The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-09-30
The New York Central and Hud son
River Railroad Company.

son River Railroad Company. emphatically
declared. In answer to statements which
have recently appeared in JAY GouLD's
Tribune, that that company has paid
all it's dividends and interest from its
net earnings, and from 10 other source.
And further, that the New York and
Harlem Railroad Company has earned
the eight per cent. guaranteed by the
New York Central, while two per
cent. additional has been earned by
its city limo. This assurance is timely,
and will no doubt reassuro those timid
stockholders whose minds may, rs Mr..
Vanderbilt says, have been disturbed by
JAY GouLD's articles written for specu-
lativc effect"
Those who are familiar with the gigan-
tic traffic carried on by the New York
Central ana Hudson River Railroad
will have no reason to doubt the accuracy
of Mr.. NANDERBILT's statements. The
enormous increase in the business OF the
road Is made manifest in various ways.
more especially through the complaints Of
shippers in the West and produce mer-
chants in this city, that the supply of cars
is not equal 10 the demand, aud that large
transportation ut Western centres. 1t is
pretty generally known that the equip
ment of this road is larger than that of
any OF It's rivals, 1t having in service (ac-
cordng TO PooR's MANUAL 15,327 freight
cars, against 1i,130 OF the PENNSYLVANIA
Railroad, 1l,Hi of the Erie. and 1889
of the Baltimore and Ohio Railroad. II,
with its large equipment. and the right
to use the cars of all its connections, and
with the prompt handling of freight which
characterizes the road, 1t cannot supply
the demands made upon il, IL is safe to
assume that the road not only has all the
business II wants, but is worked fully up
TO its capa city. And in this assump-
ton we must not forget the fact that in
view OF the Harlem lease, the New York
Central and Hudson River Railroad is sub
stantialy a four-track road from New
York TO Buffalo
II is understood that about the middle Of
November the new mammoth grain ele-
vator aud freight dcpots at North
River AMI Sxteth street will be
completed and in use. The graIn-elcvat-
ing storehouse is situated on bulkhead
facing the Hudson river, and running from
West Fl fly eighth to West Sxtieth street.
1t is 354 feet long, 100 feet wide. and 100
feet high aud co insists Of two lower stories
Of brick, above which will be "a series OF
bins of a capacity of 100000 bushels. The
grain is TO he deposited in the bins by means
oftwenty elev ltors of the best construction.
The grain received in the building from
cars running into the lower portion of il.
and from canal boats, will be stored for
direct delivery to ocean steamers. with
the Use of this vast Improvement will come
the ability TO unload cars and
start them on their way back
West for more freight in minutes,
where heretofore it has taken hours. In
word, the roads equipment will be more
than doubled, for 10y this improv ement
twenty cars can be unloaded as quick
ly as one can now. thus likewise Sc
curing an additional economy In tho
handling OF freight. II is well known
that the great bulk of Commodore VAN
DERBILT's fortune is i'm the New York Cen
trail and Hudson River Railroad. The
capital stock OF the company is 800 900 900;
of this the NANDERBILr family own fully
two-thirds, say from so, 900, 900 to $4,000
900. This is the strongest possible guaran-
tee Of the faithful administration of the
affairs of the company un der their man
agement. Having an eye TO their own
interests, they will never knowingly per-
NIT dollar of waste or loss, since two
thirds of that dollar must come out of their
own pockets. As regards the efficiency Of
the management heretofore, the results
speak for themselves.
1t has been suggested in some quar-
tiers that Mr.. WILLIAM III. WANDER
DMr, in the event of being deprived
OF his fathers counsels, would be une-
quail TO the task OF successfully mauas-
ing the vast interests which would then
become intrusted to his care. In point of
fact. Mr.. WILLIAM III. NANDERBILT has for
over three years had sole control ana
management of his fathers rail-
road affairs. The policy which now
obtains in tho management of the
New York Central and Hudson River Rail
road Is policy to which Mr.. WILLIAM ii.
Vanderbilt is rs strongly pledged and rs
firmly welded rs the Comm odore. In
deed, he tells us that he believes its coutin-
uance "vital TO the New York Central
and Hudson River Railroad Company,
The public mind has long been prepared
for the intelligence, at any moment, of
Commodore VANDERBILT death. Whether
this event be near or remote, we are as-
sured that it will in no manner Affect the
management Of the New York Central and
Hudson River Railroad Company.
We could wish that Mr.. WILLIAM ii.
Vanderbilt in his letter had given US
some idea of the increased business Of the
road. Few of our readers are aware of the
enormous local traffic this company enjoys.
This traffic is in no manner affected by
ordinary rules or rates governing through
business. For miles and miles the Central
ROAD passes through almost Il continuous
village. II Is well known, however, that
this company protects its local interests,
ana whore local traiio is affected in any
manner by through business the rates are
adjusted lJI the benefit Of tic local ship