Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1883-01-19
NEW RAILROAD.
Progress ANA Prospects Of the Nork-Ex
Pected Tonnage of the Roa0-Organi-
zIIiOn Foe 1888.

Progress ANA Prospects OF the Work-Ex
Pected Tonnage of the Road-Organi-
ztIiOn Foe 1888.
ihe annual report Of Robert Crane,
president OF the Delaware River and Lam
caster railroad, has been submitted TO the
stockholders He confirms the previously
published statement that a contract has
been made with Lamar, Walker & Co., of
New ork. for that portion of the road
between Lancaster and Pbmnxville, a
distance Of forty seven miles, they
to furnish all material, do all the
excavation, masonry, bridging, ballasting,
lay the tracks with approved fish plates,
ouiid water, passenger and freight stations,
turn taeles, frogs, cattle guards, ballast
between ties, public and private read
CROSSINGS, and complete the same with
steel rails on main track of approved L
pattern, 56 pounds to the yard in good
wOrkmanilke manner so as to make a fist
class railroad, and complete the same in
~ mon rs, ard to receive in payment, per
mile therefore, about SEQ, 900 in
bonds, and about $2l.5OO in the
capital stock of said railroad
company at par, leaving the company to
procure the right OF way, and pay for en
glneering and other necessary expenses
during the progress of the work, and
when completed, to raise the money on
the securities of the company, in order to
purchase tbs rolling stock and equip the
road. The reason that he cannot give the
exact cost per mile that there is in Con-
temptation the purchase Of some sevel
miles OF road east of Springfield, and iG
lieu of wood, adopting iron bridges,
which will chinge the result Of the est-
mated cost per mile.
The settlement of right of way has
progressed favorably since the date OF
contract, and about two thirds of the road
between PhenixvlIe and Lauca,ter has
been secured under must favorable terms
and conditions, and the engineers have
completed the location of the revised line,
and done some stalking cut, aud are now
ready Tor the contractors to commence
work at different points On the line And
Oh the 2Oth of December, 1889, Some of
the engineers wished a vacation over the
holidays, and as the ground was so much
frozen as to prevent tire driving of stakes,
work was suspended.
Mr.. Stone and one assistant continued
taking the torog' Apply OF the country along
the line.
The work has been accomplished at IA
cost of about S.. 900, and as the ng;neers
have to be paid monthly in cash, it is
that assessment No. 9, on
the stockholders, be made at once, and
monthly thereafter if necessary, to meet
The wants of the company, in the prose-
cutlon OF the work to an early completion
In pursuance Of the instruct ms of the
board of directors, mortgage of So, 000,-
900 was executed TO Aug. T. Post, of
New York, and Hugh NJ. North, of Col
nmbia, as trustees, to secure the issue of a
like amount of per cent. 80 year coupon
bonds interest payable of the 1st day of
July and January, of each and every year,
from the LIST day of January, 1888 the
bondholders having the privilege at any
lime within 10 years of exchanging the |
bonds for the capital stock of said com
pany, dollar for dollar. The mortgage |
has been prepared, executed and recorded |
N the counties of Lancaster, Berks, |
Chester, Montgomery and Bucks, those |
being all the counties through which the
'oad passes. The bonds OF $4,000 900 !
nave been Autographed at cost of $500
The old mortgage for cancellation has |
'een placed in the hauds of Solicitor E. d. !
North, esq, for attention, and the old |
bonds, $i0O, 600, which was signed by the
orrcer president, W. G. Case, esq, and |
he present treasurer, DR.. Henry Carpen-
er, have all baen secured, and are now in
he hands of the company, subject to tI,sir
rider.
Bradstreet's report say S they understand
hat the CONTRACTORS have already closed
eSOtations for steel rails (tO weigh 2 $40
BIS. per tOn) at :. cost of $42 per ton, to
. delivered at three points on the line of
Dad. Also that negotiations are pending
or three locomotives, ties, switches,
pixies, turntables, frogs, and other neces-
ary supplies. Anticipate having the
Dad completed ready for equipment by
.pril 1, 1884.
Estimated ecejpts from various sources
re-, tonnage per annum: