, 1877-03-07
THE ERIE RAILWAY.

The reports from Engfand Indicate speedy
reconstruction Of the Eric Railway Company.
Tho programme, as submitted to tic share and
bond holdee, seems TO hare been oeccptetl, as
dcaltag fa!sly with atl parties tntercstcl, and,
therefore, tho announcement that holders Of
nearly or quite one-half OF thc bonds, m which
there has bccti default Of Interest, have EtTcn
thrsr assent TO tho provisions of tie
plan for reconstruction, u,ny BE- taken
rs evidence Of the speedy putting this
Company, In Its rcorgan'zo0 state, on
its feet. To make The rcorganfzcd Company
a success, II Is acknowledged that large amount
Of money must be expended OH Its lines OF
roads and In ncw equipment, and to secure this,
Ia addition to tho tnoueys derived from fund
Ing the coupons, MI assessment Ut 60
per share I,as lccn Inserted a. part nf tho plan
OF reconstruction. II this assessment Is pail
on the total share capital II wilt give fund
Of about e;,oo0,0N. Tie largest amount Of
ouoy that car be secured from all sos,recs for
the improvement Of thr line will barcly sufltc
TO place the Company T., n G'ol way to !nakc
tuoucy, mud thcrefty IN ti0ic sectre road anu
equipment ful)y equal to it, rivals.
The merchants mud capitalists Of the City OF
Now York do not seem 10 appreciate how MUCH
tllcir interests defInl on the cs'nlitlon ot tho
yantsees and profits may be secured to them II
that Cunpany IL enabled to put ttf line III cap-
tnl order. lay !ss third rsfi, ret good equipment,
and geueraIy bo PLACED In condition where It
I a. aiy ny otier ne. in TSey Should Understand tiat
| It IL tht on1y limo Of RAILWAY that. Is wholly
In the interests OF the CITY Of Now York
The New York centra, ~ has tts tw9
il i quite as much, t not ,nore :n thS interests
Ut New England nj In ttitnc Of Now York City,
| and, consequently, IL managed In accordance
With ~ Interests. The ,pennss!.an!a Ka!lsssd
mud Baltimorr, aud wilt manage Its business
But tho Erie lsatlway Company is copilnod to
| the City Of New York ~ Its only seaport tity,
company md render att the MD n'gutrel to en-
! ab1r It the mort fully to accommodate tho
trattlc anil travel between tho City Of New York
Tho control Of tl,s Company. t ts acknow1.
edged. has passsl from questionable hands into
those Of men of Hugh character Rn! trli0 ability,
and there - no renson icf. why this camrnny
business men, property y-ioldcrs, and capitalists
| Of New York City hhouia understand TINT
every ton Of freight and every sassenEpt that Is
carried nrer lhc other lines, to or from tho
ul'!iity Of tIos1 companies u all tic Cities of
| Boston, Philadelphia, aMl DsltiEnorc. and no
much takrn froIn thu ability of tho Eric Com
If4ny % render IT. best servise to TIM City Of
|
It IL astonishing that, With 10 much written.
printed, aud talked abunt tho losa Of commerce
| tn tho City Of Now York, ths eyes ot Its Chcap
[ Transportation s.cIety, wttlits .nnny menbers,
have tot seen in tho Eric lkaIlwny tic tost and
oniy chance to realixe1 u nearly ~ possible.
/ their wttiIes.
Tie New York papers ara quite full Of plans
for reducing cost ot handling gran etr., In their
harbor. Yet they lave not discovered that II
| the Ere Railway Company was pat tn prime
order, with nHrFuw.gaitEe aud either rtquircll Ia
cIlttivs Oh tts lie that 1t would nay to placH on
| t.s l4ong Dock property storage houses, KsR!n
elevators, anu all the required machinery to re-
DUO tho cost OF handling gtain, ETC.. 10 a low
figures II 10 now done IN the harbors OF Fhila-
| duDphla and Baltimore,
Thta subject Is recommended to tho conaitl.
osattun and exan,Inatton Of tic people If New
| York City. II they are wise they cnu secure,
unltr tlIeIr exclusive Influence. tho very pfst
cunncctions with the WesL through the Erie
Hallway Cosnpany. They rali flsthGr neutraaize
| tho Advantages that other rltles now llavc over
New York. What t.toge ca1l thay drslret The
| Eric Hallway Cutnpany requires money to e,la~
bic II IL perform tbia servke. Let tho ner-
chants and capitalists Of the Git Of New York
stop kr,tmblihg and sculdlnR and 20 to work.
furnish the money needed, and there wilt be no
ground tor tAesr complaints.