The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-12-05

CAPITAL espesdsd IN ths,l production /, ba only THE
faSjeeuess capacity which reGisr- ,hem isssrYsdly
Insa's cipabc patronage bat their natural effects In
reducing the cost reproductions to the market of con-
sumption, and 10 reality and effect operating az q labor
saving system ofprotecton to the consumer tho agr
culturist, and the manufacturer.
With these general outlines of our future prospects,
we are naturally drawn TO the consideration of subject
Of local and direct interest to this cityths speedy
ructon Of railroad to Albany to draw to harbor
tnepmmenss products Of the great West The winter
mas now closed on US, which, in very short time will
show the improvidencs Of situation arising from
want Of intelligent effort through which, Boston is
TO enjoy that trade which legdmately belongs
TO New York. II Ia unnecessary to psrticulsrizs
the various interests which to suffer by this diver
sion; but none can be pjuriously affected than
our magnificent lines Of packets IL this PER
verse situation without remedy Is there no
possibility to change the current No project
which could unite the efforts of q population 80
powerful as ours 2 Are we to be, year after year,
complaining of the absence of railroad connecting
with the North and West That this should not be. is
certain. That ought not to be circumsanced, ID
true and that il disgrace to the enlightened energy
of our people, il as little questionable
The main cause Of inertness aries out of the
stupid state in which the public mind 10 kept by the
scting projects which constantly urged on the at
rtntion Of the community and without taking into
sideraon the immense losses this city Is sustaining the
LATENT endurance Of the public seems still to be well
disposed to rest in it, uxuriant sase In this apparent
apathy, happy to learn there are some indics
lions Of rsbeious spir that intelligent gentlemen Of
character have taken such interest in the subject of the
public wrongs, a. may lead to immediate improve
ment If report DO true. several large capitalists have
become purchasers Of the Harlem stock such prices
place the cost Of the road already fair
valuatisn If this statement can be relied on, we
can see no reason why, through their systematic efforts
the road Of this company should not be completed, to
unite with the West stockbridge, within twelve months
coed to be constructed il not only favorably To-
sr profitable business, but will pass through a
section of country Of easy grades, with serious mpe
ements The cost Of construction from the improved
knowledge Of eng ineering, will be less than any road
could have been heretofore supposed.
In placing the terminus Of the Harlem road at Somers
the distance to be finished 10 afford direct route AL
bany, would not exceed seventy miles, most part Of
which over gently inclined pain and from the
point moving transverssly to the Housatonic
ncaton to Boston would be opened by the way Of Hart
ford Of inestimable value These results unques
tionaby important that the dlatory movements Of the
Harlem seem TO be not only sterious but nexpcable
and may be set down the principal ground which
any novel institution 6nds encouragement
The embarrasments which have attended the projects
of this company susceptible of lthe most easy
o'ution, the road having been commenced under bad
auspices, and at time when little known about the
construction of railroads. tine outlay, consequently far
exceeded the anticipation and encounteripg unforeseen
dcultes the fiscal operations of the company fell
far into discredit that efficient confidence could
aroused in its favor. The improvements and develope-
mens which have been recently made in the fortunes Of
this company seem now to have inspired better feeling
and present strong and satisfactory indications of IA
vorable termination to their exertions.
II the road was finished, the bonds of the company
would command the highest premiums and without the
slightest difficulty, if properly organised, whatever
amount Of money may be necessary to this OBJ
ject could be easily obtained. The direction requires
some changes among the members are gentlemen of
very respectable standing, but entirely inefficient let
these give place to gentlemen of equal respectabiy
possessing greater influence in the community An
institution of this character requires of business ha
bs connected and actively employed with the princ
pal interests Of the city. There quite too many
meA in the direction, totally and entirely igno.
rant Of the tone Of public feeling, and unsuscepble
acquiring any knowledge OF Is recsperavs impulses
Tie stock must be retired from the market and like
other valuable railroad scrip. kept out of sight 1t has
been entirely much of foot ball. Ne ups and downs
been among me Cnlet causes Of Its embarrage-
S.nts If the value Of the stock was placed at par
there would be found abundant means to
complete the road when the stock and bonds would
be sought for subjects Of preferred invest.
men'. The short distance in operation to White
Plains yields sufficient discharge all the
interest dee by the company and expenses and
to pay dividend Of three per cent easy therefore
to anticipate what would be the productivenes OF the
roa when extended through its whole length especi-
ally the ccst OF increase il almost in the inverse ratio
. Of that portion which has been in use.
We call, without reference to profit, on our enter
psng capitaststo to the support of the company
setting aside all former pejudces, looking solely the
main object in lew; the Establishment ola railroad com.
muncation 10 chief Of wealth There is no
conflict Of interests between this any other
company, and when the Harlem road shall be completed
to Albany, the amount Of business which will com.
mand will want and find vent, by the construction of
branch through the Western portion Of the city, descend
Ing through line, passing under the Croton aqueduct
We treat this subject Of general interest," per.
ecy regardlssso the preferences Of cques and such
we hope will be the future view taken by the public the
one sLy which will succeed in urng me object in
contemplation. The citizens of New York owe il to
themselves to push this improvement, from other
than patriotic motives; but subject of valuable In
vestmsnt, those who shall properly take hold IT, can
no. iail to make large profits.
Span mock scxchanra.