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


"The New-York Central and Hudson River Rail
way" is the new corporation which is TO appear
henceforth in the business, political and other COM
plcations Of the State in place of the three with
which we have long boon familiar the Harlem,
the Hudson River and the New-YOrk Central. The
terms of the consolidation have already been an
nounced. The time seems fitting for brief sketch
Of the great corporations whose consolidation is
likely to lead to still greater and more notable con-
centratiOn of power.
In 1912, at the time Do witt Clinton was urging
the passage through the Legislature OF the Act for
tho construction Of tho Erie Canal, Col Stevens OF
Hoboken astounded that body by announcing that he
could build railroad at much less cost than the pro-
posed work. and on which transportation, by means OF
cars drawn by steam locomotives could no carried on 81
considerably cheaper rates and ut much higher rate OF
speed than possible any canal He laid before
them the results Of his numerous and longeontnued
researches but his enemies openly laughed at him and
called him maniac and SOME Of his best friends
regarded him as a man who had lost himself In expert
mental science. Had he lived in the days Of poor
Solomon dc Caux or Frar Bacon, he would prob
ably like those eminent men, have been consigned to
dungeon tho nineteenth century contented itself with
sneerng at him visionary and refusing to entertain
his propositions Aud yet only fourteen years afterward
such was rapid development OF steam looomoon tho
Legislature Of the State Of New York granted charter
II miles long, running between Albany and schenectady
In the board room OF the Hudson River Railroad Com
pany may be rough picture OF the first train OF
passenger which this line when II was opened
In 1881 Those accustomed only 10 the comfortable ana
elegant dra room cars and tho magnificent locomo
yes OF the present day. may smile at ts rude ana prim
tive simplicity In those days 1t was looked upon as
great scientific triumph And so 1t was; though few oil
those who eyed IL 80 curously skepucayicoud have
dreamed in their most sanguine moments Of the enor'
nous strides which railway communication would make
I'm the course OF the next quarter Of a century.
There are now less than 3,i95 miles Of railway open
the State or NewYork, built at total cost for CON
sructon aud equipment OF sos sis2 giving an average
Of $4,000 per mile against average cost OF construc
ton per mile In Prussia OF $4,000. gold in Belgium,
SOOOJ; In Austria $1,000 in France. $4,000; and In
England S2lO.OOO The total amount OF capital stock
authorized By charter and acts Of the legislature Tor
these lines Is tl9G5O29lO the amount of capital stock
subscribed for Is &l46533 the amount OF the funded
debt is s774337C3, and Of the floating debt 'Io0@7
Their rolling stock consists Of LII engines, 975 first
class passenger cars, lsI secondclass cars, 3C2
baggage, mail, and express cars, and 1924 freight
cars or their business the readers Of THE TRIBUNE
Judge from the reports for the year ending sept 80
1868 various lines OF railway carried In that year
H. passengers Of all classes 65Ss5l3 miles, ut al
average charge OF 2Tl per mile per passenger ana
at an average rate Of speed including stops for the or
trains 2i79 miles per hour. They also carried
oCl og2 tus Of goods In freight trains i3o8.t597S
miles, average charge Of 2i2S cents per tun per
mile and at the speed OF ll7O miles per hour including
stops Their total earnings amounted 20 Si9H77~ ana
their payments including t77l556 for interest c2S0o
for dividends stock and t2O2i added surplus fund.-
amounted to Sis27lI76 This statement gives average
cost for maintaining roadway for repairs Of machinery
aud for operating the roads, OF SuJ7 or an average
Of 72J5 per Of all the earnings aud an average Of
dividend paid Of q per cent.
OF the $500 miles OF railway in the State OF NewIork
sections Of greater general Importance than
the New.York Central and the Hudson River lines.
Both possessing terminus the capital OF the state.
connecting with al the most important lines u railway
ia this country aud Canada and forming one OF the prn
cpa arteries through which the large and ever ncreas
ing products Of Western and Northwestern states
lind their way the markets OF NewGOrk aud the East
they have scared to themselves enormous amount Of
cNtraucou- business addition to their local and domes
to traffic Their prosperity has given them this advan
20 over non paying aud struggling lines that they have
been enabled of their surplus earnings 10 bring their
Luc, into such a Of good working order that they
my be said TO be the best equipped and the
beet generally managed lines In the Union.
For time past the public have manifested consd
e,bic Interest lines, controlled as they
hy the y, Aerul aud energetic influence Of Commodore
vanderbilt aud prcscutIng they do unusual features
stability and prosperity. This interest has become so
intensified u consequence OF consolidation OF the two
companies into one that have thought 10 desirable TO
place before our readers few facts connected with
aud progress and their present prosperous con.
dton
y an act Of the Legislature passed April ?. isc5
cral companies - the Albany and schenectady the
SCHENECTADY and Troy Utica and Schenectady Syracuse
und Utica. syracuse aud Utica direct, Syracuse and
Rochester Buffalo and Lockport, Mohawk Valley Roch-
ester. Lo,hport, aud Niagara Falls, and Buffalo and
Rochester whose lines made continuous route 10 New
York and Buffalo. or brauched from it-were amalga-
mated and consolidated into company 10 be known
a. the NcwYOrk Central Railroad. OF these different
lines some had hecn constructed for long time. The
Albany and schenectady 0nown till lsi7 as the Mohawk
and Hudson line OF railway constructed in tho
United state II miles In length opened In 1881. but
Vas uuIcmuuCmuyo for number OF years; the Utica !
and schenectady, miles. opened In 1885. and fire.
qurHty paid dividends at the rate of 10 per cent; the
syracu and Utica, So miles, was opened In 1899. ana
ulo paid dividends averaging 10 per cent; tho Science
aGy and Troy q miles opened In 1872 but TIL its
incorporation in the NowYOrk Central II operated
at the Auburn aud Rochester, 7s miles opened
I'm 1879, and the connecting Ink between Auburn |
and Syracuse. &c miles, I'm Isi3 and paid diyi. |
denjs averaging per cent. II was not how |
ever, I'm 1852 that the remaining portion OF |
the route from Rochester To Buffalo completed The
aggregate capital OF the original companies s2s5s
co., The stock OF the Albany and schenectady 635sOO
was taken tho consolidated company at the rate OF
III the schenectady and Troy $65OOO, rs the Utica
aud schenectady 81 5OOOO at 1866 the Mohawk Valley.
10000 al 1866 the Syracuse aud Utica. s27oooOO at
1906 the S racuse and Utica direct s6O0OO nc 100 Roch
ester 20 Syracuse t6O6OO at 1870 Rochester Lockport
aud Niagara Falls S2ol6iV, at 125; Buffalo and Roches
ter. S3OOOOOO at 100 and the Buffalo and Lockport,
s675.OOO at 1875
In the year the consolidation OF the companies
carried out and the dream OF old Col stevens OF Hobo
was realized, for passengers aud freight could now
bo trans ported without break from NewIOrk City TO
Z rnl,.r u ILnhn Min