Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-04-30
AFTER THE CANAL
The B. and 0. May Be Obliged to
Give Up Control.
RAILROAD INSTEAD OF WATERWAY
Desire of West Virginia Central
to Secure an Outlet.
DEALING WITH BALTIMORE
DEALING WITH BALTIMORE

The statement was made a short time
be fore the Baltimore and Ohio Railroad
Company went into the hands Of receivers
by bankers who were in close relationship
with the then management of the company
that If such an extreme course was re-
sorted to one Of the main reasons would
be the desire Of the security holders of
the main lines of the system to get clear
of what are termed the improbable
branches, and which could be gotten rid
of In no other manner than by a receiver.
1t is well known that the Chesapeake
and Ohio canal, whose present relations
to tine b. and o. were explained in The
Star of Monday, Is unable to earn a tenth
part of the sum needed to pay the in
tereSt on its outstanding bonds, not sin
gle holder of which, outside of those who
happen to be the owners of the small
amount issued in 1854, derives an iota of
benefit from Them and the theory has
been advanced that when the plan of the
New York reorganization committee of the
b. and O. is submitted it win be found to
contain provision for the surrender of
the canal to the state of Maryland.
In this event the sale of the property
would follow in due course. and 1t is pref
ty safe to predict that the result would
be that in a few years at most new and
important railway west, southwest and
northwest of Cumberland. Nd, either over
lis own or connecting lines. and that taps
{. rich and valuable territory which is
constantly increasing in population and
wealth would be brought into Washington.
Given any sort of an opportunity to Sc
cure the Chesapeake and Ohio canal at a
fair price, not, of course, what 1t cost
originally, but what a commission of eX-
perts would value it in these days, and it
is believed by those who have given the
matter serious attention that the West
Virginia Central and Pittsburg Railroad
Company. which Is composed of some of
the most prominent men of this city and
nation, Will be glad 10 purchase it.
An Important Line.
There Is a disposition On the part of
some railroad managers to discount the
road, and while at this time it extends
only from Cumberland, Nd. to Elkins,
w. Va. a distance of about 1;r' miles, 1t
will undoubtedly in the near future reach
Charleston, W. Va, to which point the
company has a charter. By traffic ar
rangement with the Il. and o. its freight
trains go to PittSburg and other northern
points. and under similar agreements with
the Pennsylvania company it gets its pro-
ducts to Washington, Baltimore and points
east.
When it is taken into consideration that
the stock of the West Virginia Central
and Pittsburg is held by the Pennsyl-
vaILia company, eX-United States Senator
u. -
president of the company; Senators Cor
man and ElkinS, the Blaine estate, X. e.
kerens, the noted politician of st. Louis,
md several other persons of equal celeb
money is concerned those interested in
the W. V. C. and p. are able to construct
a railroad of any length they may wish.
Entrance to Washington.
Several years ago this company submitted
a proposition to the board of public works
of Maryland TO purchase the Chesapeake
and Ohio canal at a stipulated valuation,
which was OF course, much less than what
the state had invested in it, intending to
close it up as a waterway and to build a
railroad in the bed all the way from Cum
berland 10 this city.
This proposition did not receive considera-
ton frCm the board of public works, be-
cause, as heretofore stated in The Star. the
1914 bondnolders secured a decision from
the Court of Appeals in their favor.
There is every reason to believe that the
W. V. Z. and Pittsburg is as anxious now
TO reach Washington as it was when it
tried TO buy the G. and o. canal for since
then it has had a route surveyed from Cum
berland to HagcrStown, seventy miles,
where it could tap the Western Maryland
railroad and the directors have been au-
thoriZed to issue bonds to the amount OF
S,GDO,00O for the purpose of constructing
it, but none of the bonds have been issued,
one reason being that it is an open secret
that the company desires to buy the West
ern Maryland, if it can do so.
1t is not improba bic that this result will
eventually happen, as the city of Balti-
more is creditor of the Western Mary
land to the extent of more than SI.Un.GU,
while of the bonds of the railroad company
held by it, the city receives interest on but
a very small portion. Added to this is the
fact that in the course of a very few years
the city of Baltimore will, it is expected
be caI!e1 upon to pay several millions bond
ed Indebtedness of the railroad for which
the city is indorser.
Efforts to Buy.
The West Virginia Central and Pittsburs
some time ago submitted an offer to the
city of Baltimore for the purchase of its
interest in the road, and the acceptance of
the proposition was favored by the then
mayor of the city and large number of
the most prominent citizens, but a great
hue ard cry was raised that if carried out it
would cause the diversion of great deal
of trade from Baltimore, and as the West
ern Maryland has managed since that time
to pay the interest on one or two issues of
its bonds held by the city, the subject has
been permitted to take a rest.
The West Virginia Central and Pittsburg
could, 1t is believed, secure favora Bile
traffic arrangement with the Western Mary
land at this time, but it would, it is be-
licved, be of very little. If any, practical
benefit to the former company, as the West
ern Maryland with the exception of about
twenty miles near Baltimore, Is a single
track line, and has so much traffic that it
can hardly accommodate its own business,
viii there are so many passenger trains