Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-06
RECEIVER FOR W.M.R.R
HISTORIC RAILWAY EMBAR-
RAISED BY HARD TIMES.

BALTIMORE. Md. March 6.-Unable
to meet obligations which will ma
ture April J. 1905 the Western Mary
land railroad last evening passed into
the hands of receiver. Judge Morris. in
the circuit court of the Enited States.
district of Maryland. signing the order
upon the application of the Bowling
Green Trust Company. Mr.. Benjamin
Franklin Bush. president of the road. was
appointed receiver. He gave bond for
100000. The receivership does not come
with any surprise to financial circles. in
which the rumor of probable receiver
ship has been current for some time.
The papers were signed in the office of
Cans & Hannah, who, with Thompson.
Eanderpool & Freedman. New York. are
solicitors for complainant. Others pres
ent were Messrs. Bush. George X. Gather
and Lawrence Grier, of counsel for the
Western Maryland
The Western Maryland has outstanding
loans maturing April 1. 1908. to the
amount of s3,7767JO. secured by pledge
of so.037,000 of its first-mortgage bonds.
The company was unable to meet these
loans or to provide additional collateral
to secure their extension. In this situa-
ton it was naturally unable to borrow
money necessary to meet mortgage inter-
est due April /. The situation has been
of officers and directors. President B. F.
Bush having been in New York practi-
cally all of this week. returning only last
night. In letter to the board he stated
the situation. and the receivershfp was
the only alternative.
Chartered in 1852.
The Western Maryland railroad was
chartered in 1852 At that time there was
crying need for a railroad to traverse
the western portion of Maryland. Com
munities in that section were entirely
without railroad connections. this condi-
ton, in large measure, preventing a
healthy development. Enterprising bust
ness men got together. deciding to build
railroad at all hazards. Success crowned
their efforts, and finally. from an in
significant road, the Western Maryland
became most important branch of one
of the greatest systems of railroads in
America-the Wabash.
The lines of the Western Maryland
traverse three states-Marylahd, PennsyI-
vania and West Virginia. Although the
projectors of the road may not have real
lied 1t at the time, they paved the way
for the opening up of some of the most
beautiful country in the world, with its
unsurpassed mountain scenery. The Blue
Ridge mountains. with their inspiring
scenic splendorS, are dotted here and there
with delightful summer resorts. including
Such pidceS dS Hen-MdT, Buella vista.
Monterey and Blue Ridge Summit The
road also owns direct line to the historic
Gettysburg battle-ground, and special ex-
cursion trains run during the summer
months. carrying hundreds of sightseers
to this famous spot
Roads Splendid Record.
The. late Gen. John NJ. Hood, who had
much to do with it's building up and es-
Establishment a successful enterprise,
became associated with the road as It's
vice president January IL. 1874, and as
| sumed the presidency March ~ of the
same year.
The Western Maryland was originally
the Baltimore. Carroll and Frederick
Railroad Company. and did not adopt it's
present name until one year after 1t had
received it's charter from the Maryland
legislature. -.......
The first construction work on the road
was begun in July. 1851. and the first sec
| ton of about forty miles was opened in
November, 1862.
The company absorbed. November l.
1908. the Potomac Valley railway. the
Western Maryland Tidewater railway. the
Coal and Iron railway and the Belington
and Beaver Creek railroad.
In 1902 came the climax in the history of
the road. when it was purchased by the
Fuller syndicate, thus passing into the
hands of the Gould interests.
The amount paid for the property was
more than $4,000. 600
At the time of the sale the Western
Maryland was indebted to the city OF
Baltimore in the sum of $122O3. 14S71.
A link connecting the Western Maryland
with the West Virginia Central and Pitts
burg road was constructed and placed in
operation in February 1906