The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-02-13
HUDSON WATER FRONT.
Facts of Interest in ConneC-
nection With the Big
Railroad Deal.
FROM THE GAP TO THE KILLS.
Who Holds the Property at Present
and Changes That May Come
"A Boom for Real
Estate.
FROM THE GAP TO THE KILLS.

has caused an activity in stocks through
out this country and England such as has
never been known. Brokers and specu-
lators the world over are buying Heading
stocks, and as a result these securities
are jumping upward. Spectators and
stockholders are happy. but the general
prediction is that in few months the
great anthracite coal monopoly will
show its hand, and then will begin
The squeeze upon coal consumers.
Counsellor Bacot informed me yesterday
that he had been told by large real es-
tate owner that the com bination of the
railroads in Hudson county would have
tendency to depreciate the value of the
water front property, and also the value
of property in all parts Of the county.
Counsellor Bacot disagreed with his in.
formant, however, firmly believing that
the utilization Of every available inch of
water front by such wealthy corporations
as the Reading and Pennsylvania would
have the almost immediate effect of en-
hancing the value of real estate in Hud-
son county.
The combination Of the Central and
Lehigh Valley Railroads with Reading
gives tho latter the greatest extent of
water front within the vicinity of New
York.
CHANGE ON THE CENTRAL.
The Central Railroad, prior to the con-
solidation, owned, next to the Pennsyl-
vania Railroad Company, the greatest ex-
tent of water front in the county. The
Central's front is valuable one. In
1883, when the Central went into the
hands Of a Receiver, it was feared that
management changed hands, and what
people in general now call the Central
Railroad of New Jersey is in reality the
American Dock Improvement Company.
At that time the Central Railroad, under
State grant had a water front adioin
ing and including the front on which the
ferries are located of more than $3.50 feet.
or about mile. Adjoining this came
the grant of the American Dock Improve
ment Company. which measured another
mile all but about 700 feet
With this invaluable water front and
acres of available ground in the rear of
it, part solid and part under water, the rail-
road company was started on what has
proved prosperous journey. Below the
point where the ferries are located and
within one mile of Constable Point, the
Central road also possessed another tract
of water front 500 feet long.
The company was still creeping when
these extensive acquisitions were made.
and with view to placing the company
on better financial basis a strip of land
having frontage of 200 feet, included
within the American Dock improvement
Company grant, was sold to the National
Storage Company for an enormous
figure.
OTHER ACQUISITIONS.
The company then acquired another
piece of frontage measuring 1900 feet,
which adjoined the American Dock I'M
provement Compapy's grant and the
John A. Blair grant, which runs
off from Cavan point. The company,
after establishing better terminal facilities
began constructing coal piers on its
lands near Constable Hook, and today
this point is their chief coal output. The
mense coal piers adjoining the passenger
depot, and from this point thousands of
tons of coal are shipped to other points.
At this period the outlet of the Lehigh
Valley was at Perth Amboy. Judge Asa
Packer of the Lehigh Company, realizing
Perth Amboy, entered into con-
tract with the Central Rail
road to deliver Lehigh coal over
the Central tracks. For few years this
plan operated smoothly enough, but a
misunderstanding arising between Judge
Judge began his famous fight to secure
for the Lehigh Valley a terminal In Jer-
sey City and a water front. He tried
many ways, but all failed. Finally he hit
upon plan which. although causing ten
years of litigation, finally resulted In vic
tory.
THE MORRIS CANAL LEASE.
Mr.. Packer, for the Lehigh Valley
Company, leased the entire Morris Canal
and Banking Company's property. The
Morris Canal and Banking Company had
use of the tide water basin which was
about one hundred and fifty feet wide
where it emptied into the Hudson River.
Adjourning the tide water basin dock
and between it and the lands owned by
the Central Railroad Company, was
State grant to the New Jersey West Line
Railroad Company. which had frontage
of 200 feet.
Mr.. Packers next move was to secure
that piece of frontage and he brought the
matter into the courts on the ground that
the State had no right to grant to any
company such piece OF property. which
adioined uplands and lands under water
owned by another company. Such was
the case, he contended, with the Morris
Canal and Banking Company, and on the
grounds that the grant was properly the
property Of the latter company, he tested
the case.
oENTRAL's NEXT MOVE.
The Central Railroad, with view to
shutting out its new rival, laid claim to
the land and sought the aid of John G. Van
Horne, who also owned uplands adjoining
the grant on the mouth of Mill Creek.
For ten years the matter was fought in
the Courts, and in the meantime MIR.
Packer had informed the Ceptral people
that he would buiid line diagonal with
them, and before his death he carried
his threat into execution. The case was
a famous one, but was finally settled out
side the Courts. The settlement was a
victory for Mr.. Packer, but he died be-
fore he had fully won the fight, which
gave the Lehigh Valley Railroad its 200
feet of frontage on the Hudson River,
near Communipaw. His successors are
now enjoying the results of his labors.
After the fight the two companies be
came the most bitter foes, and many of
the battles for lands in the South Cove
were chronicled in yesterdays JERSEY
Cry NEWS The successors OF Mr.. Packer,
raalizinp that the Morris Canal was USE
less TO them, succeeded Two years ago in
nassing an act which permitted them to.
throw over the right and powers which
prior TO that time compelled them to
operate the canal.
WHARvES AT BAYoNNE.
Since acquiring the 300 feet frontage
reor Communipaw, the Lehigh Valley
nfffcials. with Mr. Reon Barnes as land
agent. have succeeded in securing vaiu-
able frontage opposite Bayonne,
sdiolning the lands purchased a
few wears ago by the Pennsylvania
Railroad. The I.ehigh Valley Road will
srect coal wharves at this point and have
an outlet which will compare favorably