New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-01-22
THompson's Reporter SAYS:


prices.
Messrs. Tilden Il Young, OF Boston. have
taken the contract for building the Railroad from AZ
tea TO Oleou 10 miles for the of si5oo0oo They
are 10 receive $4,000 in stock sjOG000 IN bons and
$4,000 in cash.
The philadelphia Bulletin confirms our
statement that the Philadelphia parties operating IL thu
Long leland Railroad stock have taken the remainder
of the Mortgage Loan TIE Bpll.'in says
I'VE und,i stand that William T. Morris, Esq, Of h's
CITY, has been offered and has accepted the Presidency
II the Long Island Railroad Company. The old board
of Directors have generally resigned and one In
part organized among whom are some OF The most en-
perenccd and iudicous Of our Railroad men Two may
be mentioned C. Colkit Esq, of ths city, anu lease
Ota now President Of The Hanover Bank, New fork.
and formerly ofthis city As condition OF Mr. MsfrSs
cCng 20 accept the PRESIDENCY Of the road.
we understand that the Philadephis stockholders have
taken the remainder OF the mortgage loan OF the Com
psny not heretofore Issued, amountngto about sl5cD.
This will pay oil all the floating debt OF the Company,
bcside furnishing means 10 stock tho roadthoroughiy and
put il in complete uDninl order. We look nov tor q
efficient administration of this road The iscreas:
Of III income last year about $1,000 ANIL the annu|
increase has ranged frNn SIS 600 Ia $4,000. Mr. Nor
RS the President fully satisfied that the present
revenue Is more than sufficient with proper manages
ment 10 pay al the expenses at the road meet the 10
terert ON loans and pay the rent OF the Jnmaea Hal
road
We have received copy Of the report OF
the President snd Directors of the Daaphn and sus
quehanns Coal Company made to tho stockholders IL
December.
The estate Of tho Company consists OF forty three
thousand acres OF land, commencing Mt the Schuyikin
(Pa) County line and extending westword twenty six
miles to Dsuphn, on the susquehauna River AMI Penn.
ylyania Canal The tract includes the whole OF tho
south eastern end OF the fret southern coal field OF
Pennsylvania and coal basin OF than ten
thousand acres, rich Ia veins aud presenting many
facilities for successful mining any other part OF thu
same coal field This iod extends from the Lehigh
river at Mauch Chunk, 10 near the Susquchanns ut
Dauphn, distance OF sXty five miles, OF which twenty
six miles belong TO this Company The cost Of this
estate was Fl 10000 about so third
the price of good farming land In the vicinity
The coal found Ia this basin IA most fayOrably situated
for mining and includes all the yarietie, between the
perfect anthracite AMI the sembitumlnous and Is thus
classedby Professor Taylor;
J. The soft blazing coal OF Sharp Mountain, capable
Of being cokcd
. The bituminous and somewhat harder coal Of Rat.
Ting Run.
D. The four varieties OF the still more compact btumi
nous coal OF Yellow Springs.
T. The intermediate or transition coal, consisting oi
fourteen veins OF Rausb Gap all Ia respects vary
ing from each other, and when fairly introduced into
market viii be used 10 the entire exclusion Tor dornos
tic purpOses, vi al the bituminOus coal
3 The free burning anthracite or the moro bghlT
cnri onzcd coal a Gold Nine, Mount Eagle and Black
springs Cap fourteen VEINS all having psrceptbe dE
ierencss N qualify md structure.
The Directors state that the mines Of the Company
the nearest coal TO tide water and by the Railroad
of the Company and IL connections already built the
coal descends the whole way from It's place In the
mines to tide water and enjoys TO market
than any other portion Of the coal field The connec
ton with the Penney yania Railroad IA only distant
from tide water Al IIayre de Grace by Canal az miles,
and by continuous Railroad % Baltimore, - miles
The Railroad Of the Company intersects tho Harris
burgh and Lancaster snd Philadelphia the Columbia,
the Marietta the lIarrsburgh and York the Baltimore
and susguehsnna, the Washington aud Cumberland
Valley Railroads and the Pennsylvania Tds.water and
Delaware and Chesapeake Canals, on the South, and
will eventually connect with ito Philadelphia and
Reading Railroad and the Union snd schuykiD Canals
on the Eat.
The Company has now built hrst class T Railroad
o. % miles with descending grades from the Eastern
extremity Of their property the Pennsylyania CansI
at Dauphin, and the Pennsylvania Railroad six miles
above Harrisbdrgh This Road Is stocked with three
Locomotives, ~ eoai ears and other accommodations
for the trade,he cot Of the whole being sslOl52
contract hGs also been entered into 10 build 81 miles
of hrst esss 4 Railrosd 20 ms bar, TO connect
INC company E t.oso win the Phiadeiphia and Real
ng Railroad, and the schuyIkIll Canal s,Auburn The
eost Of this road will be. including the night Of way
grading superstreture, bridging and ironing $1,000
q mile or fd27,0co Tor the whole. The contract u
made with responsible parties at that price, with the
stipulation that the roed shall be delivered TO the Com
pany in running order by the Ali Vi July next.
Afurther extension Of this road to Allentown, only
% nles, viii a connection with New York Ia
miles defiant by tine sewJersey Csntral Railroad, and
form shorter and direct route between that city
and Ptsbarsh than by any other road now In existence.
To build and equip the extension Of the Compssys
road 20 Auburn il was necessary TO create mortgage
loan. The then existing debt Of the Company was
s400O00 IN convertible mortgage v cent bonds re.
deeuabe in LTD. OF these, s2s 900 were Issued, tho
remainder being In the treasury Of tho Compsny AL
the bonds issued were In the hands Of ssockh"iders
was thought advisable TO esk the surrender o. tnse'
and to is.ue in lieu p ce convertible bends redeem
able Ia ls77 90 AZ 10 make boz one lien for the entire
sum required by the Company. Thds was sccsded 70
hy ho,ders 10 TIE amount Of e172,ooo ieavsg es1op
outs,.pdips. The bonds proposed 10 be issusa us1~
ri. arrangement, Including those exchanged Cox -