10,912

1

some extent.

2

Nevertheless, I recall in the argument of this

3

case that I urged my colleague, Norwood Orrick, to ask

4

the court of appeals whether we were really dealing with

5

the iron horse or the sacred cow, but being a young man

6

he declined to answer that question.

7

THE CHAIRMAN: Delegate Clagett.

8

DELEGATE CLAGETT: Delegate Gallagher, the

9

prospect of a bonanza in the form of income or receipts

10

is certainly very alluring, but what study did the Committee

11

make of the practicality of retaining this provision

12

as related to the present financial condition of the Balti-

13

more and Ohio Railroad and other railroads throughout the

14

country?

15

THE CHAIRMAN: Delegate Gallagher.

16

DELEGATE GALLAGHER: Well, the Baltimore and

17

Ohio Railroad is the only railroad in the state of Mary-

18

land which enjoys this unique exemption. It has been

19

very careful to preserve it, because it has never altered

20

its original charter of 1826. It is quite aware of the

21

monetary value it enjoys and it is equally aware of the