The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1865-11-28 00:00:00

ATLANTIC AND GREAT WRS'TKELN RAILWAY.
AVERY full meeting of the holders of bonds
.and shares in this company was held on Thursday
lantat the London Tavern, to receive a report as to the
gVikeild Position and prospects of the undertaking. Sir
Morton Pet°, the president of the London board, occupied
the.,eisair. Amongst the gentlemen present were Sir
, Morton Pato, C. Keanard, Joe. Robinson, Esq.,
4kt .-4.sq' f.u`Si' nll'ol3ll. 7•.92ifftleYl3 ilti"toLneSalistrher:ltre
J. M'Kenna, Rag., Ci.raileley. Esq., TOOM•011
Hankey, Esq., Too. Young, Esq., T. Mackenzie, Esq.,
J. S. Forbes, Eec., Montague Bailey, Req., Mr. Eason,
Mr. Goddard, Mr. Grain, dm.
Sir Morton Pete, in epening the Mildness of Ake r
said —Gentlemen. I am quite aware of the valor of
In the middle of the day in the City of Idon.
shall therefore occupy your attention for all short
time as possible. You will mallet,* that on-- the leet
occasion when I had the pleasure of being present at the
meeting of the bond and shareholders of the Atlantic
and Great Weetern Railway, it was on the, occasion of
the visit of the engineer-in-chief, Mr. Kennard, to this
country. I then told you that I
--Adiefthe in
f" 'e eve circumstance in connection
aiC railway, end that on myretum to England I
egaineice meet me, and beer- my own
Personal uneresinons. and also reports from those who
want able4.2.lllNe them, a the exact state of the under.
stb 30 aft taking. Now, gentlenien, that journey hu beend
accomplished. I examined every portion of your rail- '
reti4dirt the utmost passible care, and I have had the
advaittiw of baying with me, in the first place, Mr.
known-in this °wintry as one of oar first railway
eutherities. and known both in Holland and Germany
, from JO* being vice-president of the Dutch Itheniab.
beta 9,' Midway, and having resuscitated that andertakingeand.
edt cfliw from hiving the confidence of a large oetion of the 1
to aotaaerri impitaffiete of those countries. When I mention to yes
ora.B %Rol' ,41hatalarge piortion of our bonds are held there you will,
mit JlSSlErtllG•em'thild Mr. Forbease report is therefore doubly
Important. Besides tdr. Forbes I had the advantage of
present* of other persons, and when I mention Me...
.obiasicyl knieterthweite, known to you all as a member of the
bee haute liaw &took Exchange and as IL man of business, as one to
whom you may refer, any of you, for his impressions;
mi Well as Mr. Hull, of Liverpool, whe is present ; Mr.
.re.tem,,P, Bison, whom I have known for many years, who has
bees *Deflected largely with my friends Mr. Bramy
and Mr. George Wythes, In connection with large
GO 0 uria undertakings as professional adviser—a man who
1l • their
although not himself an engineer. yet from his acquaint-
mash ed ;nee with public works able to form sound opinions
rod et nr. with regard to them, I shall have said enough to con-
name 01100 you that I had able ooadjutors in my mission.
see•eene. New, gentlemen, at the outset I wish to say to you that
.letbersou,. everything which bad been reported to me by the
-resident engineer, who, you will recollect, I mid hed
been an agent of my firm for • great number Of years,
XT I Idtud fully verified on my inspection of the railway.
motet (Cheers.) At the outset, I feel bound to state, scan-
act of justice to the contractor for the line, Mr.
li'lleary, that the whole of these works are faithfully
earieT .
, and well executed, and that they do Mr. hillenry
great credit, inasmuch as he has never failed thrill"
_
other than • moat liberal construction upon the con-
itedlra 110 beet between himself and the employ. (Cheers.)
lemirath 40,- These works will be more fully detailed in the report
.ssui of Mr. Forbes, who will present 4 be called upon by me
is tad! to read that report; therefore it would be matiopyirrg
•anitnine fel, year time were Ito say more about them. It will be
shillera OA 4, • • more interesting for me to say to you, with regard to the
ereadarre Mew s Altaic of that line, whet are my impressione, and leave
•ansq,e6 arrehiesA Mr. Forbes, as an independent witness of what I have said.
.tttitii state what are his impressions with regard to the
--works. Before however, I quit this point of my
address to you, I ebould like to mention that you have
In the person of the president ef the company in
Ameriea, Mt. L'Elommedieu, a man known for many
years in Americo, putionterly in the place in which he
lieu, Oineinuati, as a man of the highest possible
etanding in connection With the administration of the
Hamilton, and Dayton Railway, and
onattrritirti.Z. ,Mair Missed the good opinion of all who are eompetent
