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is at this day taking precedence, and is most of the New.York and Erie road necessarily || Railroad, and the immeose increase or rev. generally approved.

implies a connection with and participatiouenue that the Hudson and Delaware Ral. The plan recommended for the rond of in the business of transporting freighit and road Co. will derive therefrom, it is believed which we are treating will, I trust, be found passengers from the whole southern tier of that still greater advantages are to be gained consistent with the experience of the day. l'outies to and froin the great EMPORIUM of sirom its connection with the inore souihera It will not materiilly diifer from those adop- COMMERCE. That the Hudson and Dela-l interests. By this another and in portant ted on the principal routes in this state, and ware Railroad is secure in this latter neaus | part of Orange County is to be served. The will present a graded surface of 20 teet clear oraffording a revenue to the company, needs extensive and durable water power of the of ditches, wiih slopes of one to one in ex.

no better evidence than the fact ihan theo ter Wall, and Kuigers Kills, with the cavations, and of one and a hall' to one indistance from the mouth of the Chechuck || Mechanictown Creek, brought into full and embankments. This will give ample room creek, (ihe mosi probable junction) by the active use, and it manutacturing interest for iwo tracks of 4 feet 9 inches in the clear, way of Tappan landing to the city of New-| created that w.llone diy rival in importance, each.

York, is, (as given in the report of James usefulness and value, that so long and justo, The superstructure will have two contin-Seymour, Esq., upon the New York and ly celebrated for its agriculural productiveuous and parallel lines of sills composed of Erie Railroad,) 82, miles, while by the way || ness. white pine 4 by 9 inches, and not less than Newburgh it will be only 25 miles by The ultimate object of this route has, 14 feet long cach. These silles should be way of railroad, and 60 by the Hudson River however, already been alluded to.

But as imbedded in irenches sunk in the gradua- | navigation, minking in all 85% niles. And the introduction of mineral coal to njarket tion so that the upper side of the will cor.the rise and fall upon the roule proposed through its channel is of primary impor• respond precisely with the grade of the road. for the former is 1308 feet, and on the latter | tance, it may be well farther to remark that

Transversely to these, ties will be placed only 420 to Wasiiington street, and 538 10 the distance from Newburgh to the Delaevery tlıree feet measuring from centre to the duck in front of the United States Hotel. I ware River will be about si miles, thence centre. T'he tips should be seven and a The route, therefore, via Newburgh is " to the very centre of the coal mines" 53 halt' feet long, and 6 by 6 inches square, and preferable to that via l'appan landing, and miles, making ihe total distance from Newof chestnut, white oak, or white cedar tim- will afford the cheapest and most expedieburgti to the coal beds 134 quiles, and eleven ber; also have notches of 24 inches deep totivus means of transit for freight, of every miles more reaches the Susquebannah riv. receive the wood rail and the spike for se-l description. Cheapest, because the actualer, and the Norih Branch division of the curing it to the sills, and guarding against difference in distance between the two Pennsylvania canals. Aud further, that it lateral pressure. In the notches of thie ties routes is but 3; iniles, and because the route is stated by high au hority that " we can will be placed the wood rail, and be secured via Newburgh will not only have 770 feet upou completion of our road," meaning that by red cedar, locust, or while oak wedges. less rise and fall to encounter (whichi alone from the Delaware to the Susquehannah, The rail to be composed of Norway pine, will throw the balance on account of " deliver coal in quantities at the Water Gap and be in lengths of 18, 21, 24, 27 and 30tiou vastly in favor of Newburgh,) but be at $1 50 per wun, and sell it at that price." feet, and 6 by 6 inches square. The whole cause it will bave with an increase in total Now if this can and will be done, the coul in to be surmoiinted with an iron plate rail 24 distance of 37 miles, an excess of river nav. vast quantities inay be thrown into the by , inches, which should be firmly spiked igation of 30 nuiles. And the river affurds New-York markei at $4 per ton. But if it to the wood rail and underlayed at the joints rueans of transporting both passengers and were to cost $5 50 per ton to deliver it, this by connecting plates. The forse patli to be freight cheaper than it can ever be done by channel would still successfully compele forined of naterials froin the side of the railroads, Most expeditious because the with any other engaged in the trailic. road, and slated or graveled as the material saine power will give equal speed, and an Having thus alluded to the general reis most convenient.

equil quantity can be applied and give an sources that the road will have to augment It is confidently believed that a road upon excess of speed.

its business, add to its importance and in. the above described plau, with a single track

It is, however, urged that the terraination crease its revenue, I submit the following and suitable turnvuis, will, for the present, of the New-York and Erie Railroad at Tap-estimates with a view of showing that it be capable of perforining all the business pan landing will not be as likely to expuse its will pay a large per centage on the cost, even that will accrue to it, and that an additional business to interruption by ice during the under the mosi limited circunstances that one will meet the dengands when its facili-wiuter season, as it it were to terminale at can exist. They are based upon the suppoties are known and appreciated, and its a more northern point. This is undoubted.bition that the New Jersey road is no: built, fre ght is drawn from all the vast resources ly true, so far as it is consistent with the and that the transputation on the whole and that must ultimately contribute to it.

