Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-01-17

THE SYNDICATE SAID TO BE SATISFIED OVER tn
SITUATION OF AFFAIRS.

THE SYNDICATE SAID TO BE SATISFIED OVER THE
SITUATION OF AFFAIRs
From the Baltimore American Jan. Il.
The finance committee OF the Baltimore and
Ohio held a meeting yesterday to confer with
President spencer upon the financial condition OF
the corporation. The committee discussed the
financial affairs between the company and the
syndicate. They are anxious that there shall be
no strain, because the stockholders failed to vote
for the third preferred stock. The company owes
the syndicate nearly $5,0OO0O0, and the syndicate
holds the United States Express and western
Union Telegraph stock security. The loan does
not fall due until late in the summer or In the FALL
and the company has the option to pay It OF and
draw down the coilaterals before that time IL it
sees Mt and is able This. from the present out
two payments Money Is much easier now and
there is not the same opposition TO the company
states was leagued against IL under the command
OF Jay Gould.
The syndicate shows no resentment on account
or the refusal OF the city and state directors to
vote the stock for fear that the control OF the COM
pany would pass out OF the hands or Maryl
stoekhoders The stronger the company Is the
l1gner VIII be the market value OF the conSoll-
dated bonds and the more demand there will be
for them. And then, there have been offers OF
financial aid from bankers In the company who
could not give IL some time ago. The earnings OF
the company are large and steadily increasing.
IL Is understood that Messrs Miller, Dobbn, Key
ser, and McLane advised the issue In the last d.
rectors meeting and Messrs. Garrett and Burns
DID not vote, while the ten city and state directors
VINO were present voted To adopt the unIaVoraDle
report made on the subject by MeSSrS. Mayer ana
Sloan, who were considered syndicate men, and
STATE Director German. One or the elder directors
Then remarked: Il think you young men have
MADE a mistake In this matter" But the young
men mad been told the company could borrow all
the money required in Baltimore, and they did not
care 10 fall out with senator German, as many or
them were appointed on political grounds.
There are some men connected with The West
virginia Central and P1ttsburg Railway Co. who
would like to have the placing OF Baltimore and
ONO Issue OF preferred stock nOw-nOt that they
nave tine capital themselves, but safe stock,
with guaranteed dividend would sell at good hg-
ures IN New York or Boston, as whole city loan
Old some time ago
WASHINGTON AND ST. MARY'S RAILROAD.
The annual meeting OF the stockholders Of the
Washington and st. Mary's Railroad Co. was held
yesterday at the Office OF Messrs. Morris & Bond,
attorneys OF the corporation. 1t resulted in the
Reelection OF the Old DO I'd or directors, with one
or Two exceptions. Andrew Albright, of Newark,
n. j., is president OF the road, and William Ii. WIFE,
OF Philadelphia, secretary. The road Is TO run
from ST Mury's TO Washington, and, at present, Is
put partially completed. None OF the parties ill.,
tereSted are residents OF the city,
NEW EQUIPMENT FOR THE ROAD.
The Baltimore Sun says that at yesterday. 8
meeting arrangements were made for securing the
needed new equipment for the road II Is stated
that no new loan will be needed to accomplish
this The Baltimore Sun states that in railroad
circles IL Is considered a well-establisned TACT
that the syndicale's connection with the road is
at an end, and that they have abandoned all
claims since the stockholders refused ratify
German, VINO went over to attend the meeting
yesterday In Baltimore, stated last evening that
he Is entirely satisfied with the present SITUATION
and expresses the confident belief that the con-
trolling interest In the road now safely lodged
In Marylan hands. He says there Is no doubt as
to the healthy financial condition OF the company
The failure to ratify the scneine OF the syndicate
will be the means OF saving TO the road large
amount OF money.