New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-11-03


ists and laborcTs numbers about 5000 persons.
The total earnings Of the Company for iars we're az
3S 39. and the total payments. other than for cusfc
ton, were si247s.225 This amount uciados two DIV
amounting to s. iCO2m H. 1854 tho total eost ~ ,
ting the road S5Oe9.oi and she total eanins. aud
t2sJo293; la 1860 the Of operation was a and
the earnings and receipts sGgj52n, showing AN esce m
eaGnss OF S67siol In 1893 me cost - operating wa
s92Jsl62 aud the earnings S4Si 33, showing an exr.
OF earnings OF SI454l. nearly double tho excess N
been "a per cent OF the IN Cs against ID rar
cent IN 1851 but the earnings are nearly three times AZ
one.thrd The public may Judge ~ the arrangement.
inade by ts company Tor me safety OF travellers on their
sons injured during last year only were killed and
eght inquired by any accident for which the COMPANY
could be made Ia any way snswerable.
Last year The Company paid two dividends OF 3 ana
posing issue TO the stockholders scrip dividend Of n
per cent bonus For number u years pact the d.
GeSI9rs had been expendns money OCT Of the annual
charge which. Il was Considered BY many, SHOULD Do
moro fairly placed TO the account ~ capital Than 90 that
OF revenue. But the directors bad aIgf! lg0gsd Ihe
policy OF treating the construction account As snbsan.
consequently rot so large they felt they had right 10
expect from the earnings Of the line. 30 r back iss
Directors Animal Report Of the affairs OF the Company
inserted the following clauses m their report 70 their
feowshaIehoders, calling their attention 10 ths point.
Your Committee are Of opinion that the policy VI the
directors has been TO charge 10 transportation oXpene
which are Of substantial character and which add 10
the permanent value OF the road. TINS transportation
peses are made q appear considerably larger than they
would under different practice.
" Your Committee approve the policy OF making such
improvements OF the road as from time 10 time found
10 De necesshiyi Dnt lhs should possible, De done
from ia earnings rather than from the proceeds "
roads; they a the time are 81 opinion that
time In the future but not at present, the question may
be entertained with proprey whether surh large add
lions 20 the permanent value OF the C0mpanys property
ought not to be represented by corresponding ncrcas
In the amount OF its capital stock"
The amounts thus annually expended have accunu.
year the Directors appear 20 have 90 TIE conclusion
that the time had arrived when action might Dee safely
taken the suggestion Of the sockhodcfs COMMITTED
Accordingly ia December last the Directors proposed
issue 10 each stakeholder, according 10 his holding
per cent interest certificate bonus. such certificate TO
be hereafter converted into divideud stock. fhs
raDgement will, however. have 90 Do C"nlrmed AZ q
special meeting Of the general body Of stockholders J
TnE HUDSON mvrR
The Hudson River Railroad the pet project u NJ
James BoOrman. n not the actual originator The nne
he certainly the most active u Promoting % aud oh.
tanning its charler from the legislature The u In
corporation was passed May y, si6 aud Nh Boounan
Chamberlain being the President Tho contract for tho
construction Of the line was given out In Two PORTIONS
keepse. the other beginning at Albany. 90 the gOth
september ls49, the line opened iar poeksk.
year TO Poughkeepse. The other end OF the nns
was opened as far as liudson on lcth june l1l.
the attn OF August following. and by che Jet Of Octobcg
the two sections were united go PougIkcepsc. The
was opened the I'D Of February. Ifc Adoube track
extending throughout the entire length % Che line H
miles, completed IN 1851. Tue COMPANY have also
third track three miles long, between Eiyninthst ANA
Manhattanyle; and third track is expected 20 Oo hu
ished by the middle of December neat bOtNtcu laung.
and Tarrytown. The total cost of construction and
equipment Of the road Is tlgl-5",9 or 80 the rate
capital Stock now OWE pad nd IN b. sIsp2.,e,
the total amount Of the funded debt. which bear.