actual circumstances that will attend its parts of the line will be equivalent to that of termination at that point. But these cir- llihe items enumerated for ihe whole distance cumstances give some plausibility to the from Newburgh to the New.Jersey line. suggestions of a more northern ruute, and

ESTIMATED ANNUAL RECEIPTS. as it is understoud that the water in Tappan | 40 Passengers daily tach way, The Charter of the Huilson and Delaware Bay is shallow for soine distance into the

80 for 320 days of the Railroad grants to the company the privi-l stream, and that the entrance into the har.

year, 2 1,000 yearly at $1 50 $36,500 lege of connecting with the New York and bor is annually interrupted by ice, it is cer.4,000 Cords of Wood, 1 75 7,000 Erie Railroad, the one projected from the tainly questionable whether Tappan or Rails, Posis, 'Timber, Stone, Jersey line through the valleys of the Wall Newburgh harbor is preferable for the win.

&c.

2.000 kill and Pepo Coton creek and the Paulius ter season. It is true that the water al|1,000 Tons of Butter,

1 50 1,500 kill to the Water Gap on the Delaware Newburgh is deepest, and it is equally true 1.500 Tons of Pork and Live River, and through it, with that now actu-l that water cungeals most rapidly where it is

Srock,

1 50 2,250 ally executing from the Water Gap to the shallow and spread over a large surface, | 150,000 Busbels of Grain and Susquehannah River, upon such terms as hence it is believed that the barbor of the

Vegerailes,

4 6,000 the contracting parties shall agree. latter will be equal if not superior to the 5,000 Tons of Presscd Hay, 1 50 7,500 The New York and Erie Railroad, it is former in the winter season, and undoubt

10,000 Busbels of Lirine,

3,200 well know it, is rapidiy progressing. Thatedly preferable for the remaining portions 500 Tons of Iroi,

1 50

750 through New-Jersey is iow being surveyed of the year. under my directions, and will undoubtedly This difference too will remain relatively 2000 Tuns of Gypsum, 1 75

3,500 prove sufficiently inviting to capitalists to the same if the New.York and Erie Com

1000 do.
Sali,

1 75 1,750. insure its completion at an early day, after|pany adopt any of the routes proposed for

1000 do. Merchandise of it is known that the Hudson and Delaware crossing the Wallkill and continuing to

Various kinds,

1 75 7,000 Railroad is to be extended to meet it at the Tappan landing ; aud any of them can be line. approached upon ground favorable for a

$78,950 Thus it will be seen that the Hudson and junction. Even should they ultimately Delaware Railroad is ultimately to become adopt the Middletown route ihey may be the outlet for all the surplu's productions of joined at that place by passing the Wallkill a country, widely extended, and reaching at Stoney Ford and gradually ascending the loterest on first cost,

$28,350 far beyond its actual livpils, that it is to re. high lands west of Philipsburgh, without 5 per cent. on the perishable part ceive and transmit to the Hudson the freight exceeding the naximum grade between of the superstructure,

6,000 and passengers concentrated upon more Newburgh and Salisbury, and over ground 10 per cent, on the Cars, Engines, than å hundred miles of railroads in New that will adinit of a cheap construction of the Horses, &c.

3,000 Jersey and Pennsylvania; roads that will work. Or the connection may be made with Superintendance, repairs, fuel, &c. penetrate the richest agricultural and min. || the same line in the valley of the Wallkill.

&c.

16,000 eral districts of the former and the vast coal But notwithstanding the importance of a che beds of latter, while its passing the track || connection with the New-York and Erie

Total, $53,350

THE

OF THE

POLICY AND PROSPECTS

PROJECT

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RETURNING FREIGHT.

ESTIMATED ANNUAL EXPENSE.

EXTRACTS FROM TIIE

$53,350 deducted from the estimated an || Deduct for the repairs and

baye before intimated the cheapest roule nual expense, leaves 25,600 dollars as the renewal of the road and

from any point on the sea-board 10 the Wesi, net income, uver and above all interest, and steamboats,

$200,000 00 from Beaufort, for instance to the narrows deducting ihe licee last items in the an. And it leaves a pett revenue

of the Yadkin, will be found on a very di. nual expense, and adding i he remainder to of

$700,000 orect line West, until it falls into your Řail. the net income, gives 53,950 dollars, as the Now, although I believe this sum will road ; and thence, (in this case) along it 10 annual revenue or THIRTEEN AND ONE-THIRD fall short of the receipıs of the first year, some point South of the Neuse river. per cent. on the capital invested.

yet, lest we should appear roo sanguine and In a military point of view your Rail

to remove all po-sible ohjecrion, we will road, in connexion with the Porisniouih The above estimates, though stated in deduct from the foregoing. Iwenty.five perand Roanoke Railroad, and the contemplaround nu:nbers, are deductions from much cent., which reduces the amount io $525,- ed Rail-road between Wilmington and minuie daia, a.id it is believed that i hose of 000 00, or a dividend of 35 per cent on the Charleston, may be regarded as forming a the receipts will be found generally far below estimated cost of the work.

