The Cape Breton News says that the quantity of coal shipped at the Sydney mines to the 1st of August, 1856, was 28,368 chaldrons: shipped to the 1st of August, 1855, 25,500 chaldrons; showing an increase over last year of 3,278 chaldrons. FREIGHT ON CUMBERLAND COAL. We present an interesting sketch of the proceedings of the Baltimore and Ohio Railroad Company at a meeting of the stockholders, at which it was determined to advance the freight on Cumberland Coal fifty cents per ton : The regular monthly meeting of the Board of Directors of the Baltimore and Ohio Railroad Company, was held at the office of the Company in Balti more. The official report of the business of the road for the month of August was presented, and shows the receipts to have been as follows: These figures, compared with the returns for August of last year, exhibit the large increase for the past month of $86,109 60. On freight on the main stem the increase is $72,912 21, and on passengers $9.723 92; on freight on the Washington branch the increase is $460 60, and $3,012 87 on passengers. The aggregate receipts of the last eleven months, on the whole road, show a total of $1,399,339, 49, which is an increase of $663,992 18 over the receipts of the corresponding period of the previous year. It will be seen that with the earnings of the present month of September (which are expected to approach $500,000), added to the above total of $4,399,339 49, the gross revenue of the fiscal year, ending October 1st, will be within $100,000 or so of the round sum of $5,000,000. The board had a lengthy session, and had under discussion one or two matters of considerable public interest-the principal being the proposition to advance the freight on coal 50 cents per ton, and at the same time add an increase of power for the accommodation of the trade. Both sides were duly heard on the subject, and in the debate the reasons and arguments for and against the measure were elaborated with considerable earnestness. The advance was finally carried by a vote of fifteen to fourteen, and the idea is held out that in consequence the coal trade will now be better accommodated by the railroad company than it has ever been, and the coal dealers of the Cumberland region be thus enabled to meet that pressing demand for the article which is known to exist to an extent which, heretofore, they were unable to do on account of the Baltimore and Ohio railroad not, under the circumstances, supplying in full the necessary cars and motive power. The subject came up on a report from the committee on transportation and machinery, to whom the matter had been referred at a previous meeting, and of which John H. T. Jerome, Esq., a city director, is chairman. The report sets out with a statement of the cause of delay in acting on the subject, which was in consequence of the committee having been instructed to confer with the city council on the subject; but having informed that body of their readiness to do so on the first day of the session, they have yet received no answer. In order to report fully on these subjects, the committee presents the subjoined statements: The Baltimore and Ohio Railroad Company has always appreciated the value and importance, present and prospective, of the Coal trade, and for a long series of years has struggled, at periods making great sacrifices, to introduce into consumption, to develope, and to maintain the traffic, in this, the most important of the resources of Western Maryland. Notwithstanding, parties claiming to represent the great corporations, which own, and work the mines of the Cumberland region, under influences principally beyond the limits of our State, have publicly and privately resorted to the most extraordinary means to arouse prejudice, and to create a want of confidence in the management of this company, by gross misrepresentations of facts, by the most unfair and insidious statements regarding the policy of the company, and by equally unjust insinuations against a portion of its directors; yet the company, on the broad principles by which it is governed, in all legislation, affecting the interests of the State of Maryland and the city of Baltimore, proposes to continue to pursue a liberal policy to the coal trade. In the infancy of the business a low tariff on coal was urged upon this company, on the ground that when introduced, and its great merit, as a fuel, for many purposes, was understood and appreciated, it could readily afford a fully remunerative rate of freight. Yet we find at the commencement of the coal trade in 1844, the rate per ton to Baltimore was $3 66, which continued (with the exception of a special contract of 1 2-3 cents per ton per mile) until 1846. 66 Again the company conceded; and in 1846-47 and '48 the charge was reduced at rates varying from $2 64 to $2 60.per ton. In 1849, the company again yielded to the pressure and solicitations of the coal representatives, always with their encouraging promises for the future, and further reduced the rate to $2 46, and still again, under their importunities in 1851 and '52, to $1 75 per ton to Locust Point. In 1853 the expense of working railroads having been greatly augmented from causes to which it is unnecessary here to advert, much alarm existed among parties interested in the success of the prosperity of the road. The apprehension became general, that on this large item of its business, which caused immense wear and tear to its road and machinery, the company were suffering an absolute loss. Urgent appeals were made for investigation. Finally, the late lamented John H. Done, Esq., then master of transportation, was called upon for and furnished an "estimate of the cost of hauling coal from Cumberland to Baltimore," which is now on file in the transportation department, which exhibited the actual cost of 1.156 cent. per ton per mile, without interest on any portion of the capital of the road; and, to use his language, "making no allowance for increased cost of repairs of road." Even with these important omissions, the cost proved to be $2.07 per ton, the pay being but $1.75, yet much clamor prevailed to oppose any ad vance. Great injury to the city of Baltimore and State of Maryland, and destruction to the coal trade and the coal interests were loudly proclaimed and predicted, then as now, if any advance were made. The Board, however, on 1st December, 1853, did advance the rate 50 cents per ton, viz: to $2 25, at which it has remained since that period. No damage to those great interests resulted from the advance, and they who were