The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1910-01-08
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! (From the Baltimore News,

(From the Baltimore News.J
Two OF the Pennsylvania Railroads.
most trusted officials. each recogniz.
ed expert in his line. and a former
high official of that company, also an
expert In bis line. occupy important
places IN the councils Of the Balti.
more & Ohio railroad Z. n
They are Samuel Rea,s vice presi-
dent In charge OF Operations. and Jos
eph Wood. vice president OF the lines
west OF Erie, in charge OF traffic. The
third is Captain John P. Green, former
first vice president In charge OF
finances. and still connected with the
company In an advisory capacity. be-.
sides being the chief beneficiary or its
pension system.
AS The News pointed out on we'd
nesday, Captain Green is chairman Of
the Baltimore G Ohio's finance com.
mittee. while Mr.. .Rea also is a mem.
Der of the committee. Mr.. Wood Is n
member of the. board OF directors Of
the Baltimore & Ohio. 1's
Arc, Always Consulted.
In all matters of policy they arc
consulted. They are loyal to the
pennsylvania Railroad. and as thew
were put on the board OF the Balti-
more e. Ohio first OF. all to serve The
Pennsylvania. does. any sane man for
. moment believe that they are not
always looking out for the interests or
the company to which they owe abso.
lutte allegiance?
Their connection with the BATH
more G Ohio is simply part OF their
duties TO the Pennsylvania railroad.
Nobody believes that 1t requires three
men 30 closely Identified with the man
agement Of that big railroad system to
watch the investment OF the company
IN. the Baltimore & Ohio stocks. Then
u becomes pertinent to ask what are
they there for?, They must have
known for wears of conditions on the
Baltimore & Ohio, and IL they did not
they are onen to the charge of derc-
LECTION OF duty.
Excuse No Longer Holds.
The excuse of the Pennsylvania
railroad for buying 53G,07s shares or
common stock and 24S,SO0 shares OF
preferred stock Of the Baltimore e.
Ohio Railroad Company In 1900 was
the abolition Of all rebates In freight
rates. and an open and independent
course OH that subject. The evil OF
Relating was abolished several years
ago by law, and it Is generally agreed
that railroads are obeying the law ow-
Ing to the heavy penalties inflicted for
violation of it: When the act went,
into effect the Pennsylvania railroad
sold to Hartman interests 323:342
common stock and r72,0G4 shares of It's
preferred stock of the Baltimore g.
Ohio railroad.
Baltimore & Ohio pays G per cent.
dividends OIL its common shares and 4
Per cent. OIL its preferred. and the In
come on the, preferred is limited to 4
per cent. no matter how large a sur
plus the ronh earns. In voting power,
the two classes OF stocks are equal.
The Pennsylvania railroad has been
tremendous borrower Of money in
recent years and within the last few
weeks but out more than $8O.000.000
OF additional stock at par, upon which
1t pays dividends ut the rate of per
CENT