New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-26
es.pic. Bark on Thalsy, ne nsh inst, ct no0n' 70


eentur upon bushess Of Importance.
In relation to this read the annexed circular u"
been issued:
Tts Buffalo and Nev.York City fret mortgage
borobolders win Lsse been attracted by proPo,iho9
from the Buffalo. Coming and New. YORK fslrc ,
Con pany 20 suca bopdbolders 80 are srcuisu ., 80
mortgage between Buffalo and Aulca, invit.Dg t:es
to join in pew coparner.hP, na''ng -, and the
probable building oftwelve miles Of new rosd so tna
Ire Of road may be rsanized between Buffalo ana
Coming.
this rev scheme, and is using every eIertion to carry
As bondholder, shall oppose it, and on these
grouId de-:
We have, covered By our mortgages. q finished and
complete line between Buffalo and HorneisVp!e' d.
ready built and in operation
The main busness Of the proposed new hue Is 70 De
secured in correction with the Ne"-lofK anu h''e
Railroad at Corning.
York and Erie Railroad Company, on :he existing me,
between Buffalo and HornesviIe ION the New'fork
ar Erie Rssrosd, can be had though the new line
were created.
Hornelsyille will be determined by net revenue.
The through receipts will form a chief element Oh
such revenue. ,,s 80,
Our present property, finished and completed, Sc
eures All that car be had out Of these and why form
M ronaTnersbip. and that tao. in anticipation OF
getting Il into our actual possession
The course pursued by Mr.. A. ID. Patchln for three
wears rst illustrates his protection Of our interest.
Receiver is on the eve of being appo,o'eu, he he
cree Of sale has been long e1pec'eu anu 0"NA' "
withheld much longer.
Let the bondhoders see TO it that their trustees
bring all the property covered BY the mt '''
to a sale. o.
upop their course Of action, which, doubtless, would
lead to purchase Of the property at an agreed price,
and orce in possession, make the best use OF It;
There is value in the property constituting tne nne
have not been realized by those who furnished tue
mears of thus come citing Buffalo and New-York, via
the New-York ard Erie Railroad.
Parties holding Buffalo and Csrnlng oondS' as WEI.
.s Buffalo and New. York City Railroad Company
bonds may incline TO leap INTO this coparnership upon
the principle Of general average.
But pure Buffalo and NewYor City Railroad
Comt any first mortgage bondholder may well pause
until decree is had and property IS IN
II occurs to Bondholder further to add that the
geographical position Of the Corning line, toward the
SeW-York and Erie Railroad, shows that the former
runs nearly parallel 10 the latter from Corning to
popt east from Horpelsville on the Corning line.
Obviously, the New York and Erie Railroad inter-
est is beet promoted by the use OF the inc
10 Buffalo because tolls are thus collected between
Coming and Hofnelsville, distance OF Al miles.
The twelve miles of the Corning line proposed TO De
built running north between Batavia and Attlca,
axe the Corning line indirect one as 10 business
between the New York and Erie line and Buffalo.
Looking az all these considerations is it the interest
of the Buffalo and New-York City Railroad Company
bordhoders to join in copartneship with the Corning
Railroad Company
We annex comparative settlement OF shs eIpor"
Exclusive of spece) from Eew.York TO foreign ports
for the week, and since January /:
1S55 1856. 1857.
Total for tie week...e 27460 St,4sl ST elSSt2lo
Previously Ieported.. s., 1855 a4s oO7oiOls 4oV''s