confident at that period that the bituminous coal of Maryland was known and appreciated, and would be freely purchased at the advance, proved correct in their predictions. It is now more widely known and more highly valued, and many believe that it would bear double the advance the committee proposes, and so great is the demand for it, that the capacity of the road would then still be more than taxed to supply consumers. Thus the Company has fostered and built up this trade. It purchased machinery at a high cost, especially for this traffic; submitted to enormous rates of interest for money for its payment, and a further burden was borne, as by such absorption of capital in advance of earnings, dividends were postponed for a long period. Year after year it reduced its tariff to meet the urgency of the coal interests, to strengthen and to develope the trade, and now, it believes the period has arived when a comprehensive view of the whole interests involved demands an advance. The board has repeatedly refused to increase its motive power for this trade, unless it be made at least partially remunerative: and the committee, in the rate recommended, propose still to continue to discriminate largely in its favor, and at the same time to recommend an increase of power, by which the company's capacity for the trade will be largely increased. Attention is requested to the statement of Mr. W. S. Woodside, master of transportation, herewith submitted, marked A, which shows the cost to the company, giving the items in detail, to be $2.19 7-10 per ton, making the calculation for 2,000 lbs. instead of 2,240 lbs. actually transported as a ton, and omitting totally any interest on capital in road. Also to the statement of Mr Henry Tyson, master of machinery, annexed hereto, marked B, which shows Cost of transporting one ton, one mile, to be...... Cost of transporting one ton of 2,000 lbs. from Cumberland to Baltimore. 1.69 cent. $3 02 3 38 These calculations being based on the actual working expenses and interest at six per cent. on total cost. He presents a further calculation, in which the interest on the mortgage debt and preferred stock alone is embraced, with the actual working expenses, which shows The cost per ton per mile.. Cost of transporting one ton of 2,000 lbs. from Cumberland to Baltimore... 2,240" 66 1.85 cent .$2.48 2 72 These rates, by this statement, are thus required, without the payment of one dollar of profit, or dividend, on the stock of the Company held by individuals, the cities of Baltimore and Wheeling, and that unpreferred by the State of Maryland. In illustration of the accuracy of these estimates, attention is solicited to the fact that no road, so far as the committee can learn, even of level character, in this country or Europe, is worked at or near the present remarkably low charge by this road. One and a half cent per ton per mile, has, on all roads, been regarded as an extreme minimum rate, for summer transportation, whilst the rate which most generally obtains is two cents per ton per mile. The Reading road, with double track and abundant sidings, and with the most enlarged and economical facilities for the coal trade, with a descending grade, almost from the mines to Richmond, charges at present, $1 85 per ton for ninety-three miles, and has advertised to advance the rate to $2 on September 1st, its charge being thus upwards of 2 1-8 cents per ton per mile. The Baltimore and Ohio Railroad Company, with its difficult grades and curvatures, present an anomaly at present, in working at so materially less a charge than roads the most remarkable for easy grades and slight curves. Much effort has been exhibited to rouse in this city a feeling of antagonism and jealousy inr egard to the Chesapeake and Ohio Canal and the trade of the District cities. The committee believes that the large interest of the State of Maryland in the canal should not be made a subject of ruinous riva1ry, and that the development of the coal trade will continue at the proposed advance to tax the capacity of both the canal and our own great work. Influenced by these and numerous other considerations, of which the limit of this report forbids the presentation, the committee recommends the adoption of the following resolution, viz: Resolved, That an increase of freight on coal of 50 cents per ton from all points of shipment, be charged on and after the 1st October next, and that a drawback of 25 cents per ton be allowed at and from that date on all coal delivered in the city of Baltimore, for the consumption of its inhabitants. A correspondent of the Baltimore Sun, remarking upon this advance of freight, presents some striking facts relative to the transportation of coal. The propriety of change of opinion in such institutions (which, unhappily for their stockholders, too frequently indulge in variations of the kind) can sometimes be tested by the unintentional and therefore impartial statements made without any reference to the point in question. In the present matter there is such unintentional witness shown in the following table, which is quite instructive: Baltimore and Ohio Railroad Work and Profits for a Series of Years. From a table like this, its aggregate and items, could be derived, were there occasion for it, a sufficient number of equations of condition to determine with the highest probability (or what is ordinarily termed certainty) the share which each branch of traffic and travel contributed to the net revenue. For the present aim, however, it will be enough to indicate a use which every reader can make of it for himself. Thus, in 1849 and 1850, the merchandise was constant, while the coal for the last year increased; and the net revenue is seen to have increased also. Again, as between 1850 and 1852, the coal was sensibly constant, while the merchandise increased, and the net revenue fell off. In 1854 the merchandise decreased, and yet the net revenue more than doubled itself, thus corresponding to the increase in coal. So that it may be stated in general, as the experience of the last nine years, that the coal traffic and the net revenue have marched together, while a similar relation cannot be predicated of the merchandise traffic. Indications like these should be full of meaning and emphasis to the managers of an institution from whose business they are derived; and such involuntary testimony should be all the more esteemed, since it has been dictated by neither prejudice nor self-interest. But this is not all the evidence of the same sort. For instance, the mer |