The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-10-17

Total. ACKNOWLEDGEMENT 1898 500 05
rs about $500 600 b, eak Of gauge
the ssane Of erg neers, end the Nav freshet.
Tys PROSPECTIVE REVENUE
In" President estimates the gross earnings for the next
ytar ct So, OK 0CO Wa not vel enough acquainted
with the data upon which be forms his judgment to
aSs 70 give an OPTION IT. pras. result sa
ncfeae both in The and net earnings Of he road
We fully agree with it.
Notwithstanding the systematic management Of the
road il Is the opinion OF your officers that decided
auctions may vet he effected in the transport ax
p-nfes By tho il tariffs which has gone int,
effect and the promised decrease In eypensea think
tbat you may count decided upon the results
OF the year just closed without the anticipated In
But do thick that nny past results arc to be
tai rho Of the future business OF New York
and E,ie haira, From the opening 10 1861 until Nay
last, 1t was in the condition Of man with It
had virtually but track with sidnss and
turncuts (gNat they wers) With incomplete roadoed.
cuttrgs cm,arkmcnts and bridges; with sttion houses
unequal tho usiness and with rolling stock cou-
sfantly addct 10. snd yet behind its wauts
also urod in he construction Of its second rask the
exclusion Of bette, paying business
These thinRs are now changed With the exception of
-, mes The opposed second track ir completed aod
use tho track Is ;n better order than ever before
bc cuttings are wi6ened and brought to the natural
Hope, Il cnbabknenss in good ord II tho station
houses, wstr stations, wood sbsds, Sc 40 es.ceod
sdtqun to wan-s sho~n by perience the hr gcs
sr- Represented in good repair AID tho rolling STOCK
though not argc the n eto-s 10 hrve desired
VIII meet demands fer some tin o TO co1nc WHOM the
WORKS in plcgess completed, which be deno for
$23o, 900
The Nov Yo-b and Erie Railroad now earns annually
ahost rs largo sum originally pro,osei 70 bo
expended in i;a construction II n competitor for til.
emo passenger and freight busirsss Of thu lake
country, tho Northwest aud tho Canaiian aeoinsua.
with New Yrz and also Cor that OF the valley of the
Obio and the Mississippi, with which 1t Ia TO have
oven better connections than nov. It psses through
line OF country bavrg other eastern outlet by rail
wbo'e productions are bulky and which has hitherto
hesn loss dcnscs peored tuan other se;tioos OF
the state only because mcfeG icu OF access and its
tibCraYie2 etrntc YiuC-s uln0rcl md
egI cultural lands in the Union.
When see what it has ALREADY dono while new In.
cumhefod and without perfect connections, have
difficulty in agreeing TINT it is destpoa to do deci edy
with cience, without ipcubsnce ts the traffic,
with connections established.
AZ the same time we cannot shut our eyes to les
fDaDoial condition. We Of the difficulties With
which your board hae had to coutsrd and willing
testimony TO your arduoue and untin9 cxerions
mount them But thips you will sgr-c with that
tho recent critical situation Of the yaay has demon.
strncd the iuruderce of anticipating earnings large
~ and calls rapsress and acic us cnsrer,ent On
the part Of the directors tte pubic bs assured
that Tho construction account is closed aud homo
can be devised retiring the osung making at
the time pros i've provisions for citing the
fundcdse notbipg to prevent this rost from becou
ing ono Of the most valuable railway properties ia the
world.
10 insure this result rccommsnd:--
! That the construction account he closed.
an increase In your tariff prize of freight and pas
scnesrs, both gay aud through We heliev- thst TIN
mediate jrdcious saarIon 10 tho present e not
only duo 10 the stockholders bat Will essen tally con-
dnce 10 the permanent welfare of the company.
That DO oi,idends be paid til the floating debt Il
Hsp<sed OF. ts~ fN1
That striking fura DO established. 20 TO paid
monthly into the hands Of trustees Independent Of tho
company.
That She President and Vice President OF tho Com
pAny Ia required 10 give their whole time and urdvided
attention 10 the du les Of their pec.ivc oicss We
frk this il indspc to the proper nagcant Of
largo corporation the New York salrosd
Con pany. al o. which Is respectfully submitted
JsvES Brown, CAIkB q. HaIsrED.
THOMAS rIILSTON, DAVID HoADiE0,
r. y WILLIAMSON, JOHN GOuRIIE
JOIN =. WILLIAMS, ]. G. BANCROFT DAVIS