The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-06

elsewhere /; and one OF the most expensive opera
tions, that near Bergen Hill, was commenced when
there was only $25 900 in the treasury. The com.
men cement Of 80 important an undertaking as the
New Jersey Railroad, with such limited means and
resources, Mr.. jackson compares to an attempt to
storm the rock Of Gibraltar with pocket pistol.
AT this period, however he states that the enter
prising house Of Nevins, Townshend Il Co., of New
York. and other capitalists Of that State and of New
England, became proprietors Of stock to large
amount; and the commissioners were thus enabled to
proceed with the work between New York and New
Brunswick, in accordance with the provisions of the
charter. On the first of July, 1886, first dividend
Of threee per cent was declared at which time nine
tenths of the entire stock was held by the capital
lists referred to, and the remaining one-tenth by
fortysix New Jerseymen; much larger number Of
whom now own nearly twelve times the amount
which was held at the period referred to.
The report states that in accordance with the pro-
authorsing further apporionmentof stock to stock
holders, $260,O00 of the surplus fund, now amount
ing to $376, 1854, had been thus apportioned, being
ten per cent per share for each ten shares The re-
continuing to increase 80 also are the expenses
owing to determination which has been made, to
complete firm and substantial line of road, which
necessarily will lead to considerable outlay.
Inc managers, agents and employees are then de-
In conducting the affairs of the road; and the com
pany and the public are congratulated on the re-
markable exemption from serious accidents to which
the road might be considered liable owing to the
number OF trains that are continually passing and
repassng; the directors very properly deeming it
cause Of thankfuness, that on the twenty-frst ami
versary of the company, and its coming Of age, it
may be recorded that Of thirteen millions Of passen
gers who have been transported on this road, no
person in the cars has suffered in life or limb.
Every proper precaution, the report observes, will
continue TO pc taken to prevent accidents, by well
digested system of signals, minute and constant
examination of the wheels and axes of the cars and
the machinery Of the engines; and by an important
and indispensable auxiliary towards greater safety
which has hitherto prevaed-that of Individual re-
sponsibility and to avoid danger on approaching
bridges, no less than five persons are required to
watch for the signal when the draws are open, and
reduction OF speed is rigidy eDjoined and enforced
Accelerated speed, Mr.. Jackson remarks is however,
required by public sentiment, which increases the
hazard Of travelling on railroads, the regulations Of
which are still in their infancy, and which occa-
sionaly cannot prevent the occurrence of horrible
accidents. He, therefore. recommends that a more
consderate public sentiment be cultivated and one
that would be contented with less rapid speed
The adoption of double track on the entire route
is also recommended, and which is at present COM
pleted from New York to Elizabethtown; and an
Improvement is suggested by widening and straight
ening the Bergen Gut and the extending and
multiplying the depot and ferry accommodations at
Jersey City on On extensive scale; to effect which
the directors, it is stated, should be warranted by
the stockholders to enter into negotiations for the
purchase OF property and for other purposes sup
plement Of the Legislature having authorized the in
crease OF the capital stock to the extent of $500 OOO
and having conferred the power Of making improve
ments, whereby the obligations to the public may be
realized The report concludes with stating that the
amount received last year by the State was $23 s79
which makes in the aggregate s207 076 that has
been paid into the public treasury by the company,
for which it has received in return no exclusive
right.
The report having been referred to committee,
they subsequently reported in favor of the several re-
concentrations which it contained among others,
that for testimonial to Gen. Darcy, the former Pre-.
sident, and j. T. Jackson. Esq, the present Vice
President, for the untiring zeal and energy dis
played by them in the performance Of their ar.
duous and important duties, and resolution to that
effect was subsequently passed; for which those
gentlemen expressed their acknowledgements.
THE BANQUET
AT halfpast two O'clock the members of the COM
pany, and number of invited guests consisting for
the most part of the representatives of sister CON-
pauies assembled in the dining saloon, where an
elegant and substantial repast was provided by the
prorrietors Of the hetel-the company numbering
about one hundred and eighty persons, who seemed
to have appeared as if by magic. The President of
tie company, the Hon. j. Philips Phoenix, M. c.,
presided this interesting occasion, having on his
right, Chief Justice Hornblower, and was assisted
by j. p. jackson, Esq; Hon. Daniel B. Ryall, Col.
j. W. Scott, Henry A. Remson, and w. Rankin,
Esq; with II. j. Southmayd, Esq, the Treasurer,
who acted as Vice Presidents; and when our re-
porter entered the room, having been detained to
complete his abstract Of the report, he found the
party discussing hasty plate of soup" and prepa
ring for an attack on the more substantial edibles
with all the energy of men who justly appreciated
"internal improvements" particularly those which
appertain to the strengthening of the elmer man."
To apfar into anv tive cr H.
proceedings of this happy reunion, would be i'm.
possible. All seemed bent upon enjoyment F; and
appeared to be much in the frame of mind Of the man
who, when judiciously reading book, "gves the
rens of his Imagination into its authors hands, is
pleased he knows not why, and cares not where
FORE" The President gave successfully, "Thc Elk.
ecutye, Judiciary and Legislature Of New jersey
and |" The Mayor and Common Council Of Newark"
prefacing each toast with brief and pertinent re-
marks The sister companies were also toasted, and
the compliment was aptly replied TO by their repre-
sentatives, who were present. Chief Justice Horn
blower replied to the first Of these compliments to
length but which lost in the din Of conversation
and certain popping of champagne bottles, which
afforded unmistakeable evidence that the Maine
liquor law is not in force in New Jersey.
Other toasts followed appropriate to the occasion,
as they spontaneously in the minds Of those who
gave them, which called forth speeches abounding
with happy hits that would have been lost elsewhere
than where they were uttered, but which seemed to
be duly appreCateu Dy IOSo present. In reply 10 one
Of these, Chief Justice Hornbower saiG he was not
on antediluvian but still he was old enough to re-
member when the sole means of travelling between
New York and Newark was monopolized by two
colored gentlemen, who were rivals in business and,
orc Of the company added, that passenger thought
he had performed COED days work II he went and
returned on the same day The toast in relation to
the Common Council was responded to by tho
Mayor who said the city Of Newark and the sailroaA
company were mutually contributors to each others
prosperity and he trusted good understanding be-
tween them would always continue.
During the afternoon the President stated, that,
as many Of the members were not present when the
report read, he would call upon the Vice Presi
dent to read It again, for their special edificaton.
Mr. Jackson, In reply stated that the report would
shortly be printed, and OIey would thus be put in
possession Of the desired information meantime, he
would at present only call attention to the main faoi
which It contained-tnat of thirteen million Of pas
sengers who had trs yelled the road Of the corpany
they had all been carried over II without injury x
life or limb.