The New York herald., 1844-12-13

work. and having accepted once and In the dischsrse
Of thsr rmt invited the public confidence, We can
not conceive the motive Of their general backward
ness, for there no disgusting the TACT that the
subscriptions progress very slowly. If the direc-
tors will not aid, why shoulf individuals. less in
formed, shoulder the whole burthen; and, in fact
hsw could such result be anticipated according the
rules of common experienced The force Of example in
this case, is Of extreme importanceto withhold. is
create disruSt while its exhibition could not fail TO ope
rate as guaranty Of sincerity, sording practical
dorsement Of the value Of the investment It also pre-
sents another consideration, which ought to be
overlooked that with the strict personal interests Of the
directors the affairs Of the company will most likely be
administered with economy and Judgment.
The plan now proposed for the construction Of this
great horcughfare to the Lakes appears net only
sonabe and practicable but presents the most fatterng
expectations that the ultimate operation of the system
would prove advantageous to the stockholders than
full 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 presented with the extraordi.
nary result, that, under every disadvantage, the
public spirit of Boston has overcome Difficult
ties which seemed to be nsurmountable in the con-
struction Of road through country withou. any colae
raj or local attractions while the citizens of ~ York dare
not venture the completion OF the Erie road pass ing
through region OF extraordinary wealth, and in s pro-
gress uniting with canals, railroads. rivers and lakes
each In its turn of immense tributary resource The
Boston road is in length two hundred and miles and
costs $s00oOoo, Of which 5Oeo0OO is debt the Erie
road will be four hundred ud eight miles long, and in
cuding 900 debt, will the company over
SIS 900 0oo The Boston company anticipate pay large
dividends, based their present and by the
operation Of their sinking fund.- will discharge their in
debtedneas within reasonable period. while such the
confidence in the proableness Of this road
that the bonds Of the company at premium Under
such circumstances, it does incredible that there
should be any reluctance the part OF capitalists to en-
gage In the Erie Railroad the local interests VI which are
estimate and when aSded the though business
would in less than five years, free the company from
debt and leave the capital stock under So 600 O0O to
enjoy the sole profit. With subscription OF 1000 OOO
the completion Of the road is rendered certain as it has
been ascertaned that contractors the western portion
othe road will take 81 0Oe 900 stock in pay mem. which
will leave the cost of the supersructure and other out
lays buildings, engines, &c. to be discharged by
bonds to suit the convenience Of the company
10 make up the two millions, in addition to what is
already subscribed, about 81 300 600 wanted which
the energy Of ten could easily procure the drec
tors will commence and head the subscription with
smoll testimonial OF beralty II Is understood that three
OF the directors have taken three hundred shares each
ana suPposng six Of the others take much and h
residue two hundred each, may then hope with conf
dence that the following schedule would be
q Direct0ya n sub he shar. act no am