complete line of defence to the whole sea. the actual tonnage that will pass upon the A Railroad which produce3 6 per cent. board from Nerfolk to Charleston ; for Dad, aad in no one item exceeding it. In aer in the first years of its operation, is con- There is no Railroad in the country, upon fict, with the exception of pressed hay and sidered good property; for the increase of which so large a force can be concentrated lime, equalquantities are now hauled into business which must ensue, always in in a given time; and where, perhaps, there Newburzh over ihe cornpikes and common creases the annual profits in a great rario. would be a greater probability of iis being roads that will be within the influential While our estimates exceed this per required. By the Charleston and Hamburg ringe of the railroad. And the items in the centage nearly six times, it will be perceived Railroad and its connexions; the Charlesmanual expense are known to be liberal for that we have confined ourselves entirely to on and Cincinnati Railroad ; the Roaneven a greater tonnage than is stated. the annou 1 of the present travel; and ibig oke, Danville, and Junction Railroad ; the

The result, therefore, is that the Hudson after being taken at a very low estimate, Porismouth and Petersburg Railroads; and and Dela ware Railroad will amply sustain reduced 25 per cent. But in presenting a by means of the Railways to the West i self by its own local resources, and it is view of the prospects of the Road, we within your own State, levys for troops on therefore unozcessiry to enter into any del should anticipate ihe probable increase of South Carolina, Georgia, Alabama, Louistil to show that is receipts would be im. travelling by reason of the increase of the ana. Mississippi, Tennessee, Kentucky, in selv beyond our calculations if united business and population of Charleston ;|| Winois, Indiana, Ohio, Virginia, North with the importino works before mentioned which must ensue from the great and girl Carolina, Maryland, &c., inay be met from The single article of coal would more than antic scheme which she has in contempla. the remote States in a few days, and in a duuble the weight of transit and swell the ion, and which she will no doubt carry into few hours, from the more adjacent Statis, ruceipis in like proportion.

effect to Cincinnati. And in a few years and any number of troops, may be thrown All of which is very resp:ctfully submil-llthe Railroad to Hambury, which is now on the line of your Railway; whence, by lud,

JAS. B. SARGENT, being extended to Athens, will be prolorged lateral roads and Sieamboais, (down the
Civil Engineer. south wardly 1o Columbus ; and thence in numerous navigable streans which the

continuation with the Railroad to Pensa.road crossps) in a few hours, or by a n arch

cola, coinplele the line of Rulway, and of a day or two, they may occupy any posiREPORT

steamboats all the way to New Orleans. tion on this extended coast. "And in the OF WALTER GUINN, ESQ. ENGINEER,

But without any further specification of the transportation of stores and munitions of To the President and Directors of the Wil- || templation and tegun at the South, suffice marier of primary importance, it affords a

virious improvements which are in con- war, wnich, under the military head, is a mington and Ruleigh Railroad Company.

ļ to say, that your Southern termination a. sase avenue; and in time of war, will prove (Concluded from our last.) The estimate of the road.way formation prove nenis converge, ensures your imme. Charlesion, towards which all these ima saving of millions to the Governmeni.*

As a National work, therefore, yours falls var beneath the average cost of a milarliale, continually increasing and never fail. I cannot be considered as secondary to any works; while it is believed that the pro.itsing sources of revenue ; and completely seis in the country. But one of the most happy will not be excelled by any im ruvement in all competition by other and similar im- results of the Railway system in the the country. For your Razlivad, in con nexion with the Porisinouth and Roanoke,rience has shown thai the travel on routes | parted by your Railroad to thai portion of

provements, at defiance. For all past expe- Southern country, and which will be im. and the Petersburgh Railroad at Weldon : connecting commercial cities, increases in a line Siate most concerned, is ihe effect it both of which are links in continuous lines ratio, much beyond that of the business or will have, by the speedy concentration of of Riilivay and Steamboat com'munica-l population ; and the great lines of travel troops 10 pui dowo, ir noi entirely suppress lion to Bosion, must become the great thor. in all couniries led through the commercial oughfare between the Norta and South ; | towns.

* Extract from the Report of Mr. Cass, fir between the Roanoke river and Chail s

Rutes passing through the interior, Secretary of War, on Nalional defence. 1on, or the Charleston, and Hamburzh Rail. ll with a view to divert the travel, must be “The power of transporting iroons and roid, a 1 Dilling, there were any other com regarded as experimen's running counter munitions of war, has already opened new muocation by Railway contemplated, its to all experience, and of very doubtful suc- views upon this subject; and such is the g enter lengil, and what is a matter of Icess. ind lliy it down as an incontrover. I progress and proboble extent of the new sysdeeper consideration, its greater expense. rible faci, :hai those works which will liem of intercommunication, that she rime firbils te ilea of rivalry; and places your prove most profitable, and most conducive will soon come, when almost any, amount rida'm st bevond the reach of compet to the great and varied interests of the of physicial force may be thrown, in a few

Suthat we may siy, in fuci, it forms couniry, inay be classified under two heads. hours, upon any point threatened by an a i imporia:it il noi indeed, ihe most im- Those which connect the commercial cities, army. Nashville may succor New.Or: portant link in the great line of intercom- and those which lead from the commercial leans in sixty hours ; Cincinnati may aid munication between the North and the owns by the most direct routes to the Charleston on about the same time; PilisSjuth. Under this view of the subject, i. interior and western portions of our coun-burg will require but twenty-four hours to is dillicult without the appearance of exag. try.

relieve Ballimore; and troops from that city, geration, to estimate the probable revenue. But your revenue will be greaily swelled and from Boston, may leave each place in

