The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-04


r. Co. for months, cash, $4,000
Bonds on ditto, 1000
Excess of receipts expenditures for mos 90
At the period of last report the Board of Directors
came the conclusion proceed vigorously in the con-
strucon Of the remaining portion OF the work. with
view 10 s the I'm ana 70 onh
ring its progress would be required for that object
Accordingly taking advantage OF the low prices Of labor
iron and materials the whole work put Immediately
under At the time the quantity Of iron
qnred for the whole unfinished portion of the road.
purchased in England at the following prices $500 tons
at Ca U.s. per tom and at f5 3D. together
1000 ton of the solid rail OF the pattern used the
Two instalments on the stock Of the company have
been called amounting together to the sum Of $ssoi 49,
the whos Of which has been promptly paid into the ,Tea
been expended in grading purchase Of materials cars and
moving and for iron leaving balance on
The report OF James Shipman, Esq, the engineer OF
the company hereunto annexed will! show the present
state and progress of the work. well the time requir
ed to open 1t to the public for travel.
In order to give proper estimate Of the cost Of con-
the Sd division which commenced in ls4l at Hicks
Vile has been completed with the best heavy rail at
engineering, and every other expense
will be to state that the whole quantity of iron
New York and Greenpor and portion is daily expected
to arvethe remainder to reach here in the months of
February, March and April.
negotiation with the inhabitants of Greenport for
Depot has resulted m the free cesson to the company Of
five at the terminus Of the road having water front
OF 300 feet with depth Of water sufficient for the largest
class Of merchant ships
With regard to the sum yet required for the construc
gneer, and careful examination thereon that the
Of $3a5 900 will be adequate to the object
In reference, therefore, to the amount of instaments
that will be required the coming from the stock
holders the board of the opinion that dollars per
the companys credit for the balance of $4,000 which
they feel confident available at period III thought
expedienD will be ample to complete the road furnish
motive power and cars and put in successful ope
ration for the use of the public.
OF the great Importance Of having the transpoa
ton Departmental this road its being opened to the
public, in the most perfect and complete condition. the
board have recently invited and received proposals from
several Of the most celebrated and successful builders Of
locomotive engines and cars and care will be taken that
every Improvement in this department which Is found
will be fully embraced. The company have likewise
avaed OF every Improvement in the construc
their work and possessing the great advantage Of natu
gravel foundation the entire line they believe the
road to have the qualities Of rmness and permanently
which may not be possessed to greater degree by
other road in the country
Many inquiries have been made the contemplated
hours Of departure from New York on this road 1t sup
night line to leave p NJ (as well freight train
to leave at hour to accomplish the ranshpment OF the
freight and avoiding any detention to the strictly passage
ran) will best accommodate the public during the
Of both business and pleasure travel and by the last
named train the Southern Mail may be dispatched mme
daely on its arrival and reach Boston from Washington
the same evening Such variations from these hours will
he made as will best accommodate the public
The time required for the performance Of the distance
from New York to Boston, is estimated at 10 hours and al
lotted to the different lines as follows:
From New York Gicenport, (oi mies) isvurs.
Crossing the Sound to the Norwich and
Worcester and StOnington Roads,, ..
The remaining distance to Boston on each
of these lines. as now performed.
10 hours.
The enterprng proprieors Of the several express lines
made formal propositions for the running OF Expresses
this route.
The proportion of the travel which this road will
mand has been varously estimated it Is believed by
those best entitled to judge correctly that at least one
If such should be the result and an equal portion
of the light and valuable freight including the mails and
expresses obtained the calculation of income hereto
fore made by this company will prove to have been much
within what it now appears may be realized, and which
will probably enable the company to give to its stock.
holders dividend at early period after the opening
of the road.
It will be observed that the length orhs road "a miles
from New York to GIeenpor and it should be borne in
mind the profits Of road Of this greater length
be realized in an increased ratio what
may be termed short roads.
The near and certain approach of the period when this
work be opened the public and in receipt Of in
aoriing favorable opportunity for the Investment of
capital from which only dividends may be realized
but a stock which may be EXCHANGED in value when
that period shall have ed and the objects long
struggled for have been accomplished
X Is subject OF much satisfaction to the Board, that
they speak confidently, not only the ability
Of the Company to complete the work. that much
and satisfactory evidence before them to its future
productiveness and value.
In reference therefore, to the question which must
stantly the of the returns which this work
may be capable of yielding satisfactory to know that
confined within the limits of Long Island alone this
road raverses routewhch affords extensive of
transportation and passengers which experienced has
shown to be sufficient defay every expense of Com
pany and leave annually surplus towards dividends
But when it is considered that this last link of 81 miles
is to be forthwith supplied forming continuous line Of
than thousand miles of rail road bord
and aforing facilities for transportation Of freight and
passengers to millions Of population inhabtng the richest
and most populous portion Of our country and connecting
in almost straight line four Of our principal cities Bal
timore Philadelphia New York and Boston, there
longer be any reasonable doubt that this road will make
returns tho stockholders amply adequate to its cost
By order of the Board.
New York, December %, ls43.
OFFICE THE LoSo Island RAILROAD Co.
New YoRK, December %, 1919.
To the Pyesdent aud Boordcf Direetorsef the
u L.LR r. Cot
The following report will exhibit detailed view Of the
present condition Of the department OF the Long Island
of way has resulted in the ccssion oil large portion OF
the land required and the terms Of those landholder with
whom no final arrangement has been made ascertained
so render certain that the amount required to
complete the right Of way will not exceed $4,000 The
arrangement for depot At Grecnpor will be commented
The cont, acts for the completion Of the graduation
the whole road assigned "a responsible men during
the past summer for eight per cubic yard fer exca
yation the to be in cash. or onefourth part In
bonds at per cent interest ct the option of the Compa
ny-tme from six months 10 four years date The ave-
rage price paid for excavation since the recompencement
of the work in is4i has been ii cents and hacuon per
cubic yard. -, =.
For Convenience in the construction Of this Road,
have divided the whole line into five portions or divisions,
Div n miles from Brooklyn to the 9th mile at Hicks
o 90 the 9th mile 47th willie