Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1852-11-06


cedented economy, and the affairs of the
Company are in position 10 invite the most
rigid and searching investigation.
You possess in the charter and its supple
ments privileges and advantages CO extensive
with character of the MISREPRESENTATION a
parallel in the Stale.
The invaluble legislation of the last session
the muni6cent subscription of the city Of
Erie-,he exceedingly liberal one of that
county, and of every other county between
the Lake and the Susqnehanna-and of sew
eral of the boroughs on the route.-have all
been obtained without the expenditure of n
single dollar of your funds, or my own pri
vale means, in any improper manner.
The value of the legislation will hereafter
be appreciated; 10 the Company it cannot be
estimated in dollars and ccn,s--to the city
Of Philadelphia, if embraced before it is 10
late, the value is greater than all the subscrip
,ion she has been or probably ever will be
asked TO make your road.
The corporate subscriptions referred 10
amount in an unconditional shape 10 one mil
lion one hundred and forty five thousand dol
lars, and further sum OF quarter Of a mil
lion, conditioned upon city subscription Of
one million. A liberal cash subscription
from individuals in the northwestern coun-
ties, swells up the amount of aid offered by
the country, TO sum largely exceeding their
pledges, and more than fulils all the exPec-
talions ever gave 10 the public.
1t is the only project which ever came 10
| Philadelphia, with all offer from the country
| 10 share the cost while it offers gleater ben
efts than any other, it has by some been
more coldly received. Why? 1t is not for
me say. .
| You possess route with advantages in
grade, distance, curvature, cost OF construc-
,ion, and safety of transit, which will ena-
bic you, when it is completed, 10 defy the
competition of any similar improvement now
in existence, or which can connect the Lakes
and The seaboard. Yon develope neatly one
third of the territory of The Commonwealth
of Pennsylvania, now wilhou, all outlet.
Your terminus is at the bes, harbor on the
Lake to whose trade New York is chiefly, il
not exclusively, indebted for her superiority
over Philadelphia in population, wealth and
the extent of her shipping-for the superior
natural position of Philadelphia kept her il
advance of New York in all these respect:
till the latter opened an artificial commune
cation with lake Elie-to reach which she
has now proftaLly constructed three avenue:
| q
, expended sixteen millions in its enlargement
and is now completing that enlargement a
further cost of nine millions, payable from
year TO year out Of the surplus profits resulting
, from lis business. She also built one chain o
S railroads al a cost of fourteen and hal
millions, and another al cost OF twenty
four millions. You offer TO Philadelphia, a
a triflng cost, far better arcnue 10 this trade
: Of the lakes than either of those. That lakt
g trade now exceeds in value The foreign com
: merce of the United States, is many times a
It great as the trade of the Ohio river-an,
within ten or twenty years its annual inereds
/, will exceed the value Of the whole trade ar
e irving a, and departing from Pitsburg by tn
VI Ohio river.
: What intelligent man doubts that the mer
e chants and property holders OF Philadelphia
n are richer this day by the whole amount q
IS corporate aud individual subscriptions mad
c to the Pennsylvania Railroad, than the
'r would have been had that improvement nc
e been made.
o And yet, without any disparagement I
l. that great work, it must be admitted that
has been chiefly a means Of saving a trad
d and its natural increase which we aread
y possessed.
Al If your roal is fairly built and econom
y cally managed, il must prove an exceedingl
profitable one. Under such auspices, ! b,
10 leve The excess of It's earnings, over six p,
rs cent interest, if invested, will realize fun
N equal 10 the whole first cost or investmel
u within twenty-five years, while there ca
H. scarcely be a doubt that within a lew yea
n, the advance in The value of real estate alor
I'd the line of the road and in Phadelphi
or which will resul, from lis construction, W
IL be greater than the whole cost.
" Twelve months since, yon were without
- dollar in the treasury, or single share
'' new available subscriptions. Now you ha
:" TO commence irith an amount Of subscriplio
(al of which, under judicions managemel
-, may be made available larger in prOpori
10 the estimated cost of the work than eth
The Reading or New York and Erie Rail ro
companies relatively, have subscribed
- stock this day, as compared with the CO
- of those improvements-bo oil when
'" completed aud in cuccessiul.operalion a
- curaie surveys and a location OF The Eas'e
"e Divisions, embracing one-quarier o'
,o' whole distance, are completed ready iof !
-" work Of construction.
~ The managers will no doubt consnmma
- negotiations now in progress Tor The lmnl
diate prosecution of The grading and bTidg'
os Of that fonrth-on terms highly advaniaSeo'
The and which the company is in position
ofI ius,ify undertaking with a certainty OF
all execution. gH
ion The surveys and location Of another p
tion of The road, Of equal length will be CO
Il. Ia,, shn los