The sun., 1895-03-28
TO CONTROL THE HUDSON.
ORGANIZATION OF n COMPANY
SAID TO AIM At THAT
Tho Vanderbilt Interests Are In It. and SO
Is the Peoples Line OF fStenn,bents-Fine
Boats and Improved Service Promised.

II the feOpte'n lstnc OF Ste tenmhOntN-Ftne
Boats and Improved Service Promised.
TRENTON. March GA certificate Of incor-
poration OF tho New York and Hudson River
Navigation Company was filed in the oflice OF
the Secretary of State to-day. The principal
Office OF the company is to DO in New York and
its branch offices in Jersey City. The capital
stock Is $500. 900, divided into 5000 shares OF
the par value OF 500. Business will be COM
menced with 81 900 paid in by tho following.
each of whom appears by the certificate to own
ono share of stock: Chauncey NJ. Depew, III.
Walter Webb, Willard Brown. Charles w.
Wells, A. Barton Hepburn. and George s. Bixby,
all OF New York city; Horace c. Young Of
Albany, William G. Arkell OF Canajoharle.
Ervine d. York of Flushing. and Edward A.
MacClenn Of West Summit Nj.
According TO the papers filed the corporation
is formed to operate steamboats,. tugboats,
lighters. canal boats. floats and other floating
equipment owned, leased, or chartered by the
company, in the transportation of merchandise,
goods, and passengers on the Hudson River and
Now York Bay and the navigable waters edja-
cent thereto. and in connection with this bust.
ness Ito operate docks piers, transfer grain
elevators. warehouses. and generally to carry on
any business incident or pertinent 10 the busi-
ness aforesaid"
Since last fall an effort has been making by
prominent capitalists Identified with the Van
derbilt interests to secure control OF the pas
senger and freight traffic OF the Hudson River
between New York and tidewater at Albany
and Troy. The competition existing for years
between the Hudson River steamboats, and tho
New York Central and West Shore railroads
has. ut times. resulted in ruinous cutting Of
passenger and freight rates. Tho now company
will put an end TO this competition, as it ex-
poets, eventually. to control all the general
freight and passenger business along the Hud-
son.
The capitalists interested in the project an
nounce that they have sgaed contracts by
which they come into control ef the Peoples limo
Of steamers. one of the oldest on tho Hudson
River. and they intend to put two new boats on
that line within year. To avoid the charter
Limitation 1t was necessary to organize tho new
company. the papers of which were filed yester-
day.
The new corporation has also contracted for
the construction of a passenger boat. and within
n few weeks this company and the Peoples limo
will ha absorbed by a new third company. whose
object it will be to absorb other Hudson River
are City mberlain J. }, O'Donoluo K. q.
Rolston. President of the Farmers Loan and
chn"nesy H. H. M%Es WELLER WoSo Hiys H.
Young. nice-Presidsnt Of the Delaware and
@ara BroSn AepSur1 PRESS
ident of the Third National Bank, and others
While the New York Central Railroad will
not control the projected steamboat combina
tion the latter will work in harmony with the
railroad. as Vanderbilt interests will predomi-
nate.
The two steamboats, to run between Now York,
Albany. and Troy. now building. will cost near
lv 81 800 900. and will be the largest and fast
est on the river. The present steamers of tho
Peoples line. the Drew and Richmond. will be
used exclusively for freight and second class
passengers: AS the new steamers will carry
freight and none but tirst-class passengers. 1t
10 intended to shorten the time by boat to AL
hour OF departure from Now York late at night,
instead OF u O'Clock In tho evening.
>, President Everett of the Peoples line will be
President OF the new company.
When Chnuncey NJ. Depew was seen last
night he said he could give no information
about the new company other than that he had
80 Apart from that he had taken no active in
details IN Of fIfg hs she te
most active in the negotiations.
Mr.. Webb had more to say about tho new
New blood and increased capital" he said.
have gone into this thing. and the travelling
public wi derive the benefit from the change.
some of the men interested In the Albany boats
They are Messrs. O'Donohue. Rolston, Hayes.
and Englis. Mr.. Depew myself. and Messrs.
Young. Hepburn. Arkell, and some others are
There will be an increase OF S1.5OoOOO in
the capital Of the company. Plans for two new
steamboats, have been almost perfected. These
are to be side-wheelers but the largest, fastest.
and finest of anything in similar service. Our
schedule has no: yet been determined upon but
the ecompany will begin operations within short
time.
our new boats will probably not be COM
pleted this summer. but their construction will
be hnstened as much AS possible. We shall put
on boats according to the requirements of
traffic"