The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1859-02-02
Importan. Railroad cens0lidatlon.

We have been aware for some weeks
past (says the Buffalo Courler) that 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
years, and make Buffalo the principal
Eastern terminus of that road. The
matter has been up before the Canadian
Boards of Directors Of both roads 1T sew
eral meetings, and the agreement was
duly signed by both on the 10th OF De-
cember last.
The negotiations have been kept from
the public until this agreement has been
submitted to the English Boards for their
approval and late advices from London
state that the agreement had been favor
ably received by the English Directors,
and that it would be ratified at an early
day.
The terms of this agreement are sub
stantially these: The Great Western
Company lease the Buffalo and Lake HUI
ron for the term of ninety-nine years,
commencing on the first of May next
The Buffalo and Lake Huron Railway
has no floating debt Its bonded debt is
$2,5oO,0oO and capital paid in $780,
900; making total of $6,000,000.-
The first year the Great Western guar
antee the payment of 2 ~ cent; increas-
ing this per centage yearly until the
third year, when they pay cent on
tha nov,.foJ onI ;ntoraet IN tba bop1ad
debt at the rate of " cent which rate
continues during the existence of the
lease.
The Buffalo and Lake Huron, some
weeks since, purchased the harbor of God
erich and 250acres lying contiguous there
to, pledging themselves to expond GER
tain sum annually in docking and dredg-
ing this harbor. This agreement the
Great Western Company also assume and
will carry it out fully.
The Great Western, by the purchase Of
the Niagara Falls and Canandaigua Rail
road by the New York Central, and the
change of the gauge of that road to their
own, lost direct connection with the New
York and Erie at Elmira, and were COM
PEELED to give all their business TO the
New York Central and received from that
road just what they were disposed to send
to the Bridge. BY obtaining the exclu-
siye control Of the Buffalo and Lake HUI
ronproad, 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 successfully compete for the
western trade. From Suspension Bridge
to Paris it is seventy-two miles, and the
grades are merely nominal. Consequent
ly they can draw 25 " cent more freight
with the same motive power and expense
over the Lake Huron road than by way
Of Hamilton to the Bridge. The result
of this arrangement will be that from
Detroit to Paris and from Paris to Bufia-
10 will be their main line, and all the
freight will be sent over the main line that
can be accommodated by the present
means of crossing the river at Fort Erie.
The virtual consolidation of these two
Canada roads, adds TO the Importance
and necessity of permanent and sub
stantial bridge across the river from Buff
falo to Fort Erie, and we believe renders
certain its construction, if not by the
Bridge Company, at least by the Rail
way lines conyerging at both points. On
the opening of spring this route will be a
formidable competitor for the travel be-
tween Boston and New York and the
Great West. 1t will be as short, as cheap
and as expeditions as any other, and we
have no doubt will share largely of pub
lie confidence and patronage.
C. J. Bridges, Esq, Managing Direct
or Of the Great Western Railway, fully
confirms the great railway consultations.
The new movement will give q great
impetus to traffic on the Detroit d Mil.
waukee Railway, making it a F" grand
trunk" in reality, if not in name.