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4t^ /J, T/>L . '1^^ '^* ^'' ^ 
 
 HAMILTON & PORT DOYER RAILWAY. 
 
 •♦• 
 
 REPORT 
 
 OF THE 
 
 PRESIDENT AND DIRECTORS 
 
 TO THE 
 
 SHAREHOLDERS. 
 
 PBINTBD AT THE " SPECTATOR OFFICE, COURT HOUSE SQUARE. 
 
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HAMILTON & PORT DOVER RAILWAY. 
 
 DIRECTORS' REPORT 
 
 TO THE SHAREHOLDERS AND THE CITIZENS OF HAMILTON AND 
 THE PUBLIC, GENERALLY, INTERESTED IN THE LINE. 
 
 Shortly after the election of the present Board of Directors, 
 on the 11th day of June last, they issued an address to the citizens 
 of Hamilton, and other Municipalities interested in the construc- 
 tion of the Hamilton ane Port Dover Railway, in which they set 
 out the prominent features of the Line, and the advantages which its 
 construction promised to this City and the Country through which 
 it will pass. The appeal then made for public aid to a work 
 which, in the opinion of the Directors, promised such important 
 advantages to this City in particular, as well as the people on the 
 line, was immediately responded to by a unanimous vote of the 
 then City Council of £50,000, to be invested in the Company's 
 Stock, which vote was, with but one dissenting voice, confirmed 
 by the rate-payers at the public meeting called for that purpose. 
 
 The Village of Caledonia, following the example of our City, 
 subscribed £10,000, under the Municipal Loan Fund Act, which 
 however, being exhausted, that Municipality )C obliged to change; 
 and a new by-law iu< » (j piuu ewt4wfe«> ( the rate-paye^ Jfor that 
 purpose. A^tu /tA^t-J /tc^-^^^-x^-e^tC -rt^LT^a^iuZ^^Z e^ 
 
 The Township Council of Walpole, also voted for subscribing 
 £15,000 to the Capital Stock of the Company, which, however, 
 was not confirmed by the rate-payers, owing to the divisions which 
 existed among them on account of the uncertainty of the route, 
 which the line might tal'e through their township. Since the 
 location of the line, the directors have assurances that a majority 
 of rate-payers will redeem the character of their Municipality, by 
 a liberal grant towards a work in which they have a deeper in- 
 
 \ 
 
 t^ 
 
r 
 
 terest, if possible, than any on the line. In addition to the Mu- 
 nicipal subsciptions alluded to, there has been £33,800 of private 
 Stock subscribed, which amount the Directors still hope to in- 
 crease considerably. To this may be added £60,800 agreed to be 
 taken by the contractors, Messrs. Moore, Pierson & Co. 
 
 The progress which the Directors made at the commence- 
 ment in obtaining subscriptions to the Stock of the Company was 
 such as, in their judgment, warranted them in employing the ser- 
 vices of a competent Engineer, to make surveys and report upon 
 the best route for the location of the line. They accordingly en- 
 gaged John L. Hodge, Esq., a gentleman who has had much ex- 
 perience in locating and constructing Railways, both in Britain and 
 this Country, where he has been several years engaged in his pro- 
 fession as Civil Engineer. Mr. II. was at first ordered i^ survey 
 two routes — one by Caledonia and the other by Cayuga ; and sub- 
 sequently a third via Waterford and Simrae. The great length 
 of the latter line over the others, however, precluded the Directors 
 from entertaining it as a feasible route. 
 
 The leading facts contained in Mr. Hodge's report will be 
 iound embodied in the present statement of the Directors. 
 
 The cost of these several surveys, together with £1,300 paid 
 to R. G. Benedict, Esq., for a survey made by him under a former 
 Board of Directors, amounts to £2,702 lOs 2d. The Directors 
 have in addition to this sum, expended (chiefly in purchasing right 
 of way, and land for the purposes of the Railway,) £2,862 Is 
 which also includes printing. Parliamentary, and Office expenses 
 and salaries, and makes a total expenditure of £5,565 Os 2d. 
 
 The late period at which Mr. Hodge was able to complete 
 the several surv^s referred to, and the fact that the Company's 
 charter would expire in th^aaen th- ef" A pril, unless £50,000 were 
 expended by that time, prevented the Directors froiia taking any 
 further active measures for endeavoring to put the Stock list on 
 such a footing, as to warrant the commencement of the work, un- 
 til an Act of the Legislature should be obtained to extend the time 
 for such outlay. This Act, the Directors are happy to say, receiv- 
 ed the Royal assent on Friday, the 16th instant, and they are now 
 enabled to re-commence operations. But before doing so, they have 
 deemed it proper to submit a full statement of their proceedings 
 up to this time, as well as to lay before the Shareholders and the 
 
8 
 
 B Mu- 
 rivato 
 to in- 
 itobe 
 
 nence- 
 ly was 
 he ser- 
 upon 
 gly en- 
 uch ex- 
 am and 
 lis pro- 
 survey 
 nd sub- 
 length 
 irectors 
 
 will be 
 
 00 paid 
 
 1 former 
 directors 
 ing right 
 J,862 Is 
 expenses 
 2d. 
 
 Bomplete 
 •mpany's 
 DOO were 
 iking any 
 ek list on 
 work, un- 
 i the time 
 ly, receiv- 
 Y are now 
 they have 
 'oceedings 
 rs and the 
 
 public interested, a recapitulation of the arguments in favor of the 
 line. 
 