o.,...ultelltdge in the United States. You have in the parte&
td Mr. Maelaren, the general manager, one of the meat
clever, practical men that it has been my good
actossOß Tar Esilihratise ever to have met with. (Cheers.) Moreover, he
.asoirmeoetlitta • character of something like 18 years' standing, mad
so roe ti,.l !Weak ill • country like America, goes for a great deal
when I tel you that he is not a native of Jimmies, bull
skAd, to slißtotechntau. Whan we arrived in America I foandfiliet
tzitlio in what is termed technically by railway mem ge,
._,.itate of block. The rolling stock had been provided unsilk
the data in Milled by the general manager as what It.
.Ma/1 PARIT/T1 tractuned wbuld be sufficient; hut when we got there we
igeteetindw . found that there was nothing like the amount of rolling
stook which ought to have been supplied to the Tine.
.yeraye.t;77-he traffic, and pertionlarly the local traffic, was out ,sf
ell proportion to what bad been anticipated. We toned
lancing parts of the liyie that the oil districts were.
Ilisextent paralysisd by the insufficiency of rolling
ek and sir] nga We received a reqnisition in e-
-4e.telifroot Meolaren as to what he would req
.11111,1104 (TA ng ask d Link, he st once raid, o do tattoo to
31°110 "I shall want to lay down immech.tfly 72
*aloe. Of 'tiding& . I 'ball want to lay down 1000
-alma oviuf Mobil tars and 25 more locomotives." The whole
boilvg a Iv" 'the% stock was immediately ordered, and the low-
ed/1M ble7l ed or.t•Zeit-h are now being impelled at the rate of five per
Is atiai) 11* from the company's OWD workshope, and the cars
Ifrrin bat the rate of 150 per month, tied the sidings will all be
mod dml berulrid down by the end of Deeember ' • Do that you will
strmitn• terJadeatiee no time bet been loot in carryges not that which was
.40 * inmertant for yeur interests. (Cfreert.) But now, gentle-
mows, lit me cal) your attention to whet the traffic in at
41 rig ,present time, with it. insufficient rolling UAL
dl s q. 16 ntlemen, its reasipte, when I was in America, viete
At .'SSO per mile per week ; and Mr. Maolaren told me that
si hug ; j..„, be 'should be able, when sepplied with all the additional
eat el ~e.. reeling stock, to make that 4150 £BO per mile per week.
Now, , what is LAO per mile per week 1 13m hue,
taking its remipts with the insufficient rolling stack,
when the hundred Mils rot yet completed is earning
ecitwolt Ash.' the P•M• atnollTT• of money, deducting w -
at the rate of 60 per cent., and
exchange et $7 to the pound—would
par the whole of the consolidated bonds arone...,,
line *winery were *tied, amounting to £420,000 a-year
inVrest, sad would leave £114,700 kir the ordinary
.hitstes, (Cheers.) But I would rather leave those
calculations to you, , nd ask you to form your own
Ashteminiotts as to what the property is worth. It
Is not for me to prognosticate its future. You,
. perhaps', will be able to form •• opinion, when I have
stated ',these facts in a few words front mr. Fur
report, lie well as I can myself. Now, let me
-atteotion to what I think is your future policy. You
will, p rhaps, be rather surprised when I tell you at
seal bsta , Vise*** that your future policy is not one of extension. It
,eaerate.reilleinibf consolidation and rest You will have, when
your tine la completed from Cincinnati to Salamanca,
to linftelo, and to Niagara Falls, a great east and west
road. TOO will, therefore, be placed in a position of
baying, your lair sfiare of the east and west traffic.
.tessia-srifidurea, 1 my, kW others make lieu from the west to you
sad from the east to you. When I was in America
with MY friends, amongst other things I did was to have
' satiefactien and pleasure of going over the Baltimore
Railway with its president. I should like
the proprietors of that line that a 'sounder
t I do not believe exists in the world or a
,etter managed one; and that Mr. Garret is, without
emia,pcion, one of the most talented men I have met
with.' Mr. Garret agreed with Me immediately to com-
plete the link wanting there (pointing on the map to •
tract op the Baltimore and Ohio line in the Allegheny
llihnintalna) In the Dayton line, on the Meboning
Cleve)and Railway down to Pittaburg. I should say ii
you fhi.t that line is under lease to the Atlantic and
• •ereat Western Railway, and that the first year it was
,isoi,---opened, raking the interest account at 8 per cent., it
learned In net receipt; £12,000 over the amount of the
renewel+. I had therefore
* Int° an s•lrfetike•t with
Rail 4410 4tancl that
the amnia- retie of lease I
htoç(Taa When
Bal, imam,
ens .esid
11•Il gist
iecleyjilanel,„the great
believe *
he 4ioJent
I ought not for
into.
.end

