New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-21
CENTRAL REACHING OUT.
A NEW LINE TO MONTREAL PRONlDED roh

IMPORTANT STEPS TO BE RATIFIED AT SPECIAL
MEETINGS OF STOCKHOLDERS.
-Four important special meetings o! the New'forR
Central and Hudson River Railroad Company STOCK
holders were called yesterday TO meet at Albany OF
April 10, Immediately following the regular arnuai
meeting when Is chilled for noon OH that day. Ihey
for the purpose OF approving the acuoh oi 'ne
directors in acquiring the control OF the New iorh
and Northern and a. approve the making D! Tue zen
trai OF leas. OF the railroad 10 ITSELF as wen as u
approve the leasing Of the Mohawk and Maohe. the
Gouverneur and Oswestch'e and the carthage ah"
Adirondack railroads.
f. u. Worcester the secretary OF the New
Central yesterday made public the terms by which
the NewIOrk Central gets control OF the New>orK ana
Northern. II was obtnined Nv the purchase OF con
trolling interest In the stock and bonds for about
"a, OO0 0O0
The Ncw.York Central has issued circular e1-
planning the nature OF the purchase ana the COMMUNION
OF the property. 1t Is as follows:
"Thc New. York and Northern Railway extends from
One hundred and ny ffthst. In the city OF Hewio'n
occupying a line practically midway between this com
pany's Hudson River division and its Harlem diViSoh
to Brewsers on the line OF the latter. distance Oh
about sixty miles. 1t has n fine bridge across 'he
Harlem River and has. within the bounds OF the city
OF New.York. eight miles Of 1O0foot roadway ana
II owns thirty.two acres OF terminal property. also
within the bounds OF the city.
"TO acquire control OF II Will cost this company
about 81. O0OO0. and agreements In respect tneieo'
have been entered into subject OF approval. IL Il
proposed after the control Is acquired to enter INTO
n lease with the present company, or perhaps WIN |"
company TO be organized I'm Its stead under when
this company will guarantee the principal and interest
OF s. 600 900 In per cent I00year gold bonds. VI
this amount 900 will represent the cost OF con
troll rs above stated and 81 100000 VIII DO reservoir
for developing. improving and lettering the ih'''
The leases OF the Mohawk and Malone, the Gonver'
ncur and oswecatchIe and the Carthage and Adiron
dack are all practically perpetual All three roads are
complementary to the Rome. wateriown and og'ens-
burg SYSTEM which the Central already operates un-
der lease.
The Mohawk and Malone Railway runs from Her
Nmcr on the New York Crntral's line. norherly 70
Malone In Franklin County with branches to Saranac
village In the same county, TO Cranberry LAKE. IN
81 Lawrence County and 10 the village OF Northwood.
IN the County OF IIerkimcr the Who'll" length be'hs
about III miles II traverscs centrally the Adiroh'
dock region From Malone northcrly connection IS
made crossing the ST. Lawrence River Mt COteaM ana
going into Montreal the Grand Trunk RAILWAY
thus giving the New York Central new ana ihue'
pendent line 10 that place The terms OF IN" teas"
are: That all the capital stock shall b" gwen 10 IN"
Central: that Il shall guarantee the principal ana IN
tcrcst Of 800 900 IN per cent 100 year goid pohds'
and that the present owners Of the property shall BE-
,crm,ttcd 70 Issue and retain - 900 900 In noncumu-
Ia,ive : per cent IOO.vear ircome bonds. Tile maxi
mum liability Of tho Central viii he s.Oocoo ana all
the No, revenue from the line In excess oil S2ooVo
will belong TO II.
The Gouvern.,ir and oswcga'chie Railroad ru"S
from Gonvcrneur. the Rome Wa'"r'owh ana Oe
,,urc Railroad TO the village Of Nwards. both In
:, Lawrence County with or two short oi;hcnrs.
The Who'll. length being about fifteen miles fnr LIZ
line tho New York Central l. 10 guarantee lie Pr
and interest Of 100000 IN per cent looV'ar s"'u
bonds md oil the stock l. 10 be- given 10 H. ,or,
The Car,har. and Adirondack hallway runs rom
C,rthorr on the Rome. Watertown ana oguenso"rh
Railroad nhai being The point u lnnchpn Oh onoro
line coming from -acket's farbor. on Ih" Dhn'o
cas,wordiv 70 n point Tupp.r Lake IN II. Law
renee County With some short branches tnr "n n
length being about forty three miles Tor 'nls n,
I'M. Central f. 10 guarantee the principal ana ih'r
of Der cent gold bonds. maturing IN l'ri .ee 400
nine wears, 10 nm amount not exceeding S'.ooo,o,
a, these bonds 81 100 900 only are To- be pre.'hEs
,ssued and the remaining 100000 VIII nc re.S,mN
N, improvemens or extensions " desirabc' Prv
,oc,ion n, the line castwardy for some hvc mics WI"
Connect the railway with the Mohawk ana Malone