The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-28


ana Mr.. Isaac Seymour, Of the westohestsr Bank Ia
spoken OF for cashier.
In February 1874 the directors Of the Erie Railroad
Company made full report Of "the result Of their
sbors," In which 1t stated that the entire cost Of
the work. mp to that time had been $47a6,s5o In
that report the sstmstsd cost OF completing the road
70 Lake Erie was placed At o &c COG GOO
Machinery, &c, for commencing business ~ Aoooooo
By Sddip: this ::tim.. to pr:vioa: expenditures
viii be that the cost Of the work was estimated ct
In oI Nav isis tn. Stat: lien. Of 600
the road was releseed and tho old stock
consolidated by . surrender of two shares
for one, thus reducing the liabilities OF the
company. ...........'.. sS''ooooo
Leaving. ....................... $ooo0,OO0
% the entire cost to tho stockholders of completing
the road to Lake Erie with equipments. This Is the
estimates OF May ls45.
The next full and detailed report Of the affairs Of
this company put forth in March, 1849 at the time
the loan Of $4,000 COO solicited, for which second
mortgage bonds to be issued. By this report we
fnd that the estimated cost has increased very much
1t is In this report put down at sic o00 And
the directors he above estimate Is deemed large and
Is baed upon recent surveys and estimates made
der the direction of the chief engineer" and, "rom
the fact that the cot of public works has very
ally exceeded their original estimates, the public
correctness 1t has therefore been determined in this
case to assume liberal margin for contingencies"
In February, 1850 we ind another report from the
directors The public then solicited to take ST.
100000 Of income bonds, and are assured that no
more money will be required to complete the work;
but must observe that in this report the entire
cost Of the road is estimated at exceeding
the estimate of the year previous, s117soO
We are now in February, 1861, presented with
another report loan Of 500 600 Is collected to
psy floating debt of about Sa,oooooo, already In
cured No alluson is made, In this present enc, to
the report Of the year previous in which the stock
holders are informed that the money obtained from
the sale Of income bonds will complete the road and
the then estimate of the total cost OF road and equip
ments, SIT IT'S 900; but they nov told that the
estimate has been swsled to $40 5000, being
IS, s22 0O0 more than the estimate of year ago.
and they told that that amount already been
expended upon the work the loan ct present proposed
being for the purpose Of funding the floating debt
What the future estimates of the directors may be-
cannot tell but presume that that good easy SOUL
the public, will place the most implicit reliance
each Of their statements in turn, they may be put
forth, when more meney may be wanted.
The Delaware and Hudson Canal Company have
given notice that they will pass boats during the ap
preaching season of navigation, OF the capacity OF
los tons and that the freight for deli vering coal from
Honesdas to New York will range from 81 IL to 81 Is
per ton. The expence of transporting the rail-
road Carbonate to Honesdale is about thirty
cents per making the whole expense for freight
from Honesdale to New York, 81 60 1t Is reported
that this company Offering to deliver coal in New
York, at 81 O5, for the ensuing season.