Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1890-01-10
To Restore the Canal.

Gen. George S. Brown, Mr. John S.
Cuttings, VIM. NJ Matthews, Freder-
lex NJ. Colston and Bradley S. John
son, trustees of the bondholders of
the Chesapeake and Ohio Canal com
pany, under the act of 1914 and the
mortgage Of 1S4S, have filed bills in
the Supreme Court of the District of
Columbia and the circnit court for
Washington county, Md, in equity
asking for receiver to take charge
of the canal, TO borrow money TO put
it in repair and to operate it. The
bill charges that the company is in
solvent, that it owes S1,S99, 800 of
bonds, which are now due, with
twenty-five years interest on them;
that in May last a great freshet totally
wrecked the canal and made it use
less, and that it is now completely
destroyed as a waterway. 1t isstated
that the company has made every
reasonable effort to raise money TO
repair the canal, without success.
The report of the president and direc-
tors of June 13, 1899, states that il will
require 100000 to repair the canal
and put it in good condition, and that
the company is powerless to raise
this amount that the bondholders,
for whom the complainants are trus-
tees, have first lien on the tolls and
revenues of the canal, they will lose
their money and be without remedy;
that if a receiver or receivers be
appointed, money can be obtained to
repair the canal, it can lie maintained
as waterway, and revenue can be
earned TO pay the bondholders. Chief
Judge Alvey, at Hagerstown, set the
application down for a hearing on the
30th of January The counsel for the
trustees is Gen. Bradley 7. Johnson,
and the bill in Hagerstown was filed
by Johnson 4 Johnson and II. II.
Keedy and in Washington by Johnson
& Johnson and w. NJ. Matthews.
Gen. Johnson is quoted as saying
The object of this movement is to
prevent the sale of the canal and to
preserve it as a waterway. The bond
holders are vitality interested in hav
ing the canal operated as a canal and
not as a railroad. 1t is great mis-
take to believe that the days of canals
are numbered. Under proper condi-
tons canals can transport heavy
freight like coal on terms beyond pos
sible competition by railroads. The
bondholders are not willing TO advance
the money 70 repair and operate the
canal as long as it remains under
political management. We are not
complaining of the personnel of the
management Of the system. Politics
can't run a hotel, a canal or rail
road. Experience Is overwhelming
on that point, but we believe that the
canal may be resuscitated and made
"a great benefit to the coal regions, TO
lllt SldlG anu W Tue
The canals III Belgium regulate the
railroad charges. The Erie canal is
the great regulator OF east and west
transportation, and we believe that
the Chesapeake and Ohio canal may
be made the means of cheapening
coalin Baltimore, of increasing power,
and of developing great system OF
manufacture. If we Can get u re-
ceivership, and thus have al admin
istration purely an industrial one, We
can get the money necessary in ten
days. If we cannot get the receiver
ship the canal must remain dry and
then be sold The question is J: To
whom will it be sold and for what
price We propose to save the canal
and make it pay"
Governor Jackson, of Maryland, in
his message to the Legislature, advo-
Gates the preservation Of the canal,
and says plans for that purpose will
be submitted.