New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-03-12

erssie exrs-t The tvo Ea-ks alluded - were ansns
ibeiastbEtrh o. special charters zr s.c 81 Connect
cut and Toe PGolic have security for the rei--ne
ton Of the notes Tbs Is rasher verse thsa Indians
al uhncts currency. which sny rs.s has the sena
olsree Of security behind il The Bsnk Of North
America smother Conrec,Scur coAce-n. was also in
difficulties, bat being really sound although ssrnpors
rly embarrassed hss beer assisted bv its friends ani
VIII 20 through
A purchase Of Sl50,oO0 of the State stocks
WAS made today private terms There Ia also
fair business doing in Bonds. although NOT 50 large ss
before the sailing Of the Holders of desirable
descriptions are generally arm At full prices.
An article which appeared in The Rsiirosi
JoErsal on the 10Th February attacking with much Vi
olence the Erie Railroad Company. caused . namoer
Of the lesding stockholders to address letter to the
Company asking for information in regard to it, s4sirs
which has drawn from The President lengthy reply
containing the statistics Of the Road and the reason
why the cost has been 80 largely in advance Of the est
mates As the reply viii probably be given 70 the
public in full, annex only an abstract OF the
principal points 10 regard TO theeost Of the road being
largely II advance Of the estimate the President says
hst when the present managers came in in lS48 they
had no knowledge Of the Read but were obliged to
rake up their estimstes from the report OF the Chief
Engineer employed by their predecessors, and which
Wa inside one and hslfyears before This es,inse did
not nclude the Of the Ncwburgh branch which the
Legislature sfterwsrd compelled them to make The
cost also largely increased by the entire change OF
tine west OF Biughamsou and the abandonment OF
shout two millions Of expenditures made BY previous
Boards which Is thought would be available
Even with all these changes which were made in many
cases East well West Of Binshsntcn the Direct
ors might s,in have built cheap road but they Goa
sidered il TO be the true policy OF the Company AMI
the true interes, OF the city. to make first csss Road
in every respect, Thus immense amounts were spent
in reducing grades by deep cuttings and high EN-
bankIns nJs which were not At first contemplated.
The curves and the bridges were also made more eS.
pensiyely that nothing should be left TO be done
when the road wa declared completed. TO make il
equal 60 a public work. TO any in the country. In
the r. l. a comparison between the Erie and the
Baltimore sud Ohio Road was drawn snisvorabe
to the former. The figures are gwen as follows
Baltimore and Ohio ...........'3so sI7.Cooooo
Ere. ACKNOWLEDGEMENTS. i6f 2,'0lN'
This comparison Is unfair in many particulars. The
Baltimore and Ohio il compared with the Erie, un
finished work II requires = large amount OF eSpend-
itures which the Ere has made, for turnouts depot
grounds water stations machine shops double track,
&C sc which will swell the cost largely. Again, the
Baltimore snd Ohio has 81 miles of grades Of 100 feet
TO the mile while the Enc has OF over 80 feet TO
the mile and than half the length of the road
does not exceed feet to the mile These easy grades
have not been obtained without large but in the end
economical expenditures Again the Erie has curve
OF less than 1000 feet radius, excepting one which IL
500 feet Again. the comparison OF length is ineor'
rect Instead OF 40 miles the Erie has in fact col
miles of road including turnouts sud double track.
When the Baltimore and Ohio Road is perfect work
~ the Erie without double track Il will doubtless have
cost s20gOO0O which will be $4,000 per mile while
the Erie has cost only about $4,000 per mile, with
much more expensive line. The comparative traffic OF
the two works prove the expenditures for equpage and
al the accessories Of railroad must very properly have
been immensely larger the Eric than the Baltimore
snd Ohio The gross earnings Of 1859 were;
Per Nile.
Baltimore and Ohio. ........... sl,i21JoI jtoo
EIie. ACKNOWLEDGEMENTS. 3,56Iel5 1oV
The earnings Of the year on the Erie would have
been larger but for the building of the second track,
which employs the machinery and the other track so
a. 70 embarrsss the regular traffic of the road
In Yard to the charge of disagreement between
tho report to Legislature aud the actual cost OF
the Road the President states. that the Legislative
form calls for certain items which given, but they
DO not include every expenditure and consequently
do not represent the entire cost The general account
Of the Company Il as follows;