Are
(Cheers.
longer, 7
report,
aak too
. friendly
• .the

the
[ be in

*

Ire you

ahonld
_4/1
tta—ieeeas, and

.b 8

been obu
or I solidated

da betnoozo uoi;
'YANK it-r 9 1)
'AINLINXI Y ft,

.1111T-.REI

let ”. I

and gbio .
v.,11140 ta hay
inve4rnent
be

, se 1.04.-1

hout

Mut.

es;tern
yonr r

les

ibm

•ntvr
I«rt

It. ion
*Ural
eV-meth' ,
tti

Iraiqupoo $1

. '
age on the river, as well as • large quantity
extent, but then we shall divide every year that which' company have acquired nearly all the avail
we believe to be the property of the proprietors who
tTent e
land in the vicinity, and acoommodation for
are during that year shareholders in the railway. of
I do not think I need detain you mock the !hipping and storage of coal, iron ore, &0., has been
)
but had better rather ask Mr. Forbes to read his furnished on a large scale. I consider the possession of
at the same impressing on you that yen cannot this terminus as of the greatest possible value to the
Atlantio and Great Western system ; the position of
it...l'ly eirtymaiqueiosti.ousi
felt
te
iatrenumdetthyewrehetno-
Cleveland on Lake Erie makes it for business purposes
to-day
tot:kr.
position of chairman of the London baprd of
second to no other lake city; and now that by means
t of the Atlantic and Great Western it is brought into
control, to require oertain things to be done. The firs
was that all money should be sent over to London. that direct communication with the great network of sail.
we might know what was earned—that is, 40 per oent, ways, of which that is a part, there can be no doubt
of the receipts. I next required that an eminent firm that an enormous development of its trade will result.
should be employed, namely, Messrs. Coleman, Tar- At Cleveland there is a large local business, and eon.
d, and Young, to go over andl investigate the state siderable iron works and other industrial establishments.
q
e line, end Hie whole of amounts, and make It is, besides, well situated for the export of coal and
eeport, 'That report will the hands of every produce from the Motioning dietrictio *tie innumerable
holder said shareholder toeday, if they like to apply, cities and places on the shores Of tilis great lakes, whilst
will 'essent to the address of-those who do not, it affords every acoommodetioa.fer the import of pro.
ii'only rehd to you the ammo that report, and then duce from those districts, as well's for the rich orea of
td read the dotal faftetwnrcht, as they would Lake Superior, so essential to the largeiren manefacttnre
too much time. You will find in that report which is rapidly extending itself in the neighbourhood
eas e confirmation of the statements of Mr. Forbes. of the coal districts on the Atlantic and Great Western
It will show you where your money hu gone, and how Railway.
it has been spent:— "Amongst the material improvements which are
eeKlirti• whole of the *Mimes of the main vas , . ng energetically proceeded Willi is the provision of
hianobes of the Atlantic and Great Western Railway permanent shops and accomodation for the locomotive
have been amalgamated, and legislative powers have establishment. This is one of the very first neroeseities
•.• ____. a......... iala Asa stva. 01 flithiPlif administration. AH- -ether things hinge
upon the efficiency of this branch of the service, and
nothing toads more to maintain this efficiency than the
provision of convenient premises, well laid out, and
ereperly fitted with machinery, where repairs of the
looornotive stook can be carried on rapidly and under
effectual supervision. These new shops, the general
arrangement of which I was able thoroughly to
approve, were building at Kent and Meadville, accord-
ing to plans prepared by the engineer in eonitinction
with the locomotive superintendent. The shops at
Kent, erected in excellent stonework, were approaching
completion and mush of the machinery was fixed, and
those at ?a:lady-ale were also well in hand. When these
two sets of buildings are completed, fitted, and brought
into operation, as they will very shortly be, 1 feel sure
that those charged with the conduct of the locomotive
servioe, will be enabled to obtain not only • high degree
of efficiency, but will effect a ontaiderable reduction in
the present mak of repairs.
"The opening of the through communication be-
tween New York, Cincinnati and St. Louis, and the
consequent development of the traffic; has been imme-
diately followed by • demand for stock much beyond
