The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-29
THE CHARGE Is FALSE.
DENIAL OF Il NEWSPAPER REPORT
LGATNsT THE C. AND u.
There 10 No Trouble In the Financial Con-
dition Of This Raiiroad-Their Deal
ings with the Coal Dealers.

An article in the Cincinnati CONNER
cial-Gazette Thursday attacking the Imam
cial status OF the Chesapeake and Ohio
railway caused considerable sur In this
city, where the Chesapeake and Ohio has
It's main Offices, and is looked on as the
most solid institution Of the country.
The article in question. which is based
ION little quiet talk among the coal
Dealers" charges that the Indebtedness
OF the Chesapeake and ohio railway to
the miners along It's line for coal is from
one and a half 10 two million dollars,
and that the operations Of the miners are
greatly crippled for the want Oh the
money due them, and that they are dis
charging the greater part OF tnelr FORCE Oh
iaborers for the lack OF means 70 pay
them. The article further charges that
the Chesapeake and Ohio Is seiilng inc
coal for cash. and the money Whlch
should go for the payment OF the eoai Is
being used 10 liquidate the Indebtedness
Of the road.
II is gratifying TO know that the officers
OF the road I'm this city are able TO demon
strate TO the satisfaction or the "orld
ments made. and they fall with very llttle
force In the wake OF the figures just pub
llshed showing the comparative statement
Of the earnings and expenses or tue Ches-
apeake and Ohio railway for tho year
ending June Goth, which shows the hand-
some increase OF S7Gil2i7O over the year
previous. When l saw General Manager
stephens yesterday he laughed over the
matter. and said that there was no truth
I'm the statements. that as a matter Oh
fact the entire floating debt or the Chesa-
peake and Ohio railway was iess IMAM
one-half OF the amount reported by the
newspaper article mentioned as hue tiie
coal operators; that instead OF TWO mn
lion dollars being due the miners lor
coal the amount was less than TWO nun
dred thousand dollars, which amount was
not In excess Of the sum carried over
from month 10 month on account OF the
necessary delay in the sale OF coal ana
the auditing Of the vouchers. ON the
other hand. that the miners nearly AL
vavs receive their money about thirty
aays before II is collected by the com
many. and that the only proht received
by the railway was the freight based OF
a very low rate. / also called on MI
Sullivan. the suditor Of the chesapeake
and Ohio. He said that he had all the
figures before him. Just having completed
tber, for the annual statement ana that
there was no truth In the statements IN
tho Commercial Gazette as TO the unusual
Indebtedness OF the company TO the coal
operators along the line.
He declined. however, without lnstruc-
lions from President ingalls,. TO give them
out for publication.
It is learned unohicially that the amount
due coal operators along the line IS IN
round numbers one hundred and ninety
thousand dollars, whereas the amount
due the company from the coal agent Is
s622. 900.
In discussing the matter yesterday
Manager Stevens said that the company
always invested about a half million dol
lors IN coal. which was devoted TO los
tering this trade: that the system or
dealing with the coal operators was the
same that had existed for years, ana that
the system Of handling all the coal throush
an agent Of the company insured the
miners q certain market and was greatly
10 ,heir ADVANTAGE He was certain that
the coal operatOrs would not change the
system II they were offered the oppor-
tnnitv 10 do go. Notwithstanding the
Great depression In finances the Chesa-
peake and Ohio shipped more coal rom
Newport News in June and July than
for the corresponding months Of last
year IT..
The charge made by the Gazette that
the chesapeake and Ohio during the coal
famine last January conhscated a num-
ber OF cars consigned 10 local dealers
al the time they were assisting the In
quirer to supply the poor OF Cincinnati
with cheap coal in opposition to the
combine OF coal dealers In that city, was
also denied by Manager Stevens. He said
that II II had been necessary to do so
in ovder to supply those poor people with
coal. however. they would not nave
lneftotoI ~ 10