Litchfield enquirer., 1878-03-14
The New York and New England
 Railroad.

A project of the greatest importancssto the people of Western Connecticut, and which has been lying in abeyance since the crash of '73, is the completion of the New York and New England railroad from Waterbury west to the Hudson River This railroad consists in part of the old Hartford, Providence.& Fishkill, and is already completed from Boston through Providence, Willimantic aud Hartford 275 miles, to Waterbury. From that place west there is an uncompleted line of seventy miles on which has already been expended the sum of $3, 200, 900, and for the completion of which another two millions is needed The whole length of the completed road will then be 345 miles.
 The State of Massachusetts now has three million dollars invested in the stock of this railroad, and the following proposition is made by it's managers for obtaining money to finish the road and, in return, to ensure that state payment of the interest on the sum they have already invested. There is an existing indebt- edness of about $4 GOO, 900 due from the pres ent companies which own the line. The man. agers therefore offer the State of Massachu- sets first mortgage on the whole road, with guarantee of interest on their three millions ai- ready invested, provided the State will issue their bonds to the amount of six millions. the proceeds of four of which are tobeused to extin- guish existing indebtedness while the remain ing two millions is to complete the road to the Hudson river The gross receipts of the road now finished are about two millions; the net receipts, $400, 900; and the business has been steadily increasing--that on the eastern DOT tion (the New York and New England prop er) rising from less than $700, 900 in '72 to over a million in TT.
 On Friday last, says the Hartford Courant, a committee from the Massachusetts legisla- ture, with officers of the New York and New England railroad company, passed through that city going on to Waterbury and beyond, for examination of the road in operation and also of the portion uncompleted We may ex- pect speedy decision of this important mat ter, therefore, by the legislature of Massachu- sets. While we could hardly expect them to loan SO large an amount for the completion of a railroad outside their own boundaries under ordinary circumstances, there would seem to be very strong hopes of their granting the aid requested under the peculiar circumstances of the present case. They already have three millions invested in stock that is paying them nothing. If they accede to the proposition of the company, they will have as security for it's performance first mortgage on completed road 345 5miles inlength, whose construction will have cost at least twenty millions in cash, and whose net yearly earnings, even in it's present uncompleted condition, exceed $4OO, 900. Viewed merely as business transaction, and without taking into consideration the incidental advantage expected from the completion of an- other trunk line from Boston to the Hudson river it would seem to be for the interest of the State of Massachusetts to accede tothis proposi- tion.
 The completion of this road would be of great advantage to Western Connecticut. Be- sides opening up the country between Water bury and Danbugy, it's western connection would bring down freights on coal, grain, and other needed supplies that now pay heavy tribute to the Housatonic and other roads which charge high rates for transportation The Derby road would certainly effect junc- tion by running few miles up the Housaton- ic river; and the Shepaug railroad would be furnished new and vastly better base of op- erations, with easy access southerly to New Haven, and easterly to Waterbury and Hart ford. We earnestly hope this project is near completion at last. The millions already in- vested in grading double track road bed west from Waterbury, have lain idle long enough, and we are confident that the enterprise must soon force its way to completion even if the State of Massachusetts should not grant the aid now confidently expected.