 In the month of January, the Directors having received com- 
 plete plans and specifications from their Engineer, and feeling 
 that unless they had somf) substantial reasons to offer to the Leg- 
 islature in favor of the extension of their Charter, as well as to be 
 prepared for an early commencement of the work, unanimously 
 resolved upon letting the construction of the whole Line to some 
 thoroughly practical and responsible firm of Contractors. They 
 accordingly advertised for tenders, and ten different parties made 
 offers for doing the work. After mature consideration, and tho- 
 roughly weighing the character, responsibility and practical expe- 
 rience of those who tendered, as well as the prices specified, the 
 Board decided, with only one dissenting voice to award the con. 
 tract to Messrs. Moore, Pierson & Co., already so favourably 
 known in this city ; the tender of these gentlemen being the lowest 
 but two, of thos ejhat were admissable. The following extract 
 from the contract entered into will show the nature and extent of 
 the work to be performed by the contractors. "And it is h*iveby 
 declared, that i<he work intended to be comprised in the co tiact 
 shall consist of all the necessary excavations, piling, embankments, 
 masonry, bridging, trestle work, culverts, ditching, draining, coffer 
 dams, bailing, road crossings, cattle guards, fences, superstructure, 
 grading and ballasting, clearing and grubbing, with all necessary 
 sidings as herein atter provided, passing places and switches, and 
 all other matters for completing a first class Railway, with the 
 exception of the Machine shops, water tanks. Station Houses, turn 
 tables, wood sheds, engine houses, and all other buildings, iron 
 rails and rolling stock, which are not intended to be comprised 
 herein." 
 
 The work to be performed by Messrs. Moore Pierson <Se Co., 
 as above stipulated will cost £304,050, and the excepted items are 
 estimated to cost about £135,700 making the total cost about 
 £439,750 for completing the whole line 40^ miles ready for 
 traffic. When we take into account the heavy work of nearly one 
 fourth of the line, namely in reaching the summit of the mountain 
 and crossing the Grand River, including a high and expensive 
 bridge to admit of Steamers and other craft passing under, so as 
 to avoid a draw bridge, the Directors consider the terms of the 
 
i 
 
 contract most favourable for the interests of the Company, and the 
 more especially so, as the contractors have agreed to take £60,800 
 of stock in payment, which their means will enable them to hold, 
 without selling it at rates which might injure its value in the 
 market. 
 
 The cost of the whole work, upon the basis of the contract 
 with Messrs. Moore, Pierson & Co., (which has been very carefully 
 drawn, so as to avoid, as far as possible, all charges for extras) 
 will not exceed the estimates of either Mr. Benedict, or Mr. Hodge, 
 and will compare favourably with the cost of other lines in this coun- 
 try and the United States. 
 
 As to the quality of work and material the contract stipulates 
 as follows, that the contractors " shall construct and complete, in a 
 good substantial and workmanlike manner (and at least in as good 
 and substantial a manner in all respects as the Great Western 
 Railway,) the Hamilton and Port Dover Railway, &c., <fec. 
 
 The Directors beg to state that they have already made con- 
 siderable progress in securing the right of way, and have found a 
 number of the proprietors of land on the line disposed to deal 
 fairly and honorably in disposing of what the company requires. 
 Many of them having a just appreciation of the importance of the 
 undertaking, to their local interests, and believing that it will prove 
 remunerative, have agreed to accept stock in payment. This 
 enlightened feeling which has characterized the landed proprietors 
 in the United States so generally, it is to be hoped will be partici- 
 pated in by others on this line. 
 
 WAYS AND MEANS. 
 
 Setting the cost of the Railway and rolling Stock complete 
 at £439,750, it will be necessary to make allowance for discount 
 on bonds and interest during construction. These items cannot 
 be estimated at less than £45,250. It will, therefore, be neces- 
 sary to make provision for £485,000. With the present sub- 
 scriptions, and what may be reasonably relied upon being obtain- 
 ed from the Southern Municipalities interested, the Directors 
 hope to raise the Stock list to £200,000, without further 
 recourse to this City. Before, however, they would feel them- 
 selves warranted in commencing the work, they conceive 
 that the Stock subscription should reach about one-half of 
 
T) 
 
 the cost, so as to form a safo basis for tho issue of bonds, 
 upon which to raise the remainder. Upon such a basis the 
 Directors have received through their President, and also through 
 correspondents in London and Paris, assurances of being able to 
 negotiate tho Company's bonds upon favorable terms, to the ex" 
 tent of £260,000 to £300,000, so as to obtain a portion of the pro- 
 ceeds to expend along with the Share Capital. The only quarter, 
 at present, to which the Directors can look for further aid than 
 that referred to, is the Municipality of Hamilton. As the Stock 
 at present held by the City in the Great Western Railway, is like- 
 ly to prove a source of large profit, no one will question the abili- 
 ty of tho Cit, to subscribe an additional £50,000 or £76,000 in 
 the Stock of this Company. With such further aid, the Directors 
 can now see their way clearly to a vigorous prosecution of this 
 most important work for the interests of this City, and of the 
 South- Western Country. 
 
 SOURCES OF BUSINESS. 
 
 As a general thing, short lines of Railway do not prove re- 
 munerative to the Shareholders. It will, however, require but 
 little argument to convince, even the most incredulous, that the 
 Hamilton and Port Dover Line is an exception to this rule. — 
 Where short Lines connect important centres of commerce, or 
 form links in long Lines of intercom munication, they are just as 
 certain to command a paying business as the longest Railway in 
 existence. It would be quite as reasonable to assert that all long 
 Lines are profitable investments, as to argue that all short ones 
 are unproductive. After all, the only safe way of estimating the 
 value of a Railway, or any other line of transit, is by the connec- 
 tions it is intended to make, due regard being always had to the 
 course of trade. 
 
