New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-12-15
Ncw-York and Erie Railroad.

An article having appeared III morning pa,s
OF the It'll inst and reports having Secn circulated
what objects or motives will not row stop - lra.
which are calculated 70 produce erroacous iupresss
in relation 20 large contract icr railroad iron mNsA
the New. York and Ere Railroad Company. II secs,
require IN the estimation Of some OF the friends L
work simple statement OF Tue facts OF tue c'c VIZ
is herewith submitted leaving II with the stockkoe
TO decide upon It's propriety.
For reasons which have heretofore been explase;
this Company have been heretofore unable 10 20 IN
ward with the work OF construction rapidly as Z
Directors desired. hence they have required bn, ,nt
amount OF railroad iron Tor which they have been COR
p,ed 70 pay - dollars per ton IN this city beside Ii
expense of transporting It to tho point required The
have IN consequence ut high prices declined ordering
purchasing iron beyond the amount absolutely wsat
But since the decision OF the Commissioners N favor
the best for their road tor which they have bee
cuptending tor nearly two years past they determinA
10 lose no time in providing on the most advan,asecs
terms tor the iron necessary to lay the track 10 Ers
hampton the contracts for the grading OF which iaeJ
have Just closed
By resolution OF the Board circulars addressed
to all tho principal manufacturers and importers Of
iron. ascertain upon what terms they would iTash
l20O1 tons during the year ot n and IL. Ansur,
were received from all the parties applied to- the loves
price named being 81 50 per ton, delivered IN Nsu
York at Piermout except by the parties with whz
the contract WAS concluded their proposal being s.
per ton delivered free OF charge on the line o. t.
road AT the LackHwaNcn River about lsO miles re.
New York two-thiris payable IN cash. and one third
the bonds OF the COmpNny-this price being eSt,
To 500 delivered IN New-l York. The company vii
whom the contract was made were owners of lH,
property IN the Lacknwanna Valley, on which ce;
works located some 30 OF 40 miles from the Y
Il +. K Il which works were in state o.; torwardaes
yet requiring additional capital 10 complete ntr
IN time To enable them 10 manufacture so large gun
tty OF iron They applied 10 the Company tor a r
OF $1,000 advance such contract offering
the payment with interest by bond and moriss
ON all their real and personal estate valued at S2o@
together with unquesIloncd personal security good
more than ten times the amount oil the loan. The
pcdcncy propriey OF such loan being objected to
the Directors 1t was not granted.
Some four or hve OF the Directors. with 9th
friends OF the road considered the acceptance OF
proposal OF no little importance. by which the ra
could be obtained Mt the lowest possible price and
lose TO the company the advantages OF having anOihe
mandatory OF railroad iron established which, BY D
advantageous location and proximity TO the raiIoe
would enable the parties Ia make aud deliver Hoa &
the pon, required at from i've To six dollars ess p
ton than it could be- obtained from any other quartz
taking into account the expense oil transporting To
this city. making difference OF at least $4,000 q
1900 tons beside providing tor the sale oil about s
600 of the bonds OF the company at par.
To this end they determined 10 make An effort To Tas
the required amount the only means OF securing III
objects above named. The parties who agreed 10 coz
tribute of their private funds 10 this object did 80 WIZ
great reluctance little anticipating that their motives
acts could be perverted misundsrstood, believing
that they entitled to- and deserved the approoaad'
OF every ckholder and friend Of this great
The Directors haue ut great sacrifice OF time and VIZ
out any considerations of mere private nature ds'os
themselves with almost unring attention. To the labor
resuscitang and carrying forward this great worS al
have discncumbered 1t OF vast amount OF dihcuan
and cmbarrassments and placed it in condition to o.
serve they believe the entire confidence OF It's en
Ia relation To this any other action OF theirs The u
rectoTs Individually and collectively challenge the sre
est scrutiny and the most thorough investigation r
all their and motives In connection with this yea
public improvement DIsEsTot