The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1864-07-20

tic & Great Western Railway:
ATLANTIC AND GREAT WESTERN
RAILwAY.-On a previous occasion We
pointed out the rapid progress made In
the construction of this important through
| line of railway, the success which it had
already attained, and the vast prospects
of its future. The directors have not
slackened in their exertions, and it is now
confidently stated that by the mouth of
May, express trains will be run through
! from New York via the Erie, Atlantic
and Great Western, Cincinnati, Hamilton
and Dayton, Ohio and Mississippi Rail
ways, to St. Louis-the whole distance,
l,200 miles-without break of guage.-
That portion Of the route which forms
the Atlantic and Great Western section
has been built under the uperintendauce
Of Mr. Keunard, an English engineer,
we'll known for many important under
Iaklngs which he has successfully carried
out in this country Tie cost of the line
has not exceeded G6,409 per mile. The
Income of that portion already opened
amounts to $50 per week, aud Within one
year of the opening of the through route
lIt is confidently anticipated that the re-
ceipts will be doubled, or sufficient to pay
dividend of 25 per cent upon all tie
snare capital III the undertaking. The
railway. after leaving the Erie line, tras-
erses the coal fields of Pennsylvania, the
district of tie oil wells, and the rich corn
producing lands Of 0hTo. 1t enjoys al
most monopoly of The petroleum traffic
aud for this. as the ordinary traffic. roll
lug stock Of 10000 cars aud 500 locomo-
/ ii es, are, /; is stated, quite insufficient
The plan which has been adopted in the
construction Of the railway is one which
proved in re uarkable manner the conf
dence OF its promoters. The public are
I not Invited to subscribe 10 the railway in
the shape Of shares. ard until the line is
completed aud actually at work, no bonds
or other securities are issued The first
mortgage bonds on the Pennsylvania sec.
ton were bearing per cent interest, pay
able in sterling at As Cd in London, were
issued 70 the public at 70 dollars for the
100 dollar bonds, and they are now, not
withstandlng the temporary pressure up
on all American gecurltles, quoted az more
than 10 per cent. over the price of issue
1t is nov proposed to issue secopd mort
gage loans on the New York division to
the auount Of sS00,000 dollars, and upon
/ the Penn>y ylraLia section Of one million
! dollars the former due in 1881, and the
| latter in 1882 These bonds, like those
of the first issue, bear interest at the rate
/ IF per cent, per annum, aud are redeem
able in New York or London at Is. Cd.
per dollar The bond, are transferable
without stamp or endorsement, aud 4 per
cent uf the gross amount is TO be drawn
yealIy in Jolly, to be paid Of at par in
London. The interest coupons attached
to the bonds are payable half yearly at the
Consolidated Bank, at the fixed rate of
As. the dollar, equal to 9 per cent. upon
the present price Of issue.
The following extract from the Buffalo
Commercial Advertiser gives some Inform
alton relative to'the proposed extensions
of the railway in the direction of Canada,
aud the advantages which must result to
the Great Western of Canada, the Grand
Trunk and other colonial lines, from being
brought into direct communications with
the vast coal-6elds of PENNSYLVANIA. A
line which will give direct access with
New York, must prove ef immense ad-
oil
Canada aud the Atlantic and Great West
ern Railway, over which so large a pro-
portion OF the Canadian produce will be
carried
The Niagara Falls, the Buffalo and
Lake Huron, the Lake Shore, the Erie
and New York Genital Railways, already
ceutTe in Buffalo. The opening of the !
Erie and Niagara Railway will enable the
Great Western Railway of Cauada to run
portion of its business into and fron
this CITY ever that road, which, it is IN.
der>tood, will be completed and in opera
ton during the coming summer
The great through lines of rariway Gen.
tering in this city. meeting the water, of
the great lakes, on which are borne the |
surplus products of an almost inexhan>ti. i
bic fertility, ha> beeu to our city source
of great prosperity. A railway connec-
tion with the coal-helds OF PENNSYLVANIA
has been made bq lines connecting with
the Lake Shore Road. The Atlantic aud
Great Western Railway sweep through /
the populuus aud fertile regions north Of
the OHIO river and west of Pennsylvania
into the heart of the great North west and |
has branch lines to Cleveland aud Cincin |
natl. It's broad gauge meets that of the
Erie Railway of corresponding width at
Salamanca, about City miles from Buffalo
Branch roads will radiate to the coal fields