 Let us now apply these general principles to the Hamilton 
 and Dover Line, and inquire what are the objects which will be 
 attained by its construction ? These may be set down under four 
 heads. 
 
 1st. To facilitate and increase the local traffic. 
 
 2nd. To secure a portion of the freight and passenger busi- 
 ness of the Buffalo and Lake Huron Railway, and of the Grand 
 River. 
 
3rcl, To form a connection with tho proposed Great-Southern 
 Railway. 
 
 4th. To form a great Line of communication between Lake 
 Erie and Ontario. 
 
 As these are four distinct sources of business, it will be pro- 
 per, briefly, to consider each one in turn. 
 
 LOCAL TRAFFIC. 
 As yet, we are obliged to draw our estimates of traffic chief- 
 ly from the Railways in the United States, where the circumstan- 
 ces of trade and travel very nearly correspond with those of this 
 country, and where a larger experience has furnished more reliable 
 data than can yet be found in Canada. It has been ascertained in 
 New England, where several thousand miles of Rail way have been 
 opened long enough to developc the traffic of all kinds, that each 
 inhabitant contributes annually, on an average, $3 to the gross re- 
 ceipts for local traffic of all kinds. Applying this rule to the Ham- 
 ilton and Port Dover Railway, the Directors, in their Report issued 
 in June last, estimated tho population that would be tributary to it, 
 when it should be one year in operation at 110,000, which would 
 contribute $330,000 a year. Although this result might not be 
 realized the first, or second years, that the line shall be in operation, 
 there is no reason to doubt that it would bo in four or five years, 
 which is a period necessary to develope the local business of any 
 Railway. Let us apply the results thus far ascertained from the 
 opera-tions of the Great Western for the two years it has been 
 open for traffic, up to the 31st January last, and which does not 
 include the Toronto Branch, subsequently amalgamated. 
 
 Gross Local or Way Traffic of the Great Western 
 
 Railway. 
 
 Years ending, Passenger, Freight, Total, 
 
 3l8t January, 1855. .£126,890 £55,315 £182,205 
 
 31st " 1866.. 159,960 102,341 262,301 
 
 Increase £33,070 47,026 80,096 
 
 In order to show that there was no special cause for this 
 large increase in the local receipts of that Company, except the 
 natural developement of the business of the line, the Directors, 
 in their last Report, say, " It is satisfactory to observe that the 
 increased traffic of the last ha If-year has been confined to no one 
 
•ource, but that eaoh dopartinont of tho Compuuy's buBiness has 
 cuntributod to the gross increase." 
 
 It may now bo conCidently assumed that this hieio.so will 
 continue and be maintained for several years. For the three 
 months of the current year, which have elapsed, it has been con- 
 siderably exceeded. The following table will shew what tho 
 local receipts may be oxpectcd to reach, during the next three 
 years, at the same rate per annum, and assuming the same num- 
 ber of miles to be in operation : 
 
 Ycara oiiding. 
 
 31st Jan., 1856. 
 dlHt " 1860. 
 8l8t '• 1867. 
 8l8t " 1868. 
 Slst " 1869. 
 
 Grosa Uecoipta 
 Local. 
 
 £182,205 
 262,300 
 340,390 
 419,450 
 498,640 
 
 Receipts Would (?ive to the H. «& P't. 
 
 per mile. Dover Railway, (40 miles.) 
 
 £ 750 Istyoar, £80,000. 
 
 1,083 2nd " 43,320. 
 
 1,312 3rd " 66,480. 
 
 1,740 4th " 69,600. 
 
 2,068 6th " 82,728. 
 
 It may be questioned by persons unacquainted with the his- 
 tory of Railway Traffic in other Countries, whether this increase in 
 the local traffic receipts of the Great Western will be maintained for 
 so long u period as three years more. If it would not occupy too 
 much space, the Directors might bring an overwhelming muss of 
 evidence from the results of railways in other Countries, to 
 show that what they have predicated upon the operations of 
 the Great Western, is only what has occurred in a hundred 
 other cases. It will not, therefore, be in the least surprising to 
 ace the receipts of the Great Western, from local traffic alone, 
 reach £600,000 for the year, which will end on the 31st January, 
 1859, or about double the amount estimated for the entire gross 
 receipts for local and through traffic before the line was com- 
 menced. 
 
 The following table shewing the gross receipts of the New 
 York & Erie Railway for five years from its opening, is given as 
 an example of yearly increase : 
 
 1851 $2,359,870 70. 
 
 1852 3,537,766 53. 
 
 1853 4,318,962 36. 
 
 1864 5,369,958 63. 
 
 1856 5,488,898 37. 
 
