The New York herald., 1879-07-04
SALE OF A RAILROAD.

Mr.. VANDERBILT BUYS THE TROY AND BOSTON
ROAD AND SECURES FOB THE CENTRAL A
TERMINUS AT BOSTON.
IBY TELEGRAPH TO THE HERALD.1
Troy. N. Y, July 8, 1879.
William H. vanderbilts check received in this
city to-day for the sum of $125 900 in payment for
$500. a majority OF shares of the stock Of the
Troy and Boston Railroad Company. The purchase
was made from d. L. Vail, late treasurer of that
corporation. Mr. Vanderbilt will Immediately as
sumo the management of this route. which is forty
eight miles in length. extending from Troy to the
Hoosac Tunnel. The shares were purchased at half
their face value. Before the Hoosac Tunnel
completed this stock considered valueess Since
the great bore" has been finished the business of
this route has steadily increased Now the freight
traffic between sa ,y Troy and the bay. Bay state state
road in this country. upward of four hundred
moving both ways daily. The net profits from
earnings during the past year was published under
oath at $50.O0O. This looks ~ though Mr.. Wander
bilt had secured bonanza 1t is stated that the
management will double track the route and other
wise improve it. The greater portion of the freight
transported comes direct from the West and goes
from Buffalo to Troy over the New York Central
Hoosac Tunnel route. composed by the different
companies between Boston and St. Louis. each con-
tributing quota OF cars
REJOICING IN TROY.
The sale causes twofod rejoicing IN Troy. because
Mr. Vail the manager OF the Merchants
Mechanics Bank, OF that city. which failed last fall,
and 100000 lost to deposiors that had been in
vested in Troy and Boston stock. which Is doubled
in value by this transfer. and the laborng people
have better chance obtain their deposit funds. The
matter also creates interest because IL increases the
intensity of the railroad that has prevailed dur
ing the past year in this vicinity between the Erie
Railway, the Delaware and Hudson Canal Company
and $50 0OO. 900 OF Boston capital side, and
the. New York Central. the Boston and Albany aud
the Troy aud Boston Company on the other part.
The former parties have been constructing route
Troy to the Hoossc Tunnel. called the Boston,
Hoosac Tunnel and Western Railway. This Ii IN.
tended to give the Erie direct Eastern terminus
Boston. by using the Albany and Susquehanna route
route to the tunnel and the Fitchburg road ito Bos
ton and Now England. This would give the Erie
direct competition with the New York Central from
Buffalo aud the lakes to the East. The Boston cap-
talists have also commenced building road FROM
Boston to Greenfield, Mass where the State road Is
tady the Black River. parallel opposition the
New York Central. Hence the extent of the warfare
has become very marked and vigorous.
A VIGOROUS FIGHT.
There n q strong conflict in progress In the
courts over the matter with the advantage thus far
In favor of Erie and the Boston people. The latter
seem have plenty of funds. have expended upward
all completed to the Hoosac Tunnel. excepting
two miles, having paid all bills in cash
and issued stock. The new concern have
also procured 81 600 900 worth OF the must improved
rolling stock and now operating sixteen miles
of their road for local traffic between Troy and
two existing routes from Schenectady to Boston.
but the admission of the Erie to the tunnel forms
the basis of opposition. Aggressive movements of
Importance expected in a few days.