The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-05-29
Our Albany Correspondence.

ALBANY May ~, 1904
Difficulties in Relation to the SGsquehanna and
Northern Railroads = Probable Suspension of
Work on the Former, and Prospect of Better
Times for the Latter The Boston Road-ks i'm
msnse Patronage, &c.
Judge Willard has decided that the subscribers to
the stock Of the Albany and Susquehanna Railroad
are legally bound to furnish instalments, as called
for by the directors accordingly notice appears
in print, calling upon stockholders whose second
and third calls on stock remain unpaid, to walk
up to the treasurers Office and settle forthwith.
Means will be Immediately taken to compel the OBJ
stinate and refractory to comply with the original
terms of their contract with the company. This de-
cison of the Judge has induced the enemies Of the
road to enter upon other to prevent its con-
struction II the directors cannot he prevailed upon to
arrest the work. then the credit Of the stock is to be
destroyed The original contractors agreed to take
certain securities Of the company, as the work pro-
crossed, as part payment. These were expected TO
be transferred into available funds, to meet the
wants of the sub-contractors. Now, if those secu-
rifles by any hue and cry, can be deprecated ma
terialy, then they will remain the hands of the
original contractors; consequently, the sub-con-
tractors will be compelled to abandon their work.
1t is very easy to create dstrust on account Of any
railroad yet in embryo, especially if the croakers
happen to be men Of energy and determl-
nation. As things. now stand, there Is much
reason to fear that the people iiving on
the line Of the road between Binghamton and this
CITY, and those in the southern section OF this city,
will not very soon witness the completion OF the
Susquehanna railroad, notwithstanding decision
has been made that subscribers to the stock are la
bic for payment The struggle Is quite animated
between the parties but the contest will be decided
in the course Of q few weeks.
The Northern road is not yet to be sold, as anti
cipated few days since. The second bond holders
have been induced to postpone further action Tor
few days. A resolution has been adopted by the
Common Council of this city loaning the road the
thousand dollars This sum, it is said, will be sufi
Client to pay interest due on the second mortgage,
and have a sufficient surplus to discharge other
pressing liabilities 1t IL high time that matters
were arranged as to place the running equipments
Of the road in condition to meet the summer ira
vel, which Is already beginning TO fow northward-
ly, to the Springs, to Vermont and Canada. ?.
The freight business on the Albany and Boston
road is now 80 immense, that with all the facilities
and power Of the company, they are unable 70
transport with promptness more than one half
the amount daily offered them: Complaints are
made by Western merchants of the delay In the
receipt Of their goods from Boston, and Albany
merchants are equally FESTIVE because they can
| not transmit -four and other produce to their
is needed. The Board Of Trade Of this city, in.
| stituted committee to ascertain whether greater
| facilities cannot be afforded. A conference was had
with the President Of the road, Mr. Chaplin, and the
Superintendent, Mr.. Gray, from whence informa
tion was received that the company were using
every exertion for transporting freight that about
| dozen new locomotives and several hundred cars
were in course of construction to be placed the
track with all convenience Inde ed, the President
stated that every available mechanic in New Eng
land was now employed In constructing these cars
and engines. The committee were also informed
that double track is in the of construction
and hopes are entertained that in less than twelve
months it will be completed through from Boston to
Albany The great increasing trade between the
pany to enlarge all its powers and increase its ener
gies for the accommodation of the immense patron
age which it is destined ultimately to receive. A
tains are ever tunnelled, but business will 81
largely increase as to afford ample employment TO
all railroad and water facilities between this cit.
| md