The Jersey City news., 1892-02-12

acres ana nave an aSSesSaOle Vhlue VI
81, ,056,S40. On the south side of the main
steps 100 feet west of Van Worst street in
the centre line of jersey avenue, are
73 S02 acres more, which are assessed at
$l,29l, ,535. Between line about l6O teet
west of he west line of Van Worst street
to the West Line grant there are twenty
five more acres, which are assessed at
$3.50, O,000 Piers 1 to s, inclusive, are as
sessed for .S20, and there IS other
taxable property IN the Jersey CITY tax
ing district amounting in all TO S4,o'o,so9.
In the Bayonne taxing district the same
company owns property assessed at SoOo,-
81. The Newark and New York branch
of the Central also has i'll Lafayette $2,7o3
worth of taxable property.
The Constable Hook branch Is assessed
for $762 in the Bayonne district. In addi-
tion TO the property named, the company
has been constantly improving Its lines
and increasing its width, SO that at the
present time the assessable value Is
probably half million dollars more than
it was six months ago. The greater part
of the increase In valuation comes from
the erection of the new depot and train
shed, which was erected at q cost Oh hal1
million of dollars, exclusive OF the nee
essary track elevations and road
grading.
JERSEY CITY TERMINAL.
The Jersey City Terminal Railway
Company, which is virtually the Lehlgn
Valley Railway Company, has in Hudson
county 1887 miles of tracks in operation,
not including the hundreds OF miles laid
but not as yet in use.
From the centre line of Washington
street to the line Of solid filling the COM
pany owns II. IS acres, which Is assessed
for $462, 600. Adjoining this property is
another tract measuring 3. l6 acres, whlch
has an assessable value OF $l26, 400. Land
outside the main stem, from the centre
no or eh n atroet the centre
line of Jersey avenue, including land un-
der water. constitutes 35. Is acres. assessed
for $2S1 040. On the south side OF Jersey
avenue, including meadows, there are
1922 acres, assessed at $l63, 800. In COLI
nection with the above described prop
erty the company is making arrange
ments to construct five piers with
bulkheads. The assessable value OF this
company's property in the Jersey City
taxing district is ST. 1861 $685.
MORRIS CANAL COMPANY.
The Morris Canal and Banking Com
pany, which is practically the Lehigh
Valley Railroad Company, has water-
way of 7.6 miles in Jersey City and 1.3
miles in the Kearny Township. the as
sessable value of which is $500, ,479.
While the Central and Lehigh Valley
Railroads were squabbling for every inch
of water near Communipaw and property
in South Cove, the Reading Road was
| making great strides toward securing an
outlet as near New York bay as possible.
The result of it's work was apparent
when tracks began to be laid from Phila-
delphia directly across the State, hnally
running through Middlesex county be-
tween Sewaren and Carteret. The new
outlet of the Keading will accordingly
be on the Kill Won Kull. The Com
pany's tracks are laid to the waters edge,
and would, perhaps. be in operation
within three months were it not for the
fact that the Central Railroad instituted
proceedings against the Reading, restrain
| ing it from crossing the former tracks
north of Sewaren.
PORT READING.
The new outlet of the Reading has
been named Port Reading. and as the
| company owns acres OF ground in the I'M
mediate vicinity, Port Reading promises
to become the greatest coal shipping
point near New York.
The trouble with the Central Railroad
will, owing to the com binatlon OF the
roads. be settled and anthracite coal will
| be stocked at Port Richmond in quanti-
| ties estimated at thousands of tons.
| 1t is believed by coal men that the es-
| tablishment of Port Reading will crush
Perth Amboy. the coal shipping point of
the Lehigh Valley. The new outlet Is
several miles nearer New York than
Perth Amboy, and the cost of transporta
| tion will be greatly reduced.
| AN lNEAHAUSIlBLE COAL SUffL1.
sThe basis upon which the Reading in
| tends making this scheme wonderfully
good paying Investment is simply this. !"
| said an official of the Central Railway
| Company. "Prior to the consummatlon
| of this deal the Reading had no
| outlet, and the Central Railroad
was deriving :. great revenue
| from freight. The Central people were
| receiving thirty-two cents tonnage on coal,
| and this was rapidly eating up the profits
of the Reading. The Reading had no
| alternative. 1t was compelled to use the
| Central, and when it is known that the
| tonnage of the Reading from it's mines to
| Philadelphia alone, is greater than that
| of all the trunk lines from Chicago east,
the revenue the Central was deriving can
| be imagined.
"Tne water front owned by the Cen
| tral Railroad is invaluable. The COM
pany owns too much water front for its
| own use, but now that this combination
| has been made with the Central ADDED to
that owned by the Lehigh, the Reading
| will control nearly three and one half
| miles of water front exclusive of Port
Reading on the Kill Won Kull.
1.-The Reading owns the most extensive
coal fields in the world, and it has possess
| sion of enough coal. yet to be mined, to
supply the demands of the entire world
| for at least one hundred years. Their
| mines, now increased as they are by the
| Central's and Lehigh Valleys. and prob
| ably by the Delaware, Lackawanna and
| Westerns will give a supply that is SIM
| ply inexhaustible.
"The Reading will control the anthra-
cite trade and it will also have its own
| share of the bituminous situation. The
| deal is merely to control the freight
traffic and not the passenger traffic. In
| all probability the wars beJweensrailroads
are at an end"
| CounseIlors w Fl and C. Corbin de-
! clined 10 discuss the situation, inasmuch
| as they are familiar only with the legal
proceedings of the Lehigh Valley Rail
! road.