New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-21
THE ERIE RAILWAY.
JAY GoULD's REPORT TO THE STOCKHOLDERS
REVIEW OF OPERATIONS IN 1869.

REVIEW OF OPERATIONS IN lSOv
The following report is printed from advance
sheets furnished from the Eric Railway Companys
Printing Office" 1t operations for the year ending
the Goth OF September: ,-..--- -.
To TIE s,ockhoders Of he Erie Ral,cay Company; 30
much has been written and said both for and against e
present cement OF the Erie Railway that deem
proper in presenting summary OF the business " h
stockholders the following account OF what pas peen
accomplished In the way OF Improvement 20 rnat ae
business for the future. ,..u
IL Is something over year since the present ina""s0
The condition Of the road at that time was not such as
to attract the confidence OF the travelling puoc o "
the 81 OF the S Gn and Of the
ducts OF the West 10 the Eastern markets The iron useH
OF IL worn ouI and unsafe This coupled with the acct
dent at Carrs Rock the previous sprng. was ght rs
the business Of the road both passenger ana Iregn
such an extent that felt 1t my duty to adopt the mos
effective measures at once ,,o.n
railways in the use Of rails and Of the operations
OF the few tuns that had been laid on THIS railway
the their gPest yaraby and siro1sh and the
necessity OF using them the eastern portion Oh tc
the roadbed operate dlsastronsly to the iron rails
We have laid on the Eastern ana DeaWare s,oan
nearly 100 miles OF solid steel ras-ten miles Oh
MANUFACTURER and the remainder procured from the pest
experienced manufacturers OF England Inc yoy ce
the coat of iron rails-cOnstrained me to investigate
whether a middle course could not be ADOPTED WIN
. hpbi "I in Decentralization with Mr. Abram g.
Hewitt OF the firm OF Cooper Hewitt VINO had gust
commissioner to the " Exposition Unverselle. ana
was then preparing to manufacture al the trenton n
While in Europe Mr. Hewitt had superior facilities
for the Investigation OF the subject OF steelheadea
regards the process, and at the places where UIe
they were used as regards their service, anu
her relative value as compared with iron and with sod
steel rails and awaited myself OF the favorable oppor
tunity secure the advantages TO De aerveS Iroan m
tract with his firm by which became joint owE srs
with them in the Trenton MILL where, during the past
wear they have been rolling these rails for us In az
about 1900 uns 100 miles, and so far the results OF
the wear emnenty satisfactory We have lain W an
during the past year. including the steel and
rails about 400 miles of track. The present cond
ton Of track is equal II not superior 70 any III ,e
fully established fully demonstrated by our large anu
constantly increasing passenger traffic. by Dec 81 1870
iona Which have the heavy coal traffic OF the
Pennsylvania Coal Company aud the Delaware ana Hun
tHon Of greater cost in the st instance safest and
cheapest in the end and will enable us to largely reduce
the expenses OF keeping up our track
DIy attention at the same time hiss been called TO the
matter bridges which, being OF wood require ire
quent renewals, and the increasing scarcity oi sutOo
timber along line enhances their cost from year 10
year and have concluded TO adopt iron bridges or
m future renewals where the proper foundations for
permanent piers and abutments can be obtained.
During the past season, IN addition 10 several sna
bridges we have had built iron bridge ESQ feet long
four spans-for the crossing OF the snsquGhahha fNer
lust west OF SgstucDdhHd DtIOl "uiSH 10 ho" "Ni"s
NTH steel rails and iron bridges for permanent
We safely predict large reduction oil expenses even
with an increasing business
LOCOMOTIVES.
The present management found the locomotive equip
newt in n very worn and unservceable condition. many
OF the engines having been for and maintained
by Pae ana fire 80 bo1e and ayere rebadns-the
old machines being worth only the old scrap. but stand
ing on the books and records Of the Company as 80 many
engines These old engines have received the necessary
attention fast possible for our shops to take them
in aud they have been @ & anu ea
Ing number the whole expense being charged 10 repairs
Paterson locomotive manufactures fifty engines, ten
OF which have to he delivered on present cOnthcts
and they are coming along ut the rate OF ABOUT o per
week.
During the fiscal year ending sept 3o: go.
Number o,p.ase. carried ,,s s. 5s p, s2.as
from The increasing basncss Of
the road aud also 10 keep pace with our competitors We
are rapidly replacing our Old passenger equipment ny
We are also adding palace drawingoom coaches 10
our day trains aud have found them to be popular fea-
OF the road.
Number Of TIN, Of freight carried t924os 33 tta
Ttl nuaber tn9s earned oGe mile s li ~ ~ g
To accommodate this large business We have made ex
tensiye additions to our equipment and eDdeavored 10
keep up the wants and requirements OF our local BUS
ness as well the through business very important
feature of our freight business Is The
TRAFFIC.
The Erie Railway will hope, In a short time, become
one of the most Important c9alcarrying roads In the
country This business Is very desirabe- Is given TO
us in fun trains. and the rates are good.
Dnring fine wear We have renewed the contract with
the Pennsy lvania Coal Company, and Increased the
quantity TO be transported for them annually from
800 600 TO 200 900 tuns commencing Dec !. 1859.
We have also concluded contract with The Lehigh ana
Coal Company for period Of twenty years.
with gradually increasing tonnage. commencing al $780,
and Running up 10 10000 tuns annually from Hones-
Under the present management this Company has OBJ
tanned control by perpetual lease, OF the Jefferson Rail
road extending from Hawley to Honesdale where 1t
cnects the Erie system Of roads with those OF the Del
aware and Hudson Canal Company. This road was com
peted and opened for coal traffic In January last snce
which time we have received from that Company large
and constantly Increasing business We now Loading
that IN m" wear $50 we ought TO take from 100000 70
100000 uns anthracite coal from iawey aud Hones
dale 10 Underwater We certanlv do 50 II pro
the and engines and hope not to default on
that account. 49,. -.
Early in my connection with this Company became
convinced that from the geographical position Of our
road and the many advantages offered by 1t TO that end
IL should do the carrying Of the largest part OF the
anthracite coal consumed IN the western part OF this
State we'll that sent to the Western States by the
Lakes On assuming the Presidency Of the Company,
at once commenced action TO secure that trade which
considered very desirable as IL would be reliable
and increasing and the haul would be long and
the revenue large Negotiations were opened with the
Delaware Lackawanna aud Western Railroad Company,
whose road with at Great Bend and the
terms Of contract to run number OF years, for the
transportation OF q large amount OF coal to Buffalo,
distance OF 22 miles, were all agreed upon And though
the agreement was not executed negotiations had pro-
coeded far that shipments we're commenced, and We
had constructed than one hundred cars OF the large
number we were 70 build and mark d. L. w." for that
line when that Company concluded all arrangement with
the Syracuse and Bughamton Railroad, aud the agree
ment with us was not executed nor carried out.
t then necessary for us. In order 10 secure
Of this trade and assume the position to which we arc
entitled by Of our line 10 form some other con-
nccton to tap the very heart OF the coal region
NegoiIaOns were accordingly opened with the Delaware
and Hudson Canal Company which, for the magnncence
of its coal estate and the magnitude OF It's animal pro-
duction stands among all the anthracite coal COM
panies Of the country, and arrangement was made
With tpem by which agreed 10 construct railroad from
Crbondae to SusQuehanna distance Of ~ miles, over
which, and thence 2 miles further on our main liue TO
Buffalo they are to ship annually large amount OF coal
commencing at 10000 and running up TO at
least 10000 -tuns by 1873, AZ favorable aud