Evening star., 1938-09-29
j. S. TAKES OVER
CANAL OWNERSHIP
$2,000,000 Federal Check
Handed Over by Ickes
to Complete Deal.

Ownership Of the historic Chesapeake
q Ohio Canal, for the building of which
Gen. George Washington organized
private company in 1884, today was
vested in the United States Govern
ment.
Negotiations for the purchase of the
185-mile waterway from Georgetown
to Cumberland, Md, for conversion
into a recreational area ended late
yesterday when Secretary of the In
terror 1ckes exchanged 100000
Treasury check for a deed from the
receivers OF the canal company.
The National Park Service, which
will be the custodian Of the canal, was
free to 60 ahead unhindered in plan
ming its future development. Secretary
1ckes is expected to make $500.000
Immediately available for this work.
Initial Plans Ready.
The initial stage of the park de-
velopment will be between Georgetown
and Seneca, Md, distance Of %
miles. Extensive plans for this area
already have been drawn up.
An informal ceremony was held in
Secretary Ickes' Office at which he
gave the check to Roger S. B. Hartz,
a special representative of the Balti-
more g. Ohio Railroad. principal own
er of the canal company's stock. Mr..
Hartz was one of the receivers. An
other interested spectator was G.. l..
Nicholson, manager of the canal COM
pany, which ceased commercial opera
tions some years ago.
The minute book of the Potowmack
Co.. which George Washington and
some Of his associates organized, also
was presented to Secretary 1ckes with
the title. This really historic volume,
bound in a worn brown leather cover,
reveals Washington's signature. as
president of the company, on pages
ls and 81. 1t will be carefully pre-
served as a relic in the Interior De-
partment's museum.
Reorgan nized in 182Os.
The minute book records the acts
Of the president and directors of the
company between 1875 and 1907. The
Chesapeake e. Ohio Canal Co. sue
ceeded to the rights and franchises
of the old Potowmack Co. when it
was later reorganized in 1924 and
1925 under a charter granted as a
joint action of the States of Maryland
and Virginia and the Federal Govern
ment
Minutes from the old record showed
that the Potowmack Co. was having a
hard time then to get its subscribers
to make full payment on their stock.
At meeting on June 26, 1887. with
Gen Washington presiding. the direc-
tors ordered that the Speediest meas
ures be taken to have all stock arrears
paid over to William Hartshorn, the
treasurer
The minutes on that day were
signed by Washington, George Gilpin
and John Fitzgerald.
Finnan to Aid in Development.
Others attending the exchange cere-
mony included c. Marshall Finnan,
superintendent of the office of National
Capital Parks: Donald Lee of the legal
staff of the National Park Service and
Nathan Margold. solicitor of the Inte-
rior Department. Mr. Finnan will
have a direct hand in planning for
much of the recreational development
in this area
The check will be deposited today in
. New York bank and most of the
S2,000,000 will 60 back to the Recon-
struction Finance Corp, from which
the Baltimore & Ohio Railroad is a
heavy borrower. The railroad COM
pany had put up the canal stock as
partial security for loans
Ofhcials said the $4,000 payment,
which had to be approved by courts in
the District and in Maryland, came
from profits resulting in the sale of
p. w. A. bonds by the R. F. c.