The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-13

and OF the city, and tracks laid and operated
hundredtha The corporation has 1876 cara about 500
horses and extensive stables the suburban ermini
OF It's several routes and the total cost OF TINS VAST prop
e 81 the close OF the last fiscal year was reported at
$685. o. $50 800 less than the reported cost or
the four and Fulton Ferry Bleecker and Four
OF eleven mile Belt road ana S7 6sl lees than the
reported cost OF the four mile Broadway ana seventh
ass at e 5roosyn c sse
paid last $l27 5s5 In dividends after building the
Powers street road out Of ts profits ana vent out OF tho
OF the Brooklyn Heights cotere who control this mex
haustibie gold mine Is superb they own, and have
we need not name but who are wen known in this part
Of the country, and said % have been handsomely
paid By their employers since the open, ing o. tho
foot with view to slcing OF part OF IT'S tremendous
travel but whenever The schemers have appeared at
met them, wined and dined them, and when
unable to send them home bali seas over, they
sss 70 aSan
consent Of the property holders In the streets WHERE
ever they proposed 70 lay their tracks-a provision
winter these Senators played battledoor aud shuttle
cock with Demas Strong's Brooklyn City and Ridgewood
Demas found himself possessor Of railway charter
which created more acute anged tranges In his pro-
torv and a i fitting climax tho Senators had inserted
their favore clause requiring tho corportors prior 10
the laying Of single raj. to get the assent OF the
route which they had concocted in the Senate From
recent report it appears that Demas Co. had paid in
$40 500 and run their road into debt 10 the tune OF
S2A $751; the length of the track which they had actually
laid at that time having been precisely hundredths
Of mile The chief shareholders OF the Brooklyn City
Railroad are Cyrus Smith, Seymour l.. Hustled, Isaac
Van Anden, Senators Person and Henry c. Murphy and
others The stock is selling at go
THIRD AVENUE RAILROAD.
This great railway opened for travel In 1s54-the
time when capitalists invested their surplus in
railroad enterprises with the idea OF realizing profits
n mat Ifa init
Of $l700OO was SAID to have been paid in money Its
earliest shareholders saw many blue days and at one
time its stock was sold at from sixteen to eighteen cents
on the dollar. At this time Thurlow Weed and William
A. Darling foreseeing the future OF the road became
knows, was subsequently, made President and manager
Under Mr.. Dariings judcious management the quota
ton Of the stock at one time rose to 300 but the COM
pany thereafter built depots and added TO It's
ishable stock and thus piled up debt OF $400,O 00
which debt at the date Of the last report had risen to
81 O00 With the rapid increase Of the floating ana
funded debt whispers concerning the watering Of stock
were frequently and openly to be heard. It
was once broadly charged-but we do not
trace the charge 10 any responsible source-that
$500 900 Of the company's bonds had been given the
stockholders, for nothing the excuse OF the officers
being that the enhancement of the value Of their real
estate rendered such transaction perfectly proper IT,
however the stock has been watered the company
show in its eight miles of double track from the Astor
House Harlem bridge It's 10 and 1900 horses
its depot and stabethe largest on the continentat
Sixty fifth street. and in its extensive possessions near
Harlem bridge, something approaching an equivalent
for the 81 4O6 500 which the road and equipment
reported have at the close Of the last fiscal year.
$751; ISL William and Henry R. Remsen the heaviest
shareholders, and from 900 to 500 shares each;
brother Of these gentlemen about 200 shares
Henry and Mitchell Hart of Chatham street. from
500 to 200 shares EACH Wilson G. Hunt about 600
Thurlowsweed about 800 and William A. Darling about
100. These gentlemen control the road The company
is strong and It's stock is seldom In the market
The most considerable feeder Il the Third Is
the
HARLEM BRIDGE xoRRIsAx1A AND roRDHAx RAILROAD
road which has four and threefourth miles Of double
track nineteen cars and sufficient number Of horses
therefor and $5 900 worth OF real estate all Of which
cost only $223 $50 II Ia said that not dollar
paid get the charter for this road through ct Albany
Governor Seymour 8 personal TREND Of the corpo-
rators, having peremporily demanded Of the Senate
and Assembly the passage Of the BILL Under the charter
sDd New RcSs and
more on these spur rcads the Legislature has fixed no
limit 70 the tariff for either passengers or freight
To compensate the public for 80 valuable .
