New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-02-22
Mohawk Valley Railroad.

1t will be seen by notice in this days paper,
that books are TO be opened at the Chemical
Bank on Tuesday next, to receive subscriptions
to the amount of one million of dollars to the capt.
tai stock of this Company.
This Road is to be built on the south side of the
Mohawk River and it is confidently expected
that it may be done for two millions of dollars
This is not an experimept-the operations of the
Utica and Schenectady Road render this esti
mate almost certain That Road cost with Hat
rail, only Sls00000, in running order; and the
first year paid dividends to the amount OF $40 80
per share, being almost IL per cent. In four
years the net earnings were S964,OOO. At this
rate the original stockholders would have the first
outlay on the entire capital, returned to them In
eight years.
A 20 pound rail, at this time, would cost some
thing more than the fiat rail in lS34-'5, but the
wood work of the superstructure would cost less.
The experience acquired in making roads since
that was constructed, and the low price OF iron,
renders it reasonably certain that substantial
road, with a heavy rail, can be made on the
other side Of the Mohawk for about the original
cost OF the Utica and Schenectady road-or, say.
two millions of dollars The question may be
asked, then, why the capital of the Utica and
Schen ectady is so large This question can only
be answered satisfactorily by those who have had
the management OF the concerns OF that Company.
The last report gives the capital paid in at three
and half millions of dollars, and the cost OF the
road at something less than four millions aud
quarter During the first four years, from 1886 to
| 1910, when the net earnings OF the road were
equal to half the amount Of its original cost the
number of passengers averaged 10000 for each
year. For the last four years, the average is
| 3O7, 900 for each year. The increase in the num-
Der Of passengers from ls47 to 1850 is nearly 40
per cent.
1t is supposed that there is much larger
amount of Scrip in the hands OF the Stockholders
r Al. L fhou haa anfu al lxy haa
expended in the construction Of the Road. The
Charter secured to the State the right for Is years
! Of taking the Road on paying 10 per cent. in add
tion 10 the capital. To ward off interference on
this point and also in regard to fare, the Company
| has been somewhat chary in making known It's
| great profits, except TO these who could justly
| appreciate the value of this information.
The present travel through the Valley OF the
Mohawk will pay liberal dividends on the actual
cost Of the two Roads-and this travel Is lncreas
ing at the rate Of 10 per cent per annum. With
more than two to one of the population making up
the way passengers on the south SIDE, 10 tnere
any reason to doubt that q substantial Road, con
structed for about half the sum on which the pre-
sent Company makes its dividends will afford
/ liberal remuneration to those who embark In the
| enterprise
The travelling population Of New England to
the West, pass through the valley OF the NO
hawk. The thousands Of emigrants landing at
the port of New York do the same, and this Will
be greatly facilitated by the completion OF the
Hudson River Road The countless millions In
the West, reaching far down the Ohio and Mis-
sissippi, and extending to the limits OF our terri
tory at the North, including PIPER canada VIII
10 great extent pass through our state, ana the
! greatest portion through the valley OF the Mo
| hawk.
VIII there not then be active employment for
all the modes of transit which can be provided on
this great thoroughfare And has not the IN
E j. i
kept pace with the facilities heretofore furnished
| for its accommodation!