AMERICAN RAILROAD JOURNALS 67:7 modation of the travel destined for Cincinnati, St. Louis, and other points beyond its western termi- nus. Pittsburg for many years past has had the advantage of a daily line of packets running regu- larly between that city and Cincinnati. To have opened this road, without facilities, at least equal to those enjoyed by a rival interest, so far as the river navigation is concerned, might have been at- tended with serious drawbacks, and tended to neu- tralize the otherwise decided advantages which the Baltimore route will be found to possess, both as to time and distance. In ascending the Ohio river, the passenger is one day nearer to Wheeling, than he is to Pittsburg, and the time consumed in the tran- sit between those eities, would place him in Balti- more in almost the same time he could reach the latter city. The importance then of a line ofboats working in connection with this road, and regulat- ed by its time schedule, was deemed of sufiicient interest to engage the earnest attention of the board. The board are happy now to be able to state for the information of the stockholders, that a compa- ny has been organized, under a charter passed by the legislature of Virginia, and arrangements made bg which this tlifliculty will be effectually obviat- e . A daily line of boats, ofa class superior to any that have yet floated upon the western waters, is in rapid progress of construction, and will be ready by tpe 1st of’ January, to run in connection with this roar. These boats measure 300 feet in length-conb bine all the modern improvemcnts——both as to mod- el and machinery, antl the appointments necessary to the comfort of‘ passengers; and will be under the management of the most experienced and sltilful officers.-—They will run daily between Wheeling, Cincinnati and Louisville, and will so regulate their time of arrival and departure, as to fall in with the movements of the cars running over the Baltimore and Ohio railroad, between Wheeling and Baltimore. With these facilities which may be held out by this line, it is not doubted, that the through travel will be greater than that of any oth- er road in this country, atthose periods of the year when the river is in a navigable condition. II.——or '1‘I~Il?. com; 'l‘ltADE. The coal trade has not developed during the year with the rapidity that was anticipated at the date of the last annual report. Nothing has occurred, how- ever, to shake the confidence of this board, in the opinions heretofore expressed, not only in reference to the value and superiority of the Cumberland coal, for steam and manufacturing Pkirposes, but the point at which it must concentrate, and which will be found most advantageous for distribution on the seaboard, in its transit to more distant markets. The aggregate transported during the year has been 206,290 tons; of which 25,794 tons have been con- sumed in the operations of the road. This amount would have been greatly increased, buttor the fail- ure in October last ofthe Maryland Mining Com- pany, and the almost total suspension of the trade from that time to April 20th, owing to the confusion resulting, in the main, from this untoward event. The demand for the article was also greatly inter- fered with, by the prevalence of high freights, and the existence of the heavy pilotage, which has here- totore-operated so disadvantageously to this depart- ment of trade. ' The board are happy to announce, that these drawbacks have ceased to exist, and the demand for cars on this road has exceeded what it has reached at any former period; and is at this mo- ment limited only by the capacity of the company to provide the means of transportation. No subject which has heretofore occupied the attention of this board, is of graver interest than that of the coal trade at the present time, and this company have at no period hesitated as to their du- ty, in forwarding, to the extent of their ability, what they believed to be the true interest of the State, the city and the stockholders, in this connec- tion. The mineral region of Allegheny belongs to the State of Maryland; and the development of its wealth and resources is a matter which can never be lost sight of by those representing her interest in this road. Apart from the more expanded view which this board feel bound to take, the idea of a concentration of the coal trade at any point beyond the limits of the State, is one which has never been entertained. The city of Baltimore, contributing one half to the taxes of the State, and representing nearly a moiety of the stock in this road, must be the legitimate recipient of whatever incidental ben- efits this trade may be expected to produce, and the State at large will add to her manufacturing and mechanical pursuits. and the growth of her popu- lation and wealth. Those who could look with in- difference upon the importance of the coal trade to the city of Baltimore, andits possession by the Dis- trict cities, may profit by the experience of Phila- delphia, and her connection with the public works and mineral region of that State. The board have reason to believe, from applica- tions now before them, that an amount exceeding 500,000 tons of coal, could be disposed of during the coming fiscal year——and there are parties be- lieved to be reliable, who would be willing to guar- antee a steady transit of from 1,600 to 2,000 tons daily. The demand for this coal has been increas- ed, by the reduced rate at which it isfurnishcd, owing to the abatement of 25 cents in the transpor- tation, some 15 cents pilotage upon vessels seeking our harbor, and the destructive effect of anthracite coal upon the machinery of vessels, which have been compelled to use this fuel on account of the difliculty of procuring any other. In the application now pending for an increase offacilities over this road, it is undcrst0o:l a decid- ed preference is expressed for the. Baltimore mar- ket; and no attention will be given to ether chan- nels of communication, until the inability of this company, to afihrtl the requisite accommodation, shall be clearly establishetl. In view, then, of the importance of this trade, both to the company and the city of Baltimore, the board will find it necessary, at an early day, to de- liberate upon the policy proper to be pursued, in order to meet the increasing demands which are likely to arise. The subject will involve consider- ations looking beyond the mere expenditure for ad- ditional cars and machinery. The vast tratle of