STATE OF NEW YORK. NEW YORK AND ERIE. NEW YORK AND HARLEM. NEW YORK AND NEW HAVEN. PLATTSBURG AND MONTREAL, POTSDAM AND WATERTOWN. ROCHESTER AND GENESEE VALLEY. SYRACUSE, BINGHAMTON & N. YORK THIRD AVENUE, (New York City.) TROY AND BENNINGTON. TROY AND BOSTON. TROY AND GREENBUSH. TROY AND RUTLAND. TROY UNION. UTICA AND SCHENECTADY. WILLIAMSPORT AND ELMIRA. The Railroad first constructed in the State of New York was the Mohawk and Hudson. It was chartered in 1826, and its construction commenced in 1830, and completed in 1831. It was one of the first in the United States on which locomotive power was used, two engines having been placed on it soon after its opening. It was constructed with inclined planes, worked by stationary engines near each terminus, with inclinations of one foot in eighteen. The plane near Albany was 3,102 feet long; that near Schenec tady 2046 feet. The rail used was a flat bar, 9-16ths by 24 inches, laid upon longitudinal sills. The planes were removed in 1844, when the road was re-constructed. In 1847 its title was changed to the Albany and Schenectady, and in 1853 it was consolidated into the New York Central. For the earlier years of its history it paid nothing to its stockholders, the greater portion of its earnings being used in the maintenance and re-construction of the road. The second road constructed was the Saratoga and Schenectady, which was commenced on the 1st September, 1831, and completed on the 12th July, 1832. It was rudely constructed according to the standards then existing, with flat bars laid upon longitudinal sills. It was an unproductive work till 1851, when it was leased to the Rensselaer and Saratoga Company at an annual rental of $30,150. The railroad next undertaken was the New York and Harlem, of which about one mile of that road in the city of New York was opened in 1832. This road was not finally completed till 1852. It has not been productive on its common stock, having paid its holders dividends equalling only 0.8 per cent. It has a valuable entrance into the city of New York, and, in connection with the Western, forms a line between that city and Albany. In 1834, two roads, the Buffalo and Black Rock, 3.34 miles long, and the Ithaca and Owego Railroad, 28.76 miles, were opened. The former was a cheaply constructed road, and was abandoned on the opening of the Buffalo and Niagara Falls Railroad. The Ithaca and Owego Railroad was, at the time, regarded as a work of great public interest and importance. The State loaned its credit to it, to the amount of $315,700, which, with the interest accruing, was nearly a total loss-the road being sold at auction by the Comptroller of the State in 1842 for $4,000, and re-organized under the title of the Cayuga and Susquehanna. For many years after its construction it was entirely unproductive. It has been since re-constructed, and leased to the Delaware, Lackawanna and Western, at an annual rental of $54,000. In 1835, the Rensselaer and Saratoga Railroad was opened, its construction having been commenced in 1833. This has been a successful work, having annually returned to its shareholders, since 1843, dividends at the rate of 5.6 per cent. In 1836, 89 miles of railroad were opened-the Brooklyn and Jamaica 11 miles, and the Utica and Schenectady, 78 miles. The Brooklyn and Jamaica was leased from its opening to the Long Island Railroad Company, at an annual rental of $33,300. This lease is about to be cancelled, and the road consolidated into the Brooklyn Central and used as a city or horse road. The Utica and Schenectady was consolidated into the New York Central in 1853. It was one of the most productive railroads in the country, having paid dividends averaging 10 per cent. per annum. In 1837, 72 miles were opened-the Buffalo and Niagara Falls, 22 miles; the Lewiston, 3.50 miles; the Long Island, 15.06 miles, and the Tonawanda, 31.50 miles. The Buffalo and Niagara Falls Railroad was a productive work, paying dividends at the average rate of 7.3 per cent. In 1855 it was consolidated with the New York Central. The Tonawanda Railroad was consolidated with the Attica and Buffalo into the Buffalo and Rochester in 1850. Previous to the consolidation, it paid dividends averaging 4.50 per