The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-25
An Important Railroad Consolidation Con
summoted-BunalO 20 be the Eastern Ter
minus OF the Great Western Railway.

(From the Buffalo Courier, January %
lions were pending between the Great Western and
and Lake Huron Railway Companies, by which the form
was to lease the latter for long term Of years. and max
Buffalo the principal eastern terminus Of that r0hd The
matter has been before the Canadian boards OF drec
tors OF both roads at several meetings. and the
was duly signed by both the 10th Of December last.
The negotiations have been kept from the public unit
this agreement had been submitted to tho English
state that the agreement had been favoraby received by
the English drectors and that would be ratified at
early day.
The terms of this agreement are substantially these
The Great Western Company lease the Buffalo and Lake
Huron for the term OF ninety nine years. commencing
the list OF May next The uiro and Lake Huron Rail
way has no floating debt Its bonded debt is $4,000 900
and capital paid in So 00o making total Of SO 000,
OOO The first year the Great Western guarantee the
pay ment OF two per cent increasing this per centage
yearly uu the third year. when they pay five per cent
on the capital and interest the bonded debt at the rate
of thelease
The Buffalo and Lake Huron some weeks since purchas
ed the rbo OF Goderch aud $50 lying contiguous
thereto, and pledged themselves to expend certain
annually in docking and dredging this harbor This agree
ment the Great Western Company also assume, and will
carry 1t out fully.
These understand are the main features of the lease
there other matters Of detail which to be arranged
hereafter. ~
This is not only very imp rtant matt r to Buffalo, but
1t Is equally so to the Great Western Railway Company
r "rSat western by .ne purchase OF the Niagara
and the change Of the gauge of that road to their lost
a direct connection with the New York and Erie at Elm
New York 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 New York Central and Buffalo, New York and Erie
and also with the western terminus Of the Erie Canal
which will enable them TO successfully compete for the
Western trade From Suspension Bridge to Paris It s
seventy two miles, and the grades amount to twelve hun
dred feet descending as you leave the bridge to 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
freight with the motive power and expense the
Lake Huron road than by of Hamilton to the bridge
The result Of this arrangement will be that from Detroit
80 Paris and from Paris to Buffalo will be their main line,
and all the freight viii be sent the main line that
be accommodated by the present Of crossing the
river at Fort Erie The virtual consolidation of these
Canada roads adds to the Importance and necessity of
permanent and substantial bridge across the river from
this city TO Fort Erie and believe renders certain it,
construction if not by the Bridge Company at least BY
the railway lines converging at both points. On the OPEN
ing of spring this will be formidable competitor
for the travel between Boston and New York and the
great West II will be short, cheap and expedi-
largely of public confidence and patronage.