what the company have been able to meet. One of the
most significant intimations I received of the future
prosperity of the railway, was in the representations
made to me at nearly all the principal places on the
line where I had the opportunity of conversing with
merchants, traders, and others, as to the difficulties
they experienced in forwarding produce, not only by
the Atlantic and Great Western, but by railways gene-
rally, in consequence of the great deficiency of rolling
stock. I was assured of this at Cincinnati, St. Louis,
at Toledo, and at Chicago, and it was asserted that the
traders were on this acootint frequently prevented from
making use of the railway, and were compelled to resort
to water carriage. Similar complaints were made to me
in the coal districts of Youngstown, where not only is
the export of coal to Cleveland seriously interfered
with, but the iron manufacturers are sometimes obliged
to suspend their operations for the want of fuel, the
companies not being able to provide waggons to carry it
to them.
" A considerable part ef the revenue of many of the
leading lines in the States is derived from the convey-
ance of cattle; and the Atlantic and Great Western for
nearly its own length, passes through districts where
the breeding mid fatting of cattle is tarried on upon an
extensive scale, and where, as a consequence, a large
Mishima awaits the company so soon as they are in a
position to furnish proper 'facilities. Up to this time,
however, owing to the meagre provision of trucks, that
traffic' has been comparatively neglected.
"I found the erection of new engines being carried
on with considerable vigour at the Jersey City Loco-
motive Works,,milt tit a short time the orders in hand
there will be completed, so-that the company will have
a stook of 126 engine.. At present they have somewhat
under 100 in use, and the additional power thus
afforded will enable the inaatager of the line to overcome
many of the diffloelties with,whicalt they are now beset.
Looking, however' to the great increase of business
which Is certain to come upoi the railway, I shnuld
advise the directors. to make eaily arrangements for a
further supply of 24 looemotives. Additional passenger
oars are also being built. The mesh pressing want is,
however, for goods and cattle waggons, a large supply
of which should be fortheith provided. This was so
apparent that, nport the suggestion of the geserel super-
intendant of the line' Mr ti'Laren, which I was en-
.bled fully to endorse. Mr. MI Flenry gave immedia, e orders
to have • large additional number put in hand. The
moment these are furnished they will find abundant oca.
cupation, and not until then can be realised the anticipa-
tions of Mr. M'Lmen as to obtaining a mu,* larger
amount of freight over the Insollian is now carried.
"As to the.existence in the districts served by the
company of an enormous huffiness in frieght, both in
through and local traffic there can, I think, be no ques-
tion. Aker leaving Salamanca, in the state of New
York, the line traverses Pennsylvania for 93 miles,
atid then passes through 24f miles Of the state of
Ohio. These two states are amongst the most thickly-
populated in the Union. As agricultural states, they
are second to none, and they abound in coal and other
mineral prodocitions. The popnlailion of Pennsylvania
at the isiet tennis, in 1860, was 2,900,000, equal to 64
person to the square mile, and bad in ten years increased
by 600,000. There were over uloog 000 acmes of land
under cul ivation ; and about 1,600,00 U head of horned
wattle, 1.600,0(10 sheep, and 1,000,000 hogs were owned
in the state. The produce of the wheat crop in 1860 MIS
13,000,000 bushel.; of Indian corn, 28,000,000 bushels'
of oats, 27,000,000 bushels, besides large quantities of
buckwheat, rye and harley. Ile potato crop, yielded
neatly 12,000.000 beads ; and lie lees than 2,245,000
tons of hay Were made that year. The amount of coal
raised was about 9,000,000 tons of anthracite, and
2,500,000 tons of bitamitiosts coal. Ilia length ot rail-
road in operation inoreasectfrom 823 miles in 1850 to
2,642 miles in 1980. - -
"In the state of Ohio the population in 1860 was
2,340,000, equal to 59 to the square mile, and it had
i increased n ten year* by 360,000. The land under mil-
citation was 12,865,000 acres; the number of horned
cattle owned in the state was 1,650.000; of sheep,
3,000,000; and of hogs, 2,200,000. The cereal crops
