New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-12-30

IT. owned BY three c'fyo 49,. ,,go-eesie- how
re-a lS or mile The Boston ana ,ie. IA length.
$VO - for,ns -rt OF The line. - 49, ~. next
g.. soohle track The baumotss - road T. l--
has 49, -. nearly resembles tns 80 ooq 49,
road when uoIe -, =. ar Informed eoVVeo y.
M Fen toe New Jersey ia. Sc 20 oer mile
CIV 10 New Br1nswick, COST css 49, ,,ockbolds-s the
cg y f,srec.ors 20 ~ present 70 me etoeN. ., e.
Ios ~ rsrosd undor one msnsgeIneAt % 20.
,19ed s.s.es; and think from rs pCs1',o.' 80
.;val or competing loe u "lA 81 az cay IN ,.rove
Ii'a, - nrost,ctve We have no doubt w ~
,ne 10 rxfended 10 Elulirs or Cornins' 70 "nen 70
90, nlsce the Company have CONTRACT y ~
he completed before the close ol sno'heI ...io,
n, has been stated heretofore 10 en- "a 80,
-, me Ho.rd O. Directors, hat II thns couu ~
,he southern Tier OF counties and tne puoo o. 49,.
long delay to which they nave 0eeh s,S ~ t5s In
n,ovsd rhsrscter Of the grade and line oi the toao
fhs Board were il the outset convinced Of tne lpD
lance Of making good road ana 70 90 that = -
Necessary 10 improve the grade and l4ne "hsie " a
srsrentble OF Improvement. and they fouDo, upon
careful examination q that portion % the ii"e =
Delaware River known a. TIE " 40 miles, ~niDH ~,
partially graded ~ early period oi zoe I'm 80
nd INC 6,.t work done on ;he road tAe grace
was in several places below the ever u N- 'fse5
mark Of that river, u consequently 70 ~ $50 me
several feet wnich rendered it necessary 70 .a -
road bed 10 several pisces, when cesDse'
al 10 FIVE or Fix miles , - s....,.,o 90 IA
Prom uoruelsvile 10 Lsresooro, distance Of 10
mile. where great portion OF the hoe was pleo seN
I $50 sirce sltboueh now 50 much cecayed ss 70
be OF no value. there was succcss'o" o' -
grades running up high IS ~ ieet 70 ihs in"o INC
zrade IA
.noIs ds.nee Going east exceeding i've feet 10 the
mile On the line Of this place Tor miles IN e@fh,
the grade WIS fixed az from % ect relo" t9e ieFei
nj hyh yster mark OF the SusQlenauuhh RIVER lh or
der 70 raise The grade out Of the reach OF mgn Wser
and 70 improve the Inc as above strtea " became NJ
cesssry u change II for several miles Inc proPhey
OF these changes having been called in qaesuon ~ sos
parties IL may be proper 10 state that toe Directors ou
not decide pom them without due and proper cons
alton, and they point 70 these improvements VIII
pride snd pleasure Their value IN series o. yeas
w,4fff Of Toll ara
lance OF easy grades are and better Understood
will be more and more appreciated. Inc result OF
these improvements can be seen when map o. tne
road lie spread out before you. and starting rom hOi
nellsve and running over the whole me 70 foft ger
Wis distance Of $50 miles there s no grade exceeoug
feet 70 the mile, except from LanesooIO 20 'ne ~
nit distance Of miles where we meet with grace
OF 60 feet 70 the mile where with the assistance on
relieving engine In Of necessity, mat whoie o.
