New-York daily tribune., 1859-01-26
AN IMPORTANT RAILROAD CONSOLIDA-
TION CONSUMMA TED.
BUFFALO TO BE THE EASTERN TERMINUS
OF THE GREAT WESTERN RAILWAY.

OF THE GREAT WESTERN RAILWAY.
Fr0- The Buffalo Couyie,, Jan o.
We have been aware tor some weeks past oaat ne
gotiations were pending between the Great Western
and Buffalo and Lake Huron Railway Companies, by
which the former was TO lease the latter for long
term Of YEAR, and make Buffalo the principal eastern
terminus OF that road. The matter has been up before
the Canadian Boards of Directors of both roads at
era meetings, and the agreemen. was duly signed by
both On Dec. 10 last
The negotiations have been kept from the public
until this had been submitted t) the English
Boards for their approval and late advcas from Lon-
don state that the agreement had been fayorab re-
ceived by the English directors and that II would be
ratified at an early day.
The terms Of this agreement are .ubstally these:
The Great Western Company lease the Buffalo and
Lake Huron for the term Of rnety-nine years, com
rnencing on the lst Of May next. The Buffalo an9
Lake Huron Railway has no floating debt, It's bonded
debt is 500 900 and capital paid in So OO OOO, max
ing total of $6,0OO0OO. Tne first year the Great
Western guarantee the payment of two per cent, in
when they pay five per cent the capital aud interest
on the bonded debt at the rate of sx per cent which
rate continues during the existence Of The lease.
The Buffalo and Lake Huron some weeks since pur-
chased the harbOr Of GodeTCb and 30 acres lying con-
tiguous thereto, and pledged themselves to e1pend
Certain annually in docking and dredging ths hsr
Dor. This agreement the Great Western Company
also assume, and will carry 1t out fully.
These we understand, are the main features Of the
lease; there other mstters Of detail which are to
be arranged hereafter
This is not only very important matter to Baii4o
but it is equally go TO the Great Western Railway
Company. 49,
The Great Western by the purchase Of the Niagara
Falls and Cauandaigus Railroad by the New York
Central and the change Of the gauge of that road to
their own lost direct connection with the New-i ok
and Erie at Elmira, and we're compelled to give AL
their business to the NewYor Central, and receive
from that road just what they were disposed to send
to the bridge. by obtaining the exclusive control OF
the Buffalo and Lake Huron Road, they have direct
connection with the NewYoTk Central and Buffalo,
Eew.York and Erie, and also with the western ter
minus of the Erie Canal, which will enable them to
successfully compete for the Western trade. trom
Suspension Bridge 10 Pans IL is seyentytwo mes, md
the grades amount TO twelve hundred feet, descending
ss YOU leave the bridge 10 the basin Of Lake Ontario
and ascending you reach Paris while from Paris to
Buffalo the grades merely nominal. Consequently
they can draw twenty-five per cent more freight with
the same motive power and expense over the lsSe
Huron Road than by way of Hamilton to the bridge.
The result of this arrangement will be, that from
Detroit ~ Psris and rom Paris to Buffalo, will be
their man lne and oil the freightw be sent over the
main line that can be accommodated by tho present
means of crossing the river at Fort Erio.