 Again, it may be argued that the Country traversed by the 
 Great Western, is a richer and better settled country than that 
 which will be tributary to the Hamilton and Port Dover Line. — 
 

 I t 
 
 ii; 
 
 Such an argument, however, could only be adduced by per- 
 sons unacquainted with the facts. There is probably no part of 
 Canada so fertile, or so well peopled, with an enterprizing, intel- 
 ligent and hardy population, as the Counties of Norfolk and Hald- 
 imand. There are, besides, a number of rising Towns and Villa- 
 ges on, or near, the line — such as Caledonia, Port Dover and 
 Simcoe, besides numerous smaller ones. In fact, this fine country, 
 so little known to the citizens of Hamilton, only requires to have 
 proper facilities for reaching our markets, to become the garden of 
 Canada. It must be recollected that a very large extent of coun- 
 try on the Great Western Railway was a perfect wilderness wben 
 that line was opened, and that probably thirty or forty miles of 
 it is of such a swampy character as to preclude the prospect of 
 its being settled during the present generation. On the other 
 hand,there is scarcely a hundred acres, for many miles on both sides 
 of the Dover line, that is not either already under cultivation, or 
 susceptible of it. 
 
 THE BUFFALO AND LAKE HURON RAILWAY AND 
 
 THE GRAND RIVER. 
 
 The second source of business for the Hamilton and Port 
 Dover Railway will be that to be drawn from the above line. It 
 will obviously be the interest of that Company to make their con- 
 nection with Lake Ontario, by the Hamilton and Port Dover 
 Railway from Caledonia, inasmuch as it will enable them to use 
 between 26 and 30 miles more of their own road for all freight 
 north west of Paris, bound for Lake Ontario, instead of shunting it 
 on to the Great Western at Paris. Indeed by the time the Dover 
 line is completed the traffic of the Great Western will be so large 
 as to render it the less desirable for that Company to even com- 
 pete for any part of the freight passing to market over the Buffalo 
 and Lake Huron Railway. It will also open up a more direct 
 communication by way of Caledonia between this City and the 
 enterprising town of Brantford, us well as all the intermediate 
 Country between that town and Fort Erie and Hamilton. By 
 this route we shall also have opened up a more direct trade with 
 Buffalo as well as with Lake Erie via Dunville. It may be inter- 
 esting to state the fact, that, during the time that the Buffalo and 
 Brantford Line was in operation, freight was frequently brought 
 
9 
 
 AND 
 
 by it, from Buffalo to Caledonia, and thence by teams to its desti- 
 nation in this City. A considerable portion of the heavy iron 
 castings, used in the construction of the Anglo American Hotel 
 were brought to this City, by the above route. That these two 
 Railways, will be important feeders to each other no person 
 acquainted with the trade of this country can doubt ; and that a 
 very large amount of business will flow from that source upon the 
 Hamilton and Port Dover Line, advantageous alike to this City 
 and to the Company, cannot be doubted. 
 
 The Grand River will also contribute more or less to 
 this line. The large lumbering and milling interest for many 
 miles above and below Caledonia are not unworthy the con- 
 sideration of the business men of this City. Timber and 
 lumber have, of late years, greatly risen in our market, 
 owing in part to the distance it has to be teamed. There can be 
 no doubt that a very large business will be done by the Railway 
 in sawed lumber, drawn from the Grand River. The following 
 extract from the Directors' report last June will more fully eluci- 
 date the subject. 
 
 " The Lumber Trade of the Grand River, which will centre at 
 Caledonia, has become of such importance and magnitude, that it 
 merits special notice. The demand for lumber at Chicago, has 
 already had the effect of drawing the supplies from the Grand 
 River, so that the manufacturer has the choice of two great mar- 
 kets open to him. By means of the Hamilton and Port Dover 
 line, the great staple product of this section of Canada, may be 
 delivered with equal facility at Hamilton,where what isnot required 
 for local consumption, may be shipped to Eastern markets by way 
 of Oswego ; or via Port Dover, to supply the western demand." 
 
 THE GREAT SOUTHERN RAILWAY. 
 
 Perhaps one of the most important features in the Hamilton 
 and Dover line, consists in the connection that it will form between 
 the Great Southern Railway, which will undoubtedly be built 
 without any great delay, and Lake Ontario at Hamilton. The 
 Directors do not know that they can state the value of this con- 
 nection more forcibly than they have already done in the report 
 just referred to, which they therefore quote. 
 
 " The next thing to be noted, is the fact that the population of 
 the Southern tier of Counties, bordering on Lake Erie, now 
 
10 
 
 amounts to nearly 200,000.* This tract of country, which is un- 
 provided with railway communication, is over 200 miles long, and 
 of an average breadth of 20 miles. In the fertility of its soil, the 
 mildness of its climate, and the industry and energy of its inhabi- 
 tants, it is equal, if not superior, to any other given tract of equal 
 extent in the Province. 
 
 Hitherto, but a small share of the products of this fine sec- 
 tion of country, have found their way to our market, for want of 
 means of transit. A small amount of merchandize may have been 
 supplied by our merchants ; but, limited as our commercial in- 
 tercourse has been with the shores of Lake Erie, it will be seriously 
 affected by the Buffalo and Lake Huron Railway, which will cut 
 us off from much of the business south of the Grand River. 
 
 The Directors have the strongest reason to believe, that in 
 less than three years, what is called the Southern Railway, will be 
 completed. This line, as everybody knows, will extend from the 
 Niagara to the Detroit River, and will pass through the very 
 heart of the tract of country referred to. It is almost too obvious 
 to need remark, that when this Southern line shall be completed, 
 the entire commerce of the Southern Counties, with all their nume- 
 rous towns and villages, and a population of 200,000 souls, will 
 be lost to this City beyo'id retrieve, unless we put forth great ef- 
 forts and construct the line from here to Dover, near which a con- 
 nection will be had with it at a favourable point. With such a 
 connection, it can be demonstrated almost to a mathematical cer- 
 tainty, that nearly, if not quite, all of the heavy freight traflSc of 
 this line must flow to this City. 
 
