Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-01
CONTINUED TROUBLE
Baltimore and Ohio Road and Its
Many Debts.
THE C. And 0. CANAL COMPLICATIONS
Books to Be Thrown Open to an
Independent Expert.
s O M E WERE BLOW

| pend to a great extent, IL Is believed, the
| question to whether despite the extreme
measures taken, the B. and o. system can
be maintained in it's entirety, as is so earn
estly desired by all the large holders of the
Company's securities.
The annual meeting of the stockholders
of thes Central Ohio Railroad Company,
which took place this week at Columbus,
Ohio developed the fact that there was
widespread dissatisfaction on account of
| the fact. as previously stated in The Star,
that the b. and o. at the time it went into
the hands of receivers was debtor to the
Central Ohio not only to the extent of $1O0-
coo, which the former owed to the latter by
reason of the b. and o. acting the bank
or for the other, but that the rental of 30
per cent has been overdue for some time
past.
The committee appointed by the Central
Ohio stockholders to confer with the B. and
y. receivers in reference to the matter are
expected to have A preliminary meeting for
the purpose of settling upon plan of pro-
Ceedure 1t is believed in circles that are
Usually Well informed that some sort of an
agreemcN will be reached without unnec-
essary delay. and that the amount overdue
for rental will be paid, and that such cou-
pons as may be in default will be redeemed.
Belt Line Bonds.
similar course was adopted a few days
ago in regard to the overdue coupons of the
Baltimore Belt Line bonds. and they are
low being purchased by a Baltimore bank
ing house for New York concern, said to
be the firm Of J. p. Morgan & Co, who, it
is stated, will hold them with a view of
providing for future contingencies.
AS the Central Ohio is almost as import
ant in Baltimore and Ohio operations as Is
the Belt line. which is really the tunnel
under the city of Baltimore It is thought
q 81 n no ter of
the former will be adjusted without re-
course TO law. as is the avowed intention
of the Central Ohio people in case a salts
factory settlement cannot be obtained in
any other way.
A more severe blow aimed at the Baltl-
more and Ohio which was inflicted at the
same meeting of stockholders was the
adoption of order directing the officers
and directors of the Central Ohio to have
the stock ledger and transfer books taken
out of the possession of the Baltimore and
OHIO railroad Company and placed in the
charge of some national bank or trust com
l,any in Baltimore city, which shall there
after become the transfer agent and Re gis-
tIar of transfers of the stock of the Cen
trail Ohio company and which company IS
TO be supplied with signed certificates,
signed by the president and secretary
The G. and o. Canal
Another matter which is said to be CIV
ing the baltimore and Ohio management
very serious concern is decision which is
expected any day from the court of ap-
Ieals of Maryland involving the future
ownership of the Chesapeake and Ohio
canal.
time before Attorney General Poe of that
state retired from Office, a few months ago
ne went before the court of appeals and
made an elaborate argument contendins
that the present parties in control of the
canal have no right to the property: that
the canal ownership is vested in the
state and under the terms of the charter
must be sold and the proceeds covered into
the treasury of Maryland. OF course the
managers OF the canal were represented nv
counsel at the hearing, but there We're only
a few persons even among the legal pro-
feSSlon who gave the incident any att..n-
tlons at the time, and it has only within TIE
| past few days that the subject has attract
ed notice among those interested in RaIti-
more and Ohio affairs.
AS matter of fact, the period during
which the present managers were allowed
as the trustees of the bondholIers OF 1874
| TO operata til" canal expired enc year ago
| today, and under the terms Of the decision
| of the Court of Appeals, in 1891 would, but
Tor the action OF those trustees have been
| offered for sale several months ago. Tn
| der that decision the trI SteeS took possess
| sion Of the canal property. agreeing how
ever. TO put II IN complete order for trans
portation purposes at the cost OF the bond
holders. and to pay certain sums of interest
named by the court. The court further re-
CURED that the trustees should. at the ey-
piratiOn of four years from May |, 1871
ueiit'' 20 q 'e " lIie SATISFACTION OF the
copoI ~ , 80. 49,, s!r; Ol'Sl az .iie
| canal would be sold. Rerora hoyyavnr The
! four wears exnired tho tr,lctoos s.~,,ra, ~
extension of time of central ana ~. -,
want the time extended 70 ION, % ~
| ground that those who advanced tho ,a,,,,ii,
| fnr the reDair Of tho caI,,I So, ~ -. 80
reimbursed az tha rn,.an,1as - no. 80
sufficient for tba ,,,,-,,o,o 7. =; ~ "S,ii
tension tb,t tho st.,a $780, !" " 'iie a.
If i believed soii ~ ,I,o,oi,Io, r,,..
banker tbot ..;f 10 "a t, pa more
if ourht to hring se,-rni ,, ,n " Solu
The interest Of RI. ctata in ,: ,,
as foIIows. Common stoclt 80, - ~! y 10
ferred stock ii o. onn. ,,,,rnid ~, ~ pr
dividends for tbir.|Si ,an , -. ~ 80
mort~a@e ,,ndar ~ 81 20 70, %aa.t,''',,
Iinraid intCr,st for Siyt, 80 <-',,,.,',,.
total 500 o., 7ni1t ''@''' '''-"'''o'
"Other claims arc as f,,lo,rs. t,o,5, 20
1914 about 81 700 uoo or5 i,,t,,n'c VI
gage of 1873 for s,nn nnn iii - - -
te,est. labor CLAIMS mi 7 o,rrI. 80 - III
merts s1pl mo 'u's
The contention of tho s+o+o +, H.. .
case tbe canal is sold Tho Sao,,ri. Ia w, ~
1914 bonds is zone opJ III Stt, " -, -
gage will tale nrccedancn 80 :. NO ~, =
bonds Of 1873 1'ba Sto+o liz 49,, 80 IN, Llie
tha exnansa incnrr,d b,. .h . r,''tiiS 'itdI
81 ,,e,,,,haI,... e ~ '''H''S9 loi