Evening journal., 1891-03-24

3 per cent. bonds will be / per
cent or 81 200 In interest a year For
the four years this will amount to "a, 500
which represents the difference of one
per cent. AS matter Of good fnanc er.
ing it will pay the state to accept the
three per cent bonds because IL this move
is not taken. the mortgages will be fore
closed and the lawyer who can adjust the
matter as we'll as the adoption Of the
proposition will adjust IL will think
$40. 600 is a small fee for his services
1t would be a small fee when you take
into consideration the retaintrs paid TO
railroad companies counsel a. this time
In fact it is matter of necessity. II the
state does not accept the terms OF the
p, w a. B. railroad it will have to sell
out or buy in
why such Terms We're Made,
"Hage yon any idea why the P. w &
B. railroad made such liberal termsq
was asked.
MY impression is that the road is a
good feeder TO the Delaware division. ii
is run by the eompanys employees aud
therefore the directors would rather go to
a little expense TO get II in its present
condition than TO withdraw all Of It's men
and material TO put in other places. II
il were new enterprise do not think
the proposition would have been
entertained for an instant. The road
cannot with profit be operated by any
one but the p w & B Company, be-
cause it has been losing money, at the
rate Of $50, 900 in the last four years OF
course 1t is indirectly a benefit to its
lessees, for 1t provides an outlet, but If
the state owned the road or it should be
purchased by another company, the only
sure thing would be the steady loss
Besides all this the claim that the
road Is worth 81 900, 900 is absurd II
the state does not want 20 accept the
terms of the P., w. & b. railroad, 1t, Of
course, can refuse, and the company viii
say Very WELL you sell the road out,
and we'll Did on it aud we'll get 1t at less
expenEe than under the agreement
No Good Objections.
II cannot conceive Of reason why
any good sitizen of this state should
objee. TO the adoption Of this bill. It
clears away much OF the state debt, In
sures the payment Of several hundred
thousand dollars owed 20 the state, and
forever removes the possibility Of the
states having TO 60 into the railroad
business
'As you well know there are always at
Dover lawyers Of good reputation who
do not feel gratitied to see any bill go
through without their assistance. When
there is no real objection to & bill they
begin to shake their heads and say II Is
not a good thing This they
do until they make the
persons interested IN the bill
think that 1t will be necessary to engage
strong lobby to secure its passage
Then the lawyers who are engaged to do
the lobbying are highly satisfied with tho
proposed measure.
The Guaranty WIN Hold.
Concerning the question whether the
guaranty Of the Philadelphia, Whining
ton & Baltimore Railroad Company, a
corporation chartered in three states, Will
hold without the legal sanction Of the
three states in which it is incorporated,
have to say that the State of Delaware
deals only with that portion Of the Phil
adelphia, Wilmington and Baltimore
Railroad Company, which is within Its
borders and the legal sanction Of Other
states Is not required. II will be cause
for great congratulation If the Legisla-
ture viii pass tnis necessary and libera
| bill