Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1899-10-27
WORSE THAN A STEAL.
The Proposed Transfer of the Chesa-
peake & Ohio Canal to the Baltimore
& Ohio Railroad.
A Property that was said to be Worth
$s,00O,O00 in 1890 to 60 now for
100000.
Of the $500, 900 the State Will Get but
300, 900.

published by authority of the Maryland
Democratic Editors Association.)
When in 1890 the Board of Public Works,
tised to lease the Chesapeake and Ohio Ca
nal, and a bid was received and legislation
to consummate the lease was proposed, there
was strong protest against the lease by the
Baltimore and Ohio Railroad interests.
In November, 1898, the Board of Public
Works advertised for bids for the sale of the
canal, and but one bid was received. That
bid was In the interest of the Baltimore and
Ohio Railroad, and was far below the bid of
1890.
The proposed lease OF 1890 was designated
as a steal II such it was, then there is no
word in the English language adequate to
characterize the proposed sale Of 1899
The proposition OF 1890 was from the
Washington and Cumberland Railroad
Company, whose incorporators were Enoch
Pratt, a well known Baltimore fnancier;
David L. Bartlett, of Bartlett, Hayward &
Co; Johu A. Hambleton, the Baltimore
banker; A. Willison, OF Cumberland; Mar,
tin N. Rohrbach, a wealthy business man,
of Frederick; E. Kurtz johnson, a coal
dealer of Washington, d. O., and Hattersly
w. Talbot, a lawyer of Rockville. This
company proposed to lease the canal, with
its property and franchises, for 80 years, re-
Movable forever In consideration of the
execution of the lease the Washington and
Cumberland Railroad Company proposed
to pay within six months from date of the
lease
Principal and interest of the repair bonds
issued under the act of 1878, Chapter IS,
then amounting, according to Governor
Jackson's message to the Legislature, to
about 100000
Seventy thousand dollars ($70, 000) to be
applied to the payment of claims for work
labor and materials which accrued between
January l, 1877, and January l, 1890;
Thirty thous md dollars (30000,) to be ap-
piled 10 the payment of judgment against
wharf property In Cumberland.
Twenty five )25) per cent. Of the principal
of the construction bonds OF 1874, said 20
per cent. amounting to $424y875; and
Fifteen thousand ($15, 000) annually to the
State of Maryland, alter the completion OF a
single track from Cumberland to Williams
port.
OF this proposition the Annapolis cores
pondent OF the Baltimore Sun, under date of
February s, 1890, said: "If accepted, the
capitalists behind the new fedged railroad
company will have the cheapest and most
eligible right of way for their line that has
been secured by any corporation on the At
lantic seaboard for years. For long while
it has been the talk that the canal would be
cheap at $2,O00,OOO."
Mr.. John K. Cowen, then chief counsel of
the Baltimore and Ohio Railroad, afterward
receiver and now president, gave this inter
view to the Baltimore Sun, published in the
issue of February 8, 1890:
"rhe price at which 1t is proposed to &C
Quire the canal when capitalized at b per
cent. amounts to 81 1854, 1915. This price Is
totally inadequate to the value Of the prop
erty which II is proposed to purchase. The
canal as roadbed, graded and bridged
throughout its entire length, is worth at the
lowest calculation, without counting the
tunnel or aQueducts, at least 100000 mile
The total length is 1874 miles. and 1t would
therefore be worth at least $360OOOO. But
there is a magnificent tunnel which affords
the one point of access to Western Mary
land by which railroad could be construct.
ed without having heavy grades to overcome
or several tunnels to build. This tunnel
alone is certainly worth a million dollars to
any railroad desiring to construct line
along the canal. The aqueducts covering the
streams between Cumberland and George
town are numerous and they are built OF the
most solid masonry, thus relieving the rail
road from the necessity OF building expen
sive bridges and piers; and these aqueducts
alone, it is estimated, would be worth TO the
railroad company from million and half
to two millions of dollars. 1t Is
well known that there are large amounts OF
property in the city of Cumberland, now
occupied by the canal, lying between the
West Virginia Central and the Baltimore
and Ohio (rallrosds) which for manufac-
turing purposes would be valuable prop
erty and worth, 1t is said, t"om two or three
hundred thousand dollar There is prop
erty 10 the District OF dmbla valued at
from a million to millp md half dol
lars. And now the state Of Maryland Is
asked to give away all OF this valuable prop
erty for the pititul sum of $4,000 year"
If Mr. Cowen's estimates OF value be foot
ed up, and the lowest figures taken, the
value OF the Canal In 1890 was $730O,OOO,
as follows:
1874 miles Of road bed at $4,000
Der mile............................ &3,8SO,OOO
Tunnel ACKNOWLEDGEMENTS. 100000
Aqueducts from $l,500,OOO to
$2,000,000) ............-...."." 100000