The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-26


on specie they had In their trunks upon issrn,os the
smounf
The Commissioners OF the Hudson River Railroad
Company have made the announcement that the three
millions of stocks have been sken and that the tan mar
cent instalment will be paid up by the OF March So far
as the interests OF this city this is regard
ed by many as very satisfactory announcement but
fear that the interest of the stockholders will not
30 favorably Taking for granted that the construc
ton OF the road will ultimately be commenced We wish
to make few suggestions to the COMMISSIONER for the
purpose OF ensurng the completion of the rosd III posi-
Die. In the hrst place, we recommend commencement
OF the road at Albany; by doing the Commissioner
VIII be able to overcome the difficulties created by the
early closing OF the river navigation is suspended
Albany rs and gradually works down towards this city
Inc three millions subscribed will complete the road
from Abanyto point about midway between Hudson and
Poughkeepse the three millions which the Company
authorised TO borrow after the three million subscrip
ton has been expended WILL If obtained, complete the
road from the point between Hudson and Poughkeepse
alludedto to Fishki leaving between forty to fifty miles
more to finish, which will require an expenditure
about three millions According TO estimates
based upon the experience Of several of our best eng
neers the road from this city to Albany will cost ten mil
lions of dollars and the result will show which is the
correct this estimate that made by the engine
of the company.
When the construction Of the Erie Canal was com
msnccd, De Witt Clinton foreseeing tho difficulties he
would have 10 contend with be fore it was completed and
the obstacles which would be raised in consequence
the determined opposition to prevented the total fail
ure of that magnificent work by commencing il in the
middle and working both wsys-sast and west-so that
unless it was carried through no portion Of it would
nave been OF any uss and nothing but this wise policy
compelled the completion of that work. from which the
al mn 1ortv
OF dollars We do not intend to make any compar
between the Eric Canal and the Hudson River Ralroad
only object in stating this is to point out the only
method by which the commissioners can by any posi-
bity, complete that road. II they can raise money
enough, after expanding the three millions capital to
complete the road from Albany to Sing Sing they will
secure winter communication from this city to ALBANY
as the river is usually open to that point and this road
will then have the facilities on the river that the
Erie Railroad have and an expenditure of at
'wo millions of dollars, might safely - three mil
Ions as it is estimated that it will more than one
million to build the road on Manhattan Island These
suggestions we throw out broadcast for the benefit
whom it may concern, believing that will not only
require the full amount named above, but the most
judicious and economical expenditure of that sum
to ensure the completion of this work. So many of these
projects have failed after having been partially construct
cd, that we have very little confidence in any of these
modern movements, particularly when they originate in
Wall street. The Erie railroad failed after having ex
pended about five millions of dollars and no ono ever
doubted the feasibility Of that route. 1t became neces-
sary to form new company, and to raise subscription
q three millions of dollars to carry along and
further subscription, loan of six millions more will
be required to complete There very great mistake
made in all estimates and calculations in relation to
the construction Of railroads and it is this grand
that produces all the difficulties and entertainments in
the finances Of these companies The bondholdsrs o.
nearly all our fancy railroad companies will ultimately
come into possession and the roads their own &C
count leaving the stockholders worry poor chance ore
covering fraction Of their investments
The immense debts these companies create as soon 40
they get started up the substance Of the whole
concern, leaving but the she'll which deceves thu
public SO long remains whole and one sees tho
little value they possess until the she'll is crushed The
stocks of most of fancy raread companies are mere
Shells and before many months Of them will prove
1t opinion that the stock of this Hudson River
railroad will BIO of the greatest railroad fancies ever
in Wall street and the bulls and bears will soon
have another football to kick about in the Boards of
Brokers.
The exports from Erie, Penn in each of the past tive
years. giving the quantity and value of each article
shipped were annexed
Erpo I'm,