New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-12
RAILROAD PROJECTS.
PROPOSED RAILROAD Union.

| cured in part the charters of old corpora tons
but it is entirely new organization
chartered under the name Of the New-York
| Boston, Albany and Schenectady Railroad Com
| pany. Beginning at the Harlem River at the ter
minus of the Second Avenue Elevated Railroad the
line of the projected railroad extends to Danbury
Conn. then mp the Housatonic Valley along the line
of the HousatouIc Road to Lebanon Springs and
from there west to Albany and Schenectady, CON
Meeting there with the Delaware and Hudson Canal,
the Erie and the New-York Central systems. The
road will cross the river az Albany by
bridge which projected several
wears ago and the piers of which are already built
The entire line between this city and schenectady
will be new. The officers Of the COM
pany ares President, Erastus p. Carpen-
ter, FoxbOrough. Mass; vice president, JOHN
w. Van Valkenburg. Albany secretary, William
5. Carman, New-York and treasurer, Andrew V.
Stout, president of the Shoe and Leather National
Bank, New-York The directors are Thomas +.
Carhart. White Plains; Roger Averill, and
l.. p. Hoyt, president of the Danbury
National Bank. Danbury. Conn: John VI.
Tilford, New-Yorl Frederick Miles, Chapnville,
Conn; Townsend Fondey, Joseph Walter and E. L.
Taylor Albany Henry \. lilden. Lebanon Springs;
and Edward Crane, NewYork. The company
was formed on June 20 A contract
has been made with the New-JerSey Construction
Company for the immediIte building Of the road.
which is TO be completed under the terms of the
contract within one year. The new company will
issue 50, 200, 900 sto and SG,000,000 first mort
gage bonds, having forty years to run, at per
interest.
The building of this railroad il the first step in
scheme for the consolidation into one com
pany of the New-YOr1 and New-Eng-
land. the Connecticut Western, the Lebanon
Springs and the new company. The New-YOrk and
Ncv-EuglaGd Company, which succeeded under
foreclosure of the Berdell mortgage the Boston,
Hartford and Erie Company, owns lGes extending
from Boston to Waterbury, Conn. and through
Providence to Wllllmantic. and operates the Nor
wien and Worcester RIIlroad. and has leased
recently a road from Springfield to Hartford. 1t
formally acquired by purchase the Hartford and
F,sIkil Railroad agd the extension of this inc
from Waterbury toward FishNll IL now
under construction. The capital stock of
the company is S20, 1000 representing the
amount of the Berdeil mortgage, bl5 cuiy
SG,136,OOO Of The bonds have been exchanged for
stock. The company has placed upon the property
first mortgage, under which Sl000O,000 bonds
may be issued.
The Connecticut Western Railroad extends from
Hartford, through Wnsted and Canaan, 10 Miller
ion, ~ Y. distance of little more than sixty
! fOreClOG-
urc under the first mortgage the bonds ssued under
it amounting to about S32j0 900. The Lebanon
Springs RailroaG, known as the Harlem Extension.
mas been bought by the bohdholders under forcclos
ne, OF the first mort gage. amounting to about
=, 900 900. The road extends from Chatham Four
Corners. n Y, 10 Bennin gton W., distance of
fftyeight miles.
These roads, together with the projected line |
from NewY0rk to Schenectady, it is proposed now |.
to consolidate into one corporation, 70 be |
known a. the Ney-York, Boston and Albany |
Railroad Company. stock of the consolidated com |
pany will be- issued at par for the following securi-
ties Of the other companies: Boston, Hartford /
and Ere bonds, issued under the Berdell |
mortgage and Aew-York and New-Engand |
stock, into which the Berdell bonds.
under the reorsan zation. are convertible
Connecticut Western first mortgage bonds Harlem
Extension lrst NOR gage bonds, and the stock of
-he new company, the New-Yoik, Blston
Albany aud Schenectady stock. For the
exchange OF these securities tho Farm
RS Loan and Trust COMPANY has been made
rustre under trust deed dated July >. When
raj Jutr OF the securities has been deposited
with ,ne Trust Company, which will issue its
d tde DE! hat three trustees sh al pro-
'ced 10 organz' the consolidated company
% thc Interest or the certli.c?ie-noiderS heSe
rustees are ". 4. VIII ock president of The Central
National Bunk; A. V. Stout, president Of the Shoe
ud Leather National Bank and George stark
'anker, formerly yIce-presdent Of the Northern
iHc II, Railroad Company.
Ii * claimed by friends of the proposed CONSOLE ,
alto. thai the company wall possess great adyan-
ages over existing lines The line between
,-w-YorIS and Boston will be- 1t IS said.
lightly snorter than the New-liaven or Bos-
on aud Albany routes Between Boston and
LIBanV u Will be abOut twentl five niles LONGER
nd between New-York and Albany about hftren I
liie7 longer taau by the present routes The
lerIOn Oi the new line 20 Albany and Schenectady O.
MI give a peculiar al yantag" 10 the con- O
dictated con pany. because the line between Dan .
ury and Canaan on the Connecticut Western Road -
NJ complete triangle, Of which the points l
ill be Hartford, Danbury and canaan. II
rams gong north VIII be divided at
'inbury for Albany and for Boston; those going "
'est from Boston viii be divided nc Hartford ana V
"a divided at Canaan for Boston aud fer u
cw-Iork. The connection at Lebanon e.
brings with the Harlem Extension Road will | ri
1ord an indeDendent outlet 10 New York to the p
ermOnt Railroad aud to the Grand Trunk Railway Il
Canada. 1t is understood that the latter com il
any favOrs the pre- Iect but has no direct interest
IT, The distance from New York 10 Mon
eal would be by. this route longer than the
resent lines only by the difference In distance
wren Ncw-York and Albany by the new line
IOut fifteen miles. u
vt the New-iork terminus of the proposed road, ei
eyaied 4.ailroad. Freight will be delivered nj q,
pot will be established, if the plan
d SecOud-avc. The Of the project Is said de
depend entirely upon the action If the holders az
the securities Of the separate organizations.
1eDds OF the scheme of consolidation express con-
lence IN the tuihimeut Of their plans. DC
RAPID TRANSIT ROUTES IN BROOKLYN.
/ be Rapid Transit Commission. which has re-
ntly been in session in brooklyn, has finished ITS DR.
,rk far as II related to selecting routes. The ey
mmisSion has reported the following routes :
ginning IN Waier-st. at the Fulton Ferry across to-
id OF the New York aud Brooklyn Bridge; over and ca
ross Dock and Front-st+., through prop
y Of the New-York and Brooklyn Bridge .o
er and across Mcrcem, Garrison. York Dir
im, Prospect and WIsliB gtOn-sts., through ! co
vat property; over Sands-st., through
q, along AGams-st. 10 Fniton-sr. 10 the line be-
cen Brooalyn and New Lots; from Myrtle-ave' sti
n NJ u nn ~