The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-29

AZ favor OF the Harlem il the length Of road already
nd having thus passed the preliminary
ana principe difficulties, the residue can be finished
'nh e'gh zen months provided adequate means be in
meoatsiy aissd and judiciously applied. 1t will not
however answer to make each succeeding twenty niles
WIN snn H. speed, in three years, evdencng neither
energy economy; from which dila.ory and IMPROVE
cent scrastnation the entertainments of the Harlem
comp any have mainly arisen, the and effect of
prep nderating stock jobbing spirit.
F3rs u careful examination Of tbe man. now exbibi.
ted at the Merchants Exchange, it will be perceived
ina. ie Hudson River company will have to contend
WIN msuperable dimcultss. Should the road be
suue ted it will prove waste Of money and labor and
whs finished very far afsrsr to it, inland competitor;
iorN Phatever may Be the existing difficulties and dis.
tres"s Of the Harlem company their I'D will sventu-
any % built to Albany. The location Of the Hudson
road Son navgable river whose borders are not only
extron sely serpentne but faced almost the whole
length with rock Of the hardest and most tenacious
eharat ter; and in order to avoid some of these
roubi ssome impedimsnts. miles of bridging become
perish able
Ii b srdensd with these inauspicous circumstances
the adson company shall attempt organize wa
oonh lently predict, that the first dollars will prove
Inc My instsment and that the three hundred thou
ahd collars, rciculousy and credulousy advanced by
'nos who do nottak the trouble to examine for them
seiV o. will BIO appropriated to the road In con-
20. Piauon II, however, we be mistaken In this fore.
'so ing We shall then witness vcisstudes tricks
to hersett and evoutions not less hsreauin and VA
tha the extraordinary changes which ar. go IA,
enuily Inhibited at each turn of IN. ux.,s-;or.
KafhdiseS Pe The project will prove useless to thos.
whe Vehs are tholr capital, . fraud on the small
'seAaoios ana ihporsr, every way q disappoist
menf Of tn public requirements svsntuating brand
ssecire hon new York conservative energy m falur.
and di sgraos To Bostonians, it will eff IA h.,nr
" m pros fv-
pect Ii a. such unneighborly cond A, ,h.-
shargett as che insdgators Of one J,>te De ,..
To thav calm observers at the a,s nub,,c ~..- a.
want Of tatisioel information occasion.A ,roh -.
e, ana sA"y Q. NOSE We for instruet;on fl,
that ney we're about TO- be grow.y imno,ea On :,
uue ths "el de'rsred speeches of tb. orator. w..
Aed WIN g. ena~squsnt representations of the u.css.itv
=. railway to the depot Of the western
"''e' OUT eHher Of the elosusnt gentlemen cond..
corded to CO hpars thu schepo. th.r 80 .S,.
""a INC On" GPriss now in prorrss. rh. ...L 49,.
~ a.'' ave puzzled thair ng snuity. and MIGHT hov.
"a their hasty plate Of SOUP
,,ro, . examine. carefully, the financial int.rs.t.
IN, yea IN Inc extension of these embrvo r,x.
'~su'ions sndaiso t@At thea a. matters of genera!
"ncern' we shall Eo leag hesitate in concluding which
ought 70 comm I'D ths immediate patronage of private
capitalists. rN
sefrisg to the probable cost Of the Hudson River
COMMISSIONERS,
six millions of dollars must be expended one moety of
which is to be raised by stock subscriptions and the
sher by mortgaging the unGnshed work. 1t is also
represented as an nducement to that con-
tractors stand ready to take million ofthe capital stock
az part payment OF their contracts for grading But
those who have had experience, know that such
engagements control the independence of the direction
anu consequently, contracts for stock always
avagant It was this very description of contract that
YOrk md
contractors engineers and directors were brought into
oon'oat colon and in the manner the Ell lie Rail-
r"sa company became ruinously embarrassed. If tho
srasng can DO performed for two millions, a million O
's'k is gwen Is bonus, and If not then the conrac
tors Will have to sell their portion the operation of ne
cessity will be to break down the market value
thus appears, not only that this company is to CON-
sace in error, but that the whole property is to Ia
Jeoparded by mortgage. It may however be fairly con
ir" the rough and ready estimates which have
seen formed that the regular dupss will soon Inv. "a
cry cut, help me, Csssus or | sinkn
10TH Judgment of the truthfunea of the SURVEYS
inc s''a'ght line, drawn the map from Poughkeep
ss to the vicinity of Albany we should b. compelled
place no very remarkable reancs on auv norton and
"u'PS Elk millions az the estimate, on such superficial
engineering We might feel perfectly within bounds in
etins down the cost Of consummating the dull reality
@ ten mions 1t il said that the estim ate for the con
stfucton OF the Croen works was extremely &C.
OF WHICH we have very little doubt. as far az the
'co's snow Tor we oil know that tbs allowances for
ee"ay were so large afford immense profits TO ,he
contractors.
A'hough the Harlem Company may be on the eve of
Its stuadon is, nevertheless not desperate;
and should some kind spirit place it in charge Of tho
count oil Chsncery might ind relief from the insane
guardianship which i. is now exposed IT, however
us late De Verse than anticipate by tho sale of
'he hypothetical stock those who have bona 6de in
.ees IA lac company may geek remuneration from the
eeon as every member OF the board, acquiesc ing in
the transaction has rendered himself personally liable
'or he spurious issue This il the deliberate judgment
OF learned ceunsol and those who have not recorded
their written protest. may Hnd when it is too late that
their official honors have not led them 10 repose an
bed Of roses.
There Is good secury those who are ip,plicated are
mes oil responsibility in which agreeable category we
Imagine the whole direction may be ranked they would
thsrefers, md it to their interest to lose no time in
making arrangements to retrieve the stock, thus rnpro-
perry ersaed and in order to carry this suggestion into
execution, with the least dificuy to themselves thew
haa best assume the responsibility Of the loans endors
ing tie bonds Of the company for the security If tho
creditors
this be DONE the pressing creditors being paid off, an
advarce oil ono hundred thousand dollars would be suf
fcient to complete the read TO somers and then with
the assistance Of tho community acting in concert with
o'eSPecaSe ehd Intelligent direction, men who will
esteem Safeguarding as the primary object the road
could be extended to Albany for millions five hun
died thousand dollars before the Presidential cleo
ton when tho Mexican war will have terminated 10 the
glory OF Tho American arms
AS shave on former occasion, remarked the in |
esbtedness OF tho company will not exceed twelve hun
arsd thousand dollars when the 10 finished to somsrs
aHd adding this sum to the amount of the capital fifteen
hundred thousand dollars the aggregate nominal expen
dturs vii DO within two millions seven hundred thou
sand dollars and assuming the of the extension from
somef' TO DO three Millions the whole outlay would not
exceed five millions hundred heusand dollar. in