New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-06-28
New.York and Erie Rail Road.

This work has not yet received from the discern
ing and money making portion OF our ciurens '"e
attention which il deserves /, has been taikea Vi
and heard of for wears as OF great public importance
and as what the CITY needs and mus, have II has
been embarrassed and delayed. Ii has been hoer'
aIly aided by the State set small portion only OF
i Is completed. The public at large know little OF
he WINS and xherefores of its history. snd noxi'h
standing the prevalent conviction of IL great mPor'
lance many seem BE- Of opinion that its completion
REQUIRES sacrifice OF pecunary interests on the part
Of those who supply the funds
Is rhi.a inst conclusion VIII the stock be pro
s,.ble a. an investment VIII il be saleablc al a
profit These are the proper questions to be sub
m,,ed 10 this community These sire the questions
sor those who have money and those who wish TO
add 70 what they have VIII it pay VIII II yield
,ooJ divi.endsl Wilt sell al a premium Those
yho are or shall be convinced and satisfied that these
ruc.tous are 10 be answered decidedly IN the aiir
native will show what they think by subscribing TO
he stock Those who hold the negative oplnion or
ire in doubt will refrain from subscribing IL Is IN
vain 10 urge that the road is important and necessa
~; that il would greatly increase the value OF rea
estate and therefore the wealthy proprictor- ought
"a build il that il would increase trade, anu there
fore the merchants ought 10 subscribe that would
,uall,, and so the CITY should do the necdtul lndi
yduals. however wealthy feel no particular respon
sihili,v In the case II they can make money by II
h.,v will be ready enough 10 take hold; II not they
can better afford TO do without II than the rest OF me
citizens can The merchants do not appear TO ihnk
il 80 indispensable but that they can get on without
II The CITY at large could hardly be expected TO
wake M agd make common cause for the speedy
completion of this work, If il were as necessary a.
the light of day or the air we breathe. WIZ II
paw If il will, the amount wanted Is no o5lec-
ton. There will not be enough of it. Hundreds
will want it after the subscription Is closed VINO can
not get it. VIII it pay
We propose to state, number OF considerations
tending TO show that will These derived from
publications of the Company and other sources.
The route Of the Road is with reference to trav |
81 and traffic good one it connects this CONNER
cia capital with the Lakes and boundless W est-n |
is unoccupied and will command the business OF an |
extent OF country half as large again as 'he states
of Massachusetts Rhode Island and Connecticut
The population to be Immediately served by this
Road along its route between the Hudson and Lake
Erie. numbers over half million; add this City am
BROOKLYN, and the total exceeds a million The
population of the three States above mentioned
was by the last censas little over million. Those
States pay dividends OF to per cent. on Railways
within their bounds hich cost % millions OF dollars
Proportionaie earnings on this Road would pay ~
per cent on about 40 millions. Those states com
prise an area of $500 600 acres. The area immedi-
itelv tributary TO this Road, within which there can
be no rival comprises l2. 600 600 OF acres.
IL would seem reasonable 10 calculate that Ran
way on such route would pay satisfactory divl-
lends on the total cost With bonus IN the pre-
sent case from the State and the old Stockholders.
aud in land, Tor Roadway, equal TO some ~ percent
of the cost il would seem likely TO pay.
p The charter is a good one. IL contains no dis
advantageous provisions Ii provides Tor contnu.
Gus line of railway within this state $50 miles IL
length from the Atlantic TO the Lake When com
pleied from some convenient point IN this city, ana
extending along the East side OF the Hudson some
20 miles TO the place OF crossing. II will be The glory
Of the work that II is protected by one charter: SUP
iec, TO the same laws and conducted under uniform
regulations.
g. The general plan of the Road i good. The
Track i 6 feet in width, which on 50 great thor
oaghtare is now deemed to be a great advantage
About three ,ourths Of the whole distance Is laid III
the valleys of Rivers. the Ramapo, the Delaware
the .usauehanna the Allegheny and their tribuia-
rics.
l. The cost of the work is very moderate. The |
expenditures hitherto amount 10. siIOOOOU
To complete the single track with rails requires oOVOV
And 70 furnish il with engines, cars, ac.-- loOoOOO
Total 81, 100000 |
Equal to 500 100 per mile, which fora hailwayoi |
this character must be admitted to be very NOSE |
rate Other roads with heavy rails have cost much |
more many of them tw ice much. On this work |
the road way instead of costing or 8 thousand dol
lars n mile appears for the most part TO have been
yraiuitously coded All the examinations OF the |
contract prices for work. by Legislative Committees
and others have resulted in showing that the prices
paid were lower than on other works. That por- |
ton of the work WHICH IL constructed with piles cost
less than the general average; but even the Eastern
Division which is in operation, appears to have cost
only $4,000 per mile.
Under the present Law the Road will cost the |
,.1l holm lpi onH
the old stock reduced one half about Sls,5OO per |
mile supposing the above estimate OF millions to |
be sufficient TO complete it But il, owing to the
high price of Iron or other circumstances, or |
hundred thousand dollars more should be required |
the cost will still be within $40 900 per mile. With |
such route and at such a cost there would seem 10 |
be little to doubt of it, prcductiveness. The
line of Railways from Albany to Buffalo cost on ali |
average, appears by the Comptrolers late Re
port, over $50 900 per mile. They have Hat Rails
and carry little else than passengers; yet they pay
good diyidends-some as high as II per cent
TO be Contnued)