The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-27

and are again getting uneasy and clamorous for
dividends however small upon their invest
menis.
Our bravery, bonds, and breadstufs, are at
tracing considerable attention in Europe and
elsewhere.
New York and Albany Raiiroad-Whieh
Route is tho most Feasible
The public meeting recently held in the Ex-
change, for the purpose OF adopting measures 10
secure the charter and the completion ofthe Hud-
son River Railroad, was not sufficiently large and
enthusiastic to give the friends and advocates of
that enterprise much encouragement. We think
those engaged in pushing forward this company,
have failed to convince the public, that the road
can in the first place, be built for anything like
the amount of money-six millions of dollars
that it is a feasible route, or that it would pay
even simple interest on the investment II is our
impression, that if the road is built, it must be
upon the same principle the Bostonians built the
Western road, from Worcester TO Albany, and
that is without the remotest idea that it will be
directly productive as an investment, but with
the belief that they would be indirectly benefit
ted by the great increase in business, which
would be realized by its construction. The Wes-
tern road never was looked upon its ncipien
have realized more than they anticpated-they
have already received dividends more than equal
10 legal interest, and the road is in fair way of
becoming one of the most productive in the
country. 1t possesses advantages superior to
those oil any other railroad in the Northern States
II is perfect monopoly, having no rival, and SO
located that lateral roads from every direction
run in to 1t, making it great trunk line, drawing
local busn- IS from many sources.
Look at this road, and compare it with what
the Hudson River road would be- There is no
road in the country that would have so much
and such powerful competition as this, with the
most magnificent river in the world for its ex.
tent, on one side, covered with hundreds of swift
and splendid steamboats,, carrying passengers at
speed of twenty and twenty-five miles an hour,
for one-sizth Of cent per mile, and on the other
side, railroad, connecting with the whole net
work OF New England lines, drawing business
from the East, sufficient to give its stockholders
handsome dividends, which will enable the COM
pany to do its through business at the most re.
duoed rates, and carry on q very powerful op-
position. With these rivals in the field, what
prospect is there for this Hudson River road to do
a profitable busincss7 1t is stated that the boats
on the Hudson River such as the Hendrick Hud-
son, and the Isaac Newton, can almost clear
themselves in one season, at a fare ranging from
twenty-five to fifty cents per head, from New
York to Albany If this is true, they can carry on
competition which the cheapest railroad in the
country could not contend against This would
be the most severe opposition the river route
would have to contend against, and it would of
ITSELF be sufficient to draw away, for at least nine
months out of the twelve, the bulk of the whole
business OF Albany, and the towns on the river.
The Long Island Railroad runs parallel with
Long Island Sound its entire length; the distance
Is run by the locomotive in three hours, and by
steamboats,, on the Sound, in seven and eight
hours, Notwithstanding which the beats carry
u dozen passengers where the cars carry one,
and a result similar to this would be exhibited
in the business Of the Hudson River boats,
compared with that of the Hudson River Rail-
road. In country like this railroads cannot
compete with steamboats,. The Hartford and
New Haven Railroad Company are building one
or two large and magnificent boats, to run be-
tween this city and New Haven, when the dis
lance between the two cities will be covered
with ease in four hours; Notwithstanding the
construction of railroad along the Sound, be-
tween these two points, is determined upon, and
routes where the navigation is frequently rough
and unpleasant, and often dangerous railroads,
constructed at very reduced cost, cannot COM
pete with steamboats,.
Another view to take ofthis subject is the diff
ference in the cost of construction, between the
river and the interior route It's estimated that
the river road will cost six millions of dollars-that
is the estimate-and due allowance must be made
for such statements, put forth before the stock is
filed up. We cannot call to mind a single pub
lie work constructed within at least twenty-five
per cent. of the original estimate. There are SO
many little things never thought of in the early
calculations, or at least never put down, that the
cost, when completed, invariably exceeds that
contemplated. Making fair estimate Tor
these deficiencies, it would not be far out of the
way, to put down the cost OF the Hudson river
road at eight millions of dollars The interior
route will not, when completed TO Albany cost
moro than four millions of dollars, or one half of
the river route, OF the same distance. About
hity-fou miles Of the inland line is constructed
all but ten of which is open and daily used for
travel These fifty-four miles have cost more
than two million OF dollars, one OF which was ex-
pended on this isand-,hs side of Harlem The
rest OF the distance TO Albany, about ninety miles
provided there is no connection made with the
Western at Chatham Four Corners, can be CON-
structed in the best possible manner at an ave.
rage Of twenty thousand dollars per mile, making
aggregate OF one million, eight hundred and
eighty thousand dears, and grand total of four
millions for the completion Of the lne 1t must
be understood that there is included in this, depot
property, and the present appurtenances of the
road, Which are nearly sufficient for the business
on the road for several years. With the excep-
ton OF the Long Island, this will be, without
doubt, the cheapest road in the country.
IL will be seen that there would be, according
10 this calculation, difference in the cost of the