and U the floating debt tl,l61. The Company have t.o
leased for period Of 9 years the Troy and Gr,onhash
ltttIF teH rfsrla bfg audi
aud was bult Ia lsi5 The Hudson River i..iroad Com
pany by the terms Of their lease AZ bound o. kept
PAR aud to pay per cent per annum on ho capital ~
Few railway companies have bad O., contend so long
with want Of prosperity aud yet after 600. have como
out Of their struggles WITH nyug coot, TO ihe extent
the opening OF the line the road Was not only ulremlgo
atye but Was often worked az az actual lose, atd tha
price Of the COmpauy's stock iu WslI-t -Deud,d leo
,yeveTny But an m wind il,i l,v Ifoty afy
good aud the great seemed io bring sudden ,haugr
Of fortune to the Hudson River Railroad on teh p. 49,
they paid their nrst haliyeary dividend 81 pei cen
lsJ2 the nrst year after the luo Was opsugd, Ito
Of ~ 800 inns of tRroggh n,erchanif.. ts1s tan.
of through 1--we stock. I6,6sO tune ~ way freight
aud 2Uu OF expresses. The earnings ON ths ftr
gn,on,ted fo sglsl In isGs they carried 2U..ff pls
sengrrs, aud COZ tuns Of freight. canning thereby ~.
49, 90 In sGs they carried $40 J plr-,nf- ana fli
for the last year Sj5f2ls aud their Dt paymeui.
including dividends their stock at per cpat pea
mum we're $ 5.2gg6 leaving balance i cash u hand N
sl3, The cost OF Operating the road m it vas 81 80
per cent OF the earnings. la ls tlr Cu.i o upr
nng Was 3s25J5 or 20 per cent OF thr earning SLOW
ing an Increase OF 10 per cent: but thI- lt
crease Il undoubtedly owing 20 the ruat
ia the price OF wages and material durHg
The past nye years The present rollins stock o. 10
Company consists Of - engines. dummies, 90 hrstC-s
aud Is socOndcass Passenger care AID 1855 irCl cars
which trayerscd total mica. during i, year uf l.-
O73 miles on tho 18th OF June, 1904. Commodore Nau
bit Joined the board 0f Dlrecl0rs of WHOM John p.
lac was elected President William II. Vanderbilt brius
made Wee President at the same time Pom that uulc
tO the present day Cornelius Vanderbilt bias been the
master sprit OF tue Hudson River kau'cl. sd during
his rule tne COmpany's dividends have 1ecn Increased
ON no other line 81 railway IN the Ut.eA states are
careful taken 20 prevent ti urrurur -
accldtEis 40 tyss nan ~ ueu IT. 80 ''u u.
intervals along the Inc, whose dutyH r"n-iai :! ~
spect the condition 0f the track % com luuico iue
gcncr 10 one ahotneE ahd lo warn si''"i~ ta'Nr ''
OF danger EieA man mas seul. '''A TO- .s piv
lection uccmeut weather aud Is PROVIDED Wiih ttd
his lantern and Ia OF danger be stops thr approach
his lantern. Zach man j. also provided WIN asi"rk
OF explosive materials FOR ioggy weather. which
explode with loud noise and brilliant fash tho
mont wheel VI the locomotive runs over t"tm' Puhs
the interval between the passing OF trains each sgutI
required TO walk over his beat ana WITH bis i"n
mer tighten up tue Wedges or spihys Wen h't'''iIg
made Of the locomotive ann ours, with
every thing belonging 70 theh' at NeMiulH A. lrrhsAl
P0ughkccpsit and Albany AT every ARRIVAL OF ptr-aEe
Of train by practical mechanics The mad bed supyr
structure and bridges are Inspected AMY bl the ROAD
masters who have IN charge certain putt'hs tsth WIN
fOTcmen and sufficient iot,e Of la00rtr
70 enable them 70 carry out minute
daily inspection This system, which u believed 10 the
officers OF the Company 20 be the most octul Tor the
protection Of the lives Of passengers. has been la use
since 1850 Under IL only one accident o,tued TO pas
sengers during year. when four persons very
slightly injured. All the Companys trains frtUd
with the Creaner brake Ia addition Ia tle ordinary
brakes a very simple oontuyance by which the engineer
can I'm case OF necessity stop the tau iu Ju Incredibly
short space without the assistance Of tbe orllrary
brakcsfnan by simply detaching the catch which holds
the brake after IL II wound mp