ied, in 1860, 14,500,000 bushels of wheat,
000 bushel. of Whim OM, and 16,600;000
a of oats, besides latge quantities of rye, barley,
and backetheat. The potato crop yielded 8,752,000
bushels; and 1,600,000 tons of hay were made. Of
coal, 1,133,000 tons were produced, and nearly 2,000,000
bushels of salt. The I,,ngth of railroad in 1850 was 57'5
miles, which, in 1860 had increwied to 2,999 miles. Coal,
lime, and limestone abound, and large numbers ot
springs exist. The coal is priletipelly bituminous,
and is very aecemeilde.
"The development of these terji states finds 1800
muse have been very great. In Pennsylvania the oil
i regions were almost unknown at that period, hut within
' the last fear or five years in energetic and enterprising
has migrated to the district, and large towns
• into life in the immediate vicinity of th:s
Corry 5,000, at Franklin 5,000, at Oil City
and Bole 10,000, at Titusville 111,000 people are
congregated, besides many thomands scattered over the
whole region. These people, many of Whom are wealthy
and all highly paid, consume and travel mush, and are
excellent customers to the railway. Tile infestment of
capital in the sinking of new wells is already Very great
and is A.M.-lily going on, mid the aggregate production
of oil increases from day to day.
quantity forwarded from the stations on the
. Ai' .11 Great Western Railway in 1863, was
barrel., and in 1864, 675,028 barrels. The
fotwarded in the
.nresent yedr will, it is
ahotraconaiderable mimeses upoa 1864. this
that the entire oil district of Pennsylvania
.. the astonishing quantity of 80,000 to 90,000
per week—equal at the lower figure to Bay
4,000,000 barrels per annum.
"The ail Will affotd a eery heavy rate for transit over
the rial Ways, .and as much as 3d; and 4d. tier ton per
mile is willingly paid for Re conveyance,
th, amount of this traffic which
..red company by the favourable
of the railway, the rapid increase of population
constantly being attracted to the district by oil enter-
prise, and the large business and wants these people
bring in their train, the value of this local traffic to the
company must be apparent:
"In Ohio, sinoe 1860, a large increase of coal train°
i taken plan.; but, cotnparing ill with the coal trade
. PenasYlvania, the quantity raised is still small. An
energetic development of the coal property is, however,
tow taking placei,and an illustration of this is to be found
the district through which the New Liaison Branch
, being tionstructed. This district abounds in coal of
an excellent quality; and . company; &imposed of very
influential gentlerfien resident or interested intim neigh-
bourhood, has been formed to bring several large pro-
perties embracing 60,000 sores of coal field into full
work so goon as the completion of the line affords
access to suitable market..
"In other respects this state is considered to be ono
of the most rapidly growing in populiticin aid pros;
pet*.
"It is worthy dt remark that,
great additional mileage of railway which
struoted, and the immese increase in
production, bath agrieulteral and in,
it .ken plaoe bathes* two states for th, - . v•CI or twelve
year*, nti additional outlets by railway towards the
eastern cities. and the Atlantic seaboard have been fur.
• nished in that time, so that the existing lines of commu-
nication mast have been greatly benefited. If the great
commercial activity in these states oontinues to expand,
as no doubt it will, the probability is that the existing
lines will be unecond to the work required clf 'aeni, and
other otttlete will hate to be sotight
" flesh:lee the enormous local traffic, of
figures given above are e sufficient indica
important still is the trtaic of those great
trade, SteLottis, Cincinnati, and Chicago.
the western terminus of the broad-,'-
that point on the Mississippi river wi.,
trade tam place between what is called the
Upper Waters. The Lowe, Waters site
Louie to New Orleans and the Gulf of '
1,200 miles 1 and the tipper Wallet*
Upper Mississippi and the Missouri, *l.
the Mississippi some short distance from
afferd water commenication over many
miles. The fleet
Louie for the D
Waters is most
and cannot fail
gentleman to whom the
Hersey is a !wilier
Louis at the last tenses
inareased in ten years I _ ,
carried qn there 0 immense. At
erideliWcee' n greet business is
position on the Ohio river makes it
the trade of the district traversed by that
having in
end of
is

