Evening star., 1896-11-16

Ihe seventeen annual meeting of the
stockholders of the Baltimore and Ohio
Railroad Company began at IL o'clock this
morning at the general office of the COM
pany in Baltimore.
Mr.. Reverdy johnson, who has been
chairman OF each annual meeting for many
years past, was again called upon to pre-
side. For the first time in moce than a 4;
quarter cf century the veteran secretary
of the company, Mr.. Andrew Anderson.
was absent, and his place was TILED by Mr..
Custis w. Woolford, the assistant secre-
tary.
More than nine-tenths of the stock was
represented in the voting Among those
present were Gen. Louis Fitzgerald, pres;-'
dent of the Mercantile Trust Company Of
New York; Messrs. William A Read, Eu-
gene Delano, Howland Davis, Henry Bucge
August Belmont and E. R. Bacon, also of
that city, the latter being likewise pres.-
Gent OF the Baltimore and Ohio Southwest
ern Company; Messrs. George c. Jenkins.
Aubrey Pearre, George A.. Won LIygen
Alexander Shaw, William F. Frick. Mau-
rice Gregg, William H. Blackford, James
L; McLane and other prominent men.
Inc report of Mr.. John K. Cowen as presi-,
dent, and of Mr.. Oscar G. Murray and
himself as receivers, was reai and ac-
cepted, but will not be published in full, as
has been done each year heretofore for the
present at least.
Although the receivers make freouent
reports of the transactions of the company
TO the United States court at Baltimore 1t
was anticipated that the first annual re-
port made after the road went into the
hands of receivers would be quite inter-
esting, and there was no disappointment
felt on account of the exhibit made by The
statements of the president.
President Cowen dealt in consid era5le de-
tail regarding what has been done along
the lines of the entire system during the
past twelve months. and the reading by the
secretary attracted the close attention OF
every stockholder present.
The salient points Of The report were
given today to Star reporter at the Bah
timore and Ohio building in Baltimore,
and 1t was stated as the belief of those
most largely interested that the proofs
as made known in the report showed that
if the wise policy in regard to bringing the
road up to first-class condition which
was inaugurated by Receivers Cowen and
Murray soon after they took charge is j..
continued, the road can be made divi-
dend payer in much shorter period than
1t has heretofore been feared would be the
case, and it was. it is understood, shown
to the satisfae ton of the stockholders
that the money derived from the sale of
the sS,Oo9,OU receivers certificates and
equipment bonds has been carefully and
well spent, while the completion ot the I'M
provements projected will be almost Ger
tain to add largely to the revenues of the
company. AS a matter of fact the latter
are regarded in transportation circles as
Indispensable to the proper conduct of the
Baltimore and Ohios great and increasing
business.
The report stated it was said that the
Increase in gross receipts for the year
amounted TO almost <1.2oO.0oO, every dollar
Of which has been spent in improving the
physical condition of the property.
Gratifying Results.
1t was further stated that the receipts. as
demonstrated by the figures submitted.
were as great as there was any reason to
expect they would be, and that there has
been a decrease, in net receipts as com
pared with some previous years is owing
to the fact that it was found necessary to
make enormous expenditures for improve
ments in the roadbed. maintenance of
chinery, such as engines etc.
The figures in this respect showed, it was
stated. that Notwithstanding the great de-
mands. upon the rolling stock, which COM
prises s1o locomotives and upward of 30 ,00)
cars of various kinds less than 6 per cent
attributable to the fact that Mr.. Murray
has completely reversed the policy of the
former management in respect to repairs
insisting that when it becomes necessary to
repair any rolling stock it is done in the
very best manner possible before it is
again put into service.
1t is understood that there will be one or
two changes in the present board of direc-
tors, which will be made at the meeting.
Board of Directors.
The retiring board is composed of Messrs.
William H. Blackford. Maurice Gregg, VIM
r. Frick, Alexander Shaw, George A. Won
Lingen. Aubrey Pearre and George C. ,Jen-
kins of Baltimore, and E. r. Bacon, Will
lam A. Read, Rowland Davis. Eugene
Delano and General Louis Fitzgerald of
New York. The five New York directors,
with Messrs. Henry Bulge and August
Belmont, also of that city, are the members
of the reorganization committee appointed
by the security holders in New York and a
portion of those in Baltimore principal
among whom were the CARROTS and F'ricks,
and it was to them that the report was
made by Expert Little of the condition of
the road, together with a statement of the
causes which are said to have taken the
Baltimore and Ohio into the hands of the