The New York herald., 1862-09-10

! The opening Of the new railroad to Ogdensburg,
by the Rome, Watertown and Ogdensburg Rail-
road Company. opens new line Of considerable
Importance, being the shortest communication be-
tween New York and Ottawa, the future capital
Of the Canadss. The opening was lately cele-
brated by an excursion party, with the Nusual fes
tivities and speeches. The following brief sketch
of the enterprise was read to the party by Mr..
John p. Yelverton, of this city,
Tho Rome and Watertown Railroad Company was char
tered in 1882 70 from Rome to watertown and the
River st. Lawrence at the foot of Lake Ontario After
various revisions and amendments f the charter the
road was built and opened TO Waertown in September
.Jot, ,oc 70 csPe vincent & IN p ING sp,ng :, 1927 Ine
miles and cost Sc 5000 900 which Represented
capital stock Of 81 900 and bonded debt Of $500 00
Its rst dividend was nsade January 1882 its last July
1892 dividing in years seventy six per cent,
average or over seven and half per cent annum.
The company has also contributed to the sinking fund TO
pay ts bonds nearly 500 O00 and than that
OF the interest the bonds Of the Watertown and
Potsdam Railroad Tho Potsdam and Watcrtown road
was organized n January 1852 and the road from Water
town to Potsda junction opened in February, 1851
Its whole length is seventy six miles, its cost 81 000
mortgage; 500 600 The Rome and wasersown compa.
ny endorsed its first mortgage bonds in 1851 and on the
failure Of that company TO pay its interest December
authorized by the Legislature to purchase the Water
town and Potsdam road and consolidate with the Rome
and watertown change its name and build branch TO
the g. Lawrence rives In July that year the pur
chase under the second mortgage On tho 4th
Of July 1861 the two roads consolidated under
present te the construction OF the branch from De
Kab TO Ogdensburg was ordered and about two weeks
since was completed at cost OF $500 600 mortgage
made 10 the whoe line, September L, 1861,
for 81 400 00O of which $500 900 used to build the
extension and the balance reserved exchange for
pay on $500 600 the watsrtown and Potsdam Arst.
mortgage bonds, guaranteed by this company. In the
construction az the extension the company has been
lboraly aided By the people Of Osdensburg the Central
Railroad Company and the American Express Company
Tho whole line of the read In now 100 miles; Il cost
So 400 OcO which s represented by capital stock Of
81 500 00O $500 900 mortgage bonds the watert0wn
aad Rome Railroad with nearly 100000 in sinking fund.-
mortgage bonds the Warront0n and Potsdam
Railroad, and $500 900 on the two roads and both
branches. The bonds secured by mortgage tho Wa
tertown and Rome Railroad, due $780, and on tho
whole line due 1891 both having ample sinking funds.
This property absolutely cost ~ 00O In addition TO
its road has large depot wharves and granarss the
lake, and in connection with another corporation,
formed fer the purpose eight steam canal propeers.
which, when building u Ogdensburg, supposed by
tho Canadians TO be intended for gunboats These pro
pellers traverse the lis miles Of canal and ITO mel Of
In three daysIsss than half the time Of the old
canal boaas rendering the company independent Of the
old transportation lines. The line from New York TO 0g
densburg seventy-three miles shorter than by the
way Of Rouses Point, and trains were 30 to take
passengers 70 or from New York without delay By day
light.