The travel between Charles'on and the from other sources, which we have not ia-the morning, and meet in New York in the Northern cities by steam boats and sia res, ken into the account. All the improve. evening. This wonderful capaciry for may be safely coinpuled al sixig thousand.linents which are contemplated from the movement, increases in effect, some of the Tiis amou ni mizhi be greatly swelled by ll sea-board to the Western part of your most importani elemenis of national power. obracing the whole travel from New-Or. Stace, must cross the line of your Rail. I neutralises one of the greai advantages leans ; wbich we confidently believe will way ; and to whatever point destined, will of an assailing force, choosing its point of take th: rou:e of your Railroad.

iní it to their interest, to some exteni, to attack, and possessing the necessary means But we will say 60,000 Travellers al pursue it, in order to make selection of ihe of reaching is. Detachments liable, under $12,50 each,

$750,000 00 most favorable location. Under ibis aspect, former circumstances, 10 be cut off in der To this we may add for

your Railroad presents itself to the State tail, may now be concentraied without de. the transportation of the

in a peculiarly interestinpoint of view. !! ay, and most of the garrisons upon ihe spa. mail,

50,000 00|| :raverses it acarly through its entire lengih board may be brought together, and after Way passengers and freight

rom North to South, aod forms the hisis accomplishing the object of their concenon produce and goods, 100.000 oCupon which the internal improvement tration, be returned to their stations in

sche e of the Raleigh Convention may be time to repel any allack meditated against $900,000 00|| most economically carried out. For, as Illihem.”

ton.

and remove all apprehensions of servile ernment with embankmen!, an. iv preserve lited supply, consisting of passengers from disturbances and insurrections. The speedy | access, between the differeni parts of prop- the National Road, who embrace this de• transit of the mail, especially bei ween com- priy divided by the road as it passes through delightful roule tireugh Rompey, by a daily mercial cities, is an objecí of solicitude Harper's Ferry, it was found necessary io line of stages from Cumberland. Energetic with all Governments. Your improvement construct twelve buodred feet of double steps have been taken to carry into eflect fully meeis this cbject, and is imporiance track on piles, the materials for which, as the wise provisions of the Legislature 10 under this head also, cannot fail to attract well as workmanship, were very expensive, improve this interesting perion of the Com• the allension of the General Government ; and the solid embaukmeni wide enough 10 monwealth and broughout his whole and also the concentraled concurrent ipler. receive four iracks near the abutment of lengih, our mountain brethren will soon er.. esis of the large ciríes at the Norih. And the Baltimore viaduct, raised from material joy an curlet 10 markel, which they have having tie efiece as we have assertedl, youi | als bauled from the Maryland shore, drew long and patiently expected, and travellers road will have to turn the whole stream of far more more heavily upon our funds, iban be furnished with the most expeditious travel between the North and the South, was anticipated by the Board. The price communication between the Allanic cities ihrough Charleston, and on the Charleston of un.ber for the superstructure, went gen- and the centre of ihe West. Bui without and Hamburg, and the Charleston and Cin-erally beyond its first estimated cost, and an improvement in the roads gei erally lead. cinnati Railroads, she, as well as those lihe amount of land damages paid for the ing to the railroad, feriile as uur country is, interested in these two great improvements, I right of way, far exceeded i he calculation of and variously adapted to pruductions which are deeply interested in your success, and the warmest friend of the landed proprietor command the exchange of the sea ports, it will no doubt contribuie largely towards it ; || affected by its location. They are lille will only exist in conparative decay to disand the trade and Travel it will throw on || short of $40,000, and if to one half of thai tricis narurally iis inferior, where neigh. ile Purtsmouth and Petersburg Railways, sum, still leaving a reasonable allowance 10 burhood con munications have immediaiely will greatly enhance their profits, and ad- meet the original demand expected from been opened with enlarged channels of tradi. vance the prosperity and wealth of Peters. that source, there be added more than Io the upper counties a laudable energy has burg, Norfolk, and Portsmouth.

$30,000, arising from the unexpected diffi. been displayed in improving the main are roThe counties along the line have mani ulties above referred 10, the reflecting cess to the Winchester market, and below fested the interest with which they regard stockholder will not be at a loss to account us several modifications of roads leading 10 is, by the handsome subscriptions which for the apparent miscalculation of the origi- our depots are in contemplation. A char. they have marle.

nal friend of the iniprovement. In ornih, 'er has been obtained 10 connect Smithfield The benefiis to Wilmington will be in-however, there are but very few works or with a railway lateral to ours; another mediately telt in the great increase in the the kind in the United Staies, which have branch is talked of, and tbe citizens of exchange of commodinies, which the in- | not cost much inore ihan ours, constructed Saunion and other towns, forming a chain creased tincilities of communicating with a at the same time with equal permanency. lof enierprising communities through the rich back country will assord. And she may 15,000 dollars per mile, including the mo. centre of Wie Valley, des pairing of a turnbe justly proud of ihe jank 10 which she live power and depois erected will be deem- pike, which some of them preferred, whilst will elevaie herself, in baving projected anded by the experienced eye, which has ex- others have believed such an inprovement carried into effect, an improvement which imined our railroad, as no extravagant ave- unsuited 10 the great demands of our coun. may be characterised as a great National rage, And may it not in some digree beliry and the spirit of the age, liave insulused and Siale work.

