The times., 1898-03-03
MARYLAND'S Trunk LINE
Legislation Looking TO a Reor-
ganizaiiOn of the B. & 0.
TO PREVENT DIoMEMBERMENT
The Incoporators Represent All In
terests and Are Not Under the
Control of Any Clique Cnnside T
1t Wise to Properly Anticipate
Any Contingency.

Annapolis, March 2.-Delegate John S
Writ introduced into the house of dele
gates today bill to provide for the COM
plete reorganization of the Baltimore and
Ohio Railroad Company The incorpora-
tors named in the bill are: Messrs. Louis
Fitzgerald, Henry Rudge, Eugene Delano
and e. r. Bacon, of New York; George
II. Earl, jr.. of Philadelphia; Alexander
Brown, John Gill, Edwin Warfield: :
| James Bond, j. McKenney White and
Thomas ]. Hayward of Baltimore.
The bill does not set forth in detail a
scheme of reorganization but simply
gives power to the parties named to re-
organize the road, should such a thing
become necessary before the legislature
meets again in 1900 1t is intended to an
ticipate the efforts of others. 1t is claim
ed that the incorporators represent all
interests and are not under the control of
any clique.
With the measure was given out a
statement on the part of the proposed in
corporators that the bill was not intro
| duced because it was not at all certain
| that the property must be sold under fore
| closure and reorganized, but because the
| friends of the road consider it were to
| properly anticipate any contingency, and
| that the bill should be passed because
| under the general railroad law of
| Maryland a corporation can only be or
| ganized to purchase and reorganize sin
| gle railroad sold under one mortgage ut
! one sale.
'It would therefore" says the state
ment, "be impossible to organize
| corporation as the law now
| stands to purchase and reorganize
| the whole Baltimore and Ohio railroad
| system because that system is composed
| of many separate railroad companies COW
! cred by many different mortgages. 1t is
| universally conceded that it would greatly )
| injure the value of the Baltimore and Ohio
| if it should be broken up and sold piece
| meal and clearly the interests of the
| State OF Maryland and the city of Balti-
| more demands that the great trunk
| line which connects Baltimore with
| the West and makes it one of
| the greatest grain exporting ports of the
country should be maintained as a whole
| and not parceled out among rival roads
| leading to rival and competing cities The
| bill must also be passed if Baltimore is
| to remain the home of the Baltimore and
| Ohio as it has been since the road was
| built.
| IF the bill is not passed and a reorgani-
| zation of the railroad becomes necessary
before the next session of the legislature,
| the friends of the road, in order to pre-
| vent its dismemberment, must apply to
| some other State for the necessary char
| ter to enable the purchasers to take the
| railroad as whole. This would probably
| necessitate the establishment of the
offices of the new company outside OF
| Baltimore in some other State.
THE gentlemen named in the bill repre-
! sent all interests. and have not been Sc
| lected for the purpose of furthering the
| interests of any special party or clique
| The bill merely puts these gentlemen or
| their successors i'll the position of being
able to properly reorganize the Baltimore
and Ohio Railroad Company if such a S er
is found to be necessary. 1t merely vests
| them with power which the general rail-
| road corporation law does not at present
contain"
1T is intimated that the bill was written
! or prepared under the direction Of Re
ceiver John X. Cowen, of the Baltimore
and Ohio and is solely in the interest OF
the New York reorganization committee
| Mr.. COwen is out of the city and the in
corporators refuse absolutely TO discuss
the bill.