New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-29
THE MONTCLAIR RAILWdY.

To me Editor Of The Tribune
SIR: My attention has been called TO state
ment recently pubshedin your paper on the authority
Of Mr.. Abram s. Hewitt Receiver Of the MOntclsr Mid
land Railway that the road cost $4,000 mile and has
been reoklessiy and improyidenuy managed"
Having been closely identified with that work from ITS
inception until far completed to be operated
10y the y. y. and o. Midland Company, | feel that
sweeping assertion publicly made calls for reply.
The Montcsir Railway was necessarily an expensive
one TO build any railway pa ssng through the suburbs
of New-York must be; for example, the Newark aud
NewYork, miles long, cost s3OOOOOO The reasons are
obvious and il difficult to how the Montclair road
ought TO have cost but $4,000 a mile" when. for
several miles west OF the meadows the right OF way
alone cost SO per mile and the many controversies
with landowners the line prove that the Company
spared no efforts obtaining the land cheaply pos
sbe The OF the road the ridges and val
Ieys. instead OF parallel with them, required large
outlay in construction. For instance, the cut
through the Kearney Ridge probaoyhe largest in the
country, one mile long, than half million OF
dollars and could not be made again for less than that
sum The Company from the first, In the Legislature,
in the courts, and among the people encountered the
unreenting hostility OF rival railroad companies whose
influence and patronage freely used to embsrrass
the enterprise and add TO its cost With these pre-
misses showing that the road must necessarily be
pensive one will proceed to enlighen your as
to the actual cost by reference to the books aud
counts
There is invested in the main road aud branches as fol-
lows:
Land taken for right OF way ........... t59o673 %
Construction. engineering. legal aud general
expenses 2So976l 81
Total $500 1875 20
Deduct cost of Morristown branch. s5O6.1I2 ~
Deduct cost Of Orange brancb- $3.50 IL 33l592 20
Total cost OF main line, Jersey City to
RlngWoOd, so miles,. B,o53,532 30
This is about $4,000 per mile This may large 10
some but only those who ignorant of the fact
that the average cost Of the principal NewJersey rail
roads as evidenced by their stock and bonds i27OO
per mile This disposes of tho assertion that the road
"cost tl500O0 u mile" and il, as believe. conclusive
proof that less recklessness has been manifested
building this road than in OF the criticisms
put forth concerning It, Another subject which not
embraced In the statement but IN which the public
is interested is the present indebtedness OF the Mont
clair Railway Company shall consider this subject
such light and 10 such extent TO show how far
the public is affected by the suspension OF the company
The debt is represented by first mortgage bonds,
N,0OCOi costing present owners about o0t .G200OJ.
Second mortgage bonds t7S0OoO not sold but forfeited
as collateral, costing present about 100000.
There Is due general creditors unsecured exclusive OF
New-York and oswegoAhdland Railroad Company. less
than si75Ooo The income bonds held mainly by
Townships benefited by the road by the early friends
and directors Of the road who paid their money Tor them
at par The stock OF the company also held 10 the
erent Of tbree91tns OF tho whole by tho 2rigna