 In order to establish this position and make the matter clear- 
 ly understood, it is necessary to state the well-ascertained fact that 
 the bulk of the freight traffic through the State of New York, is 
 retained by the Canal, notwithstanding the active competition of 
 the two great lines of railway, and the great loss of time by the 
 former as compared with the latter. Now, as New York has be- 
 come our chief market, the same rule applies to our commercial 
 intercourse with that City. The bu'k of our freight, consequently 
 passes through the Erie Canal, either by way of Buffalo or Oswego. 
 If by the former ten days are required to go to, or from tide 
 water at Albany ; whilst by the latter route only five days are 
 consumed. The distance from Hamilijn, or Niagara to Oswego, 
 by steamboat, is now accomplished in a single night, so that these 
 places are, in point of time, fully four days nearer to our chief 
 market than Buffalo. With such an advantage, it will not be sur- 
 prising, hereafter, to see freight transported from Fort Erie and 
 
 * W. Scott, Esq., Civil Engineer, in his Report upon the Southern 
 Railway, estimates the present population, that would be, more or less, 
 benefited by it, at 180,000. By 1860 it will, no doubt, amount to 226,000 
 to 250,000. 
 
 I 
 
^^ 11 
 
 Port Colborne, to H:.milton or Niagara, by rail, in order to gain 
 time, by taking Lake Ontario. This fact being established, the 
 question, as to the relative claims of Hamilton and Niagara, for 
 becoming the entrepot for Southern Canadian trade, presents 
 itself. 
 
 In reference to this point, the facilities of transport being 
 equal to both places, the superior advantages of Hamilton in size, 
 wealth, and population, and as the established centre of Western 
 Commerce are such, that there would be nothing to fear from the 
 competition of her would be rival. But, with the Southern Rail- 
 way built, nearly the entire freight of the Southern Country and 
 of Lake Erie and the Western States, flowing over it, must, 
 of necessity, centre at Niagara, or the Suspension Bridge, and none 
 of it can reach Hamilton^ unless the Port Dover Line he constructed. 
 
 With both these Railways completed, let us see how the 
 matter will stand. The distance from the point of mtersection to 
 Niagara, via the Suspension Bridge, will be about 84 miles, or 
 the same as by way of this City, whilst, from the same point 
 to Hamilton, it is only about 34 miles. The distance in favor of 
 Hamilton will then be 60 miles, and the charges on freight are 
 the same on the Lake, whether to or from Hamilton, Toronto, or 
 Niagara, and the difference in time by Steamers only two and a 
 half hours. 
 
 The actual cost of carrying freight on the Railways of New 
 York, to say nothing of the profit, has been found to be about 80 
 cents a mile for an ordinary train of 1V5 to 200 tons. It would 
 therefore cost $40 more, to move an ordinary freight train be- 
 tween the point of intersection and Niagara, than between the 
 same point and Hamilton. These facts, i'j is conceived, settle 
 ihe question as to the superiority of this City, as the entrep6t 
 for South- Western Canada, as well as for such foreign commerce 
 as may be carried on through this part of the Province. 
 
 If these arguments are sound, and it is thought they do not 
 admit of denial, it will follow that the great bulk of the produce 
 freight of the Southern Line, during the season of navigation, will, 
 as in the case of the Great Western, find its way to Eastern 
 markets through this City and by Lake Ontario, and the returning 
 trains will carry bick a proportionate quantity of merchandize.— 
 The Directors are unable to state the proportion of the Great 
 Western freight traffic received from, and delivered to vessels 
 navigating Lake Ontario ; but it is generally understood to be, 
 during navigation, far greater than that which is carried on by 
 way of the Suspension Bridge. 
 
 In addition to the freight business that may be confidently 
 
12 
 
 . 
 
 W 
 
 1; 
 
 I ;l ■ 
 
 relied upon being drawn from and delivered to the Southern Line, 
 there will be a very considerable passenger traffic. The popula- 
 tion of the Southern tier of Counties will find Hamilton and 
 Toronto their favorite markets and places of resort for the trans- 
 action of business, and for recreation and pleasure ; and as all 
 business, whether freight or passenger, drawn from or given to 
 the Southern Line of Railway, will pass over nearly the whole 
 length of the Hamilton and Port Dover Line, it must prove a 
 source of large profit to the latter Company, ae well as to the 
 former. 
 
 LAKE ERIE. 
 
 The following extract from the Report before quoted, will 
 sufficiently explain the nature and extent of the business that may 
 be expected to be done between the two lakes by means of the 
 Hamilton and Port Dover Railway : 
 
 " In addition to these extensive sources of business, the trade 
 between the two lakes, that will flow over our line, will doubtless 
 be very great. This trade has so increased that the Welland Canal 
 is quite inadequate to its wants. Formerly a vessel coul'^. pass 
 through this Canal in from 20 to 30 hours. It now requires a 
 whole week, and this route has become nearly as tedious as that 
 by the Erie Canal, via Buffalo. It has been shewn that a cargo of 
 wheat or flour, leaving Cleveland in the evening by steamer, and 
 arriving at Port Dover in the morning, may be again set afloat on 
 Lake Ontario, by means of our Railway, the following evening, 
 and be delivered at Oswego the next morning. This may seem 
 
