Report of the Committee On Ways And Means, Covering a Communication With Messrs. Baring of London, And T.W. Ward of Boston, in Relation to the Chesapeake And Ohio Canal Company.

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Baring does not appear from the report, but my letters from them of March and April 1840, state distinctly that the stock which they had purchased of Mr.
Peabody was all re-sold, and that they held only the jei33,000 re- ceived from Mr. Peabody, on which they had agreed to advance gradually 65 per cent, as the wants of the company might require.
At the time therefore of receiving the said bonds for account of the canal company, and of making the advances thereon, Messrs.
Baring held no bonds of
... the State of Maryland on their own ac- count, so that the canal company, instead of being admitted to share jj?-o rata in the benefit of their gradual sales, would be enti- tled to the benefit of all such sales, had any been rnade. It is true that they subsequently in 1841, became interested in a pur- chase made in Baltimore, but these bonds have not been sold, and of course have not interfered in any way with any sales which would have been made on account of the canal company.
From about the time when the bonds amounting to

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