Year: 1879

THE POUGHKEEPSIE BRIDGE.-When the first subscriptions were made to the stock of the Bridge company there was difficulty in inducing capitalists to invest money in it, be- cause two very important points were involv- ed in doubt, and could only be made the sub- ject of estimate It was impossible to, tell just what the bridge would cost, and mpossi- ble to settle with any certainty how much business would be done by it, and hence, whether it would pay or not. Careful men, whose knowledge of facts and judgment were worthy of confidence, declared that It could be built for sum within the engineers estimates and thut it would pay very large percentage on the cost, but others hesitated, and some even doubted whether it was practicable to build it at all. Since then one of these points has been settled absolutely and beyond argu- ment, and the other is made far more certain than it was. The bridge can be built. The solid granite pier that stands in the channel 500 feet from thesyest shore proves that, for the only question that could be raised by any engineer was met and solved when the found atiOns of that pier were laid. The cost, too, Is settled. One pier IS completed to twenty feet above high water mark, a second is partly done, and the caisson of third IS ready to be put in place. What these have cost is known, and from that the expense to be incurred in the rest of the structure can be accurately as-

 

 for the cars for less than four millions of dollars, winch is tine figure named at the out set

 Negotiations with owneIs of coal and rail- road companies have also demonstrated be- yond any guess-work that there is an immense business waiting for the bridge, and contracts already entered into for the building of con- meeting railroads guarantee that this business will be here as soon as it is done The esti- Ia they are largely exceeded and it is as certain as anything in the future can be, that the bridge will pay greater profits than have ever been claimed by its most sanguine advocates. In consequence of this it has been determin- ed to increase the capital stock to the amount of four millions of dollars, and consent of the stockholders to such an increase has been giv- en- IL has also been decided to organize a syndicate to furnish the money to complete the bridge, on plan similar to that adopted in building the elevated railroads in New York, and number of subscriptions for large amounts have been made to this syndicate, which it is believed will be source of consid- eTable profit to those who go into it. The present stockholders and subscribers to the stock are to be admitted on the same terms as the new Oncs and will receive credit for all the payments they have made, on signifying their desire to join the scheme. That is, those who nave Iald the WnOIc amount or tnelr orig inal subscriptions will be admitted to share in the syndicate to the same amount, without any further payment, while those who have paid part will have to pay only the installments due. They are invited to call at the office of the company where all the details of the plan will bc explained, ard sign the new agree ment

 4 force of engineers is to be put on in about two weeks to locate the new road from here westward to the Pennsylvania coal fields POagLkeepSe EagLe.