Connecticut western news., 1879-07-09
PouRhkeepsie,s Big Bridge.
REoRGANIzATIoN AND EXPANSION OF THE EN-
 TERPRIsE.

REORGANIZATION AND EXPANSION OF THE EN-
 TERPRIsE
 For some time past we have had very little to say about our great enterprise of bridging the city at Poughkeepsie, because any of our readers could see that the work was not in active progress, and neither we nor the off, cers of the company cared to make any state ment until there was reason to expect that work would be resumed. During the inter- val MT. Stone the president, and his asso- ciates, have not been idle, but negotiations have been going on for the purpose of'sup- plying necessary funds, and though these have been less rapid than might have been wished, there has been constant encourage ment and confidence ln ultimate success. The details are of course confidential, but the plan has taken form so far that it has been decided to increase the capital stock to four millions, and parties are interested who are convinced that it will pay fair dividends on this amount, and who propose to subscribe and pay for the same in full, thus putting the company at once in a position to go right on and complete the str ucture. At the meeting of the direct ors held in New Y York on Friday last the nec- essary resolutions for such an increase were adopted, in accordance with the terms of the charter, and circulars will be sent in day or two to the stockholders asking their consent. The new stockholders will come into the con- every advantage that the former will receive will also be open to the latter, who comply with the terms of their subscriptions.
 On the same day conference was held be. tween the incorporators of two companies which had been previously formed for the purpose of building road westward from the bridge. Some gentlemen of this city filed ar. ticles of incorporation and had surveys made for road from here to Gardiner, on the Wal kill Valley Railroad, under the name of the s.Poughkeepsie Grand Junction Railroad Com pany," their object being simply to secure in the shortest possible distance, westward connection. Since they did so Col Albright, Cox Brothers, MT. Leisinring and other own CTS of coal property in and near Whitehaven, Penn, have become convinced of the import ouC0 O1 SCCuEIuS 4OuIO A1OAA OAlOh AAAAANo OO the bridge end have formed another organiz- ation for the purpose of building from White haven to Gardiner, crossing the Delaware and the State line near Port Jervis, aud necessa- rily also crossing the Erie and the Midland, and thus furnishing connections with all the different lines to the West and South, their company in this State taking the name ''state Line and Eastern Railroad Company" The result of the conference between these two com panies was their consolidation, the new company being called the "Poughkeepsie Grand Junction Railroad Company" and the directors on this end being George P. Pelton, Hudson Taylor, George Innis, Aaron Innis, o. H. Booth and A. B. Stone. A contract has also been made with A. F. Beach & Co.,, of BaIlston Spa, who are wel-known railroad builders, for the construction of the whole line, work to be begun immediately upon re- ceiving notice of the resumption of work on the bridge. ge.-PowghkesPsie Eagle, June r.