The Sun.
London, England, 1857-07-28 00:00:00

Fa

lAKE ONTARIO AND HUDSON RIVER
_ RAILROAD, State of New York United

States.
The Share capital is 1,250,0007., in 60,000 shares of $lOO
each ; or 207. 16s. Bd., reckoning the dollar at 4s. 2d.
DIRECTORS IN UNITED STATES.
ELISIIA C. LITCHFIELD, New York,
LUCIEN D. COMAE, New York.
JOHN R. BRIGGS, New York.
SAMUEL J. BEALS, New York. - •
EDWIN C. HAMILTON, New York.
BENJAMIN BRANDRETII, New York.
LEROY M. WILEY, New York.
DANIEL B. GoonwiN, Waterville, New York;
L. PADDOCK, Watertown, New York.
etBORGE TIBBETTS, Troy. New York.
LOWELL HOLBROOK, New York.
Ciammrs A. MACY, New York.
Ono vacancy.
OFFICERS IN UNITED STATES.
President—ELlSllA C. LITCIIFIELD.
Vice-President-,-Jorts R. BRIGGS.
Treasurer CHARLES A. MACY.
Secretary—E. D. SAXTON.
Chief Engineer—A. F. EDWARDS.
Consulting Engineer and Land Agent—Joni B. MILLS
(for many years directing engineer of the River St.
Lawrence Improvements in Canada).
TRUSTEES FOR MORTGAGE OF LANDS.
Hon. JOHN G. FORBES, New York, United States.
Hon. J. VANDERBILT, King's County, New York, United States.
Ron. HENRY WAGER, Oneida County, New York, United States.
BANKERS IN LONDON.
The Union Bank of London.
SOLICITORS IN LONDON.
Crowder, Maynard, Son, and Lawford, Coleman-street.
BROKERS IN LONDON.
Huggins and Itowsell, 1, Threadneedle-street.
LINE OF ROAD.
This very important line, now in course of construction,
will unite the Eastern end of Lake Ontario at Sackets Har-
bor, with the Hudson River at the head of tide water at
Albany and Troy ; thus uniting in a direct line the great chain
of lakes, or inland seas, with the Atlantic Ocean, at New
York. The section of country traversed by this line is the
north-eastern portion of the great state of New York, and
although now covered by a primitive forest of heavy growth,
which is rich in almost every variety of wood and timber,
and filled with mineral productions, it is agricif turally
as
well adapfed to grazing and general farming purposes as any
other section of the state. The country is filled with lakes,
giving rise to most of the large rivers in the state.
The whole section has remained in its normal condition un-
'• - til the present time, owing mainly to the course of settle-
ments, emigration, and traffic.lifdticed--by the opening of the •
Erie Canal, and the many lines of railroad leading to the.great
West.

LENGTH OF THE LINE.
The length'of the line, with its branch to the iron mines of
the Adirondak, will be about 200 miles: Contracts have been
entered into for its construction, including-the rolling stock,
rights of way. and stations, the whAle amount not exceeding
6,0001. per mile, which is less than the average coast of rail-
roads in the United States, and not one-half the cost• of the
New York Central and Erie roads, each. The gro-st amount
of the cost will be about 1,200,0007., which includes 100,0001.
of rolling stock. The line will have but one summit, with
level or descending grade eastward to the •Hudson River, and
westward to Lake Ontario, the summit Weing about 1,700 feet
above the termini, at 100 miles distance, the heaviest gra-
dient being less than 5J feet to the mile, and these occurring
for three miles only, and with the slope in the direction of the
heaviest traffic. 200,0001. has already been-expended towards
the construction of the line, and it is expected that the east-
ern division of 30 miles will be completed .by the Ist of Octo-
ber next, and the whole line in eighteen months.
CONNECTIONS,

The line, and its proposed branches, will not only unite the
great Western Lakes—whose tonnage, traffic, and commerce
is larger in amount that the foreign commerce of New York
—with the seaboard, by a direct and advantageous route, but
will also bring the city of llefontrea,, and the Grand Trunk
Railway in Canada, into easy communication with New York,
thus materially shortening the distance over the line at pre-
sent in use.
• LANDS POSSESSED BY THE COMPANY.

The Company possess upwards of 500,000 acres of land,
lying adjacent to their line, and granted to the Company 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 be 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 jwdged from the following extracts from a late
report of A. F. Edwards, Esq., the chief engineer, corrobo-
rated in all respects by John B. Mills, Esq., the consulting
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 go 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 are, 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. 15,000 „
100
3. Good spruce timber lands
4. Good hemlock timber lands,_valuable for
plank boards and bark.., lOO,OOO „
V. Lands valuable, because connected with
water-power, and for town lots lO,OOO „
6, Lands valuable for cord wood, and for ag-
ricultural purposes 225,000 „

Total 500,000 acres.
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 to it by canals or railroads, it has not been culled
or destroyed. It is, on the average of distance, 2no miles
nearer to tide water than the pine timber on the Erie Rail-
road, at the heads of the Genesee and Allegheny Rivers,
where the best kind of timber is worth 1/. sterling per thou-
sand feet, board measure, standing in the tree.
It is acknowledged by malty who have examined this coun-
try, that the entire forest will average from sixty to one hun-
dred cords per acre, or will produce twenty thousand feet,
boa, d measure, of sawed stuff, of the various kinds, with 60
cords of merchantable wood, and 3 cords of hemlock bark
used for tanning leather.
The Company have, in addition to the 500,000 acres granted
to them, the option of purchasing upwards of 250,000 acres, and
which it is evidently the interest of the Company to potsesi ;
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 the state, states that more than six millions
of tons of magnetic rock ore of 80 per c-nt. richness, lies with-
in two feet of the surface, and m ,st of which may be removed
without blasting, while there exists in immediate proximity
abundance of water power, and unlimited facilities for the
economical manufacture of charcoal iron.
By an act of the Legislature of the State of New York, at
their last session, the whole estate of this Company is
exempt from taxation until 1870._