attributed to the laudable views of our in. a survey for the continuasion of the railroad All, which is respectfully

land economy, and ihe 100 yenerous confi- from Winchester. This survey, we are ii . Submilied by,

dence we reposed in our neighbors, as to formed, now almost completed, has encounGentlemen,

one item of expense at least, if our com-tered but few difficuities not easily su • Your obedient servant,

munity may have been surprised at the ag- Dounted, and presents no grades, it is te WALTER Gwynn,

gregate cost of the work. Should disap- lieved, worse than those on ihe Winchester Civil Engineer.

pointinent, however, have attended the con." and Potomac Railroad. Recognised as kii. Wilmington, Aug. 15, 1836.

'truction of the railroad, and the time it ha-dred to ours at the first general meeting of occupied, this may be said to have disap- the Stockholders in this Company, it ought

peared, so far as the success of its opera- nut now to be considered an alien 10 our in. PIFTH ANNUAL REPORT OF THE STOCKHOLD.

Lions has been testeil. In almost every in- terests; ir is bone of our bene, and flesh of stance, the trade over it has gine beyond our flesh. In this improving age, it will

or early calculations. The crop of last indeed soon become a grave question for the (Concluded from our last.)

year was a shori one, and a great portion of friends of our railroad, well calculated to While upon this subjeci, it is lue to it was sent to mariel before our road was excise their interes', how long can we rethe general meeting 10 the rea-opened. Nur will standing this, the quan. Lain the trade even of the upper Valley, sons why this actual expenditure 11.15 ex-l.y of flour we bave transporied up io the should the termination of the railroad be ceeded ivhat was supposed the first estimate 1st of August, a period of lille more than tixed here? The citizens of old Virginia, so much-a resull, which rather unfortu- four monibs, is but little under 16,000 bar. I roused 10 the life and enter, rise of their nately has befallen inost undertakings ofrels. Grain of various kinds, and meal, liere early histcry, among numerous other eso the kind. It is admitied that the original sofore almost excluded from market, as will oris, are exiending their band 10 welcome estimate of the work was $300,000, exclu-be seen by the exhibit of our trade, have the commerce of their liveihren of the Valsve of motive power. It is equally rrue swelled cur freighiand many articles, ley by a railway, penetrating to the Eastern thai 27 iniles of the distaisce, the suoject or such as pig iron, iron bluoms, and a quan. base of the Blue Ridge. Enlightened as fair calculation at the ti:ne of its commencerity of lead froin the borders of Tennessee, this movement ought to be considered, and meat, did nor at least exceed its proportion- with now and then cotton and tobacco, h:ve calculated 10 stimulate us to generous rivals ale amount of iniş sum-say $5000 a mile formed an unexpected addition 10 our érans. slip, destined though it be to a lucrative for graduation and masonry. The remain-poriation. The receipis from passengers union with the line of railways which proder, extending for the approach of the who have passed over the road' have also mise to connect the capitals of the seaboard, rond 10 the Shenandoal, to its termination exceeded our first calculation. Ali bough, it will, when aided by other similar works on the Poroinac, not at that time located, uut lille provision had been made for the parallel to it fail to satisfy the demands of owing to the uncertainty of the route to be accommodation by stages to the south and he great Mediterranean route of trade and pursued, stands thus chargeable with the west of Wincheier, where we ibink there travel, stretching to the borders of Tennesin reased cost of graduation, being at the is much room for competition, and the roads see, and beyond them, the most remarkable rate of inore than $12,000 per mile. A good leading to the town have been during the country in ihe Union, whether viewed as to portion of this was prepari d for a double set greater part of the season, in a very dis- its extent, fertility, wineral resources, its of tracks, in some parts inore, most of it was couraging stale from the frequent rains-he healt'y climate, and social and political advery expensive, from its coming in frequent number of passengers has averaged about vantages, indicating it as a prominent fedi. collision with the bel of the Shenanduan or forty a day since the opening of the road ral artery. We cannot allow ourselves to :be rocky bluffs along its margin, or com- i wice the number calculated in the first re-believe ihat the inhabitants of Winchester pelled to follow a trace from Island 10 Is- port, submitted 10 our citizens on the sub- have much cause for alarm on account of land scattered in its channel, where embank- l ject of a railway from Harpers' Ferry. the proposed extension of the railroad up went was obatined only from a considerable From the failure of contractors to com.l the Valley. With the start of several year's distance, and much bridging required across || plete the Northwestern Turnpike, owing, in in irade, it would speak but liule for the the numerous quis which connect the main some measure, to the enhancement of The enterprise of our merchants ifthey could not stream of the river with the chacnel of the price of labor and provisions, that impor-arresi much of the overflowing commerce Navigation Company. To avoid coveringiant avenue to the West, and destined tribu- which such a channel would disarge. Cithe ground belonging to the general gov-Iliary to our road, has yet yielded us a lim- ties there have been, with no means of

POTOMAC

ERS OF THE WINCHESTER AND
RAILROAD COMPANY

state

RECEIPTO.

supply inland to cheer the monotonous ster. || This condition, it is confidently believed | On the 15th dny of July, 1835, ility of their situation on the border of the l'he company has now all lined-lew claims there was ia ihe hands of the s a, whence alone ibey derive their support. l yel remain on account of actual consiruc Trensurer, lo the credit of the ConipanyWise names have bee a preserved only in the liion of any part of the road, and the repairs

In casb,

$3,577 44 hiskiiy fsome fuit inate neighbor; but there incident iv the first effeci oi transportinon In bonds for stock is ou instance ou record, oiany town silua- will soco be completed. The entire debt of and loalis,

2,025 91 ied in the heart of a district like ours, bles. The company including the convertible loan Interest on these s d w.th ali the elements of social wealth, of $150,000 authorized by the Legislature bonds,

239 73 ail in the line of a flourishing irade, having amount to a litile upwards of $171,000.

