New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-05-01
The ~. Y. Contra, stas,roed BiiI-Ths
Governors Veto.
TIE following appeared in portion Of edition % Satu


my approval, Senate Bill No u.s. entitled An Act ;e-
Isiins 70 the NeV.Iork Central iisilrosd."
When the law - consolidate the scyo-nl railroads
connecting the cities o: ALBANY ana Buffalo wa
projected IT'S pas sc vGs urged because II "eud
largely facilitate The tfanst OF ssengers and freight
between the West aid the commercial metropolis The
Argument in favor Of the ineasnc was confined almost
exclusively 10 tie supposed advantages which would
scciue 20 the public and o. the people ~ tr STATE IRON
Tie reduced cos, Lvc ssaiy resulting from nn4ty d
management.
An examination Of the various acts show, that the
legislation Of the Gts OF NewYOia has been sreaty
Influenced IL the considerations which were urged H.
favor of be aOi Of consolidation.
The charters OF some OF the roads first autbOri ed
contained prov slpns enich rstrai1ed them RON car.
rying freight If any kind. The alleged necessity ~
protect the State reveuue. by preventing competi-
ton wtL the Ere Cai-l wAs &c paDhshed ldsthch!on
afthcse restrictions.
A few years of experience. however clearly demon.
straied the error 90 tis pDsitol. II lecane 20 be
understood that decrease of the OF the state
canals might b. ire less of two evils AMI tint hanced
values OF real estate could he sufy led upon
from wmch toe expenses Of the Government
should be derived than tic uucei,uln and limited re-
eepts resulting from The mp sition ~ tOis upon com
nercs! articles IN tfalst between the consumer qua
she producer.
IL ACCORDANCE With the teachings o. experience, and
~ response 10 tie demads Of the people, the Leg
eture haS from time 20 tme move, The resulc. IONS
which virtually COVE the Erie Canal moDop0y " i.e
business Of transmitting merchandise ous produce "
She provisions II chapter 33l 81 the Law
OF 1871, the Utica end Schenectady Railroad
Company was authorized to transIofs good
srs0 for transportation dirR ihs saspsVso' Of camel
sasi9a,ion onlv' ana "sna pas to TIE Commissioners
Of tie Canal aud The same tolls per nilo On al the
goods chat Is and other property so transmitted a.
would have been pdd on them had they boon trans
rr,ed Oh the Erie Canal TIE same eci which thus
Removed the pfO isTiou ieisht provided that
Q railroads west from the terminus o. the Utica and
henectady Railroad should have the privilege OF
carrying local freight without being tuhJccted 10 ihe
payment OF toll.
by tie provisions Of chapter 90 Laws o, ls47 Tire
Utica aud Schrnec rdy fsrcrd Company are az.
thorEed 20 take aud transport upon their railway III
goods chs'els anc cihfr pr CRY iLrt my DC oieteu
Tor transp rrau' ui b. he act tie same Driy-
eges were given the connecting roaisihus yielding
the RICH. 20 carry freight thtugiOut ITO entire year
urop condition tnat sacb f,sht oud pay - the Stale
tie sane tO Il which they would have been subjected
had they been transported o. thr canal $780,
By Tie provisions clCper 4C7 # the laws Of 1881
.he Legislature provided that il sht 80" b. necessary
. any railroad company in this state 90 pay any suus
~ ~ ey into the TrcanrH II tins - t. On Sceouni %
ehe tra- oIta'iou o. properly ohhiy rAiroad on enc
.ne ~ Isl day of Deoen boz. in the year
ore thousand -. AHnu.o. ga. -, .o ruI
finally removing c. ~ the demands 81
comueroe aud iu Obe1ieno> tie reTernss =.
trade permitted this silnGrfNal f--'- heneG,s ri
the cansls that too en, j. GlS tHiy lho -.ieh
cheap intCTcOmmuIi, 'i.3n. Inc P'0eese -
this result atia.uec vas Ei1. u-I Dat hnre' uLn
SLOWS tainiy ttst those who :rnm tmo 10 time, gave
tese reasucs their oicicai s7Hclc1, were actuuted
by sincere aud enlightened dc'crnin Ron 70 secure
70 the people eli tie ody tagcs possible 20 he derived
Tbe I4xi,lnture 81 le5e follow the the established
Yrecedcuts ard apparently prompted oV the same
motives VI ch had market tie .tii'ns OF theH p'eue
ressrs removed tie obstacle W 'c stood IN the "a! 81
Toicy previous dccsred L' cons' ldotng me "eFeia
curforanls At lod the a. .4A age oi centrhbc4 u
recton In consideration ~ tbs maj ami SoVantaseous
concession tho l. rTitnfe o. tt~J Only 'A'c'o" int
hon two or more railroad con p1nles bahtt IN
,Nis al are so ted sci consolidated company
shaN carry pgssearor "a i1rf r"no az ra'o 10y
10 exe d tN o cents pr nile" Ia King thlsTes'r c.