 *^ incredible ; but with the improved means of transhipment, by 
 Steam and Water power, it is perfectly practicable. We may, 
 ' therefore, confidently count upon a large trade from all parts of 
 the thicklv settled shores of Lake Erie, and for the establishment 
 of one or more daily lines of first class Steamers, in connection 
 with the Hamilton and Port Dover Railway, between Port Dover 
 and Cleveland, which is the mouth of the great Ohio Canal, as well 
 as to other points on the Lake. In addition to the advantages 
 possessed by Dover, as a point of connection between the two 
 06 Lakes^lready stated, it is nearly 100 miles higher up the Lake 
 
 ^ than Buffalo, and is open several weeks earlier than the latter 
 in Spring, and also avoids much of the perilous navigation of that 
 stormy Lake. It is, besides, opposite the great coal fields of Penn- 
 sylvania and Ohio, whence cheap and inexhaustible supplies of 
 Coal will be afforded to the Province. As a freight line, the 
 Directors of the Hamilton and Port Dover Railway Company 
 believe that its importance cannot be over estimated — and it is this 
 
 I M 
 
 ilL 
 
lern Line, 
 
 e popula- 
 
 ilton and 
 
 he trans- 
 
 nd as all 
 
 given to 
 
 he whole 
 
 t prove a 
 
 as to the 
 
 )ted, will 
 that may 
 ns of the 
 
 the trade 
 doubtless 
 nd Canal 
 >ul'^ pass 
 squires a 
 s as that 
 1 cargo of 
 mer, and 
 afloat on 
 evening, 
 ay seem 
 nent, by 
 V^e may, 
 parts of 
 lishment 
 ►nnection 
 rt Dover 
 I, as well 
 vantages 
 the two 
 lie Lake 
 he latter 
 n of that 
 of Penn- 
 •plies of 
 ine, the 
 ompany 
 it is this 
 
 ; 
 
 13 
 
 class of business that contributes most largely to the growth and 
 wealth of towns and cities. The carriage of passengers through 
 a country adds but little to the general wealth, although it is 
 valuable as a means of profit to Railways. 
 
 " There is no reason, however, to doubt that this line will have 
 a large passenger as well as freight traffic. It is a universal law 
 of commerce, that the movement of passengers is always more or 
 less influenced by the general course of trade. If Hamilton be- 
 comes the entrep6t f >r Southern Canada and the Shores of Lake 
 Erie, those who conduct the business of the various localities will 
 necessarily be frequently drawn here, and our business men will 
 have constant occasion to visit the sources of business. Thus, 
 in addition to local, we may count upon a large through passenger 
 traffic." 
 
 As it has been doubted whether any considerable amount of 
 freight can be profitably transhipped and passed over by Railway 
 from one Lake to the other, a few facts may be adduced, which 
 will place the subject within the comprehension of every person 
 who will take the trouble to examine it. The most important 
 articles of transit are grains of various kinds. These, it has been 
 ascertained, can be raised by steam or water elevators from the 
 holds of vessels, and discharged in bulk into grain cars at a cost of 
 less than one-Jith of a cent per bushel. This is what the Directors are 
 assured by persons engaged in the business, is the actual result of 
 the Steam Elevators used at Chicago and other places. An Engine 
 capable of raising from the holds of vessels 100,000 bushels per 
 day, it is estimated, can be worked at a cost of $25 per day, 
 this would leave tL75 to apply on labor to feed the Elevators in use • ^^ /-, 
 and for incidentfllexpenses. The actual charge made by the Steam f /^ 
 Elevator Companies at Chicago, for raising grain, is half a cent per / 
 bushel, which includes five days' storage and the Companies' profits, 
 which are said to be large. This profit would, in the case of the 
 Hamilton and Port Dover Railway, constitute a part of that Com- 
 pany's profit. Let us see what it would actually cost to unload at 
 Port Dover, and reshlp at Hamilton, a cargo of say 10,000 bush- 
 els of wheat or com. 
 
 Elevating into Warehouse, at 1 -5th of a cent 
 
 per bushel £5 
 
 Loading and discharging Cars by Schutes, at 
 
 same cost 5 
 
 Total cost of transhipment iJlO 
 
14 
 
 If the same cargo were taken through the Welland Canal, the 
 figures would stand thus, computing the wheat at 37 bushels per 
 ton. 
 
 Canal Tolls on 270 tons Wheat, at 2s 3d per ton,£ 33 15 
 
 5 days Interest on cargo valued at £2,500, 2 5 
 
 Cost of towage, (average,) say 10 
 
 6 days expenses of Vessel, (always calculated 
 
 and added to charge on freight,) at £9 per 
 
 day, 64 
 
 £100 
 
 Deduct expense of transhipment to and from 
 
 Railway, 10 
 
 Leaving in favor of latter, £9J 
 
 i I t 
 
 Equal to 3 3-5 cents a bushel, which would, of itself, constitute 
 a sum sufficient to pay the cost of transit deterioration of rolling 
 Stock, and leave a handsome profit to the Company, and which 
 might probably be reduced after a large business has been estab- 
 lished. 
 
 It will be seen by these statistics, which every one acquaint- 
 ed with the forwarding business on the Lakes, can verify as a 
 pretty close approximation to the truth, that so far as the trans- 
 port of grain is concerned, the Hamilton & Port Dover Railway 
 will be able to compete with the Welland Canal, even if the tolls 
 were entirely abolished. There is no doubt but that flour, coal, 
 and many other kinds of freight, may also be profitably carried 
 over the Railway, if only proper appliances are adopted to save 
 labour in removing it from the holds of vessels to the trains of 
 cars, and vice versa, especially during the seasons when the canal 
 is most overtasked. The following tables will give some idea 
 of the magnitude of the grain trade carried on through the 
 Welland and Erie Canals, which the Railway may profitably com- 
 pete for at prices as low, or lower, than the cost and charges above 
 enumerated for barely passing the Canal. 
 
