Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1853-01-15
REPORT OF THESUB-CoMMITT ON THE
sUNBUEY AND ERIE RAILROAD

the Sunbury and Erie Railroad, have made
voluminous report upon the subject ending |
with recommendation that the city make
subscription 10 the amount desred-S2 900, |
900. The information the committee obtain |
ed is put in the form of question and answer,
from which it appears that the road, by sur
vey Vt Mr.. Miller, will be 2s6A miles long,
which may, by subsequent surveys by short.
ened abont twenty miles The cos, Of road,
laid with a single track and 6i miles of 81.
dings, will be 100000 900. The business of
the road will soon require double track the
the whole distance; this may be constructed
out Of the profits and the credit of the road.
The cost of furnishing and equipping the
road will not exceed $2,000,00o. With
cash capital of Sc 900 900, actually subscr
bed, there will be no difficulty in procuring
the whole amount necessary 10 finish and fur
nish the road and 10 obtain this sc, 900
nothing more is needed than such a subscrp
tion from The city of Philadelphia as would
ensure 10 other subscribers guarantee that
the road will be completed. This would re-
qure but $4,000, 900 from the city, and be-
fore the S6,000,oO0 are expended the value
of the stock, it is expected, will be so appre.
cated that it will be Bought as a desirable
investment 1t is mentioned that the whole
capital of the New York and Erie Railroad is
but $4,000, 900. while its construction cost
500, 900 900, the difference being raised on
the credit of the road and yet, after paying
per cent on its stock at the end of the first
six months, besides leaving large surplus,
as sinking fund, 10 pay its debts or make
double track.
For the advantages that will accrue 10
Philadelphia, as depot for The trade, and
business of the road reference is made TO
Mr. fuckers letter. published in the Led.
ger last week. Philadelphia, as shown by
that letter, is nearer the lakes, BY actual
and equated distance, by the Erie and Sun
bury route, than New York, is by the New
York and Etie Rail Road, by at least 29s
miles. Taking Williamsport as the common
point OF divergence TO the two cities Phila-
delphia will have the advantage over New
York BY the proposed road in actual dis
tance of at least forty miles, while the equa-
ted distance owing TO The far greater gradi-
en,s of the road to New York, and the tran
shipment of Jersey City, so increase the diff.
fereuce of distance as to insure TO Philadel
phia, at all times. decided advantage owe
New York. Again, the northwestern par
Of New York is alive to the importance o
reaching our anthracite coal regions area
; dv the use of that article there has increased
TO an almos, incredible extent within tht
last two years, the whole being carried by
the circuous route Of Albany and Buffalo
To supply Canada and the northwestern
= par, of New York, would require cars Il
come over the Sunbury and Erie road, an'
Z thence BY some Of the numerous roads lead
ing from that road to the heart OF the Goa
e mines But whether these cars take th
D. coal TO Erie or TO Buffalo, in either case the.
, will naturally return freighted with produce
y and as in reaching the mines they vii
: come TO points below The point Of diver
/ gence to New York, or any other Atlantic
city than Philadelphia, it is easy 10 see iha
y the enormous produce, thus carried IN eX
y change for coal must find lis destination II
; our own city. The value OF The lake lrad
: in 1s4s was over SlS6, 900 900, employin!
! shipping some seventeen times as great II
- tonnage as that on the Ohio. The lake com
merce of Buffalo alone in 1850, apart from
its commerce by railroads, was SCI 27o, SIS
y In 1851 it was SS9,s9l, ,955, and the Who'll
merchandise carried on the Erie Canal aion
>. from the lake 10 tdewaier. in 1851, was l:
977.l5o tons The export of anthracite coa
/, TO the lakes last year. was 100000 tons
a and Buffalo is now projecting routes with
view of reaching the anthracite region
,r through the proposed Sunbury road Tn
road will also pass through the richest b
re uminons formations in the country, an
Or these branches OF trade will rapidly increas
,s in the West, where large and active pops
la,ion exist, with great enterprise aud POI
Of sessjnu easy means Of access 10 these nil
re erals.
s, The question hat are the capacities rel;
~ tiyely Of a rail road and canal Of The sam
h lennln, loT lne cav i'S " H'"'y ''N'="' -"
what the relative cost of transportation,
considered al some considerable length, It
experience Of the Schuylkill Navigation al
A The Reading Rail Road, and the Erie Can
,r. and the New York and Erie Road, beiE
St. given. The result of the investigation
ell that rail roads will always have the adva
-. tage over canals, and can carry cheaper
al. The proposed road will be shorter in d
re- ,ance, with more advantageous grade
ad cheaper in construction than the New Yo
I'm and Erie Road, which has made the lar
lp- profit, on the first six months of lis eXisten
Bile of 7 per cent, on lis large debt, 4 per ce
ms. dividend, with a surplus for a sinking fur
ne The succeeding year its profits are put
us. lii per cent, aud the estimaed profits
hat The present year are II per cent. This
iy- considered sufficient answer TO the qu
vas ton as 10 the expected profits of the pro
lpi. sed road. In the event Of the desired S
We scripion being made by the city Of Phi
BILE delphia, one.half condilonally, and Q
low half upon subscription by others, 10 the
,ty tent OF 100000, The whole extent Of
road can be completed from sunbuty to