Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1899-09-09
SALE OF A RAILROAD.
The Baltimore, Chesapeake And
Atlantic Changes Hands.


The Pennsylvania Railroad has pur-
chased controlling interest in the Bal
timore, Chesapeake and Atlantic Rail
way Control was obtained by buying
= 600 900 of the securities of the com
pany. BY this deal the Pennsylvania
Railroad secures a dominant position
Anne's Railroad is now the only line ON
the Eastern Shore which is not owned
hv the Pennsylvania
President John : Wilson. of the Bal
timorc. Chesapeake and Atlantic RaIl
way. Yesterday made the following
statement in reference Ia the deal The
report is correct My belief is that the
late owners Of the property arrived al
the conclusion 10 sell rather suddenly,
and thciraction WIS probably stimulated
by the recent declaration of the Balti-
more Appeal Tax Court 10 tax the pro-
pertv | stated in former interview
that the late owners had invested with
the distinct and explicit understanding
that the property was free of tax for 30
years. and that all its earnings over
expenses and fixed charges were To be
invested III improvements. No divi-
dends have been paid.
II look upon it as exceedingly fortu-
nate that the property has gone into the
hands of the Pennsylvania Railroad.
company everywhere known for its
broad and liberal management and
policy. do not anticipate any radical
changes in either the management or
the policy of the company unless such
burdens should be put upon it rs will
make an advance in its rates necessary
fori its protection. Should such advances
be found necessary. il seems to me that
the city of Baltimore, would lose more
than the taxes many times multiplied "
Mr. John T. Scarlcs. of New York,
the principal owner of the Baltimore,
Chesapeake and Atlantic. effected The
sale through the banking house of Scott
4 Co. of Wilmington, Del. For the
present the management now in charge
will continue TO operate the property,
which consists in part of about 30 miles
of railroad, extending from Claiborne to
Ocean City Between Claiborne and
Baltimore transfer service Is operated
across the bay. "A distance of 81 miles.
There are Ia steamers III the service of
the company on Maryland and Virginia
rivers, and the aggregate mileage of
the rail and water lines is over BOO
miles. The company has about 100
wharf properties. Its capitalization
consists of 81 .2j0,0 900 of ) per cent. first
mortgage bonds, 81. 800. 600 of preferred
stock and 81 ,o00,000 of common stock.
The company was organized September
/, 1894. and purchased at foreclosure
sale the property owned by the Balti-
more and Eastern Shore Railroad Com.
pany II afterwards bought the pro-
pcrties Of the Eastern Shore, Maryland
and Choptank steamboat companies
Mr.. John Il. SearlcS who is the prin-
cipal owner. was formerly secretary OF
the Sugar Trust. and is one of the vice
presidents of the International Trust
Company. He j. also al the head of
the syndicate which controls the round
bale cotton system, and is actively
identified with a number of other
| corporations The gross earnings of
the Baltimore. Chesapeake and At
lautic Railway Company for the year
ended August 81 were S600,000. Its
officers are: Chairman of board, John
+. Searlcs. New York, ~ Y; president.
John :. Wilson, Baltimore: -presi-
dent, Nicholas p Bond, Baltimore;
directors. Jno. t. ScarleS, New York:
Dixon, Easton. Md; Wilbur f. Jackson,
Baltimore; Winthrop NJ futile. New
York: Samuel Bancroft. Jr, Whining
ton. Nicholas r. Bond, Baltimore: Hon
j. Upshur Dennis. Baltimore: Henry =.
Scott. Wilmington. Carroll :. Tyson.
Philadelphia; Walter Il. Miller, Sails
bury, Md; Elhu Il. Jackson, Salisbury.
Md, Harlan G.. Scott, Wilmington: see
rotary and treasurer. Winthrop NJ Tut
/ tie. New York: +. u Joynes, general
superintendent; \. j. Benjamin, super
intcndcnt railway division: w L. Roth
stein, auditor; r Murdoch general
passenger agent; J. Sawyer Wilson. .Ir..
general freight agent executive com
mittecc, John Il. Scarlcs. New York:
II. +. Scott, Wilmington: Nicholas r.
Bond, Baltimore. Mr. John ). Wilson,
the president was formerly one of the
freight traffic officials of the Pcnnsyl-
wanna Railroad
For the sake Of fun. mischief is
done \ vast amount of mischief is
done, too. because people neglect 10 keep
their blood pure This mischief. for
tunatcly, may be- undonc by the faith
fui uS.. 80 II.,Iss Gursauarill., tt,.I'..