The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1895-09-16
THE CONSOLIDATED ROAD
WHAT an OLD And EXPERIENCED
RAILROAD MAN SAYS,

teemed New Haven Man on the Board of
Directors.
The directors of the New York, New
Haven and Hartford railroad met at
the Grand Central depot in New York
Saturday, it having been the first meet
ing since last June. All of the men,
bers were present except Hon. Chaun-
cey M Depew. Charles P. Clark of
this city, the president of the COM
pany, presided.
A memorial tribute to the late ex-
Governor Morris was voted after suita-
BILE remarks of sorrow regarding the
death of Mr., Morris had been made.
To fill the vacancy on the board
Arthur D. Osborne, president of the
second National bank, this city, was
elected. Mr.. Osborne Is known to all
the business community Of this city
as man of high character and sterl-
ing integrity. Mr.. Osborne is a ma
tive of Fairfield county. For several
years he was assistant clerk of the
superior court, the late General Alfred
H. Terry being clerk, and when Colonel
Terry enlisted in the War of the Re-
bellion, Mr.. Osborne succeeded him as
clerk, retaining the position many
years and winning approval for the
admirable manner in which he dis
charged the duties. Upon the death
OF his father, Mr.. Osborne inherited
most of his goodly fortune. Later he
became owner of considerable stock in
the Second National bank, and was
soon afterward elected a director. Up
on the death of Samuel Hemingway
of Fair Haven, about fifteen years ago,
Mr. Osborne was elected president of
the bank, and has held that office ever
since. He owns considerable stock in
the Consolidated road. He has never
taken any great interest in railroad
affairs, but his excellent knowledge of
finance and his keen business insight,
will make him a vs1uable member of
the New Haven road directors.
Director Osborne's father was the
late Judge Thomas B. Osbo dc, who
graduated at Yale in 1Sl,, was admit
ted to the New Haven bar three years
later, and until 1854 practiced law in
Fairfield county. In 1854 he returned to
New Haven and for several years was
professor of law in Yale Law school
He was a Wing and from 1889 to 1S43
represented Fairfield county in the ma
tional house of representatives. For
many years he resided on Crown street,
where the son now resides.
The board voted the usual quarterly
dividend Of per cent, no doubt seem
ed to be felt but that per cent. divi-
dends per annum will be maintained
and without difficulty.
The last quarter was one of the most
prosperous in the history of the road.
A prominent railroad man said yes
terday regarding the Consolidated
Look at the vast difference between
the financial running of the Consoli-
dated road and that which has charac-
terized many other roads that might
be named in this country which have
eithed toppled over into bankruptcy or
had a tight squeeze in escaping it.
Look at the gigantic stock watering of
big railroads that has been done in
this country. Look at the vast extern
sions which have been made by big
roads into wild and sparsely settled
states, which extensions became a bur
den on those roads and the result Of
which has been a reduction of dividends
from s to 2 per cent. in some cases, or
worse that that at times. Some of
these extensions they were almost
forced to make in a wild spirit of COM
petition that prevailed.
THE Consolidated road, on the other
hand, has been conducted honestly and
of stockholders. For the big increase
of stock made by the Consolidated road
there is plenty to show The dollars
spent have been spent in improvements,
in making the road second to none in
the country. Vast sums have been
spent, but spent in making the road
first class in every respect Lots of
dangerous grade crossings have been
eliminated. This expedites the bust
ness and saves also a heavy yearly
bill for damages, to say nothing of the
great lessening Of the loss of valuable
human lives. These improvements en-
able the road to make fast time and
to handle great quantities of freight,
which they were unable to handle be-
fore. Highly valuable rights of way
have been secured and highly valuable
property in the line of freight yards
and terminals and dock facilities have
been acquired. Look at the immense
lot of valuable land the road has ac-
quired in New Haven alone in the last
few years. Look at the immense value
in wharf property in New Haven alone.
All these improvements speak for them
selves. They are not watered stock.
There is a dollar for every dollar ex-
pended. All these Improvements once
made are permanent. By and by the
improvement will be substantially COM
pleted and but little money will then
have to be expended. The earning
power of the road has been in the meal-
time immensely increased No! / am
not caviller nor a doubter as to the
future of the road. l see that with
only an ordinary increase of mauufac-
turing business and population i'll New
England a splendid future and much