franchise tho corporation Is required, in con-
to pave, SIX feet each side Of Its track, se streets
through which its cars are run. But II may be
pesdsnt Of the Board Of Of
and other are officers OF the town. We need
expect very little paving. The corporations chartered
stock $500 600; but the total paid in capital is only
500 00o and the funded and floating debt Sl2o 500
The road has It's stock, and, being well and
economically managed, yields small margin Of profit
10 summer; but In winter when has 70 compete with
me s q % not ssDes Se run q
largely and permanently profitable until It's spurs
shall have been extended 70 West Farms and West
chester out OF the reach OF steam competition but
In their estimates they say nothing OF the probable
increase OF population In the neighborhoods through
liam Cauldwell, Horace p Whitney and John b. Haskn
In about equal proportions, one half Of the stock
and bonds Of this road and William and Henry Kemsen
largest Shareholders; p 7. Barnum owns 200 shares;
Abraham b. Tappcn. President, 200; Wynkoop Hal
lenbeck, printers, and Henry Kirk wine merchant,
from zoo TO 800 shares each Edward Back proprietor
Of the late Union Stage Line, originally held onefour-
$70522 expenditures for operating the road $54 $780,
THE EIGHTH AVENUE RAILROAD
built and for long time controlled by Oliver Char
lick President OF the Long Island Railroad, and its
stock might have been quoted ut ZOO but George Law
who acquired the controlling interest," had reasons
rel between Law and Charck resulting the latter with
drew selling his stock ut l40 Thcreupon Mr. Law made
nephew Col May, snpernendsa, and, and snsasioga
70 his papers directors he went TO work In his own
way running his cars whenever, however and OF what.
ever tariff has suited his sovereign fancy Live Oak
George has aspircd TO be the American Railway King
but his kingdom il inferior In area even TO German
being eou1dsd y the a TSs Sin.n svs
capital OF the road Is 81 900 and the entire sum
has paid up in money The total cost Of road and
ST. and the funded and floating debt the trivial
sum OF $160 600 Receipts last year, $726 724 operating
expenses S56A516 The stock is neither watered nor
fo sala The public have an indstnct recollection OF
ordinance Of the Common Council authorizing the
construction OF horse railway from st. Paups church
70 Harlem, the fare for the entire route 70 be
five cents for each adult passenger; but Law
Ia understood 70 have employed Judge 10 enjoin
his road Fifty first street and Eighth avenue and
when he extended bis track 125tn street he styled the
extension new road, and exacted q toll OF nvc cents
for any distance from Fifyhrs street northward IL 10
not known that he sought charter for any road
with termini ut Fyrst street and l25th street, and
bis right to exact double fare from passengers who
above Fifty first street Is not conceded oy those
Of the public who are pecuniarily Interested The
Eighth avenue road commenced operations with paid
up capital Of $780, 000 and does not pretend TO have
taken more than million from It's ocknoders' pockets
down 70 date; and yet after having never omitted
dividend the ousng Of Charick, It acknowledges
that its track and equipments cost nearly Sl4O0 ooO
thus showing that, In addition 10 their satisfactory
semLannual dividends, these Of the shareholders
who have held from the first must have been made the
recipients Of nearly 100000 In distributions Of stock.
Like facts exist elsewhere among our city railways and
they show why IL Is that capitalists who have recently
purchased insist that the railway companies cannot
afford TO comply with provisions OF their respective
charters and carry passengers IRON the Hall TO Fileth
street for FIVE cents each. The Eighth Avenue Com
pany's dividends have been iollows:-In 1853,
$104 O00 In 1860 1920 0O0 1851, sa6 1000 in 1862
$96, coo; In ls63 s96000; In 1894 SOS, 00o 10 the