tsnce Of 80 miles - rendered prscucs.y evs,, us
saving on which 10 the stocknoters ana tne pupoi ~
-four years running the road Will be equal IN value u
the state lien relinquished 70 the Company en-,
Thsis believed the nrsttme IN the history Of hai
roads in this country where 60 long line Of new ioso
has been Al any ore time open 10 th- puOhc but
will cay much At this time o. ne enorts tnSt nA
the Bosrd Of Directors 70 carry on such wore ana
for the most part through such country smost ou'
Of sight and out Of reach and agsinst such COMBINE
ton of difficulties have had 70 be met Win VIII ~
they are not fully understood cannot ana P,SosD,s
never Will be fully appreciated Inc nsshtune an
nporiAnce Of the wOrk-he various and diVersheo 10
teresu which have had 10 be met wth-haye demand
uniting efforts of the Board OF Directors Nitnoui any
private interests Of their own 70 'uDseiFs ana o'y
such as are common the great mass OF theH eAo"
citizens They have devoted the best energies OF innD
and body 10 carving forward this important work 10
which the State and City Of Newfork have 90 oeeP ss
Interest IL has reached point m ls oh"ai"
progress 10 the Lakes winch VIII INSURE 10 o"''J "
petion. M, ,., .. -
10 the vanous srduous and responsible duties which
II hiss been my duty 10 perform, canDot 10 lusuee
pass over one whose relations 10 the Board ana myself
have been of the most intimate and confidential cna
Tacter, with whom have been IN almost ohly neI
course-with whom have advised aud couDseled In
fha difficult aod delicate duties OF my position, IRON the
fine of my connection with this Company 10 the pre-
sent and whose honest and faithful devotion 10 the
beet interests Of the Company deserving OF 81 prae
i mean the Chief ogineer. Major Brown. cannot
psss over another officer of the Company with whom
have held the confidential relations, although mol
in ,ueh frequent intercourse but whose sound juig
rnent and experience In whatever relates to Railroads
has been Of great service 20 the Company IN carrying
CD a work OF such magnitude and VINO hss, es ne oe
the confidence and best regards OF tho COMPANY
- mean HorsuO Allen the Consulting Engineer
might continue the let OF names In the Engineer De
psrrment, and name many others hling suoord mate
citations who ere deserving the confidence OF tne ON
psny aud who have very satisfactorily performed Tue
difficult and responsbls duties which have been re
CURED OF them My frequent visits over The Road nave
often brought me ia contact with many Of them and u
would give me great pleasure ever IN my power %
be of service to them In any new field OF duty whct
they msy be called 10 occupy. Msny OF them are wei
qualified to All the fret place any Railroad. could
epumerste respectable list Of names in the vsfiou
grades IN this Department bu, will not occupy The
time IN doing 80.
Gentlemen | have now doubtless occupied too much
of your time and probably nearly exhausted yoo
patience but the subject is too large one 10 De o'
summary disposed OF, ana VIII uetpass but htl'
more your patience At the opening OF the ROAD e.
Port Jeryis stated 10 the Company there assembled
that the earnings the road that place would amount
10 from e3O0OO0 $3.50 O0 for the year then 10 come
1t will amount 70 about s3l2 600 When II Ia consider
ed that the road has received that amount from agr
cultural district covered by about 10000 Inhabitants
large portion of which by their proximity TO the hud
son River and other means of communication, seek
other avenues to market, what, It may be asked
may be reasonably expected as its earnings when II
drains n country containing more than one million o.
inhabitants depending almost necessarily by their posi-
ton, upon II for communication 10 mMketf And
what II may be asked, will DC It's probable earnings
when reaches Owego, % miles arther west TO whcf
place 1t will be extended by the month OF June next
AT which place II will connect by an intersectin.
railroad with the Csyugs Lake and the country border
Ing on a. Whist will be It's earnings when It reaches II
mira. 80 miles west Of Owego 10 which place II WI
be extended In October next and then connect with
railroad with the lake, and through the Lake to Genev'
and the county bordering on III What WIZ De ~
earnings when II shall be extended 20 Corning, some
miles west OF Elmirs 10 which place II will be extend
ed before the close OF another year, aud there connect
with the Blosburgh Railroad, running into feunsy
vsnia and what will be It's earnings when VIII ooun
III miles OF railroad and distant from New York owe
800 miles Qneludng terry What will be rs earning
when receives the business OF the country bordenu
on IL both in State and sister state OF Penn
sylvsnisf using the natural and most convenient Quite
for an ares covered BY more than and = half mil
lion of inhsbsntsf II we take the present income %
the road, draining coantry Of 10000 inhabitants WIS
will IL be when II win receive BY its position, the trad
OF country containing nearly forty times that number
There are some who doubt or affect 10 doubt Of III
ability of the Company to pay the interest the soc
and ts other liabilities for the coming year and thereo
attempt TO throw doubt and ds,rGst upon the secut
ties of the Company. with view, doubtless OF veal
enpg or destroying confidence In their value. let u
examine the subject for one moment
twill be borne In mind that the money 10 pay Oh
interest on the mortgage bonds is deposited IN n
hands of the Controller 10 provide FOR that object q
the 18th May 1881 consequently this does not 'orr
any tax upon the Company tll that period
The interest GA the stock and OLD tor the con
Ing year will amount 20, say SVVo0
90 al other lisbiltes Of the Company including
the income certificates, cannot amount 10 more
thsn.-.-. ~ p
Total. eteN''.
The lowest statement the Directors STRIVE ~ OF 81
earning Of the road 20 Dnghsmion Is SlOO0Voo aad
Emirs or Corning, 81 5OOoO0. Now take the meaios
the cum sccount Of ths read rcschiog thos
places a, different periods Of the year and decue
thererom the usual sverige cost for cCsi of runnin
expense, and We will have surplus OF some so 90
after providing Tor the interest on al other liabilities