New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-02-19

for The sole use OF the Company continuous telegraph
line from this City 10 Horneisvle aud viii extend l.
through the Deke, hlnuIdueOub WIN 1he OFeul1B VI
e snSps OF I69 miles Of Railroad so ex oensve AMI
difficult its character hin one year s great achev-
ent even the present day aud II h regarded with exnl
alton and pride by Board Although this is the crowd
ing effort their lsbOrs has been speedily accom-
plisbed Than other portions less prominent .,.
As whole. the work has been Formidable ana a. uhes
almost Overwhelming, sho WINE VI ,o,,,n snd are
look The obstacles which s enemies nsv7 tlrO"n a
still placing In the way OF its success they turn WIZ s+
faction tn remembrance OF the numerous inelas VIC
given them aid and encouragement IN um1s OF go'
duuhtano embsTastment
In spite Of difficulties, perhaps uqeqaaled ne arge, ~
most important private enterprise Ia Anrfica, W ~. go
world Is nearly completed, and within ninety GAYS o
this line the Board promise lhemselye. In- & sro,3
a Tip Of inspection over NE New - anu i'
frosn the Hudson River 10 Lake Ere -, ,sa, .,ds
The whole coat Of the Road with ample oepo d. 80
I'D hssin0s and equipments for Operating me h'al ~
osber v,h he NswbuTPh Branch, AID YAuaoio anu oAe
five grounds and docks at Dunkirk Ns%nusn, h
and New York with extensive machine Stops oSis'
,srahosts &c vii be- a. the time of reaching me baSe
about (S2oCo0o0l or, after oeducung eo cost nv no
ssps large when compared with other important nan
% average cost Of Railroads In New England is about
bs sPsneisl condition of the Company is as follows
viz - rr rvpr
uorosce Ro,ds ssued In Lieu of State Loan S5o
Second do redeemabe In l859............''' 4go0S00
Certificates Of old S00 o0O
Income Bonds. ''.'''''''''''''''''
Total amount OF Funded Debt. .''''SLOOOUO
Add to this the present floating debt zs07'oio
And the p1oo1ble Of opening tne roao 70
Lake Erie exclusive Of materials now on 'he ooooo
ground. s''s''''''''''''''' ''''
And the entire debt of the Company will
To fund the floating debt OF the Company to provide The
necessary MACHINERY and for working the road, che
Temsipng uDissued capital stock OF the Company St10
000 NOT being available for that purpose the Directors VIII
sse Bonds transferable the books Of the Company Tor
IS bearing interest at the rate OF per cent per
spnum payable semi annually, with Interest warrants at
and uble into the stock OF tie Company al me o
lion OF The holder Authority for which is given In the ION
division Of the 18th section OF Al authorize the for
melton Of Railroad Companies and to regulate The same
Confdept of The perfect security Of these Bonds, THE
properly Of the Company being worth a. least my per csns
more than the amount OF the eh h o bsi
capitalists the full assurance that they will command
The liabilities Of the Company viii then be as follows:
Funded debt as before given
Bonds redeems6ie in 1871, and converuoie lnto
the stock Of The Company, at the opllOn OF ron ooo
holder, (present issue, ).....'...''''''' o''VVVVV
Sl45oGooo
Amount OF capital stock issued. $4,000
To which add for contingencies .......s.''' <UVOO
Making $50 son, 900
The amount expended and TO be expended in opening the
road to Lake Erie Atleast $5OOO Of which 10 chargeaoe
Tie road f46 miles and the Newburgh Branch, 10 miles,
in All G5 miles in length constructed 10 the most su0stan-
tal manner The bridge abutmens are OF solid cement
masonry and the arched bridges some OF them gantc 10
last wear parts of the road the eastern division have
been built bridges supported on wood have been renov-
ed and replaced by others upon durable stone aOumen
As whole the road inferior IN the permanency
ofits construction in m capacity for doing business ana 10
as II sorce of satisfaction to The Directors that they
have generally in advance accurately named the tlne vi
bsen 5ished and il Is not the less satisfactory them that
their estimates Of the earnings OF the ROAD nave also oeen
The estimates for the present ard following years
the same confident expectation that they wll be
fully realized, and that the Company, from u annual net
earnings hereafter will make sefiannual cVdenos 10 le
Stockholders and have surplus for otner purposes
The earnings OF The year ls4S SSSa
comparison Of the earnings Of the Road for the last
years, per mile, for each mile In use, taken In CON
necon with the prospective extension Road Lake
Erie the consequent increase Of business naturally to
be expected from important an opening VIII DC me oasis
During each Of the years Of 849 and 1885, newly finished
sections Of the Road added to it, and the comparison
is instituted from the Average distance IN use during each
year. , , o.
p miles, added In the month OF June, ana mat part
between Owego and Elmira So miles, late IN October
also the Chemung Branch II miles laIe IN no S11 %
Total earnings for The year. Sso977 Earnings per mile
In January, 1850, that section between Emira and
Corning distance Of 70 miles. opened and added to
! the line and also the Newburgh Branch leading from
Chester to Newburgh ~ miles in length and In Sepem
Der Al miles extending from Corning to Hornels
10 use curing $50 was $40 miles Eanings for year
per mile. Excess Of earnings over 1872
| 81 sos or IS per cent
The Road Is now In operation Cuba, 500 miles, which
with the Newbureh Branch the Chemung Branch ms %
In all 4o5 mi Of road II Based upon this fore
going comparison OF the earnings of l849 aud 80 without
any upon last year. the earnings for the ht four
months Of 1851 will be.................$613,SS3
Deoucl 10 per cent, the earnings for
January and February being gener-
ally much below the average earn
ne for the other months OF the year. 67S55 $6G,OOO
For tie iemaI ing months, the Road
being open to the Lake and working .-
464 mi .es al last years rates l,54oboI
Add 80 per cent upon last months as
The iucI ease contingent upon The Lake 80
connection. ofifo'S
Add estimated contributions from Lg
gets Gap Railroad, Jefferson and
CansndBg qua Railroad. DunkiTk and
SAFE Line Railroad and the North