The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-18

The decrease in prices i. by no means made I'D BY
increased quantity imported but doubt whether
The consumption is greater, Notwithstanding the re-
duced value, as corresponding contraction has
been realized in the reources Of consumers.
renewed application, it is stated will be made to
he Legislature Of New Jersey for charter to con.
truot . railroad from Morristown to Elizabethtown
The Elisabcthtown and Somerville Railroad IL in
active operation ten miles beyond the last named
place, to Whitehouse, the line to Easton Penusyl
Fania. The length is thirty six miles, and It will no
doubt be completed In the course Of another year.
The track is now laid with heavy rail, and is in
good order This road opens to this city the trade Of
large section of country, and when completed to
aston, will secure extensive trade from the north
prn and eastern part Of Pennsylvs mia. New Jersey
has made quite . movement within the past year or
In railroads; and in q few years. at the rate
that State will be as much covered by them Massa
chusets or any Of the New England States. within
The past two years, more miles Of railroad have
been constructed in the United States than
sver before in the same period In addition to
This, several OF the old companies have relaid
their tracks with heavy rail- 1t is estimated that at
least hundred thousand tons Of railroad iron
have been used in this country within the past two
years. about seventy i've thousand tons Of which have
been imported from Great Britain Th. at an averag
forty five dollars per ton would make aggre
gate Of thr, millions three hundred and seventy five
thousand dollars, indepen dendent Of the charges.
These expen dtures moderate compared with
made in England for iron for roads; but all the
Expenditures roads in that country made
among then selves they don't send milio of pou
sterling out ofthe country for the purchase of mate
rails, have done and continue to do. Railroads
the United States, notwithstanding the difficulty
Experienced in their construction So pay much bet
Ter In proportion to their cost than in England. The
average earnings per mile In Englapd in 1Si EOS
while In 1913 1t was f55, showing decrease Of f10
N their productiveness in year. This is but the
beginnipg in the reduction OF arnngs The in.
crease Of railroads In England Ia rapid and the
competition great that they must ultimately
be very poor Investments. In this country Il
IL Just the reverse we have everything favorable
In the perspective, with such immense extent of
country, such a rapidly increasing population, IL
sannot be otherwise than that railroads which are
intimately connected with the growth of the ooun-
try and the Development OF its must uti
mately become the most profitable Investments In the
eountry. The amount Of capital which will, in few
years be invested In these works In the United States
will exceed the aggregate Of all public debts and
all our banking capital, and everything In relation to
them, will therefore be sought after with much avi
dity.
The annexed statement exhibits the tons Of wheat
and heur shipped at Buffalo md Oswego from 1885 to
s47. and at Black Rock from 1889 to 1s47, and the
aggregate quantity which arrived at tide water in each
of the past thirteen years
op FIot,p WurAr TINT Sra or N,w