Canal, the 
 usbels per 
 
 33 15 
 
 2 5 
 
 10 
 
 54 
 
 
 
 00 
 
 
 
 10 
 
 
 
 ;9j 
 
 constitute 
 I of rolling 
 and which 
 leen estab- 
 
 i acquaint- 
 erify as a 
 the trans- 
 r Railway 
 f the tolls 
 lour, coal, 
 ly carried 
 d to save 
 i trains of 
 the canal 
 some idea 
 ough the 
 ably com- 
 ges above 
 
 15 
 
 Statement of the quantity of the following articles passed through 
 the Welland Canal during the years 1854 & 1855—- 
 
 1854. 1855. 
 
 Wheat, Tons, 76,961 166,620 
 
 Corn, " 113,463 115,148 
 
 Flour, " 40,022 27,828 
 
 Oats, « 10,371 5,776 
 
 Total, 240,697 315,271 
 
 Total traffic. . .767,210 849,333 
 
 Statement of the quantity, in bushels of Wheat and Flour shipped 
 
 at Buffalo and Oswego by Canal, from 1835 to 1856, inclu- 
 sive, the Mour being reckoned at Jive bushels to the barrel. 
 
 Year. Buffalo. Oswego. Total. 
 
 1835 672,427 669,067 1,341,393 
 
 1836 999,980 585,559 1,585,538 
 
 1837 1,084,475 340,036 1,424,510 
 
 1838 2,321,217 440,200 2,761,417 
 
 1839 2,405,849 658,160 3,064,000 
 
 1840 4,081,265 665,389 4,746,604 
 
 1841 4,450,565 735,249 5,185,814 
 
 1842 4,500,265 643,157 5,143,422 
 
 1843 6,104,064 1,154,909 7,258,973 
 
 1844 6,042,004 1,895,494 7,937,498 
 
 1845 4,946,451 2,016,487 6,980,928 
 
 1846 10,069,734 2,790,036 12,859,770 
 
 1847 15,533,117 3,766,001 19,099,118 
 
 1848 10,182,790 3,874,430 14,057,270 
 
 1849 9,115,040 5,104,997 14,057,270 
 
 1850 8,226,847 5,575,742 13,802,589 
 
 1851 9,199,762 6,116,868 15,317,533 
 
 1852 9,554,851 7,315,424 16,870,276 
 
 1853 8,250,638 8,783,293 17,083,931 
 
 1854 4,252,307 1,861,265 7,113,672 
 
 1855 7,633,531 4,691,662 12,325,193 
 
 It is only a few years since the enlargement of the Welland 
 Canal was completed. At that time it was supposed that its ca- 
 pacity for business was such as to meet the in^teasing wants of 
 the Western trade, for half a century. This capacity it has alrea- 
 dy been ascertained, is unequal to the demand for transit, and both 
 the Welland and Erie Canals, with the two great lines of Rail- 
 way through the State of New York, are taxed very nearly to their 
 utmost. In view of these facts, it is evident that, as the transit 
 
16 
 
 
 ill 
 
 business betv^een the East and the West is every year increasing 
 in an accelerated ratio, there must be new channels opened to 
 meat the future requirements of this vast commerce. It would be 
 difficult to project a better avenue for sharing this most profitable 
 business than the one which will be afforded by the Hamilton & 
 Port Dover Railway, and which will at the «ame time possess so 
 many other sources of business in addition to that of opening a 
 new and easy transit between the two Lakes. If this Railway 
 proves as successful in competing for the trade of Lake Erie as its 
 friends believe it will, and the facts seem to verify, it will be the 
 means of raising both Hamilton and Dover to rank amongst the 
 most important shipping ports on the Lakes ; and a double track 
 will be required in less than three yeais after it is opened, to do 
 the business that will present itself. 
 
 ESTIMATED PROFIT. 
 
 It is no doubt a difficult matter to estimate the probable 
 profit that may be expected to result from a railway, drawing 
 business from so many sources as those enumerated. The history 
 of railways nowhere presents a parallel case of a short line having 
 so splendid a field for local business, and at the same time, forming 
 so many promising railway and water connections. Neither in 
 the old, or in the new world, do two other such lakes as Erie and 
 Ontario, teeming with so vast a commerce, seeking transit from 
 one to the other, exist. 
 
 With regard to the local business, it has been shown, that 
 after the line has been open long enough to develope this source 
 of traffic, say 5 years, at least £80,000 a year may be counted upon 
 from it. The Great Western working expenses are estimated at 60 
 per cent of the gross receipts. As the heavy freight trains on the 
 Hamilton and Port Dover Railway will be moved upon a down 
 grade and the light ones up, there is no reason to believe that the 
 working expenses of this line will be greater for the first two or 
 ^c«-6 three years. T^j^^^henliiWoul^give £40,000 a year of profit, equal 
 Jlcuu^^,jf^4^ *® ®'8^* P®'^ °*"^' upon'dE600,000. 
 
 If it be assumed that the business that will be drawn from all 
 the other sources enumcBAted only equal the local traffic, instead 
 of, as will probably Wthe case, greatly exceeding it, and taking 
 the ratio of increase/predicated upon the two years' operations of 
 
 '^. 
 
