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1106 JOURNAL OF -PROCEEDINGS [Mar. 26,. Balance Block, other than that owned by State and City. ................................$13,072,900 00 If this were taxable—State Tax at 19 cents per $1.00, present rate would be .......... $24,838 61 The Baltimore and Ohio Railroad Company declared its willingness to adjust the whole controversy between the State and itself, upon the following basis : The Baltimore and Ohio Railroad Company ashed the State of Maryland to release it from the payment into the- State Treasury, of the charge imposed upon sums received from passengers transported over the Washington Branch Road since the tenth day of December, 1870—the period at which it reduced its fare between Baltimore and Washington, and on all fares on the Washington Branch Road, in consequence of the judgment of the Superior Court of Balti more City, rendered upon that day. As a consideration for this release, the Company agreed, to reduce its maximum rate of fare under its charter between Baltimore and Washington, from the sum of (2.50, fixed by the Act of 1832, (chapter 175,) to $1.50. The Company further agreed to pay, at once, into the. Treasury of the State, the proportion of the passage money on the Washington Branch Road claimed by the State, and ascertained by judgment, to January 1st, 1870. It also agreed to pay into the Treasury, before the first day of July, 1872, the one-fifth of the receipts from passen, gers on the Washington Branch Road, from January 1st- 1870, to January 1st, 1871. It also agreed to pay into the Treasury twenty-five- thousand dollars in lieu of the charge upon passenger re-*. ceipts for the year ending January 1st, 1872. It also agreed to pay in perpetuity, out of the gross re- ceipts of the Washington Branch Road, in each and every year, after January 1st, 1872, the annual sum of twenty-five. thousand dollars. Although of the opinion that the details of this proposed settlement should be included in one bill, it expressed its willingness that these propositions should be embodied in resolutions reported by the Joint Committee, being satisfied if the resolutions passed by a sufficient majority to show that the Senate and House would give effect to them by proper legislation, to pay into the Treasury the principal sum. claimed "to January 1st, 1870, with interest due thereon. , |
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Proceedings and Acts of the General Assembly, 1872
| Volume 190, Page 1106 View pdf image (33K) |
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