The New York herald., 1844-12-13

work. and having accepted ONCE and in the discharge
Of their trust invited the public confidence,
not conceive the motive Of their general backward
ness, for there Is no Disgusting the fact that the
subscriptions progress very slowly. If the direc-
will not aid, why should individuals, less in
formed, shoulder the whole burthen; and In fact
could snch result be anticipated according to the
rules Of common experienced The force Of example in
this is Of extreme importsnce-to withhold is to
create dsrust while its exhibition could not fail to ope-
rate as guaranty Of sincerity, sording practical en-
dorsemeDt of the value Of the investment II also pre-
sens another consideration, which ought never to be
overlooked that with the strict personal the
directors. the affairs of the company will likely be
administered with economy and judgment.
The plan proposed for the construction Of this
great thoroughfare to the Lakes appears only
sonabe and practicable but presents the hattering
expectations that the ultimate operation OF the system
would prove advantageous the stockholders than
ull subscription to the whole amount Of the capital
stock II we compare the general features OF this road
with those OF the Western road from Boston to
Albany we are presented with the extraordi.
nary result that, under every disadvantage, the
public spirit Of Boston has Difficult
ties which seemed to be insurmountabe in the con.
strucon Of road through country without any colate
raj local attractions the citizens Of ~ York dare
not venture the completion Of the Erie road passing
gress uniting with canals, railroads. rivers and lakes
each in its Of immense tributary resource The
Boston road is in length two hundred and one miles and
costs SIS 600 900, of which S. Oo0oOO debt the Eie
Eroad will be four hundred and eight miles long, and in.
cludrg $500 900 debt will not cost the company over
The Boston company anticipate to pay large
bdivdends based on their present and by the
3operaton of their sinking fund.- will discharge their in
debiedness within reasonable PERIOD while such Is the
confidence entertained In the proableness Of this road
that the bonds Of tho company at premium Under
such circumstances, does incredible that there
should be any reluctance the part Of capitalists to en-.
gage in the Erie Railroad tho local which are
estimate and when added the though business
would in less than five years, free the company from
debt and leave the capital stock under 900 0oO to
enjoy the sole profit With subscription Of 81 900 OoO
the completion Of the road is rendered certain as has
been asceaiued that contractors the western portion
oithe road will take stock pay ment which
VIII leave the cost Of the superstructure and other out
lays, buildings engines cars. &C., be discharged by
bonds, to suit the convenience Of the company.
TO make upthe two millions, in addition 10 what is
already subscribed about 800 900 wanted which
the energy Of ten could easily procure il the direc
tors will commence and head the subscription with
small testimonial of beralty It is understood that three
of the directors have taken three hundred shares each
and supposing six of the others take much and the
residue two hundred each we may the hope, with conf
dence, that the following schedule woud be completed