The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-12-26
B. \ 0. FINANCES


Undergoing Heroic llsIormRtory TTcai-
memt-A Friendly RrrslvsrShlp May bV
Asked for 10 straightcn 3IstteT Oa''
SomV lnAldC Information,
NEW YORK, Dec, 2j,-rha financial
situation of the Baltimore a. Onto Rail-
road Company continues 10 excite con-
siderable comment, and the develop
mcuts are being watched IN money
circles with the greatebt Interest with
the resignation Of President Mayer u
few days ago II leaked out that there
was something behind the move which
had not as yet been made public By the
directory, but II vas something which
certain well informed people were not
surprised 10 learn. Tho statement Ia
some OF the mornihG papers therefore,
that tho financial nnnira OF the COM
pany are nav ON the disseCting table
"underEolng heroic roformatOry treat
mcnt," and that expert accountants are
at work trying TO ascertain the value
OF the property as an Investment, was
not unlocked for, The general opinion
Is, however, that the result OF the pres
ont crisis viii be that the road viii take
on new life, and will be saved from the
dlrcst consequences OF the policy which
has wrecked II and made the necessity
for n receivershir possible,
An Open Secret.
A morning paper has 1t that the New
York directors, who forced out Presi-
dent Mayer, us has heretofore been
published, have matters now In the
shape they wanted them Speaking
some time since OF The Baltimore y
Ohio accounts, "DIll" Travcrs, the
fatddus Wall street wit, remarked that
they were kept with pencil on q
slate, with sponge at hand" BE that
as Il mGy,it Is an open secret that Pres
ldent Mayer did no, possess the conf
dence OF the New York contingent. they
We're not satisfied with his methods,
and. as they Were In position TO conf
mand the ready capital the road was In
need Of, they mnde their assistance con-
dltiunal upon his retirement,
II Is stated that during all the yearn
OF Mi Mayors presidency dividends
were paid, not from money freshly
earned each year in the operations OF
the road. but from manipulation OF ac-
counts between the main system and us
host OF parasitic branch lines, This
was very pleasing 10 the trustees and
others holding various parts OF us $50,
100000 In stock.
New Order Of Things.
A halt has been called on the entire
system and adjustments OF loans hnyo
been demanded. The Mutual Life In
surance Company VI this city has been
n sort OF financial hacker OF this old
trunk line. but q recent demand for a
settlement from that quarter threw big
patches OF the Baltimore q ohio Sc
curitiss back to the Mercantile Trust
Company, as the New York representa-
tive OF the control
In railroada slang. tho road has been
wrecked through branch line opera
tiOns. President Mayors critics do not
accuse him VI beinEP party to u az me
start. He was made to believe that the
branches were more valuable than they
really were, and that they were surplus
producers instead OF surplus consum-
ers. once started. he would not with
draw from his position. He would not
confess his error, II he knew IL, aud now
the rude awakening has come,
The English securities holders. acting
through the New York representative.
have taken charge OF the property and
propose to run II on business principles,
to nay the dividends only aS earned. II
ct ali, 10 lop OF Improbable branches
and put the property In Its place as one
.of the greatest systems OF the country.
No announcement has yet been made
OF the passing OF the regular January
interest payments, but tho street has
been full OF talk OF friendly receiver
ship 20 be brought about By the rehn-
bIlitatlon syndicate. once behind such
a court protection II is claimed that the
digging out Of true values from beneath
the mass OF queer bookkeeping viii be
short md sure. and that the property
viii be put In position where It's re-
ports will be accepted AZ having some
relations 10 the real condition OF things