tlon the l. i.atf" 111ered to the phcy o. ire state
o. previously e,pr,s.o ard 'oc,Ird 81, same b. psl'
tive enac'menty hc 80 removed rVfIs l'fu =. iss.I
ton which could enhance CO." cost o. tr"tpi i"lou II
.ro:setcd .io rights az t'1 puflo ~ limiting e P'4eo
&hioh should bc ey' cief. 4. D.,
b the provisions o; tie act herrEIh returned y
songht 70 reverse she legislation oi 1888 " ehgo q .
policy which 90 have bcln developed bN previous
legislation and ~ ..Dnss higher rate Of fare up n
tho peopl. who mo- end 70 necessary 10 pass over THIS
the OF he Central Company.
The reason given % ae yuhhc for this proposed IN
c-ease OF cost l. ne ALLEGED undergraduates Of q e
scmpeusation wA'h rs imphcs'iDn asserts, that tic
revenues q tie c0mrly DO not afITd Just aud lar
return f0r fhe cip. Invested Aiier cAfcinl exam
naiou Of the - OF toe company, d. not Ind any
hing 20 Wurrul. THIS stgtencnt The Oihcm 'einris
made IRON ar O. yel. ~ ere state aut1Orities undr
ne requirements II the general railrOad act
show that the income on the NOMINAL oapi-
"a invested is lsr. ~ tlan iht Interest paid py
DE National or Sl,fr Cove ents add also larger
o. q me Interest o.. ilcd % be pha fT the use q
noney ~ fl4 laws 81 iis S;lso have reason T. b..
Ieve tlat the rgu na clrltd and Indebtedness Is IN
eXcess u tie c6si Of le proprtY owned by the Com.
psuy that te dividends tarnsd On ~" rod eapltl
-oriH-atioa o. IS &c ca. aotc. 10 q 10 state. 800
Ttls sdwitti property 10 songit 70 be qualified BY
mn tie r-.Cts n ". earred are accumulated from
NJ charges Imposed Oh iregtI while passengers are
psrried Mt los.
= That the aprarert success % previous YEAR, docs
ortexhlt lie present CONDITION III TIE road because
~ previpu. OIeIaii0H1 were c9rIci on curing period
ebsn most II al iLc articles oonsumcd y lo com
p.Hy could be obtained at cost -usL irSs lion the
pr.scs aOw peid.
~ conneotion Wit the frs. If these declarations. It
r. intinsied thai II tle state sla r"!uso 10 1ocede
lno proposition a. impose lgher rate O fare uoy
pnssongers To ALLEGED lo.s Sustained tlGt class Of
,rsihc must b. maze fooG y an oddlucnll imposition
spJu freight
Admitting ihe pr,psiety Of making each class Of
bu5 n~s' Tesycciif Irnlneiht.Fe. bat guarantee IS
given that increased cha ,es or freight vii not be en-
forced - well i THIS biz ska become law. as II it
shall ali There il 90 provision ID this ban 10 protect
thOuR passengers m1y be made 70 bear greater pro
portion OF the cost o, operating tic rOed.
The Practice Ntcl bow prevails 20 such an extent of
aoSeciiue the tcDnr, ~ ~Hy tTaihe until 70 81 conf
yelled 70 employ intermediate agenis The form u ex
pres companies at greatly Increased prices udonishes
~ u Le Nsictm ihht 10 more discretion 10 given to
auy O. pOration th is demanded by Justice and al
seied purpose f0rd 70 such enterprises yenerous
sld satisfactory ieiufn FOR the capital Invested and the
riak ulred.
cannot ooDorr f. the further suggestion advanced
IN Qualification Of this hlL L, may be TINT tho
tnaDtes # the cpnp. have been Oppressed through
Resulting nom the disturbed condition Of the
country. Al exam grtOn. however Of the last annual
report Of thecOuplrY for the fiscal year closug tho
JON day OF SeptoADar le6i shows Its operations to
have been quite successful Ia addition 10 dividend
o. nine pr ccnt, free ~ Government tax had earned
pO IN Locorni ~ ia funded debt and not FOR sink
G innas snd inci9dlng its cash balance. over half
million VI dollars
II had also largely ncrea,ed the quantity Of it, roll
osock shd had sustained alleged loss through de
serorstons 0 any Kind. that the 10 ad
eton " '1e cash d,laends paid thep. had very
property.