The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1865-11-28
IMPORTANT RAILWAY ENTERPRISE.


During the visit of Sir Morton Peto
and his fellow travellers in this country,
arrangements were made for the compile.
tion of broad gauge road from this city
to Cincinnati, with the object of contin-
uing the route eventually to st. Louis
and the Pacific coast.
The prosecution of this enterprise in
cIudes the building of two hundred miles
of new railroad through the mineral and
oil regions of Pennsylvania; the leasing
of the Morris and Essex Railroad, run
ming from this city to the Delaware RiV-
er; the leasing of the Catawissa Railway,
road in Pennsylvania, about one hun
dred and twenty miles in length, in the
direct line of the proposed route the in
tersection of the Pittsburg, Fort Wayne,
and Chicago Railroad, from Crestline to
Chicago; besides establishing branch
roads to Buffalo, Pittsburg, and other
large cities.
The present line of road owned by the
Atlantic and Great Western Railway ex-
tends from Salamanca, n. Y, to Cincin-
natl, Ohio, a distance of four hundred
and forty eight miles. At Warren, Ohio,
branch road, fifty three miles in length,
runs to Cleveland the Oil Creek Rail
way, another branch, runs from Corey to
Shat1er, distance of thirty-four miles;
and the Franklin branch runs from Mead
vile to Oil City, distance of thirty-six
miles making the whole length of the
road owned by this corporation about six
hundred miles.
The epassengers ofthe Atlantic and Great
Western Railway are now taken from this
city to Salamanca, a distance Of four hun
dred and fifteen miles, over the Erie Rail
road. From Cincinnati they are taken to
St. Louis BY the Ohio and Mississippi
Railroad.
1t is the intention to complete road
which will equal the English railways in
stability, and on which trains can be run
as rapidly and with as little risk or loss
of life as on those in England.
Sir Morton Peto and others, acting for
the Atlantic and Great Western Railway,
obtained lease of the Morris and Essex
Railroad for term of years. The length
of the road is eighty miles. The eastern
terminus of the road is at Hoboken, and
the western terminus is at Phillipsburg,
on the Delaware river, opposite Easton.
The company is to receive eight per cent.
the first year, nine per cent the second
year, and ten per cent. the third and each
succeeding year, on the capital stock OF
three million FIVE hundred thousand dol
lars The shareholders of the Morris and
Essex Railroad Company are to receive
in addition to the rent proportion of the
net earnings of the road which may re
main after the payment of the rent re-
served and other expenses, including
interest upon the new outlays to be
be made by the Atlantic and Great West |
ern Company.
The route lies through the richest ag-
ricultural and mining regions of New Jer- i
sey, and terminates within forty miles of
the coal region of Pennsylvania. The
local trade of the Morris and Essex Rail
road alone will amply repay the Atlantic
and Great Western for their investment
During the present year the receipts
of the road will amount to about
eight hundred thousand dollars on the
trade and travel between New York
and Hackettstown. The route will soon
be completed to Phillipsburg, and it is
expected that tho receipts during the
ensuing year will amount to one million
and half OF dollars.
The Atlantic and Great Western Com.
pany intend to construct a branch road
from Danvllle, point six or seven miles
west of Morristown to Boonton and Pat.
erson, connecting with the Morris and
Essex Railroad near Newark. This will
give more favorable grades and much
better line for the heavy coal and western
business. The same company will also
complete the double track from Hoboken
to Morristowp. and from Danville to Phil
ipsburs. The work is to be begun at an
early dav. and pushed forward as ranidl1