$5,843 08 failed to prosper, unless the apathy of its That portio on this sum consisting of tem The receipis and disbursements of the inn blanis lain-ly relinquish io others the porary lwans from Banks, if changed into a company beiween that time and the 15th of a lvatages first enjoyed by them. A popuoin for a term of years, would, it is July, 1836, are shown by the following Luien such as ouis cannot well be deprived thoughı, give more animation to our stock, statements : of a large share of the cominercial benefiis now a line under par, and would send to arising fro:n an extended improvement of equalize the claims upon the present stock. From stockholders, (being the the Valley, while it might well combine holders, with those wiio may succeed them, whole amount due from the with the serhe prosecution of inany branches and enable the company to inake a dividend of manufacturing industry.

subscriptions of individual ia February next, unless the failure of this

stockholders,)

$33,106 33 Whether the lineral appropriation of the year's cryp should de eat their caleulations. From the Board of Public works, Stale of Maryland, on behali of her great Tois course the stockholders will most like balance of State subscriprion, 20,000 n0 wirks of internal improvement will con-'y sanction.

From J. J. Cohen, Jr. and Brothstriin the Baltimore and Ohio Company, ul In the accompanying documents, relative

ers, of Baltimore, on loan, 20,000 00 tima 'ely to prosecuie iis gigantic underta to the receipts and disbursements of the From Thomas Biddle and Co. of kug from Harper's Ferry by a route north company generally, are exhibited the ag.

Philadelphia, on loan,

49,971 67 of the Potinne, we know not; but we ha.gregate amount of expenditures, since the From proceeds of discounts zird lille in predicting, that the known first survey was instituted-stated at $586,. fromthe Banks in Winchester, 14,345 31 forecast of the directors of that company || 926 48. In this suin is included the pur-/From the Baltimore and Ohio w I first as errain if it be practicable io ex-chase money of soine valuable improved tend a railroad fro:n Winchester to some property at Harper's Ferry, and the grounds

Railroad Company, to reim

burse the amount advanced in print on the upper waters of that river, adjacent to the depot at Winchester einbra

constructing the southern which might shorten the distance to the cing about seven acres—ibe interest upon abutinent of the Potoniac via. 0.110-ihe great object of their commercial money borrowed to relieve the stockhold duct at tlarper's Ferry, 10,161 02 desire. A route which would avoid all col-ers, and expedite the construction of the For principal and interest on lision with their former rival, and would road, which with viher iteins, not justly bonds for stock and money bring them into contact with several fertilechargeable to its expense, would reduce loaned,

2,525 06 valleys watered by brinches of the Poto-| the actual disbursemenis on account o! the For costs and interest,

76 28 mac, and in the vicinity of beds of Anthra-road and present appartenances to less than Fur amount overpaid M. Schol. cire cond, might entiile it 10 an examina- $ 150,000. In the document which shews field on tinber contract, and tion; for although the intermediate country the particular items of expenditure, up 10 refunded by liim,

1 35 is generally hilly, it is penetrated by re- the same date, some causes of disbursement For amount overpaid for dis. mirkable passes, such as are not to be found | may appear high-ibeir acknowledged im counts in Mechanics' Bank of out of lie basin of the Potomac on its norih periance, however, will we think satisfy Baltimore, refunded,

S 38 sije. Independenily of its locality, how.ihe liberal investigation of the stock huld. For amount paid to Treasurer by erer, and adaptation to prospective exten-ers. Others there are, we feel assured, receiving and forwarding sion, the Winchester Railroad holds oui which will meet the views of a rigid econo

agents, on account of transim nediale and posit ve benefit to our coun.my, and in pronouncing upon their meriis

portation of passengers and try and early reinuneration to the stockhold-generally, ii might be well to institute a

tonnage,

8,371 12 ers. The receipts of th company up to the comparison between the condition and cost For amount received by 1 t inst. a period of litile more than four of our road and other similar works else

receiving and for. months, have amounted to $16,656,87; and where-the means for which are within the

warding agents lal they been charged only with the ex. reach of alınost every stockholder. Such same account, and pen es proper lo tra isportation and inciden-Jis tie state of the underiaking, which has

disbursed by them ia' repiirs together amounting to atout' urawn :0 largely upon our interests and ex. for the use of the $7000, a nell profil might have been divided, ertions At firsi conceived far beyond the Company,

