Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-11
MEETING OF B. & o. BOARD
Directors Of. the Company Hear Annual Re-
port From the Receivers.
Statement Made That the Affairs Of
the Corporation Are I'm n Pros
porous Condition.

meeting of the beard of directors of the
Baltimore and Ohio Railroad Company
preliminary to the annual meeting of the
stockholders. which takes place Monday
was held yesterday I'm Baltimore The an
nuaI report of the operations of the COM
pany, as prepared by Receivers Cowen and
Murray. and submitted to the directors.
was approved. and the same action will. il
is anticipated, be taken at the annual
meeting.
As a matter of fact. it is understood the
board of directors, since the road went into
the hands of receivers. has no voice in the
management of the company's affairs but
1t is necessary that they should meet from
time to time. in order TO comply with the
terms OF the charter. as otherwise the cor
porate existence of the company might be-
come matter for the courts to determine.
Changes Not Probable.
1t was once believed that some changes
in the composition of the board would be
made at the annual meeting. but il is now
considered as improbable, as. with possibly
one or two exceptions. the membership
suits the capitalists who at this time con-
troll majority of the bonds. The board
as now constituted is composed of
Messrs. E.. r. Bacon, Rowland Davis,
Louis Fitzgerald, William A. Read ana
Eugene Delano of New York; Messrs. w.
H. Blackboard, W. +. Prick, Maurice Gregg
George c. Jenkins. James l.. McLane. AL
exander Shaw and George A. Won Lingen
of Baltimore.
1t is conceded that J. p. Morgan & Com
pany. vino are the representatives of about
S40.0eo.oW of bonds of the Baltimore and
ONO. would not be averse to having a per-
sonai representative in the directory. but
it is also believed that they will not make
any vigorous effort TO secure this. as. in a
statement made within a few days past,
they have virtually intimaied that they ex-
pect to reorganiZe the company. and have,
in fact. requested holders of certain secu-
rites of the company to deposit their
bonds with them. Chief among the bonds
asked for by Messrs. Morgan & Company
are those of the Baltimore Belt Line Com
pany. which built the tunnel underneath
the city of Baltimore, and which is the all
important link for the Baltimore and Ohio
between Washington and Philadelphia and
New York.
The COmpnny's Prospects.
A statement issued after the adjourn
ment of yesterdays meeting was that
everything indicated increased prosperity
for the company, provided the recommen-
dations heretofore made by Mr.. Murray
for the Improvement of the condition of the
road, and to which reference has been
made in The Star from time to time, are
carried into effect.
For some months reports have been in
circulation that Mr.. E. r. Bacon would
retire from the presidency of the Baltimore
and Ohio Southwestern Railway Company.
the majority CT whose stock is owned by
the Baltimore and Ohio company, at the
annual meeting of the first named COM
pany next Wednesday, and that he would be
succeeded by Mr.. Oscar q. Murray, one OF
the receivers of the Baltimore and Ohio.
This change, there is reason to believe,
was agreed upon, but it seems now that
Mr. Bacon will be reelected. 1t is feared
hx,S of Whn largely interest
ed in the bonds of the Baltimore and Ohio
Southwestern that if the change should be
made and a receiver of the Baltimore and
Ohio be elected president of the Baltimore
and Ohio Southwestern, confusion would
result and the credit of the company OF
which Mr. Bacon is the head be injured.
Mr.. Bacon has recently returned from a
trip to Europe in the interest of his com
pany. and while he was away Mr.. Murray
had charge In compliance with the re-
quest of the directors, Mr.. Murray made
some suggestions as to the manner of op-
Grating the road. which were adopted, and
both the traffic and operating departments
were vigorously Cverhauled and men OF
well-known ability placed at their head
AS the result of the changes made new
spirit was infused into the rank and file OF
the employees and an increase of business
followed.
increase in Earnings.
1t is said the operation for the four
months ended October 81 show an increase
| in gross earnings of about s250,000 COM
pared with the results of the same period
of las: year. and a. the property as said to
| be in first-class condition it is believed in
inside circles that no change will be made
| in the presidency.
II is somewhat of a coincidence that the
lines of both the Baltimore and Ohio and
Philadelphia. Wilmington and Baltimore
i i1r,1fr ION NrBr