Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-03-04


coll. and 70, thew amounted in that year 10 5u
an actual increase of SS667 The tolls received on Inc Erie
and Champain canals from the time they were oPeheu
the Lakes in 1926 amount to 2o ~ ana II Is es
mated that in the years. they VIII amount "
$50 more That in 1857, the income OF the eanaiS
will be 943 The whole OF the New orK caneis COST
fraction under 1874 O000 and they are now estimated 10
be worth about s45 100000 as an investment OF money
But they could not be purchased from the 9'a'e VI "
for one hundred millions
If the reader will run his eye up the Hudson from e
cv Of New York twenty miles, Piemont near the
North East corner Of New jersey he will find the point
from which the New York and Erie Railroad DIVORCES west
wardy and wends its way round the Northern boundaries
of New Jersey and Pennsylvania to Dunkk on the mar
Gin o Lake Erie distance of 465 miles from Permon
and 4s9 from New York CITY, The Hudson River Railroad
is used between the city and Permont ms ROAD nearly
completes the rgh,-ange triangle of which the water line
forms the base and perpendicular From Plermont TO Alba
nv the distance by the River is III miles, ana from Duh
kirk to Buffalo, along the lake, but 40
By the aid of these great lines every part of New York
state can be easily accommodated with any species of inn
suited the interests proposed 10 be advanced
And whether the lateral and tributary improvements shouo
he BY canal railroad plank road turnpike or mud turnpike
den.nds upon the condition of the country and the
interests 10 be accommodated So would be in Virginia
if our great lines were carried across the State.
IL VII. DC seen Dv TIE eAttdCts oeio"I hs '~f
from New York city the Lakes will certainly be opened
through by the middle of May next and that it will cost s
100000 or S3 per mile No less than 369 miles are al
ready completed and in operation The earnings OF this
norton of the road In 1850 amounted to 81 OO nearly
half the amount received the canals and than was
earned on the Baltimore and Ohio Railroad last year by
1855 495 And il is estimated that in 1853 the receipts vi"
amount millions of dollars 1t ia confidently stated
that In very few years unbroken line OF Railroad COM
municaon will exist between New York city ana The mis-
pissippi A water line now exists
fNew York can expcnd S3400000O on canals, and Soo
100000 on railroads. accommodate her own people, and
those in the North and West tributary her Improvements
and markets. surely Virginia might wake up and do some
thing more than debate the beauties Of mud turnpkes Let
the members Of the Legislature come forward IKE men ana
patriots and make provision for completing great
Central and lines We have better base 70
operate upon than New York had and the commerce
which these nes when completed will throw into our mar
kets will not be than that of New York The
will like that of the New York improvements, refund the
cost and build up the finances of the State will he
by the details the report that unless Virginia through
her Central line New York will inevitably monopolize that
commerce in the Valley of the Ohio and Mississippi which
should rghtfuly into the waters Of the Chesapeake
NEW YORK AND ERIE RAILROAD.
Report Of the Directors Of the Nsu York and Erie Ratroad
Company, TO the Stockholders, February IS, 1851.
To the Stockholders Of the New York and Erie Railroad
The Board Of Directors have the satisfaction of
nu 20 the Stockholders the result Of their operations during
At the date Of the las, address, the road completed TO
Corning 277 miles from Piemont leaving lis miles 10 be
reach Lake Erie upon the route then survey
3D. 1863 miles by the since adopted reference to which
will hereafter be made.
To provide the for completing this remaining por
ton of the road the Directors issued s30o00O Income
Bonds as proposed in their last address
In addition the line then completed the section between
HOrneeyile 81 miles, opened Scptem
bar M and this week another link of 81 miles has been ad
ded extending from Hornelsvie TO Cuba making IN all soy
miles exclusive of the Newburg Branch and leaving but
n miles to insh reach Lake Erie. Upon 81 miles OF
this the track laid in detached that forty miles
main unfinished the rails for which are mostly on the ground
ready to DO laid on the opening Of spring
The completion Of the New York and Erie Railroad to
Dunkirk within the time prescribed by law is now no long
ar problem 1t will be opened probably on the frst GER
toiniy BY the l4th May next.
This road like other kindred works of the present day.
has than was originally estimated but not more
than others of importance and value will fully
By reference to their official reports.
In spite of difficulties perhaps enequaed the largest and
private enterprise in America III not In the
WORLDLY nearly completed and within ninety days from this
time the Board promise themselves tho satisfaction OF trip
Of inspection the New York and Erie Railroad from the
Hudson river TO Lake Erie.
The whole the road with ample depot grounds and
buildings and equipments for operating the road together
with the Newburg branch and valuable and extensive
grounds and docks ut Dunkk, Newburg Piermont, and
New York. with extensive machine shops barges, steam
boats &c. will be at the time of reaching the Lake about
320500Oc0 or after deducting the value of the equip
rnen.s (s25O00OO) $685. o6 per mie-a by means
large when compared with other important Railroads in the
country
The average cost of Railroads New England is about
$4,000 per mile.
The financial condition of the Company follows viz:
FUNDED DEBT
Moftage Bonds issued in lieu Of State Loan, S30o0000
Second do, redeemablo 10 1859, 100000
Certificates Of old Indebtedness 100000
Income Bonds 100000
Total amour, of Funded Deb, sll,ooo,o0O
Add to this the present floating debt, 2,9SS,0 io
And the probable cost Of opening the road 10 Lake
Erie exclusive of materials on the ground, 100000
And the entire debt Of the Company will DO S4,2SS045
To fund the floating debt Of the Company provide the
.her