The Portland daily press., 1869-11-26


Their largest item of trade, as will be seen
is lumber. Reducing vegetable food bread
stuffs to bushels and it shows that ,659 PAS
bushels OF grain (reducing flour to wheat)
passed over the line OF the OgdensbuIg &
Lake Champlain Railroad for the year ending
Sept. 30, 1868.
The Rome, Watertown and OgdensbuIg
railroad, carried 2,057 POS bushels of grain,
reducing flour TO wheat, over its line for the
year ending Sept 80, 1868.
These facts do not tend to satisfy us Of the
correctness OF the statements OF MIR. John q,
Pratt, President of the Ogdensburg r. X. Co.
in the Portland Advertiser of October 26, IN
which Mr.. Pratt is represented as saying,
sour receipts Of grain we've larger in 1858,
than ever before, and this year there will be
an excess OF nearly fifty per cent over 1865.
All of this is brought by water, and mostly by
boats of the Northern transportation Com
pany."
The Northern Transportation Company de-
| livered into Ogdensburg only 10000 tons Of
| freight of all kinds in 1868, and a less amount
| than that, will be delivered, as l am informed
| by that company in 1869.
| Looking farther into the returns of the Og-
| densburg railroad for 1873. we find the earn
| mgs from freight were $7S6,672,58. From all
| other sources, passengers, mail, express and
rent, but $500, 0,407,99, or total OF S9S7 086,57.
| Dividing the freight receipts by the number Of
| tons carried, it would show that they received
| at the rate of S2.37 per ton of ireigut moved.
| for transportation expenses, leaviog but s739-
| SS6 03 to pay interest upon the debts OF the
| company, and the dividend on the preferred
| stock, by S12,655, 96.
| The heavy cost of transportation, over the
| heavy grades Of their line makes an increase
| OF business upon it worse and worse for the
company. The cost of the line as shown by
| its stocks, bonds and debt has kept constantly
| increasng-so that ii Ogdensburg had a.
much grain trade as that Of Oswego-and the
| railway to Rouses Point took 1t away, 1t
| would not help it at all.
Every one familIarly acquainted with the
transportation business upon the st. Law
| renee river and lakes, knows that the trans
| portation OF freight over the Ogdensburg rail-
] road has to be done at such rate as to afford
| really no profit, and the company has been
| kept alive by increasing its liabilities.
The Northern Transportation Company's
| boats run the rapids and deliver their freight
on ship board at Montreal, a. about the same
rates as they 1eliver 1t at Ogdensburg, so that
| the Ogdensburg transportation market Is
kept in such an unsettled condition, that the
business is necessarily unstable. Such was
The testimony Of leading parties at Ogdens-
burg at the time Of our visit in October, so
from their being an actual increase In the
transportation of breadstufS over the line of
the Ogdensburg r. r. We are satisfied that
| the returns to he State Engineers Office for
the year ending September 30, 1859, will show
a less favorable business than the three pre-
| vious years.
1t appears that rs and 70-100 per cent. Of the
| gross earnings were consumed in transports
| ton expenses in 1868, and 70 and 44-1U0 per
| cent. in 1867, while in 1866, 90 and 68-l00 per
cent of the gross earnings were consumed In
transportation expenses, over the Ogdensburg
| line.
| The road continues to run, and will so con-
tinue as long as the Company can run in debt,
| or till they get consoIidated-fof which pur-
pose a convention is soon to assemble, as we
are informed by Vermont paper, to perfect
/ an agreement of consolidation tor which au-
| thorlty was granted by the Legislature of
Massachusetts, at its late session. There Is
"a general statute in Vermont under which
lines OF railway may consolidate at pleasure.
! One is almost tempted to believe that the
Fairbanks had sufficient interest in the Og-
densburg and Lake Champlain X. X. Compa-
| ny of New York, to desire to bring about the
consolidation of its line with those from
Rouse's Point to Boston, or that they had
been hired by the holders of this S3,0fO90O OF
worthless stock to work 1t off; and bad In
geniousy contrived this plan to cheat the Bos-
ton people into belief OF its value, SO as TO
secure the adoption of this line, into the con-
sodated Company. OF the morality OF such
transaction, it is not necessary TO speak.
! 1t Is unfortunate, as it strikes me, that Fort
| land with its limited capital and heavy taxs
tion, should be led into still mora ruiSIus
| scheme and that to, without knowlS.se oy
any one here OF the ability, pla9ss Rerlp"s
and designs OF those managlp9dens sbnrc % u
| sections OF the Portland ap' -'i'
project JOHN A. POOR.