
THE BOSS PREVENTS THE ISSUE OF 100000
THIRD PREFERRED STOCK TO THE B. AND o.

GORMANS NEW POLITICAL MACHINE.
THE BOSS PREVENTS THE ISSUE OF $4,000 900
THIRD PREFERRED STOCK TO THE B. AND o.
SYNDICATE.
BALTIMORE, Jan. IA specialization Senator Cor
had Governor Lloyd appoint him State director
in the Baltimore and Ohio Railroad about two months
ago. Il was predicted that the boss Of the Maryland
political ring would some day WELD equally as much
influence in the great railroad corporation as no does
In the politics Of the State He no sooner became
State director than no took control Of all tho other
city and State Director The CARROTS used to control
these directors and could always count on the $4,000
shares of tho State and city to insure them majority
German concluded to change the order of things lie
knew that with these $4,000 shares Of stock at his
command he would hold the balance OF power and
could checkmate any move he pleased.
When John NJ Cowen the chief counsellor Of the
company and Germans bterest political enemy, had
completed for the benefit Of the company the nego-
tiatons with the DrexelMorgan syndicate to save
the railroad from a threatened financial crisis, German
stepped In as an antagonist. AT tho meeting In
December when the terms with the syndicate were
rat fed and tho blanket mortgage to tho syndicate
agreed upon, Senator German bitterly opposed
several features of the agreement and created scene
In the directors meeting such as had not been W.T.
messed in that quiet body for lie at once as
sumed the role Of kicker" and he has continued to
block the syndlcate's plans ever since.
with to-days meeting ended the first contest over
tho $1,000, 900 loan proposition of the Syndicate
Tho third aud final attempt was made to have the
stockholders authorize the creation of the proposed
600 900 Issue of third preferred six per cent stock
1t was, Of course a failure. Only Reverdy Johnson,
the chairman. and Andrew Anderson, the secretary,
attended the meeting, which was declared adjourned
without any stock having been voted. Senator Cor
man arrived from Washington and had a conference
with T. Harrison Garrett, who at the first days meet
ing voted all the Garrett and Johns Hopkins estate
holdings for tho issue OF the stock Mr.. Garrett
declined to say whether another meeting would DO
held, but 1t is reported that tbs syndicate will call
special meeting of the stockholders, when the latter
will be informed that syndicate does not propose
be traed with by Senator German or any one else
singular but significant feature of the contest
lust closed Is the strong and prejudced support
given German In his fight by the ring Democratic
of unbiased fnanciers that German Is trying hard TO
make complete political machine out OF the
Baltimore and Ohio as he did OF the chesapeake ana
Ohio Canal 1t IS said that he male overures to the
syndicate for concessions, but was promptly repulsed
and given neIstand that the syndicate would not
permit politics TO interfere In the slightest with inc
conduct Of the road This repulse probably led Cor,
to the steps he has Just taken. When asked
to-day II tho statement was true that the syndicate
could enforce Its claims for the issue Tor me pre-
fcrred stock. German said very emphatlcally: They
cannot do anything of the kind
-. While not disposed to be communicative some OF
dictate is not at all pleased with the refusal of the stock
holders 10 the third preferred stock and u Is sald
that the influence Of some OF the leading stockholder
was stimulated whcn the assistance Jt the syndi-
sought and obtained al the time when the
Baltimore and Ohio was in so muth financial trouoie
a few months ago They told, 1t Is said, that all
that needed to authorize the issue OF the new
stock for 1t to become known that It was Robert
CARROTS wish. Now that the syndicate has failed
parties who declare themselves friendly to say that the
nnrd support of the element which u relied on has
really been given to the other side, and that while the
large holders have given their votes TO the syndicate
they have not disguised their VII for tho defeat OK
tho measure 1t Is limited I'm quarters that but for
for that hoy pledged the CARROTS would have
stood with the city and state directors in opposing the
issue This would give color to the report circulated
some time ago that German became State director at
the instance Of the CARROTS" -
II is stated that the preferred STOCK WILL sen nero
for 81 10 t. 81 10 share.