New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-01

Sss"S h.vs ,sce,xsa the NOT deliberate oons,derar
ION.
To this end, few friends Of the New-York and Enc
pa,road C<snnnny have awaited themselves Of mort
S.vo,ahle sr-s,r.unity such might never again &C
eur Cor sssnrnp suitable and extensive grounds upon
hcatsn mot ty adapted 70 its present and future
w,ox-,.g ,xants The event will be regarded a. the
.ore srtupats when it IL realized that property in the
Immediate vicinity Of NewYork, and especially 20 ~
jersey City, being daily taken up for ooIdng ana
nADsfacturing purposes, and on account OF me en-
ksposd value and extent of the ground required, any
further delay would posiby have forever defeated the
movement. Tie vegetable garden ofto-day becomes
q crowded ward Of city to-moHow-and the transit
ton in the value Of property IL equally remarkable
The prorerty purchased, which ia designed for the
depot. y situated in the about midway between
Ne Jersey City and Hoboken ferries, north of Long
Dock" m what wa formerly known a. Aharsinnus,
now jersey City. 1t embraces all the land under water
east of high-water mark, between Pavonia avenue
and North Fourth street including half OF those Streets
and extends into the Hudson River nearly hah niei
containing about seventy acres, or about eng
bots Of land From this tract 70 tne Presen' I'M VI n1
Paterson and Hudson River Railroad, distance Vi
two pes a continuous night Of way IL secured, e1-
septine two lots each 2j BY 100 feet, IN jersey Cy
and two other small lots in Hudson City, OF compare
lively little value. The whole purchase embraces about
al2 acres on 2 SIS lots of land The present value
largely exceeds the cost the principal purchases hsv-
~ been made before the object in view became gen.
esaIly known The great benefits 20 be derived from
the rise In the value Of this property attendant upon
the completion Of important work, It 10 intended
shan inure solely to the New-York and Erie Railroad
Company. .,
Asye been granted by the Legislature Of NewJersey
N its late session. comforting all the necessary powers
and granite for the purposes required: s
The first is an Act 10 authorize the New fork and
Enc Railroad Company to purchase and hold lands,
and to complete and finish the railroad OF the Pater
/" SOD and Hudson River Railroad Company. The
second is an act incorporating the "Long Dock Com
pauy." with power to construct railroad 70 connect
q ID nth Hprn
Slaw:n 10 purchase and hold lands 10 sell the same;
and 20 make all the improvements which may be ne
ses,ary for railroad depot, with wharves slips and
storebouses. This act also confers ferry privileges
II win be borne in mind that the New-York and Erie
Railroad Company operating the Paterson and Hud-
sen River Railroad under perpetual lease. by the
provisions Of the first of the legislative acts above re-
fued TO, the New-York and Erie Railroad Company
may purchase the lands and improvements OF the Long
Dock Company at.such time as il may be deemedlad-
yable TO do so but it s designed at present TO lease
the same. And by arrangement made with the as
soeiaton formed under the second act, the requisite
accommodations will be furnished without taxing this
Company with the Onerous responsibility Of providing
the necessary capital
The proposed terminus in jersey City will not only
supply the convenience desirable at the principal pas
seneer station Of great railway but will also furnish
The requisite area for Sheds and standing tracks for
The required number Of freight cans so arranged az to
render the transfer Of any quantity Of goods system
attic expeditions and economical.
Ii n not, however, the policy of this Company TO
abandon the Permont terminus, that will undoubt
eddy be required as depot for large portion OF the
freight traffic of the road, and the immense quantities
Of lumber, coal, iron and other heavy and bulky com
odities will be carried to and from that point as here
tofore.
Come quent and depending upon the improvements
n jersey CITY arrangements now about TO be made
with single company for the transportation over the
road of 800 900 uns Of coal annually to be delivered
1t Piepmont. This is in addition to the present busl'
ness Of the road and other like arrangements, contn-
anl road facilities Also UrOSpect.
The character Of the business which will be done at
Pisrnont will be changed but the extent OF the same
will not be diminished nor the importance OF the place
m the slightest degIee impaired.
The expense Of transportation between the proposed
psw terminus and the Suffem Junction will not vary
mate rally from that between the latter point and Pier
mont while the cost Of maintaining the ferry between
New York and Piermont will be in measure dis
pensed with.
With q depot so complete, and upon scale COM
nensurate with the magnitude of the business of the
psad-locAted will be, in the heart of the bust
ness tbeater of the great commercial center OF this
eouptry-it may be truly regarded the GROWING
stone IN the completion of this gigantic work. and VIII
forever secure to the City of NewYork vas: advan-
tAges and to this company the unrivaed control of
large proportion of the business of the mighty West
In conclusion take pleasure in awaiting myself OF |
Chs opportunity 10 express my sense of the great obi
cation Of the stockholders to the Directors of this |
Company who have, with disinteresed devotion to
h interests from time TO time, during the perous vi
sisstudes which have threatened its existence, most
Hoby rsked their own credit and fortunes in sustain
ing the honor and solvency Of the Company. This
expression will apply as well to the Directors who
co-laborers in the COmpanys service In its earlier
struggles, to those of recent date. But sig
naiy marked was the example of Daniel Drew esq,
The present Treasurer, during the crisis which has but
recently passed in most generously lending his name,
a. indorser for the Company, for rery large amount.
Mr. Drews compensation in the satisfaction OF hav-
ing aided the Company in the time Of IT'S greatest need,
and when but for his assistance dreful consequences
might have ensued. OF ike value the clear con-
septon and untirirg exeron of Charles Moran esq,
h devisng, and, with the aid Of his ccDirectors in
negotiating the last loan Of SI,000OOO.
Now the New-York and Erie Railroad Company,
with good management, in conformity with the wise
policy recommended by the Investigating Committee,
N their able Report TO the Directors last year, which,
a. far o. possible has been adopted is beyond any
such crisis in future as those through which 1t has
passed.
1t will soos become dividend-payng, as it is moo
. dividend-eamng, institution.
The subjoined elaborate report of ID. G. MeCauum,
CO., the General Superintendent. embodes very fall
and intelligent expose of the internal org anizaton and
working Of the road, and viii be read not only by the
stockholders of this Company, but by railroad men gen.
orally with particular interest. In addition TO the de-
tailed account Of the general division of the road of
Me responsibility and duties OF the experimenting OH
OF the operations and benefit of the telegraph, of
the cost OF transportation of the expenditures in con-
ructon for the past and estimates for the present
year defends the broad gauge adopted by this Com
Dspy, showing its superiority ever narrow gauge,
especially in its adaptation to heavy freightng busi
pess both as IL regards economy and capacity, and
demonstrates ths position by theory and experiment.
The lateness in the season when the full returns of
he year were made and the time required in carefully
arranging such voluminous statistical Information to-
eether with the demand Of other imperative duties
Upon the General superintendent attention, have
believe It's lucid and important character will fully
compensate for any mpatence the DELAY NAV have