The Sun.
London, England, 1857-07-02 00:00:00

LANDS POSSESSED 1W THE COMPANY.

The Company possess upwards of 500, 00 acres of land,
lying adjacent to their line, and granted to the Gampany by
the State of New York, and the individual owners of land
along the line. These lands are exclusively forest, and are
filled with timber suited to shipping and mercantile purposes,
and wood of a description universally used for locomotive
fuel in the United States. For all of the varied products of
this forest an extensive and unsupplied demand exists at each
terminus of the line. The whole of this tract will he brought
within eight hours of the city of New York by the completion
of this railway.
EXTENT AND VALUE OF THE LANDED ESTATE.
The extent and value of the lands possessed by this Com-
pany, may be jedged from the following extracts from a 1 to
report of A. F. E wards, Esq., the chief engineer, corrobo-
rated in all respects by John B. Mills Esq , the constating
engineer and land agent of the Company.
Speaking of these lands, they say:—" They are known to
be covered with an extraordinary growth of timber, and on
this account are worth much more than lands fit only for ag-
ricultural purposes. Let us ro where we will in the State,
We find the lands which remain covered with wood and tim-
ber altogether the most valuable, and bringing high and in-
creasing prices."
There a,e, of-
1. Good pine timber lands 50,000 acres
2. Lands containing cherry, cedar, curled
maple, tamarack, oak, elm, birch and
ash, all valuable for manufacturing and
special uses, and some of which are mine-
ral lands.
B. Good spruce timber lands
4. Good hemlock timber lands, valuable for
• plank boards and bark
5. Lands valuable, because connected with
water-power, and for town lots
6. Lands valuable for cord wood, and for ag-
ricultural purposes 225,000 ~

15,000 „
100,000 ,

Total
the item classed as cord wood. represents wood for fuel, each
cord being 128 cubic feet, 2 feet long, 4 ft. wide, 4 ft. high.

The pine timber is of the best quality. There having been
no access o it by canals or railroad-, it has not been cul'ed
or destroyed. It is, on the av rage of distance, 2,0 miles
neartr to tido water than the pine timber on the Erie Rail-
road, at the heads of the Genesee and Alleghany Rivers,
Where the best kind of timber is worth 1/. st.:rling per thou-
sand feet, board measure, standing in the tree
It is ac nowledged by many who have examined this coun-
try, that the entire forest will average from sixty to one hun-
dred corn's per acre, or will produce twenty thousand feet,
boa d measure, of sawed stuff, of the various kinds, with CO
cords of merchantable wood, and 3 cords of hemlock bark
used for turn'', g leather.
The Company have, in addition to the 500,001 acres granted
to them, the op'. ion of purchasing upwards of 250.000 acres, and
Which it is evidently the interest of the Company to possess ;
this includes 4 sths of the justly celebrated Adirondack Iron
Estate of 100,000 acres, of which the Company now own 1-sth.
Professor Emmons, the geologist of the state of New York,
in his report to he state, states that more than six millions
of tone of magnetic rock ore of 80 per cent, richness, lies with-
in two feet of the surface, and m st of which may be removed
'without blasting, while there exists in immediate priximity
abundance of water power. and unlimited facilities fur the
economical manufacture of charcoal iron.
By an act of the Legislature of the State of New York, at
their last session, the who e es ate of this Company is
exempt from taxation until 1879.
TRAFFIC. _ .

The general traffic which must flow over this line is ex-
tremely large, and leaves no doubt of the remunerative
character of the undertaking. The directors esti nate that
their annual earnings from way or local traffic, with the road
completed, will amount to upwards of 700,000/. sterling, the
outlay for which will not exceed 45 per cent.
A careful examination as to the immense supply of freight
existing at the s' mmit of tha road, the short distance from
market. the extensive and unsupplied demand for every item
of this freight at the eastern termini of the roads at Albany
and Troy, and at Lake Ontario West, for Western demand ;
the facts of the gradients, level or descending, in favour of
the preponderating traffic, the nominal cost of fuel, usually
one-fifth of the expense of maintaining a railway line, will,
when considered, fully just-fy the estimates of earnings, and
will prove most conclusively the capability of the road to
Move at highly profitable rates the teeming products of the
forest.