Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-08-05

THE c. AND O. CANAL
Critical Period in Its History
Thought to Be at Hand.
MARYLAND'S SHARE OFFERED FOR sale
Railroads Competing With the B.
and O. Want It.
A BIG SALE TOD A Y
MARYLAnDS SHARE OFFERED FOR SALE
A BIG SALE TOD AY

"A < -
The affairs of the Chesapeake and Ohio
Canal r,omnanv are being regarded with
rnuob ,ntarast inst now in canit.listic cir
','ueti 'NSe "
cies. some tiIiie ako tie COMPANY oe.er-
mined to sell it's valuable property stu
ated at the junction of Rock creek, the
Potomac river and the canal in Difference
- - 49,. 60, 60. - 49,
" oeeiee y. III. 'up. si''e ooui. VI ZIG
District of Columbia in the case of George
Canal Company and others. Charles F. r.
p..Ia Voc ~. +,,st,a .nd h. .d,.r,isad
nea'e vas ,'is 'u''ee' anu ''e "u' ei .''eu
the sale to take place today, August D, at
40 O'Clock pm. The property comprises
two tracts or parcels Of land. The first
contains 56.973 square feet. with a 'front.'
age of $50 IL feet ON the Potomac river.
!he second contains 1924 square feet in
q. H and streets and 21th and 2oth streets.
All this property is now occupied by the
Washington City Gas Light Company, un-
ger htty years lease, beginning IN 1919,
To be sold a as y whn1s snG "a h;d 81 iess
than 100000 will be considered. while the
terms are cash.
1t is probable that some other persons
besides those directly interested in the suit
between the parties which brought about
tn. sale will he nresont in view Of recent
occurrences in conrection with the Ches-
apeake and Ohio Canal COMPANY The
that the he'd of the canal was enviously
regarded by MANY railroad corporations
who saw ito adantahilitv for haing used
for tracks over Which the Raltimnre and
Ohio could he fucrativeiv CONNECTED with
in the coal trade of West Virginia and
MARYLAND a., we'll as carving of other da-
scr.ptior 8 There was no chance for such
CORPORATIONS to secure the nroperty. how
an Immense share of the ownership of fine
canal while Mics Mary Carrstt danebtar
Of the late .1ohn W GarTett NJ the Ba,ti.
more and Ohio is large holder of the
bonds of 1914 Of the canal which arc a
first lien. and neither the STATE nor the Rai-
t,n,ore and Ohio naonia draamaa 80 d;.,,aa
ing Of such vaips he aid tn tbs monnpoiv
enioyed bv the latter comnany
Maryiands share for Sale.
A few days ago hcwevar nossib,e m
nor+,,n;. g. 80. -. t.
~ .u'' III so',ie iicn eorpofa.ioi 10 Sc
cure the lons-desired route parallelhng the
Baltimore and Ohio through Maryland, was
opened in the action of the hoard Of ,uh,ic
works of tho s+,+o - ,,,r,,oa ,,, -
y, '"e s'a.e VI Hai iahu' WHICH re-
soINeu, II, accoruance with an act OF as
ssIhpiy OF Ie,z, 10 aoVeruse Tor the sale OF
Maryanos interest," IN the canal. me
Iesoiutions adopted by the board give dual
reasons TOT the proposed advertisement,
anu were as Ioiiows:
"hefeas' Sy tae act OF 1917, chaptsr $40,
.ne poaro oI puphc WORKS are authorlz 30
tn+ ins.G se es proposais ioI Ine stase
mterest IN the chesapeake and ONO canal,
as Wen as In otner property heid ny the
st 1s anu ri,
deferred exercising the newer az ronfarred
upon them by said act in regard to the sale
tba resson that Il sv.s nnt snnnosad th bo
any probable purchaser therefor would he
works would feel themselves at liberty to
aGSep., anu,
be,;ava ths, mo-, invitns sasad n 1eu 10
for the states interest in said canal tbav
would Obtain satisfactory hid or bids.
and
means shai, he taken tn es cart the vei,,e
of the states interest in said Ches,neake
ana Ohio cana, to tse end That TIC san.r,I
Assembly NAV be advised of the value of
sold interest ei,bar nv an oc4.,,l e,Ia
1har.of ~ b., hiSs ,nG,.a an aI Ia .he
sanoo ,o.v r.syi,a is ofsened at n,,hj;o saia
and thus NAV he able tn deal ipta,I;ean-Iy
end WITH FIJI lnouledee If Tho faots ,.,;tb
the Question as to nov far If at all crad-
itors of the Chesapeake and Ohio canal.
for worr dona and Material fnrnisSsd n,o,,
tho Construction and renajr there II re on
titied to he Maid nv the state In Jefauit nr
raraI connn.nv. therefore he II 0
Resol,.ed nv Tho ho.rl oS nub,;o ,,,orks
Thai the hoard shall nroceed At once to ad,
vartise 40 nrovided Nv said act NJ 1900
ch.nter a1o for saa,a5 nronosaIs for IT,
n,rchesa ~ The statas ,ntarest IN sod
Chesapeake aid Ohio canal and all its
property anu "o'As VI every oeS'''p'''"
me historS OF the company
The states holdings In the canal, includ-
ing principal and interest. are estimated at
$SoO00,0OO. which includes the original loan
made by the state and the mortgages 1t
has upon 1t.
The capital stock Of the Chesapeake and
Ohio Canal Company ia e. SCI. 593. CT. of
which the United States owns 81. OOJOOO.
and the state of MARYLAND the greater part
of the remainder. The state holds. In afldi
ton two MORTGAGES, one for s4.375 600 and
another for 100000. These sums were
not sufficient to complete the canal to
Cumberland, and the incomplete canal was
comparatfyely yalueless and without earn
ing Capacity.
That was in 1874, and the legislature that