Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1871-05-25
IMPORTANT RAILROAD MOVE
MENT!
The Rensselaer, and Saratoga Rail.
road Leased to the Delaware
| and Hudson Canal Co.

road Leased to the Delaware
and Hudson Canal Co.
! RUTLAND TO BE A COAL DEPOT.
We copy the following statement in
regard to this important railroad lease
from the Troy Times of yesterday after
noon:
CATER good deal of negotiation during
the past few months, which was supposed
to have been permanently suspended, the
Rensselaer, and Saratoga railroad, with
all its property, business and belongings,
has to-day passed permanently into the
hands of the Delaware and Hudson Ca
nal Company at fixed rent, which must
be satisfactory alike to the share holders
and the lessees. 1t is understood to be at
the rate of eight per cent.
To the lessees this property must prove
very valuable one. The character,
standing and reputation of the Delaware
and Hudson are very high. Their busi-
ness is coal; they seek market for coal
They know that the possession of an ex-
tended line of railroad, which furnishes
an avenue for coal at fair price, is a
profitable investment. They have been
shrewd enough to see that by the posses
sion of this property they can lay down
coal at their depots in Whitehall and
Rutland for the supply of Northern New
York, Canada and Western New England
at prices which shall be in successful
competition with that received by canal,
or at Boston by ocean navigation. 1t is
not guess work. They know what they
are about.
To the citizens of Troy this movement
is grave and paramount. What this city
needs for doubling the value of its prop
erty in the next fifteen years is cheap
motive power. It's first impetus as manu-
featuring town was the development of
water power on the Poestenkill, Wynants-
kill and the dam across the Hudson. The
power of the kills is exhausted that of
the dam is practically so save for limited
establishments. There is no room for
great enterprises. The manufacturing
power of the future must be coal. 1t is
only a question of how to get it. By this
lease the Delaware and Hudson Company
say 1--WE will load your cars at our
mines WE will daIivAr tha-a of the don-s
y: your blast furnaces, your foundries,
your stove factories, your factories of
every kind, at the minimum price prac-
ticable. We operate three roads in order
to sell coal. The mines are inexhaustible
our profit is in the sale" SO that we
look confidently under this arrangement
to the development of the manufactures
of Troy from the necessity for market
for the Delaware and Hudson Company e
coal.
This movement doubtless secures also
other and very important advantages to
Troy. The Plattsburgh and Montreal
railroad, the Schuy uylerville road, the Green
Island road to Albany. will become i'm
mediate necessities. They cannot lopg
be delayed.
To the stockholders of the Ren sselaer
and Saratoga road this result must be
highly satisfactory. They took the road
when it was twenty five miles in length
they part with one hundred and eighty
one miles-practically with three hun.
dred miles, for they own a controlling
part of the Champlain steamers. The &C.
cretion has been by lease, by purchase, by
consolidation, by long-headed manage
ment generally. If their pockets are not
swelled with gratitude toward the man.
ayers of their property-particular to-
ward the chief officer, President Cramer,
and the indefatigable Superintendent, I.
V. Baker, on whom for years the toll and
very and wear of this business has worn
their pockets have nc gratitude, though
they have at least been replete with
profits.