cent. In 1853, the joint line was consolidated into the New York Central. The Lewiston was operated for some time by horse power. In 1854, it was extended to the Buffalo and Niagara Falls Railroad, and in 1855 it was consolidated into the New York Central. The Long Island Railroad was not finally completed till 1844. Toward its construction the State loaned its credit to the amount of $100,000. The road has paid nothing to its stockholders. In 1837 no railroad was opened. In 1838 53.47 miles were completed, the Auburn and Syracuse, 21.97 miles, and the Hudson and Berkshire, 31.50 miles. The Auburn and Syracuse Railroad was merged, in 1850, into the Rochester and Syracuse, and in 1853, into the New York Central. It was a productive work, paying dividends averaging 8 per cent. Toward the construction of the Hudson and Berkshire Railroad, the State loaned its credit to the amount of $150,000, which became a total loss, as the road was sold, in 1854, under the foreclosure of a mortgage taking precedence of the State lien. It was purchased by the Western Railroad Company of Massachusetts, by which the western portion has been re-constructed, under the name of the Hudson and Boston. The portion east of Chatham has been abandoned. In 1839, 57.15 miles were opened-the Syracuse and Utica, 53 miles, and the Auburn and Syracuse (extended), 4.15 miles. The Syracuse and Utica was consolidated into the New York Central in 1853, after having paid dividends averaging 10 per cent. In 1840 no additional mileage was opened. In 1841, 167.23 miles were opened, viz: the Auburn and Rochester, 78 miles; the Blossburg and Corning, 14.81 miles: the New York and Erie, 46.13 miles, and the Albany and West Stockbridge, 23.13 miles; and the Long Island was extended 5.16 miles. The Auburn and Rochester was consolidated with the Auburn and Syracuse into the Rochester and Syracuse, in 1850, and the joint line into the New York Central in 1853. Both roads were productive, paying dividends averaging 8 per cent. The Blossburg and Corning, which was operated many years without profit, was re-constructed in 1852, and leased to the Tioga Railroad Company of Pennsylvania at an annual rental of twothirds of its gross earnings. The Albany and West Stockbridge was constructed and is owned by the Western Company of Massachusetts, forming a part of its line. The New York and Erie was finally completed in 1851. For account of this road reference is made to the statement in the body of this work. In 1842, 97.91 miles were opened-the Attica and Buffalo, 31.95 miles; the Schenectady and Troy, 20.50 miles; the Albany and West Stockbridge, 15.12 miles; the Tonawanda, 12.04 miles; the Long Island, 11.94 miles, and the Harlem, 6.26 miles. The Attica and Buffalo and Tonawanda Railroads were consolidated in 1850 under the title of the Buffalo and Rochester, and were united with the New York Central in 1853. The connection of these roads completed the line between the Hudson River and Lake Erie. The Attica and Buffalo was a productive work, paying dividends averaging 9 per cent. The Schenectady and Troy was operated at a loss till 1853, when it was consolidated into the New York Central. In 1843, 12.11 miles were opened—the Skeneateles and Jordan, 5.27 miles, and the New York and Erie, 6.84 miles. The Skeneateles and Jordan was used as a horse railroad for several years and then abandoned. In 1844, 66.81 miles were opened-the Long Island being extended 54.81 miles, and the New York and Harlem 12.00 miles. In 1845, the Troy and Greenbush, 6.00 miles, was opened. In 1851, it was leased to the Hudson River Railroad Company for 999 years, at an annual rental of 7 per cent. on its cost. It had previously paid dividends at the rate of about 3 per cent. In 1846, the New York and Erie Railroad was extended 6.00 miles. In 1847, 37.33 miles of road were opened-the New York and Erie being extended 12.08 miles, and the New York and Harlem 25.25 miles. In 1848, 104.66 miles were opened—the Oswego and Syracuse, 35.91 miles; the Saratoga and Wasnington, 28.34, and that portion of the New York and New Haven in the State of New York, 14.14 miles, and the New York and Harlem was extended 28.91 miles. The Oswego and Syracuse Railroad has been