The evening times., 1898-09-24
SHE WILL HOLD HER STOCK.
Maryland Declines to Part With Its
ID. & o. Holdings.

Ii. & D. Holdings.
Baltimore, Sept 24-For several days
a rumor has been current in financial cir
cles that the managers of the Baltimore
and Ohio reorganization plan were en-
deavoring to secure control of the States
holdings of Baltimore and Ohio first pre-
ferred stock, which amounts to Sis. 100.
In speaking of the matter, State Treasu-
rer Shryock said
Representatives of the Johns Hopkins
University some weeks ago requested me
to pool the States Baltimore and Ohio
first preferred stock with them. / told
them that had no authority TO do so,
but that my judgment was that the State
officials should stand by the Johns Hop
kins University in whatever position
they took in the case. l then telegra phed
to Gov. Lowndes. giving him my opinion
as expressed TO the Hopkins trustees.
The governor, in his reply to my tele-
gram, said that he agreed with my views
about the matter. ! then had a confer
ence with the Johns Hopkins University
representatives, at which / gave them my
word Calthough l was not authorized to
pool the State stock. or to let IL go out
of my hands, that |, as a member of the
them in whatever action they took TO pro-
tect the interests of the university in the
Baltimore and Ohio matter, and l in
tend to stick right there.
There has been no formal meeting of
the board of public works at which the
| matter has been discussed. However. l
am satisfied that Comptroller Goldsbor-
ough agrees with me, as did Governor
Lowndes when | telegraphed him about
ha al fli nd I lnIi tba t.
of the same mind at this time.
1T is a fact that L have been approach
ed several times recently and asked if /
would consider an offer for the State
holdings of Baltimore and Ohio stock. To
all such queries my uniform answer has
been that / would not. l feel that mas
much as the State of Maryland sold a
| large portion of its holdings of Baltimore
| and Ohio first preferred to the Johns
| Hopkins University, and at the last sas-
sion of the legislature appropriated a
| large sum of money for the institution.
| thereby showing our interest in the uni
versity, the only proper thing f,r the
| States officers TO do is to stand by the
| institution now. AS one member of the
board of public works l have given its
| officials my word to do so. and l do not
, think there Is any power on earth to
| make me violate this promise.
me today for the stock l would not ac-
| cept 1t in the face of this verbal agree
ment with the Hopkins representatives.
| If the Hopkins people should decide to
| sell their holdings at 10, the board of pub
| lie works would then consider the propo-
| sition."
Receiver Oscar G. Murray was at the
| Baltimore and Ohio Central building yes
terday on his return from the West.
10 nod 70 ggRH
to the statement made by Mr.. Cowen as
10 the deal by which prominent North
western capitalists had taken a large in
| terest in the Baltimore and Ohio Rail-
road. This arrangement. he said. will
be beneficial 10 the railroad. and Will be
| advantageous 10 the city of Baltimore.
| Since l have been in Baltimore l have
| found the business men quick 10 respond
to the conditions that would add to the
trade of the city. and my experience with
| the shippers of the city has demonstrated
! TO me that they are ever on the alert to
| develop the business of Baltimore
| Asked to what changes would be
| made by reason of the new interests in
| the property, Mr. Murray said:
Such suestion l cannot answer. as
| both Mr.. Cowen and myself are a pres
ent officers of the court and have the
| property in hand. When the reorganiza-
! llDI Is ptI4tIltu anu Niit iEH bOGilh VI
| directors goes in. then will be the time
| 10 make such inquiries
! Mr. Murray added that he could see no
| reason now to talk of changes in the Off
Gals of the property. In the operating
| department" he continued. Mr.. Greene,
as general manager. has been an un-
| doubted success. He had before him one
| OF the most difficult transportation prob
| lens which has ever been presented to
| any official. There is no difference Of
| opinion as TO the success with which he
has met the condition and worked out a
satisfactory solution. With equal force
the same applies to Mr.. Wight, in the
freight department. and TO Mr.. Martin.
| in the passenger department. So there
does not appear any good reason to talk
! OF changes "a
Speaking of the railroad and freight
| rates, Mr. Murray said: For the past
| ten or twelve years the tendency of rail-
| road rates has been downward. There
| has been no appreciable success to any
| movement toward increasing rates and
feel that railroads have little, If any, re-
| lief to look for in this direction. Perhaps,
temporarily, betterment of conditions
| may be secured, but nothing permanent
| seems to offer itself now
The only thing that could be done dur
| ing the period was to devise means to
| cheaper the cost of transportation, and
| many of the railroads of the country de-
voted large sums to this purpose. The
Baltimore and Ohio, however. was I'M
| able to take up the only practical way
| of maintaining its revenue in the face ot
a steady decrease in rates. In the past
| two years much has been accomplished
and there is still more to be done in this
direction
OF business conditions in the West, Mr.
| Murray said that he found widespread
| confidence in the outlook, and the genera
feeling was that prosperous business
| year was ahead. THE grain business,
| he said, has fallen off in comparison
with this time last year This is due ir
| a measure TO the farmers holding theil
| wheat. Last year they made money, anC
| are now in comfortable position, st
they are slow in parting with their wheat
| General merchandise business on the roaC
is very fair, and despite the fact that WE
have put on a number of new cars, we
are still short. The 5000 new cars be,
| ing constructed for the Baltimore anG
Ohio are being received from time tc
time. Thirty new locomotives are alsc
being built, and when all of this equip
| ment is received our position for handling
| business, which has been constantly i'm
| proving. will be further advanced"
CAPTURED THE FIRST FLAG.