The herald., 1837-01-24
Public Meeting ON the subject of the New
York and Erie Rail Road.

call signed large number of the merchants
mechanic and land owners of the city Of New York
meros and respectable meeting assembled evening Of the
Goth of January 1887, at Clinton Hall
The meeting was called to order by Mr. JAMES N. WELLS
whose melton Ills Honor the MAYOR was unanimously cho
President and JAMES N. WELLS and NATHANIEL !
WEED, were appointed Vice Presidents; and THOMAS r.
MERCA IN and WILLIAM SAMUEL JOHNSON, Secretaries
The Mayor taking the chair announced the object Of the
be- stated the call Ito receive fom the Roardsf
Directors of the Yok and Erie Rail Road Company import
respecting the progress of III n undertaking.
and improved financial condition. and adopt measures for an
energetic ccuton and carly completion Of the work.
At the Of Mr. James King the President Of the Rail
Road Company Mr. johnson read portion ofthe Rspo hereto
fore made the Common Council of this city by joint Commit
tee OF which Mr. j. was the channan setting forth the mmer
the work this city, all its branches Of indus
try. Which being done Mr. King proceeded make state
ment of al that the had hitherto DONE of the
circumstance OF the desolang fire of December last and
then OF the which he remarked incident
ay he thought he might Congratulate his audience having
passcdby Of which they had before called
thereuw itzens fill up the stock The time, however had
for action vigorous promp aGd sustained if
earnest the Of opening this at
all The West That to produce such action the
oec; inviting this meeting and 10 the end that gh
without full knowledge Mr. proceeded grounds
whchate personal inspection by OF their bodyand
the careful examinations and by engineers
secondo their profession Board Of
willing stake their characters diligence and sound udg
ment the pacc ity and the and positive cnes
of the projected rsadhch if reliance cosd be placed upon the
careful estimates Of cautious knew better
ground Of reliance suck undertaking could be made for str
mi lions Of dollars OF this there
and paid the called for 0An eight hundred
thousand dolarte State pledged for tioo millions
the compesn Of single track for tho whole the
city Of New York asked to make the
confident that before hat houd be expended the benefits the
road would lie soman and the value Of property along
great that difficulty would obtaining the
anse million. cne miuion hundred thousand dollars
then all that asked fsn this cyso make up the
private subscription 10 three millions
Mr.. X here added that great and honorable were
made the Of the law granting the the
the oor of the Asssn1y by General P,osper M Wet
and his colleagues Messn C0dTey Sha Conner end
West the delegations; and in the by
ngston each and all whom thanks
their fellow justly due addition TO the mo-
v Of patriot Of pride, OF selfntsres which combine 10
prompt New York TO accomplish this great work Mr. X stated
that had been made the
Of the Genncssee river Of great value enable
them those who and these whs might become
scribrs eek sir cent Snnst be povid by
the sales as needed of these all called in ill
lsA The further provo, that the residue Of the lands
unsod should be rntaby divided the then hode ofhe
three miens ofsock Az nevidence Of the Of
these ands the Secretary at Mr. C Instance read
the company, signed by G. Hoy, Hoyt N Dcvere
wins Townsend four hundrea thousand dollars for these
lands 10 be such the LIST July until
1871, 10 should suce for the cent accng at
bese periods nstalmsuts Of stock paid added
however intention the Of the Company
70 accept this OFFER peening for their sockho Idols the
s in the value these lands whch the progress read
could not fail 10 occasion, selling only from time time what
night be needfu the Of dividends Tiaay what.
ever sums were subscribed would only bc called nsta
mens amounngt cent for four years. the
nrs payment Of al might be made in Or
four months-
As IN the nue. when completed nd in full oper.
ton Mr. X obseve that after strict aud examination
by his AMI himself they could entertain reasona
BILE dou sf such results fom the profits of transportation pas
and merchar disc render the stock
haf
sblc 10 her conclusion when they considered the
chearncs the general facilities fthe grades the
tributary rail roads asd canals the outlet the
gauon Of the Alghany the
prise o population othc thrifty villages and
settlements ns ths whole cnsth of the road rendered oh
prosperous sy The outlay among them Of millions
Mr. claimed particular attention 10 the fact that his assoc
ates had move beyond what every stock
holder sossessed value Of the stock They no ate
pecunary interest, mislead their udsmestey no
lands property adjoining The roadsor icthfn the SoDern
forward their claims pubc confidence
upon the eround Of their disinterestedness.
X concluded by stating that he had knewn induce
rens scuiay character held out for en-
Ter promising such results than those whchhe
had been csssue and himself present to this
meeting but deeply did he feel the nroane Of the cause
that addition he would isvokc the pasm found want
ns fhe merchants traden, pofss nal mechapics and
classes OF this powerful city. lie would appeal
10 their spirit Of enterprise which could discern and
at distant benefits and 10 that Just regard their
nterpss which wssd permit them de VIII rival
city sninr to or before their
eyes the precious IN. this mighty
work conded his associates and himself anguish perhaps
10 perish f,r the want OF sdara pro- ectroa.
Mr. John A. folowed Mr. X, and that he stood
before that very lately he Ind
sons doubts Of the usefulness Of
the woskbu, after careful and minute La
become fully need that hat general had
seemed visionary. il truth most practicable
sirs would be clearly profitable only the pub
M bu who might invest their funds in the work had
no interest question beysnd that Of his eow
cens-had lands along the roueand that time had
not even suscriped the stock bat his attention having
Gently been invited SUBJECT, and enertsin he did,
strong belief the and experienced individuals. who
were the Board Of Directors have well in
formed euseves character Of the work, and the
sources on they relied for he had spent time
in examining thoroughly had been in his the details
nj the cpcrrrze carefully read the reports of The eng
peers and sc or clearer nowbcrc
IN m fnhad tbs pro6es and grades and compared
the with those Of other roads ssfs ssd
the dSia 10 probable expenditure and and that he had
come debera,eI, 10 conclusion, the work feasible
TIN, Il would furnish the Of cheap and rspd transportation
p,o6,ale revcnuethat the auxiliary which the
Directors relied for dividends while the work prsg
,.re of sreat value and mporsncespd that
On the citizens Of New York at Il its co
pleon.
peemins probable that there might he in that meeting many
lhe hnsel pbbed imressisns
character otbe work. thought useful detail end
rut his friends Of Of the data which had n