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AND

EGAN RAILROAD JOURNAL.

freon MANUE‘ACTURER’S AND MINING GAZETTE.  

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ESTABLESHED 1 8 3 1 .

PUBLlS’E:{lt3D VVEEKLY, AT NO. 48 SOUTH T1-HRD S'I‘REET, PHILADELPHIA, AT FlVE »DOLLARS A YEAR, lN AD VANCE.
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Snoom) Q.UAR'[‘O_Sl-IRIES, VOL. IV, No. 46.]

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s.Ai‘UaT3VAi’, NO

 

EMBER 11, 1848

   

[WHOLE No. 657, VQL. XXI. '

PR.INCIPA.L C ONTENTS.

Schuylkill Navigzuion Company . . . . . . . . . . . . . .721

The Western, or Boston and Albany Railroad..7:2l
Railroads in Cuba . . . . . . . . . . . . . . . . . . . . . . . . .3722
Northern, N. Y., Railroad Report . . . . . . . . . . . .3723
Cheshire, N. I-I., Railroad Report. . . . . . . . . . . . .725
Heavy Locomotives . . . . . . . . . ., . . . . . . . .0 . . . . . ..727
Branch Railway Trailic and Light Engines . . "728
The Miner’s Satety Lanthorn . . . . . . . . . . . . . . .3728
Buffalo and Niagara Falls Railroad . . . . . . . . . ..728
Gas from Water....      ....'738
Saraloga and Schenectady Railroad . . . . . . . . . . .729
Atmospheric Railway . . . . . . . . . . . . . . . . . . . . . . .729
Railway Villages . . . ., . . . . . . . . . . . . . . . . . . . . . ..'720
VVrougl1t Iron Railway Bridges . . . . . . . . . . . . . . 729
Accidents on Railways ._ . . . . . . . . . . . . . . . . . . . ..'7'29

1

AHIERIQAN RAILROAD. JOUR,NA;L. ,

PUIILISIIEDS AT 4-8 S. Tilllil) ST., l‘HILADELl’HIA.

Saturday, Novcxnher; I1, .l8!&8.

R AIL R0 AD IRON.

@'—VI‘IE MOUNT SAVAGE [RON WORKS,

Allegheny County, Maryland, having recent-
ly passed into the hands of new proprietors, are now
prepared, with ‘increased facilities, to execute orders
for any of the various patterns of Railroad Iron.-
Comrnunications addressed to either of the subscri-
bers will have -prompt. attention. ,

c J. 1?‘. WINSLOW, President
Mount Savage Iron Co., Troy, N. Y

This would reduce that loan to $1,800,000, and les-
sen, in the aggregate, the company’s indebtedness
$52,150,000 -reducing the companies present liabili-
ties for loans from $7,000,000 to something less than
$5,000,000. This plan of relief may aid thcm,it'
carried outl but it will not be a cure for their diflicu1-
ties, which are mdical, and can only be removed by
an amicable and equitable understanding with the
Reading railroad company, by which a fair and re-
munctaling rate of tolls shall be charged on both‘ of
these noble works. Nothing short of this will re-
store the Schuylkill navigation company to prospe-
rity and to credit-—and the s/tarcltoldcrs ought to re-
quire the managers totaccomplish this object, or sc-
ie‘crorhcrs who will doit. — A V t -
gig’ Since the above was in type we have received
the “ Commercial List,” of Saturday last, by which
we are informed that an arrangement has beenvmczdc
etween the Schuylkill Navigation and I-leading,
Railroad companies‘, which promises to prove ad-
vantageous to the stockholders'ot'» both companies.
The editor of the “List” congratulatesthe friends of
both these great and important works, that this ar-
rangement has been consumngtted. So do we.
The following statement, which we copy from that
excellent‘ paper, embraces the principal points in the
arrangement, which is to take effect on the 1st of
January next, and continue until January, 1850 :—-

EIIASTUS CORNING, Albany. -

WARREN DELANO,,J‘r., N. Y,

. JOHN M. FORBES, Boston.

0 ’ ,ENO(_‘tH PRATT, Baltimore, Md.
November 6, 1848.