the west will tax, it is believed, to the fullest extent, the capacity of a single track, after‘ its opening on the first of January. Extensive sitlings will be in- dispensable; and it may be, with the announce ment of the settled policy of‘ this company, to give encouragement to the coal trade, a twelve month will scarcely elapse, before provision will have to be made for a secontl track from Baltimore to the mineral region. The subject is one of sufficient gravity to invite the most liberal interchange with the stockholders, in reference to the course proper to be pursued. With the board there can be no hesitation. The amount of coal which might be transported over this road during the coming fiscal year, if the company were in a situation to invite trade to the fuilest ex- tent, would produce a gross revenue of more than :B;1,000,000—-an item which may well illustrate the value and resources of this great work, and its pro- bablc results at some not distant day. In any arrangement, however, which may be made, in reference to an increase of accommoda- tion, the board must keep a steady eye to the actual wants of the trade, and guard the company against the possibility of re-action, or a curtailment ofthe demand, which could in any mannerinterfere with the full employment of such power as may be pro- vided, and the regularity of their operations, on which the maintenance of the existing low rates of toll must always so mainly depend. Among the applications now before the company is one from the Cumberland Coal and Iron compa- ny, for 1,000 tons per day, to be increased hereafter as the convenience of the company may justify. The Frostburg company have applied for a daily transit of500 tons. The Bordon company are now transporting 200 tons, and all other companies say ‘ 250 tons. This trade, it is perceived, is wholly independent of the vast coal field, which is about to be penetra- ted by the George’s Creek railroad, now in rapid progress of consttuction—-and which will connect with this road in the vicinity of Piedmont. These operations, so far as the company are enabled to judge, will be placed upon a sound and permanent footing, and will give the most active employment to the machinery and power of this road, at periods of the year when other roads depending upon a mixed traffic, are more or less inactive. The results of their past operations fully encour- age the maintenance of the low rates which have been adopted, and the board feels no desire, at pre- sent, to disturb their existing tariff. ' This road is not dependent upon its coal trade alone-—-with the power to control a trafiic in this single article—al- most as extensive as that of the Reading road-— they have other sources of revenue upon which to rely for their profits; and in the multiplicity and vastness of their resources, coupled with the mere nominal rates at which fuel may be procured, at almost every station upon their line, they do not hesitate to express the conviction, that the expenses of transportation will always compare favorably with any other road in this country. Connected with this subject of the coal trade, the stockholders were apprised in the last annual report, of a plan then in contemplation, to organize a line of boats to ply between this city and New York, at regular stated intervals. The board are hap.y to announce, that this plan is about to be carrier into effect by the Cumberland Coal and Iron company; and may be expected to add greatly to the facilities of’ the Baltimore market, in its connection with the coal trade, as well as the westward transportation which will be carrictl on by means of this line. The board feel encouraged at the reasonable pros- pect of securing to the state ot'Maryland and the city of Baltimore, the benefits of this important trade.—-They have found in it their most certain and reliable resource, at times when they have felt most severely the rivalry of works, whose advanced progress had given them a temporary advantage. But apart from the direct interest which they have felt in the possession of’ so important a trade, they could not, without a struggle, at any time, witness its establishment beyond the limits of the state of Maryland, to which it belongs, or her great com- mercial centre, whose wealth and prosperity and the activity of whose industrial classes, it must so largely contribute to advancefi‘ II[.——or rim WASHINGTON BRANCH. The operations of the Washington Branch have been concluctetl with their usual results. The receipts from passengers, mails and mer- chandise, have been :ll;348.t3‘2‘2 70, showing the hand- some increasc of’ $30,087 01, over last year. The expenses have been 3{3132,385 3|, a decrease of $14,- 295 85 in this item. The net revenue is thus shown to be 313216.237 45, out of which the board have declared a dividend of four per cent. for the half year ending 30th Sept., payable on and after the 15th inst. This added to the dividend in April last, will make 8 per cent. for the fiscal year. The bonus of the State during the half‘ year amounted to {$31,842 32, and for the whole year, to the large sum of $859,826 69--an interest at 6 per cent. upon a capital of $1,000,000. Her receipts rom this road, during the fiscal year, have been more than 18; per cent. upon her investment of $550,000! ! The new station at Washington is now entirely completed—-and compares favorably with any in the Union, for comfort and convenience of arrange- ment. The company havc been subjected to much additional expense, owing to the roughness of the location, and the necessity for excavation and grad- ing, as well as a heavy tax for improving the streets and avenues communicating with the city. The passenger trains have been moving with in- creased speed, and an uncommon exemption from accident, considering the number of miles run.-—-- The steady increase of Southern travel, in the face of the temptation held out by other routes, coupled with its irnprovin local business, show the value and importance of this branch; and its activity will * Since that part of the annual report relating to the coal trade was prepared, a contract has been agreed upon with the Cumberland Coal and Iyon company, by which that company stipulate to fur- nish capital for an increase of their present coal power to 100 cars per day, say 300,000 tons per an- num, and to establish a line of propellers and barg- es between this city antl New York, at a cost not to fall below $100,000, but which may be increased to $300,000, or more.