4,555 09 among the stick holders of more than six resources of our community, it has neverpor ceni. per annum. The obligation rest- theless been accomplished. Many dificul-Making the total amount of re. ing upon the company previous io the open.ties have occurred in iis prosecution, which

ceipts by the Company, for ing oi the road, and ihe heavy demands on its most calculating fri nds did not foresee, transportation of passenger a count of a portio of it not yet entirely but they have been surmounted. Some 1 and tonnage, from the open. fin shed at the Ferry, compilled the Board is early opponents have been agreeably ing of the road, (14th March,) to d v pl all the available proceeds, from disappointed by its results, while, with re. to first of July, 1836, that what migit appear 10 sine of the stock. Igre!, we count many of its warmest sap being the time to which the hulders their legitimile object, namely, dis. porters, whom Providence has not permii. accounts are made up,

12,926 21 tribution among them in the shape of a iel to witness the consumvation of their dividend.

enlightened exeruions. It has had iss days | Total amount of receipts for the Much of the stock has remained for a lui excitement, of gloom, and of triuinpb. year ending July 15, 1836, considerable time durmant, but 10 atienpiA variety of opposing interests have some. with the exception of the to render it productive by a recourse to tometimes assailed it wiih ihreatening efteci, amount received for transpor. porary bank fa: ties, appeared to the Di- but it now stands erect. Its promised be: tation of passengers and ton. rectors, and it is thought the reflecting cfiis have appeared long in comiog, bui they nage between the 1st and 15th stockholders w ll agree with them, a policy will steadily advance, and be sure, for they of July, an account of which of very questionable propriety. The pa ;-|| will flow ihrough a thousand channels has not yet been rendered by meni ot the delt is the appreciation of yet unopened. And when the tvil and dis. the agents,

163,116 59 the stock of any company, and although appointinent, and pariy bickerings which to which add the amount of the that desirable obj ct is besi attainrd by ma. autend the first stages of such a work are balance of cash in the Trea. king a dividen 1, it would app, ar to be a forgotten, it will grow in favor, and every surer's bands to the credit of forced and injudic ois mide of financet di part of Western Virginia feel its raving in the Cornpany, on the 15th of so, until the floating debts of the company fluence.

July, 1835,

3,577 44 were paid, or converied into a loan of some Mr. Sherrard, from the Committee on Fi permanency. The lat'er arrangement it is rance, made the following Report : And it makes the whole amount thoughi can easily be made, wben the char. Th· Committee of Finance resprctfully received during the past fiscal acter and prospects of the work are some ask leave to submit the following repori year including the balance in what established, and its ability to meet its showing the receipts and disbursemenis of the Treasurer's hands at the current demands and pay with promptitude the Company for the fiscal year ending the close of the preceding year, $166,694 03 interest upon its bonds, is beyond all doubl. 15th of July, 1836 :

on

DISBURSEMENTS.

TRANSPORTATION UPON THE ROAD.

DWNWARDS.

UPWARDS.

PASSENGERS.

489

This apparent anamoly of the disburse- || Land damages,

36,200 41 Amount disbursed by the Trea.

ments of the company exceediug 118 re. Expenses for Depot at Winsurer from the 151h July, reipts, will be explained at once, by recur. chester,

7,185 35 1835, to 15th July, !E36, in ring to the fart, that whilst the account o! Do. for motive power,

3,097 91 clusive, $162,037 17|| lisbursemenis is brought down to the t Do. for superstructure,

114,514 99 Amount disbursed by the re. 15th of July, the account of the re- | Interest on loans,

7,297 07 ceiv.ng and forwarding agents

ceipts of the receiving and forwarding Expenses of graduation and from the opening of the road igents is only rendered to the first of the

masonry,

199,439 52 up to the 1st of July, 1836, 4,555 09

same month, although the money received Do. of transportation, 2,061 82 by them since that time has been in part Do. for timber,

72,913 73 Making the total amount of displaced to the credit of the company in Bank Taxes,

1 42 bursemenis, $165,592 26|and appropriated to meet demands upon it. Contingent expenses,

1,613 17 The phrase "ascertained liabilities" emWhich, being deducted from the ployed by the committee ini ibe foregoing

$486,926 47 receipts, leaves all the Trea

statement, is designed to refer to its actual surer's hands, on the 15th of

existing liabilities, as distinguished from STATEMENT OF TRANSPORTATION AND TON. July, 1336, a balance to the

such as are yet unascertained, or unprovi. NAGE UPON THE WINCHESTER AND POTOcredit of the Co.npany of

$101 77 ||ded for, such as land damages in cases MAC RAILROAD, FROM THE 14TH OF MARCH To which add the balance of

where the amount is not yet determined, TO THE 31st JULY, INCLUSIVE. bonds in his hands at that

outstanding demands upon the company time uncollected,

941 85 which remain to be adjusted ; and, in short, Interest on bonds to same time, 3 41 all expenses which bave been incurrid, but tor which the accounts have not been pre

15,771.1 barrels of Flour. Lerves the total balance in the sented and paid,

11,450 bushels of Grain. Treasurer's hands, on the

2,379 busbels of Meal. The committee believing that it would not 151 of July, 1836, to be carbe unacceptible to the stocklolders to be