Schuylkill Navigation Company.
t There was, as-we understand, a general meeting

of the stockholders and bondholders of this company,
held a short time since, the object of which was tot

agree upon some plan calculated to relieve the com-
pany from the embarrassments with which it is‘ sur-
rounded. The substance of the“ propositions sub-'
mitted for consideration‘ was asifollows: That the
holders of the loan of 1865 which amounts to about
$1,400,000, should agree to commute it at the rate
of 75 per cent. in new bonds, and 25 per ct. in stock
at par. That is, for every old bond oft$1,000 sur-
i'endered,‘the holder to receive a new bond for $750
and $250 in the shares of the company at their par
price. This would reduce the loan of 1865 to about
$51,050,000. The loan of 1868, which ‘amounts to
83,600,000, to be commuted at the rate of 50 per ct.

and 50 per ct. in the shares of "the company at par.

“There is to be no increase in the machinery or
wharves of the railroad company, between this pe-
riod and January 1, 1850.

“The price to be charged tor toll and treigltt on
the railroad, from Pottsvillli to this city, is to be 95
cents per ton more than the charge for freight on the
canal, from the same point; and the price for toll
and freight for the way trade on the two works, are
to ‘be in proportion. The tolls anrlfreiglit on the
railroad, and the tolls on the canal, are to he paid in
actual cash; and no discount is to be paid by either
party, except 5 per ct. for wastage, and a dumpage
of 12 cents per ton on coal dcliveredat Richmond;
said dumpage not to be allowed on more than two-
thirds of the quantity received. '

“ N 0 direct or indirect bounties or allowances are
to be made by either party, nor are any special bar-
gains to be made by which the operators Willbc
compelled to use either work exclusively.

“The quantity of coal to bebrought down in 1849
from theschuylltill region, is estimated at 1,800,000
tons ; g and it is supposed that the above arrangement
will secure to the railroad twelve hundred ‘thousand,

and to the canal sin: ltmtclrezl thousand tons, or one- v‘
third ofthe whole amount. The canal company is
to beat liberty, if they should find it necessary in
order toaccommodate their estimated portion of the
trade, to increase their cars and landings to the ex-
tent of 20 per cent. on their previous facilities.

“ The price charged for toll on cool on_ the canal,
is to be 75 cents per ton, and the toll and freight on
the railroad $170 per ton from Pottsville to this city.”
The Wcsler)I—,.~o—::-i§><:t3‘tr¢;‘in_ and Albany Rail.

Road.

"We are not only prompted to publish this memoir

as a chapter of railroad history for the future histo-

rian, and also by way of encourzzgevrwéw to companies

” now iaboring under embarrassment, but also to place

on record another among the mmteraus instances in
which individual efforts, and personal sacrifices-—
greatly lauded, and appreciated, at the moment of
otccessiiy-—are forgotten, and remain unrequited, by
those who have been largely benefitted by those ct‘-
forts and sacrifices. ,

The press of other matter on hand compelled us
to divide No. l. ofthe memoir, and we now give its
conclusion. No.2. will follow at an early day—-
showing the efforts required to carry the work ‘thro’
to Albany, and bring it wholly under Boston man-
agemr,-nt——and it will be found well worthy Aofatten-S
liveperusal. . -

[No. 1.], ,
Qontinued from page 707.= V

In obedience ‘to the orders of the com mmittee, the
inventor of the loans to the Western railroad has
penned the above brief history of the plan, the suc-
cessful exeeution of which has rescued the Western
railroad from shipwreck—of the plan, the successful
execution of which, has saved the patriotic citizens,
who, with enlightened forecast, have sustained it
from being pointed at by-the finger of scorn of their
less far-seeing fellow ;citizens ; which has saved the -
commonwcalth,with at ha_lf‘-(inished ‘and profitless
iron river, trom being the butt of the like scoff, scorn,
and ridicule, which is now cast upon many of the
great works of internal improvement of our young
giant of the west. '

In presenting the history oi this plan, agreeably to
the orders of the committee, it has been the”aim,_,of
the inventor to give, unadorned, historical facts, in
their simplest shape. He has spoken of himself as
he would of a stranger, while writing the history. of
a great event; of an event, which, according to the

public voice, (since the declaration of independence,