productive, having paid its stockholders dividends, in cash and stock, averaging 64 per cent. The Saratoga and Washington was sold in 1855, under process of foreclosure, and re-organized under the title of the Saratoga and Whitehall. It has been almost entirely unproductive to its stockholders, having paid dividends at the rate of only 1.10 per cent. In 1849, 310.36 miles were opened-the Hudson River, 66.09 miles; the Northern (Ogdensburg), 15.06 miles; the Watertown and Rome, 18.11 miles; the Chemung, 17.36 miles, and the Erie was extended 193.74 miles. The Hudson River Railroad has thus far paid nothing on its stock. The Northern has proved an unfortunate enterprize, and was sold in 1856 upon a process for the foreclosure of its second mortgage, for $1,500,000; the purchasers organizing a new company under the title of the Ogdensburg Railroad Company. It has earned the interest on its first mortgage bonds. The Watertown and Rome has been a productive work, having paid dividends averaging 7 per cent. The Chemung Railroad was leased to the Erie for 10 years from its opening, at an annual rental of $36,000. On 1st January, 1859, a new lease for 20 years was executed, with a rental of $30,000 annually In 1850, 168.48 miles were opened-the Northern, 42.86 miles; the Water town and Rome, 24.00 miles; the Hudson River, 8.62 miles; the Saratoga and Whitehall, 18.88 miles; the Erie, 69.27 miles, and the Cayuga and Susquehanna, 5.85 miles. In 1851, 385.92 miles were opened. The Canandaigua and Corning, 46.84; the Buffalo, Corning and New York, 44.74; the Troy and Rutland ̧ 17.27; the Watertown and Rome, 30.08; the Ogdensburg, 50.20; the Hudson River, 69.01, and the Erie, 127.78 miles. The title of the Canandaigua and Corning was changed, in 1850, to the Canandaigua and Elmira. In 1858 the road was sold for $200,000, on the foreclosure of its first mortgage, and a new company organized under the name of the Elmira, Jefferson and Canandaigua. On the 1st January, 1859, it was leased to the Erie Railroad for a period of 20 years, at an annual rental of $30,000. The Buffalo, Corning and New York Railroad went into the hands of its first mortgage bondholders in 1856, who foreclosed their mortgage, and in 1857 sold the road to the Buffalo, New York and Erie Railroad Company. The Troy and Rutland Railroad was leased for the period of its charter to the Rutland and Washington Railroad of Vermont, at an annual rental of six per cent. on its cost. The amount has since been reduced to $16,000 annually by an agreement between the companies. In 1852, 407.93 miles were opened. The Buffalo and State Line was opened 27.34 miles; the Buffalo and New York City, 91.50 miles; the Plattsburg and Montreal, 23.17 miles; the Rochester, Lockport and Niagara Falls, 76.50 miles; the Sixth Avenue (New York City), 3.71 miles; the Troy and Bennington, 5.38 miles; the Troy and Boston, 32.56 miles; the Williamsport and Elmira, 8.00 miles. The Buffalo and Rochester Railroad was extended 4.49 miles; the New York and Harlem, 50.51 miles; the Northern, 60.20 miles, and the Watertown and Rome, 24.57 miles. The Buffalo and State Line was fully opened in 1853, and has been a productive work, having paid dividends averaging 9 per cent. The Buffalo and New York City failed to pay its interest falling due on the 1st of July, 1854, and its affairs have since been involved in litigation. The western division of the road, 314 miles long, was sold under a process for foreclosure; the purchasers sold the same to the Buffalo, New York and Erie, and it now forms a part of a new road from Buffalo to the New York and Erie; the division from Attica to Hornellsville, 60 miles, is run as a branch of this road. The rights of the several classes of creditors of the Buffalo and New York City Railroad are being made the subject of legal adjudication. The Plattsburg and Montreal Railroad has probably been run without profit since its opening. It was sold in 1858 for $150,000, under a process for the foreclosure of its first mortgage. It is still operated by trustees appointed by court. The Rochester, Lockport and Niagara Falls Railroad was consolidated in 1853 into the New York Central. The Sixth Avenue Railroad has paid annually 8 per cent to its |