The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1858-10-07
Atlantic ana Great Wcstern n. n.


has obtained loan edHal ID ita demand, and
will, therefore, 60 on to completion. This
is rather a surprise on the public but, why
it should be we know not. The road has
solid merits, and. as such, we have noticed
it from time to time. II there are any who
think that railroad construction Is at an end;
or, that because some companies fail, 9TH
ers are sound and profitable, they are very
much mistaken. This country has about
$1,000 miles Of railroad but it will have
4 100000 miles before the railroad business is
1 over done. In the meantime, we should
consider each undertaking on its own merits,
and not fall into the delusion OF believing
III at the whole railroad system is tumbling
down, because here and there company
has failed. The time is not far distant
when the average profit on this whole 81,
600 miles will reach seven or eight per cent.
which is very good profit in any business
At present, the average profit on all finished
lines OF road in the United States, is abou,
81 per cent. This Is not very bad. But, II
certainly might be better, and it will be a
great deal better, with little more expert
! ence and economy.
The "Atlantic and Great Western" is an
Ohio road, and since it is to be completed,
| it will be interesting to know something
about it, with it's probable advantage. In
the Record for July, 1855, we gave digest
Of the last Annual Report of this Road we
have seen. Since then, the great revulsion
in railroad prospects has prevented the Com.
puny from obtaining the capital necessary
for it's completion and little has been done.
The "ATLANTIc AND GREAT WESTERN
ROAD" extends from Oleun, N. Y, through
Franklin, Penn, to Warren, Ohio, and
thence by Akron, Crestline, and Urbana, to
Dayton. The entire distance will be near
ly US follows:
in New York 10 miles.
In Pennsylvania 100
In Ohio 3O3
The last part includes the Dayton and
Hamilton Road, which will probably be-
come part by laying third rail. The en-
tire distance to Cincinnati from New York
by this route, will be as follows:
N. Y. and Erie r. R. 10 oIean 3os miles,
In Ohio ~ 3os /"
Aggregate eO9
1t is quite obvious, that if this line be
finished, il will be unequivocally the Best
Line 10 NeU York, and this fact is und,ubt.
edly the real reason, why this company has
been enabled to obtain the loan. Taking
into view that it is forty miles shorter than
by Clevelan that the Ohio part can be
easier run, and that it is broad guaee line
through the whole length, it is quite obvious
that it will become the preferred eastern
line, for at least very large number of the
passengers who now 60 by the way Of Cleve.
land. These consequences, it seems to
us, would follow the completion OF such
road.
/. The breaking up ofthe Erie monopoly,
and this is the only route which can accom-
plish that.
2. Greatly enhancing the prospects and
advantages Of the New York and Erie Rail.
road. Indeed, to that road, it is vital; for
it is the only profitable thing which can
give it a most decisive advantage over the
Central Road.
8. Comforting great advantage on the
Cincinnati, Hamilton and Dayton Rood
Should this road be made one link in the
Broad Guage Route between New York and
st. Louis, it will add, at least fifty per cent.
to its business. =.
4. To enhance also the value and position
of the Ohio and Mississippi.
Indeed we think, that if ever o Broad
Guage line, on SO direct a route as this be-
tween New York, Cincinnati and st. Louis,
that it will be seen, at once, to have great
advantages over any other route. This is
so plain, that it is singular it has not been
taken up and completed before this.
Having seen the nature and position of
this undertaking, let US see what, if any, are
the prospects Of its completion. First we
have a statement (after many reasons)
which is apparently reliable that this Com
pany has obtained loan in money and iron
sufficient 70 complete it, or at least 10 insure
its success. Sd.
The New York Tribune says:
Gan amount of E2OO,OO0 was taken in
Paris by prominent Spanish banking house
and about $500,000 was subscribed in Lon
don by various parties. The Iron purchase
was for $1,000 tons, which makes up the
sum total to upwards of $3,OOO,0OO as re.
ported. The parties who have been engag.
ed in the negotiation arrived by the Fulton,
and bring portion of the money subscribed
with them, in the shape of Sterling Ex.
change" -... .g.
The iron is probably sufficient to lay the
entire line, and the money will nearly, or
quite complete the grading. The cost Of the
Road (the Ohio part.) and the manner in
which the grading has been carried on is
made known, according to the estimate of
the Company, by their report of 1855. The
Board say that from the Pennsylvania Line
to Dayton is 343 miles, and the estimated
cost, as follows:
Graduation and Iron &s Ar. -co |
etatiohs, Shops, Aachlhery, etc. l,U52, 600 |
Total $G,4JG 600
At that time, the Company stated their
means as follows
Actual Subscriptions Sl,s9G, ,4s4,7e |
Conditional Sub scriptions 25OOUO,OO
Rights Of Way SC, 200 100
Aggregate 90, ,10o, ,4O4, ~ |
If, as above stated, the Company have &C.
quired means, in the recent negotiations, to
the extent Of $4,000, 900, they have abso-
lutely working capital equivalent to over
$5,00O,O00. 1t is probable Qndeed certain)
that part of the recent loan is applicable
to the Pennsylvania part. To counterbsl.
ance this, the Road had, in 1855, a large
amount of grading, and masonry already
done. The small part in New York will
doubtless be made on branch of the Erie
Road.
On the whole, 1t is probable the compa.
ny will only need hereafter, an additional
capital equivalent to the cost of their ma
chinery. We may, therefore, safely opine
that the road will 90 on. We understand