This statue is of John Mifflin Hood, early president of the Western Maryland Railway. Mr. Hood played an important role in shaping the Western Maryland Railroad (it became a "Railway" after 1911) into a strategic "bridge line" that linked the Port of Baltimore with western points.
During his stewardship, Western Maryland passenger trains also used the Pennsylvania Railroad line from the west, stopping at Pennsylvania Station, to reach the Western Maryland's Hillen Station in downtown.
The statue is unusual because few statues were ever commissioned to honor men of the railroad industry. Some people think it should be at Pennsylvania station instead of here.This picture was taken from the car and wildcard03 kindly confirmed the identification of it for me.
Yes, that's John Mifflin Hood, president of the WM Ry. from 1874 to 1902. The monument is located in St. Paul Place, a small park located along St. Paul Street where it is crossed by Orleans Street (on an overpass) in downtown Baltimore.

