The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-03-12
$6l9. 800 $4,000


The New YORK and Erie RHlIrOad Co. now petitl0nnG
the Legislature of this State release its claim upon the
road for $3OcOOoO and for the privilege Of locating
part Of the road in the State Of Pennsylvania The re-
lease asked condition that the Company shall OBJ.
tain subscriptions from responsible the amount
OOO collect thereon 25 per cent? which per
antee that the remaining IS per cent viii be collected all
in due me and that with such subscription and the pro-
ceeds Of 600 Of bonds to be issued BY the company
position Of the State is taken into consideration with
spect its loan Of three Millions there be doubt
that the advisable for the State to pur.
sue Is 10 pass such will the building
Of the road As its lien is it is valueless and
in reference this matter state that"The loan
been looked upon much lost to the State and has
not been counted among its funds No one, perhaps
duges the expectation that the company can Of IT,
el pay this debt; capitalists will subscribe to tho
stock Of the company when the money paid their sub
the unfinished work which the only security the State
can be OF earthly value to the State unless further
ia ms be IN Il N ~ be-
dent Legislature" If tina road is built the taxable
perty the State through that section Of which will be-
come tributary to the road will be enhanced in value
as TO reimburse the State indirectly for ts loan Under
such circumstances, then, it is for the interest of the
of the road and the directors of the company who have
been thoroughly canvsssng the dispositions Of our ci
zsn respects the work. assert that should their rct
ton De granted its completion il beyond all doubt The
southern counties have certainly claim Tor legislation
in their behaf yst nothing has been done for them;
whilst the the been converted by the
Erie canal into blooming garden Legislation should
be extended equally and mparally and unit, tho State
70 the New York and Erie Railroad COMPANY the inha
bitans Of them will have just right to complain. The
city OF New York also has deep interest in this project
its construction exists Boston 10 making rapid inroads
upon their business by the creation of that
through all seasons Thadelphia and Baltimore are DO
ing the like; and uness we soon shake OF onr ethsrgy
c &c 70 Is0 RI Of the age city will ere long
The Company also asks the privilege Of locating the
line for about neen mile. in the State Of By
Port Jarvis pass up the valley Of the Delaware until il
Can recross the Delaware River without injury to the
Delaware and Hudson Canal and then continue on TO De-
posts the whole distance being about ninety miles and the
maximum grade not exceeding thirty feet. Should the
sna s pc 70 through sullivan county
about fifty miles, the grades will be sixty feet TO the mile
The chatter confines the Company to the Southern tier of
into the State Of Pennsylvania appear from the
inhabitants Of Sullivan county and the Delaware Hud-
son Canal Company. That the Sullivan county people
should desire have the road through the centre Of
their county ia NATURAL however great may be the adi.
icna expense Of transportation over the high grades al
Canal Co. cannot be accounted for unless ascrbe 10
the fear Of competition. II cannot BIO supposed that by
crossing their canal once the navigation Of will be
sructed but by any possibility such should be the case
they would have their remedy for damages against the
Railroad Company. iii competition that the Canal
Company breads and that competition is asserted will
reduce the price Of the coal with which tho regions in
sboundha to be penetrated by the Rail-
It is also becoming necessary ths should he able 10
reach the Lakes in the winter by than one Railroad
route. The only have through the centre Of
our State requires balance wheel that will produce
greater regularity and cheaper rates. and we have no
doubt that the New York Erie Railroad will eectaIy
the purpose We therefore hope that our lersa
tors will 1T to grant such aid will its com
petion.
The Delaware 4 Hudson Canal Company in oppoeipr
tho construction ofthe New York Erie Rarns apcms
to lose sight Of much grsoter rival than the Erie Rail
road can possibly he We allude to the Morris Cansl-
An enlargement Of that canal from Eascn To Jersev jtv
the boats navigating the Lehgh Canal could pass
from canal to thu otherwould enable the Morris Ca
nal Company to land coal at Jersey City cheaper than
any other railroad or canal company is stated that the
present direction Of the Morris Canal intends
the enlargement immediately upon the opening OF sprine
and are determined to push the work through as speedily
ms possible This company has heretofore been mere
bubble and SO long as the canal its present
its stock cannot be OF any value otherwise han for
speculation; but If the company make the canal what il
- capable OF being made must eventually be as produc
tive az any canal IN the country All tho works Of inter
nal Improvement, dvergng from. connected in any
way win TINS city have been ruined by the spirit of stock
70 noing 80 general among capitalists, and very
dcult to induce the public to place any confidence In
statements in relation TO any public work emnuatinr from
the stock Spectators Of Wall street.