97 T. 156. 3qrs. 19lbs. of Iron. ried to the credit of the Comput in possession of the amount of the dis

60 T. 19C. lyr. 51bs. of Lead. pany for the ensuing year, $1,047 06 | bursements of the company, from the com

2.57 T. 10C. Iqr. 4lbs. of other Merchan

dise. mencement of the survey made by Capt. The cornmillee have carefully examined || Graham and his corps of engineers, up to the warrants and voucliers, upon which the line close of the last liscal year, on the 15ili

202 T. SC. lqr. 5lbs. of Plasier. various items of disbursement, cuiupre- July. 1:36, bave caused a statement to be

2,923., barrels of Fish. lended in the foregoing general staiement prepared by the clerk of the board, which

2,6753 bus jels of Salt. Diave been made, and tind them all in proper accompanies this report, slowing as well

1,310 T. 100. 3qrs. 10ibs. of other foon, and duly authenticated, in the manner the total amount of disbursements up to Merchandise. prescribed for that purpose.

that period, is the several heads under which Withoui a word of explanation from they were made. Tory will only add, that

No.

Amt. Fare. committee in regard to the aggregate it any stock livider should think the intor- March, Down, 212 amount of receipts and expenditures as sta. nation ibus furnished not sufficiently mi. Up,

224 ted above, the stockholders would be misleci lute, it will give the committee great plea.

436 $612 45 as to the actual expenses of the company ure to supply the deticiency by producing April, Down, The sum of $7024 50 should be deducted the books of the company and submitting Up,

570 from the accounts of receipts and disbarse them to his inspection.

1059

3,458 66 ments respectively. That amount was bor.

J. H. SHERRARD, May, Down, 573 rowed froin one of the Banks in Winchester

J. SENSENEY.

Up,

634 and was of course credited to the Company August 5, 1833.

1207 1,613 71 in the Treasurer's account ot'receipis; and

June, Down,

501 when the debt thus created was afterwards || EXPENDITURES BY THE WINCHESTER AND P..

Up,

596 paid off, it was charged to the account o! RAILROAD COMPANY,

1087 d'sursements. Tuis amouit be.ng de COMMENCEMENT OF ITS OPERATIONS TO THE July, Down, 736 ducied, the receipts of the yer would be 15TH OF JULY, 103li.

812 reduced 10 $159.569 53, and the disl'usp. Expenses of surveying by Capt.

1548 1,969 51 ments to $159,567 76, withont atfering the Graham and lus corps,

$1,123 33 balanre to the Company's credit in the Expenses of printing,

535 00

Total,

5337 $7,996 18 Jiands of the Treasurer, at the close of the Expenses for bowks and station.

AMOOUNT RECEIVED FOR TONNAGE. voir, which would stand as above stiited, at

ary

197 01 $1017 07.

March, At Winchester, $ 130 85
expenses for Depot at Harper's
Tive cornmittee might here close their re-

At Harper's Ferry, 299 48
Ferry,

1,087 37 port, but as the work. with the management Office expenses,

$730 33

12 50 of which, thery bave been charged, in com. | Postage account,

Apri', At Winchester, 1,900 44

110 84 non with thvir colleagnes of the Board of Expenses oi location and engi

At Harper's F., 1156 64 Directors, for the past year, is now rapidly

3,057 (8 neering, viz : drawing to a cluse, it will not be thoughi

Miny, At Winchester, 1,768 05

Salaries oí engineer and as. out of place, perhaps, to state, so that it may

At Harper's F., 1,198 93
sistants,
19,100 56

2,957 58 le seen at a single glance, the libuities of

*Otuer expenses,
7,339 77

June, Ac Winchester, 606 88 the Coinpany and its disbursemenis in the

26,440 S3 execution of the work, so far as the same Salaries of President and other

At llarper's F., 420 37 hive been asorriaineda

21 21 officers,

3,900.00

Ai Thompson's, Its ascertained liabilities are

1,054 56 Office rent,

210 00 To the stockholders, for capital

Real estate at Winchester and stock $300,000 00

distinction in his drasts, but included all in Harper's Ferry,

4,411 00 To bks and individuals, for

Law expenses,

451 25

graduation and masonry. This item in. mouvy loaned for the use of Expenses

cludes, indeed, only the wood work, gen

of constructing the Company, 171,500 00

erally, of bridges. bridges,

4,033 33 Tolhe stockholders, for balance

* This item only includes passenger and in the Treasurer's bands,

See next note. 1,047 06

burthen cars.

*In this item is included the expense of Tu do. for receipts for passen.

In this item is included 53,000 dollars, nathematical instruments, horses, chain paid for bills of exchange remitted to Eng. gers and tonnage,

12,926 21

carriers, office rent for engineers, fuel, sta- land to purchase iron," locomotives wheels 485,473 27tionary, board of hands, &c., &c.

und n.ountings for cars, spikes, &c. Not Iis disbursements to 15th July,

| This item does not show the whole ex. having received the full statement of those are,

436,926 48 pense of constructing bridges-it shows purchases, the whole amount of ibat remit.

only the cost of bridges under separate con iance stands charged to expenses of super. Leaving an apparen excess of

tracts. Where bridges were made by con. structure. disbursements over receipts tractors for sections of the road where

LEMUEL Bent, Clerk. of

$1,453 21 bridges are situa:ed, the engineer made no Win. and Pot. R. R. Office, Aug. 2, 1836

TOMAC

FROM THE

1,411 85

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