New-York daily tribune., 1845-05-16
.nd Er,e Rallroad.

The following Is SYNOPSIS OF the Bill that has
passed the Legislature in bssalt OF The New ON
and Erie Railroad. The bill we understand Ii ac-
ceotable 10 the Directors OF the Company and 'hai
they feel sanguhe that the Three hlii'ohs ol Doi-
lars subscription upon which II IS based can oe
obtained from our citizens. Such subscription III
sures beyond all peradventure the conpieuoh oi 'ie
Road and we hose there will be no delay In push
ing II forward as rapidly as possible Inc unoe.-
taking Is one requiring in its management exPefl
ence and industry. The gentleman now at the heao
Of the COMPANY is deemed TO possess aonnes pc
cuarlv adapted for carrying on The PROJECT sallsac-
,or,lv and successfully. He sustained by Board
of Directors well and favorsbly known IN the COM
munl,y.
The late Board Of Directors, after very cate'oi
and cautious examination into the affairs OF the
Corooanv estimated the value OF IFS properly and
,york done at s4,OOO,oOO; now that the State lien
:. released and the Stock Of the Company Is to be
reduced one half, all this property will be acquired
nv the new Stockholdersior 81, $50, ,O0O-he amount
If reduced Stock being S75O,0O0 and the debt OF
The Comoany about $500, 600. What more can they
ask
ofG.e Las passed on he IAN INST IN oed! O '"s ''
ard Ere Raiirodd. ,,, q. .ho
The Company are TO be released from al HADN'T! 70 M ~.
State provided hey shall construct single usch io ~
Hudson River 10 Lake Erie, together WIN piaH'" -
Sewburgh within SIX years. To effect ~hich ,,,on.
The law aurhorses the Company TO issue lhIe. ,,
cf Pond. In audaton Of the State lien, proElueu 80,
crf,,ion 10 Their ca pita stock Of three miohs "
yi,bn a vear and a hall. and 25 per cent. oe col'e ~
h,ao, and es spend.d and the real estate OF tho Noa
mn arped from all ncumbrances Inc bo"us ~ nav"
ritv over I'll other liens, and the interest upon lne
,bs dare of their issue the time Sed TOT tne cS
,e,op or The road 10 be deposited with the ConptroleI
In ,yon, Ia To be nominated by the Company with inc
ova of the Governor who is 10 give surety IN the sum
II 600 for the faithful appropriation OF the poceeos oi
r state reserves the privilege of purchasing the Road
within one year after IFS peon on the repay neh oi
ia cost and u per cent. Interest.
The present Stockholders not to be subject to the pro-
vision of the law unless they shall within SIX months from
m massage exchange shares Of their stock for one snare
hereafter 10 be sucdhe Company being required 10 pay
nio the state treasury all dividends that may accrue on
nv stock until such dividends be suicieh'
20 nav off such proportonatc amount OF the Stac Ie a.
the whole amount outstanding stock now bears 10 ha'
lien which lien is equal TO about doole the amount oi
stock.
Three competent Engineers Messrs Jervi' Childs ah0
en are appointed 10 locate the Road through Broome
and sullivan Countess and in practicable or Judcou>
rec cannot baned in Brorne County, p rmssion IL
granted for the construction of portion OF the Rnad around
nc Great Bend OF The Ssqueiannah River III the Sta'e
PENNSYLVANIA OF that Stale thereto having al
ready been obtained.