 ^-^^^-'^-^i^O-t^ 
 
11 
 
 the Great Western, the earnings for the first five years would be 
 
 as follows, taking the working expenses at 55 per cent of the gross 
 
 receipts. 
 
 Earnings Gross Working Leaving Percentage on 
 
 per Mile, Earnings. Expenses, with profit. Cost £600,000. 
 
 1st Tear, £1,512 £60,480 56 per cent. £80,000 6 
 
 2ad " 2,16« 86,640 " 38,988 7f 
 
 S'd " 2,824 112,960 " 60,834 10 
 
 4th " 3,480 139,200 " 62,640 12^ 
 
 5th " 4,136 205,440 " 74,448 15 
 
 The expenses attending the operating of railways must neces- 
 sarily vary according to the description of business, and the more 
 or less favorable gradients of the line. In the case of the Hamilton 
 and Port Dover Railway, the great bulk of the freight will be moved 
 over the down grade towards Lake Ontario. On the New York 
 and Erie line 77 per cent of the freight goes East, against 23 going 
 West. It may therefore be assumed that the Hamilton and Port 
 Dover line will be an economical one to operate, and that the 
 working expenses and wear and tear of machinery and permanent 
 way together, will at no time exceed 55 per cent of the 
 gross receipts. The arguments which have been adduced, and 
 which the Directors trust have been presented in a perfectly intel- 
 ligible form, must afford convincing evidence that it will prove not 
 only profitable as an investment, but of incalculable value to the 
 interests of this City and all the localities interested. 
 
 The Directors closed their report last year with an allusion 
 
 to the effects produced upon the value of Real Estate in this City, 
 
 by the opening of the Great Western Railway. It will no doubt 
 
 be highly gratifying to the friends of our Railway interests to learn 
 
 that, the increase in the assessed value of property for the last 
 
 year has been fairly maintained, although the recent assessment 
 
 has been made during a period of unusual monetary pressure. 
 
 TABLE. 
 Shewing the assessed annual value of property in the City of 
 Hamilton, before the commencement and since tie opening of the 
 Great Western Railway, and shewing also the reilftive increase. 
 
 1849. (Before Great Western Railway was commenced,) £ 60,726 
 
 1860. do do 61,614: 
 
 Increase in one year. 860 
 
 1864. (Year of the opening,) 16*7,000 
 
 1865. (After Great Western was opened one year,) 190,000 
 
 Increase in one year. 8*7,000 
 
 1866. (Assessment just taken,) 220,000 
 
 Increase over 1866 £ 30,000 
 
18 
 
 ' i 
 
 It will bo seen by the above that the ratio of increase in the 
 assessed annual value of the City from 1849 to 1860 was about 
 one per cent, whilst from 1864 to 1856 it was 22, from 1856 to 
 1856 the increase has been 16, and from 1840 to 1860 no less than 
 360 per cent. As the annual value is computed at the rate of 
 c/ 6 per cent fi\ the gross assessed value, it will be seen that^ 
 ^/ the increase of last year /h the annual value of real estate in 
 Hamilton, (being £30,000,) represents an increase on the actual 
 value, of £600,000, a sum estimated to bo sufficient to build 
 and equip the whole of the Hamilton and Port Dover Rail- 
 way. The £220,000 (assessment for this year,) represents 
 about £3,606,000 as the gross assessed value for the whole City, 
 ^^ which is, probably, more than a million of pounds below its ac- 
 )( ^Iti^ tual intrinsic value. It will, t hy^w , be seen that the City pos- 
 sesses ample ability to aid this enterprise to the extent necessary 
 to insure its completion. The Directors, therefore, appeal to the 
 public spirit and enterprise of all parties interested, and especial- 
 ly to the citizens of Hamilton, who will be most of all benefited, 
 to aid them in carrying forward the work. They must reflect 
 upon what the effect of delay will bo. Let the Southern Kailway 
 be built and the Buffalo and Lake Huron Line finished, and set 
 a-going, and the trade of the finest part of Canada will set in, in 
 another direction, from which it will be no easy matter hereafter 
 to divert it into our market. We shall, then, be cut off, and become 
 isolated from the most promising elements of future greatness. — 
 The Directors conceive that it is no longer a matter of choice, but 
 one of urgent necessity, to complete this work without further de- 
 lay. Hamilton will then take the lead of all other Cities in point of 
 Commerce in Upper Canada, and the consequent rise in the value of 
 I property may confidently be estimated at four or five times the cost 
 
 of the Line. 
 
 ALLAN N. MACNAB, President. 
 
 HUGH C. BAKER, Vice-President. 
 
 G. W. BURTON, 
 
 R. P. STREET, 
 M. W. BROWN^ 
 J. T. GILKISON, 
 JAMES LITTLE, 
 
 w. p McLaren, 
 
 JOHN BROWN, 
 
 Directors. 
 
crease in the 
 
 was about 
 om 185fi to 
 ' no less than 
 
 the rate of 
 e seen that 
 lal estate in 
 
 1 the actual 
 nt to build 
 )ovcr Rail- 
 
 represents 
 whole City, 
 elow its ac- 
 le City pos- 
 it necessary 
 )peal to the 
 id especial- 
 
 I benefited, 
 nust reflect 
 rn Kail way 
 ed, and set 
 
 II set in, in 
 [• hereafter 
 ind become 
 reatness. — 
 shoice, but 
 further de- 
 in point of 
 ie value of 
 es the cost