bonds,

its in esp. (71-6.076:07, 015-cio-is7,;;;-ti.if
and the remaining half in shares. Thp omit of the It%
inehlding the estimate of the necessary reqnirements
corsplete Abe whole lice and branches, is ahowa by,
Messre. Coleman, Inn:llmnd, Young, and Co., to
amount to 47,206,110,91 dols., thus leaving a margin of
paVkal of 12,793,1489,01 dole, to meet the further outlet
brhieb may be necessary for the increased requirements
d the railway."
SOW, - that is your position. I believe
'A of the soundest that -- by
_

miles) I
Isibberd

t hot',
salt

" Cqnsidenng
kw—
position "

I hail

J large
to the

notivithatending the
ch haa been eon-
tri°Ctii: sid
the laat
toe
have
lines of
If
•
c
the largest
more
• of

the
sit '
or
centres
Eit. Louis,
broad-guage system, is
'here the transfer of
d ths Lower --
extend Jrcue
f Mellor),
, inoluding
which run.
'OM Bt.
- thousands
~ of steam boots congregated at /
navigation of the Upper asid Lower
imposing in number and appearance,
to create surprise in the mirids of
is shipping in the Thames a•
eight The papolatioxi of
numbered over 100,010, hal
j 83,000 ; 'Mid the transfer tr
Cincinnati aim
apparent, and
the emporium
' river.
ten
Illinois, Is tiro ge
shor* ot t
,eds both C
briefness.
anti had
the
,retzs
t the earn
increased
ITOIRI

whisk

.dr atd
/mai St.

th•.:l

. the
rune into

St.
having
er trade
.ijinilar
and its

southern

exceeds
A its 1,

extent