New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-12-29
Iale Erie was e,timated, in lhe last re

J.ke Erie. was estimated, in the last re-
nort Al about ~ 20 l ~
Ii n ascertained TO be---------------- - 1,-,V-o
Excess over estimate s3Oe0,oo0
An explanation Of This discrepancy is due, and
the Board having nothing 10 conceal, desire 10 MAKE
H. The engineers In submitting their report to the
Directors for constructing the Road from dornelis-
Vile 70 Dunkrk, Western Division, estimated the
cost for building l2s miles at s2,l23,29e, and fof
night Of way $4,000 II proved on final settlement
OF accounts to be $3,526,657 Sc.
Difference VI ,'Ios0"1 &c
The convertible bonds issued last spring
for $500, 0CO, sold at 90 per cent,
making difference of.------------.- 3JO'OD W
Locomotives and cars over estimate 9o0 VV w w
Buildings IN Newly oTk.------..------ SOvc wv
Wharves and buildings IN Dunklrk----- 1O9.Oc0 w
Fences built during 1851, 300 miles, 20o,OVo W.
Subscription TO Buffalo and State Line ooo m
TO- $3.50, 36s IS
The chief part Of the discrepancy IS accounted
for however by the Companys being obliged, IN or
der 70 get the Road through IN uIne, " N.Y. Lib,
creased expense, in driving the work Gay ana sa.,
amid frost and snow IN oelng colhpeiiee W
work which the contractors were unable 10 perform
and in the heavy expense attending the uansporIa'
ton of materials for the supersuuc.ure. ne pro-
priety or policy OF doing IN one year Wnat " maS
tate9 other roads two or three 10 accomplish, Will
moi be doubted when it is considered tnat the loss u
interest alone would be IA p cent to gay nothhg OF
having years benefit OF earnings otne ifedsuy.
The total cost Of the Erie Railroad including sl1ty
miles of double track, sidings and turn'outs,
wharves locomotives, cars, stations ana properly .,
every description excepting z3O,OOO BuGaio anu
State Line stock is per mile or, exclusive OF
engines cars, steamers stations, etc, Sij,333 per
mile. Although this is more than the DIRECTORS hopeo
and believed II would be- II is still about the average
cost Of all the Railways IN the state OF hassacnu-
sets which, by last years report, was stated at
$49,513 i3 per mlle and within the cost oil nearly
all the following, VIZ
The cos, of,be Western Railroad was. see, 100
The cost of the Old Colony was.......---- 50,96l
The cost OF the Ftchhurg was..-..-.------. 53'4ys
The cos. Of the Eastern was--------------- 53,ss2
The cost of the Cheshire was ... 5l,0Ss
The cost Of the Boston and Worcester was 7I,l75
The cost of the Boston and Providence was o.,
The cost Of the Boston and Name was-----.- 1869
The cost of the Boston and Lowell waS----- I2,O6O
and less than the average cost OF many oi the I'M
portant roads Of this State.
The Compass have leased from the Corporation
Of the City Of New-YOrk the square at the foot OF
Duane-st, on which they have erected large block
Of buidings in a portion Of which Their Offices are
now located. The whole building viii In few years
be required for their business. These buildings cost
including fixtures, about $4,000.
But Il is not the intention Ofthe Directors to solicit
fofbearaDce of censuTe, Is any Is deserved, tney
acted up to their best Judgment and ability, and under
the circumstances would not aci differently, were
to be done over.
The present floating debt ofthe Company, is 1880
eco dollars it has not been increased since OCTOBER
when il reached Its maximum.
TO paw tins floating debt and 10 aid IN building
one hundred miles OF double track from Great Bend
westward, the Company propose 10 issue bonds,
payable in ten years. che remaining unlssued stock,
4500,0O0, being IS yet unavailable convertible into
stock, and bearing per cent interest.
The portion Of double track which the Company
propose to build is Of easy grade and construction,
and be built at the rate OF about ten thousand
dollars per mile and is imperatively required by
the increasing business the road.
The Directors are able TO state to the Stockhold-
that for the construction OF the one hundred miles
of double track, they can make available, and on
terms advantageOustO the Company, sufficient por-
ton of the Capital Stock to insure its immediate
completion.
The security for the payment OF all the Companys
obligations, and all the money they propose to bor-
row is ample and ndisputable.