Year: 1868

shortly after became president of this company,
some months SINCE and after thoroughly acnuaint
Ing myself with the wants and requirements Of tho
company. with the view OF devoting what energy
and experience had to their contamination. acted
upon the theory that the Erie Railway Company.
which owed its existence TO the State was bound to
pursue policy that would foster and protect both
the OF the city and the business interests
OF the State. found the equipment OF the road,
both engines and cars, inadequate for its business
There is not q local station between New York and
Bunal0 where business men and shippers not
now greatly sunering for want OF In addition
to these local requests bound to give facii-
ties to our Western connections. They are now and
nave been greatly suffering from our inability to
~ rnish cars and engines to bring forward the
driven away from New York to Philadelphia and
baitimore. proposed to remedy this evil by fur-
nisaing tne road with ample equipments TO accom-
modate the public and protect the local customers
OF this road.


The Western connections OF the company
gan Central and Great western Railways
forming line between Chicago and Suspension
Bridge were completely shut on from US by want OF
. link OF twenty miles of road between Buffalo and
Suspension Bridge. entered into negotiations with
these companies, and as result the road In ques-
tion Is now being rapidly constructed, and by July
the Erie Railway will be doing fair share OF the
business OF those companies between New York and
Niagara Falls and Suspension Bridge connecting mt
chicago From this source expect to derive q
nue. offrom one TO two million dollars per year.


we were not only suffering for engines and cars,
but large portion OF the line was single track, and
the pressure OF business on IL so great that it
was almost impossible to pass the vast tratlc OF the
company over IL. Frequent delays In both passen-
ger freight trains were necessary result These
delays injured the traffic OF our line to obvate
which am now double tracking the road as rapidly
as possible-rom Buffalo east HOrnesville east Corn
Ing west. and on the Delaware division. Very soon
the entire line between Buffalo and New York win
have double track, easily saving one hour in the
running or passenger trains and the n
ing OF freight trains, besides doubling the capacity


found the character OF the iron rails so deficient
In quality that considered the road unsafe and inn
mediatety called to my assistance the best talent
manufacturing our own steel rails at a rate which
VIII cover the entire line between Buffalo and New
IN mss SS aS and We ne have ALREADY
sion, and consider our track to-day equal to any
other In the country.


found the road in bad shape az to the supply OF
fuel and Its great cost. Although we were buying
a large amount OF coal we were buying much of It
at retail prices, and our fuel account costing
$,700,OO0 am now mining coal at our own mines
at q cost OF about two dollars and a half per ton.
or saving OF nearly $1,000 900 In the single item OF


There was another important matter presented 70 my
attention at an early day-namely third rail or
row gauge All our Western connections, excepting
the Atlantic and Great Western, were narrow gauge
requiring transshipment at Buffalo and Dunkrk OF
every car Of through freight passing over the road
while on the competing lines OF the New York Cen
trail and Pennsylvania Central there was no
transshipment between Chicago and New York
The Western roads agreed to furnish the cars
for the whole line between Chicago and
New York, leaving 1t only for the Erie Company to
provide the third rail- could not acting for this
and was rapidly concentrating the arrangements
to carry out this plan when the recent litigations
supposed to be In the interests OF competing lines,


Beyond the expense of these litigations, and the
annoyance and loss OF time they occasion me, do
not regret them. The charges made are without the
slightest foundation In truth, as was well known to
the principal instgat0rs.


Since have been connected with the company
have secured the following roads, and on the follow


The Paterson and Newark, extending from
Newark to Paterson, leased; the Erie Company to
operate the road and to pay as rent thirty Ave per


cent Of the gross earnings; the Erie Company have
the liking Of rates regard this con connection ne as very
and twenty thousand population, and the largest
manufacturing city In the Union. one OF the termini


The Newburg and New York Railroad fourteen
miles, making the shortest line between Newburg
and New York, is being constructed by this company
have made q contract with the Delaware and
Hudson Canal Company for the entire Transports
| per annuu, q tonnage equal to our total through
tonnage last year. This embraces the use Of eight
miles between H0nesdale and Hawey; and also


new road between Carbondale and susquehanna
This, coupled with the new road being constructed
In conjunction with the Michigan Central and Grea
Western between Buffalo and Suspension Bridge
embraces all the new lines that have been secured
or constructed under my administration. ! con-
slider them all important additions to the company.
have also revised and made new contract with
the United States Express Company, made upon u
more equitable basis and largely increasing our
compensation for doing the express business


At meeting Of the Executive Committee to-day
the President was directed to commence suits
against Cornelius Vanderbilt for the recovery OF the
81 900, 900 subsidy paid him, and To compel HIM to
take back the 900 OF stock at the So, COO
originally paid him by the company.


Suits were to-day commenced against Daniel
Drew to compel him to account to the company for
the forfeits OF several years on the Lake Erie
steamboats,, amounting to sl,ooo,0oo; another
against Daniel Drew, r. H. BerdeI, p. y.
w. b. Skidmore, II. l.. Person, Thomas W. Gale
comprising the old board. to compel them to take
back the 81 500 9Buffal0, Bradfordn and Pittsburg
bonds, which were saddled on the Erie Railway
Company after the enterprise had proved q total
failure, the actual loss TO this company In operating
the road since January 1866 the date OF the lease
being $685. 1901.


Whenever the facts are fully known and the public
becomes aware OF what is being done to make the
Erie Railway the most magnificent and perfect rail
way line In the country and the pride OF the city
and State then the acts OF the present managers
will be appreciated.