The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-21
Mr.. TILDEN'S RAILROAD SCHEMES.

HIS FRIEND MR.. JORDAN REPORTS IN FAVOR
OF THE ROUTE BETWEEN MIDDLETowS AND
GREENWOOD LAKE-THE HUDSON CONNECT
ING ROAD.
Although Mr.. Conrad n Jordan would not
acknowledge yesterday that his recent trip to
anime the route between Greenwood Lake and
Middletown had been made in tho interest Of Mr..
Tidens proposed trunk line to the West it was
stated good authority that his report his chief
favorable. ana that conference held yester
day. at which Mr.. Jordan. chairman of the Oswego
Midland Committee of Reorganization ana presi-
dent OF the Hudson connecting road. met Mr. Henry
Amy, the banker; Mr. Theodore Houston. Secretary
of the Oswego Midland Railroad Company. and
Abram S. Hewitt, President of the New York and
Greenwood Lake road The result of this confer
ence was not made known. but it was understood
that the meeting was i'll reference to Mr.. Jordan's
trip. When questioned about the excursion. Mr..
Jordan smiled mysterously and went so far as to
say that somebody must have been impersonating
him in that railroad trip" He was dumb
oyster in regard to the plans OF the Oswego Midland
Company after the road shall have been reorganzed.
In regard to Mr. Jorlan's report gentleman well
known in Wall street said-''There is doubt that
it will be favorable. although Mr.. Tilden knew its
value very well from personal examination before
Mr. Jordan and his associates started. The line pro.
posed to be built will be comparatively inexpensive
and will 20 direct through country that yields
large milk traffic. The milk traffic. need not tell
you affords the most profitable sort of earnings n
railroad. Why. the Erie finds it pays better to carry
a cargo of milk from Goshen to New York than four
cargoes Of wheat from Chicago to New York. The
route to Orange county, to connect with
the Oswego Midland at near Middletown.
was originally planned for the Oswego Mid
land, but the company failed to carry it out |
Ow d consequence
always been crippled. You with that connection
there would be a through line from New York Bay |
to Lake Ontario with $50 miles Of branch road built
toward connecting with the Great Western and |
Grand Trunk system OF roads over the Lewiston
Bridge.
WHAT THE NEW CENTRAL COULD AFFORD.
A broker said he had been told by parties in in
OF the New York Central to buy up tho Oswego |
Midland and large stakeholder had expressed the
opinion that the former would probably ofier sufi
road. 1.-THE New York Central, continued the
broker. could well afford to buy the Oswego
Midland by paying u handsome sum in order to |
secure double entrance to New York Bay, their
present terminus uptown is divorced from the bust
part of the city and from their goods, which
stored in warehouses in New York Brooklyn. |
Their policy hitherto has been the building of ele-
yators to afford an nducement to others to build |
warehouses about their uptown terminus; but they
labor under the disadvantage OF being the river
side where ice gathers in winter, making it I'M
Besides, in front of the elevators is
ledge OF rocks. dangerous for vessels at
should use the Oswego Midland for foothold on
the New Jersey side they would have there aeep
warehouses and would also be where they could in
terchange with all the railroads running south and
without as IS. now having sar Nor freight
Central would have not only a. double en-
trance to the harbor, but would, have this
certain benefits from this city and re-
fused it would largely develop its New Jersey ter
minus, and If the refusal OF benefits in the of
New Jersey were made the fear that the New York
Central would make all its developments in this |
city. would really give the road all it wanted should
fer satisfactory alliance with the New York Central
provided he could make handsome profit on his in
strong oppositson to the New York Central
Mr.. W. S. Dunn. Of II. b. Clafin Co.. is largely
interested in Oswego Midland. 'fhe reorganization
of the road Will not take place until january l." he
said "Under these circumstances there could not
think myself that the road will either be used as
part of new trunk line to the West or sold to the
New York Central. for don't suppose that Erie is
particularly interested in it, Erie Is too poor. and
Desides the Oswego Midland would not be especially
advantageous to Them as part OF their road"
VALUABLE CHARTER
A prominent banker related TO the reporter Mr.
Tudens purposes in regard to the Hudson Connect
ing road. which is important factor in his pro-
no said at found that u. Z. Culver had secured
from the New Jersey Legislature charter tor the
Hudson Connecting Road Company, comforting the
right to condemn land. build railroads and
connect them with every other warehouse
other railroad in Hudson county and charge
ten cents a head mile for passengers and
ten cents ton mile for freight. how Mr.. Tilden
quietly proceeded to get possession OF the Hudson
Connecting securities aud stuck to 1t until he pos
sessed q majority of the first mortgage bonds and
stocks. Cyrus W. Field. suspecting what was gong
on, bought in nearly 100000 of the securities and
all the securities are now carried by Mr.. Tilden.
Mr. Field and an enterprising young Jerseyman,
William o. Mcdowell The estimates showed that
an annual saving OF $5O.0O0.tOo IN the hand
ling Of the merchandise OF the port OF New
York could be made by having vessels all
land at the warehouse on the Jersey Shore
and deliver goods and receive return cargoes i'm
mediately from vessel to warehouse and from ware
house to In this way there would be saving
OF all lghterage and carriage charges in the port 1t
was also estimated that the cost of all the necessary
improvements would not exceed S25 100000 and that
the profits from investments would be as handsome
the present profits OF the elevated roads. Whic
litigation in progress IN regard to breaking
the lease OF the Hudson Connecting road to
the New Jersey Midland Midland. , both Mr. Mr.. Ti!den
much interested building the elevated
roads. The same plan, however, carried out now.
having in addition to the roads along the terminus
at the New Jersey shore the possible business OF the
New York Central at some point, would make that
pls CO what Liverpool is to London. and enable New
York on the question of economical terminal
CHARGES and facilities to offer advantages which the
rival ports of Boston. Philadelphia or Baltimore
could never give.
said the banker in conclusion, drought matters to
that pass where the control Of the company would
revert to the Hudson Connecting Company but In
order to secure this the company has had to buy
for themselves q large interest in the New Jersey
Midland road and they have placed tho president Of
the Hudson Connecting road. Mr. Conrad N Jordan,
I'm charge OF the reorgan iZation OF the Oswego Mid
land as chairman of the Purchasing Committee. At
the meeting last night of the committee represent
ing the bondhoders OF the reorganization OF the
New Jersey Midland certain changes were made. by
which the brother of one OF the most active men,
beers of the Oswego Midland committee made
chairman OF the purchasing committee OF the New
"A 1anhD