New-York daily tribune., 1845-05-28

y.
OF these the TWO first mentioned and the Read
ing, have a double track.-The average cost per
mile OF the whole of these tosetherls SD ,GC0
The line of Roads extending irorl Albany 10
Buffalo, as stated in the Comptroller's late Report
cost an average oi S:;0,100 per mile, though. eX-
cepting the first l6 miles, furnished only with Hat
bars.
Ii is apparent therefore that TO the Stockholders
the costper mile Of this Road will be less !han han
that of the principal works OF similar cnaracte!--
Even those in the above list which nave oul q
single track making together over 900 mics, cGs
on an average but riile less man oVoLel io
The cos, of this work, including the proceeds OF
The Stale Loan and the whole amount OF the oid
Stock, will not exceed 5000 pcrmlie, completed
and furnished. H.,
If to this be added reasonable estimate oil me
| lands gratuitously ceded tor the RoacRay, alo
;or stations. depo:s and other purposes equal 10
at least $500 per mile, the total value offheRyest-
men is s1ral to SIS, 800 per mlle, or 4Q fsf cent
nors than ts cost 20 the Stockholders at so, 200
ner mile as frs, stated and over 80 per cenEHlore
Than It's cost at SiS500 per Tnile as statec IN case
of reduction OF the old Stock
This statement may reasonably satisfy those who
have imbidcd erroneous impressions upeR the SUBJ
sct that the funds heretofore employed d1MtHs CON.
strucrion of this work, have not been squdfasred,
or mprovldentiy applied. ~
statement derived from official documents, of
The prices paid on several important public works in
conclusiveIy shows that the prices paid on this
work were lower than on those works by a per
centase VARYING from p 10 50, and 10 some items
even more.
Those who are intimately acquainted with the
facts as 10 what has been done, the character OF the
work performed, and the prices paid, have no hest
tation in challenging comparison OF this with
other works and believe It may be safely affirmed
that no similar amount of expenditure on other pub
lie works has produced an equal amount or value oi
results.
from Piermont 10 Goshen was $4,000 per mile,
that s exclusive of the outfit and OF the per- docks,
etc which are constructed not for this Division
merely but for the whole Road, and cost about
S220, 900.
iI.-Iy RELATION TO THE PRoDUcTIvENEsS oF THE
WORK WHEN COMPLETED.
IL NAV be advantageousiy compared with the
Railway extending from Boston TO Worcester and
thence 10 Albany, POO miles, which together cost
an aggregate OF 80 6G5 30 averaging trlile more
than S53, 900 per mile. The Rails are OF heavy
iron, and there IS double track from Boston 20
Worcester nearly one-tvurlh OF the whole distance.
The net earnings of The entire line In 1884, amount
cd -So9i,Si2
EQUAL within 4 fraction 10 per cent on the entire
cost The net income per mile averaged.---. S3.l74
Supposins the business on this Road should only
b. equal IN proportion 10 It's length TO hat ol the
Boston and Albany line last year, yielding 81, liper
which is over II per cent. on SS,3oO,e0O, the cost
in round numbers OF this work, wIlhiis fixtures and
equipment at SlS,500 per mile.
Ifthe addition OF double track on this Road for
like proportion Of the distance, as or that from
Boston 10 Albany, be allowed Tor at the rate OF
$40 600 per mile amounting 10 about SS3O,0OO and
making the total cost above stated, So, ,2D0Q00
then the net earnings as above stated, would be
equal 10 l3a per cent
But since the cost OF this work TO the Company stated
viz. IS 35o,oo0, comprises
OF existing dobt. 100000
Bonds be issued. GOO, COO
Stock for the construction. 100000
For outfit. ft.-....--..-..--..-...--." 100000
Old stock Observation-Disclosures" 100000
--475o 900
sS,35O,O0O
It results that the net Income as above supposed
viii pay rcr cent. on the Bonds and ae5,
amounting yearly o----.--..-----.---.-- 9l6,OOO
and leave a balance Of..............SI2 81 2I2,3OO
equal to 25s per (Sl,2l,25O) 45OOOo OF Stock
If, therefore, the business Of the Road should in
proportion TO lis length, IN other words If the net
earnings per mile should only be equal 10 the ave-
rage net earnings OF the Road from bany 10 Bos-
ton. the results would be as above stated.
The late Board estimated the annual net earnings
al 81 Si3, ,500 about per cent on the cost less than
the resul, of the above comparison with the line
from Albany TO Boston They however allowed
nothing for any probable increase OF inhabitants,
products or business on the route during the time
10 elapse before the completion OF the work, OF ior
travel and traffic 10 and from the Lakes, or Tor
transporting the mails They also guafd-dy
avoided allowing all the advantage which is likely
10 result in respect 10 profits from the great length
of the Read.
The following works, tributary 10 thi, road, are
in contemplation or completed:
Distance Of poin,
Character Of the work Length in Of intersection