New-York tribune., 1884-01-16
GEN. WINsLOW ANSWERS MR.. WANDER
BILT.
HE DENIES THAT THE WEST SHORE WAS BUILT TC
BLACKMAIL THE CENTRAL

III, DENIES THAT THE WEST SHORE WAS BUILT TO
BLACKMAIL THE CENTRAL.
The New York, West Shore and Buffalo Rail
way opened it's line to Buffalo January l. II is nearly
parallel to tie Ncw-York Central Railroad and naturally
competitor for both through and local business In
an interview published in Ihe Times yesterday william II
Vanderbilt said that the road built merely 10 black
mail tn York Central that il had larger
bonded debt and that it would have TO take the whole
business the older road in order to pay It's fixed charges
In reply to the assertions thus made General l.. f. Wins
low president the North River Construction Company
which has built the West shore line, said yesterday:
'The statements Of Mr. Vanderbilt, reported in The
Ne,r- Y0rl to-day, full o. inaccuracies, For IL
stance he Is reported saying that the Equitable Lie
Insurance Company had lcn the West shore ma Ontario
Iermnal Company SGOOO,OOO. He ~ a shie~d business
of large experience ana must have kno|n that NO
one institution loans such "a l.tr4e upon any snlle
security The Terminal Company /, mainly real estate
corporation organic H. of course, all in the tan
6T.ne. % i moi tie iind.on RiJer No such loan WIS
made. Th.t the West shore Railway was bnlt for tie
Is ffaliy answered by the splendid character
Of the road and T cq1pmfnts; Ry us nehg carefully
and extensively iruIsLci WIN s,h 'Onpitt teIlhiha'
station ana other facilities, and by tue fact that
ged il for sae n tne pnrpo4e Of the pr,-
moters to blackmail why di Mr.. Vanderbilt sell TO
backuaingl IT'S AhcIs koid was DOght ior the sum
OF 100000 as stated by HIM, but u was then "A
GeGayed rails single and track was rO1a Wholly @ T Tceonsa
ted $50 far used, and in paris the line changed
whole made to high standard Of the otner
section of West Railway The grades upon that
twenty feet going east ana thirty toet go
ing west. The only heavy ., grades left
from the hh lands TO the Hudson River near Athens and
near schenectady and those two pieces are not used as
any part OF the main tracks OF the West Shore Railway.
q The uncOnstruced rOad having entirely new bridges
much masonry and wholly new tracks wi h al the
0GGs and stock OF the T" yanSeTbt s sad w6en
,t.. qnId IN H. IA III =
riraon az tbey were found 10 he entirely too weak
and dangerous for West shore T4ns and they
all taken down aud replaced viii n" bridges hIty per
When he says chat the Central Company
has only Sj2,OOO0OO OF bonded Indebtedness
he does not say that One-hai OF these bonds
bear seven per cent interest. while the West
bonds bear only five per cent He also omits TO
saw that the rentals and leases Of the Central Company
amount 10 S2,OO0,OOJ per annum, or five per cent
upon SI0,OOOO0O additional. AT hve per cent
Interest tbe liked charges OF the Central Company
represent a capital account of fully Sl00O00OO0. The
amount paid annually by the Central Company for
fixed cn-rges and dydcds Is $l4OOOoOo "lile tAe on
tire xed charges OF the West Shore, including terminals
WhIeV the statements OF the Central Company are
not 80 made show just what part OF the whole earn
incs are upon main line peween New-Iork and Lake
Tfie it is generally that this portion Of the Cen
trl Railroad earns about 2s O00O and 1t does look
though when superior and thOr0ughly constructed
railroad is in full operation divide the local aud
share in the through traffic t0 earn AT least Onotrd
of this gross amount. The Central Company has
vel had competitor for its trhc wnicn 80 located
is now In the field aud latcT will divide the
whole business on equal terms.
The slatements and efforts Of gentlemen Ike Mr. Van
dert affect the sales and prices OF Wost
Shore securities This only natural the projectors OF
this eIpected deprecstoy remarkh aud scons
but they would have affected the sltuatOn seriously
n IL were not for tho generally unayoraby condition or
the country, and because OF stagnant money Inc
promoters investors who have for hreo years devoted
their energies and capital 10 building the West shore Rail
way never did hs with the idea OF adding two other
tracks 10 those OF the Central Company but they honestly
intended To create new independent and rrstcass rail-
way so located and constructed US 10 haul trafnc at
the lowest rates and thus the public and oenenf
The state and City OF NewYork They have completed
the road Is no remains for the owners 70 control and
protect the property and realize these hopes. ="
understood that loan OF 600 on the proper
tie of the West shore and Ontario Terminal Company
was taken by large number OF Investors Among than
are the Mutual Life Insurance Company, the United
the Equitable Life Society the Mutual Beneht
Life Insurance Company, Of Newark; tho Manhattan