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A Committee appointed at this meeting to confer Avith the Great Western Rail -oad Company and report a plan of opera- tions, made the following, REPORT: " That in their opinion the time has come when the Great Western Railroad may be completed, provided the parties interested on the American side will lend their aid, by a sub- scription of stock to the amount of one million of dollars. " They believe that such arrangements can be made with said Company in regard to the termini of the road and the general management of the Company, as will be entirely sat- isfactory to the American Stockholders. They recommend that a Committee be appointed to procure American Sub- scriptions upon such conditions, as will, in their opinion be mutually satisfactory to the present Stockholders and to those they may procure. And to urge said subscriptions by such statistics and arguments as they see fit to use. 'J. M. FORBES, '•' Cliainnun of Com/nittec.'' Whereupon the following Resolutions were passed unani- mously. Resolved^ " That John M. Forbes, Alexis Ward, Theodore Dehon, Ileury B. Gibson, John Wilkinson, Erastns Corning, John T. Norton, John E. Thayer, George B. Blake, U. D. Williamson, John C. Green, Edward L. Baker, Charles Paine, William T. Enstis, Z. Chandler, Henry Ledyard, Henry N. Walker, and J. W. Brooks, be a Committee to procure Ameri- can subscriptions to the Great Western Railroad." Resolved, " That in the opinion of this meeting the speedy completion of the Great Western Railroad from Niagara River to Detroit River, is highly important, forming as it does a necessary link in the Great trunk Railway from the Atlantic to the Mississippi, which will be not only the shortest route, but more level in grades and straight in linear arrangement than any other trurdc line can be made for the same route of travel." Resolved " That we have the most decided confidence in the value of the stock of this road as a permanent well pay- ing investment, and would recommend it to our friends and the public." A Sub-Committee was then appointed to prepare this Re- port, and the meeting adjourned sine die. From very thorough examinations of the route, it is esti- mated that the Great Western Railroad will cost from Win- sor (opposite Detroit) to the Suspension Bridge at Niagara Falls, five millions of dollars. Since the location of the route and the estimate of its cost, nearly the entire work has been let to efficient and able contractors and most of it at prices below the estimate, the contractors taking a proportion of their payments in the stock of the Company. The Provincial Government, by law, has agreed to guaran- tee the interest for an indefinite period upon the Bonds of the Company at six per cent, interest for one half the cost of the road. The Company think they have good reason to hope that the government will agree to guarantee the principal, as I I well gardi ties I will'' :\ii izcd, Stncl their ward char: lie in )assed unani- •d, Theodore tns Corning, Blake, D. D. larles Paine, rd, Henry N. ncure Ameri- J." g the speedy iagara River >s it, does a the Atlantic ortest route, arrangement une route of onfidence in lit well pay- friends and ire this Re- e, it is esti- frorn Win- at Niagara of its cost, t and able timate, the 1 the stock to guaran- •nds of the cost of the •11 to hope incipal, as .') well as the interest of tlie saul Bonds. This t^uiUiuitet! is re- garded as very valuable, as the llnanci;il six j)er tjotit. se(iuri- ties now soil in London at about seven per ceut. proniiuuj, which is under five and one hall" per cent, per anuiuii. Miniicipai Corporations along the line ar(; by law auluor- ized, and liave made very considerable subseriptioiih, lo llie Stock ot'the Company. These Cor[)oralions do not vole upon their stock, but those who hav^e subscribed .v;lUU,()()() and uji- ward are entitled to one Director each. Subscri])tions ol" this character are important as tending to keep up a general ))ub- lic interest in the road. The Capital authorized by law, is - - .';«<().( lOO.OUl) Estimated cost of Road as before stated, - ^5,U()U,Ul)U The Stock account stands as follows : Municipal subscriptions in Canada, - - !j^55U,UU() Reliable private subscriptions in Canada, - 2 10,000 Additional subscriptions in Canada can be safely calculated upon to the amount of - G0,(]00 Contractors' Stock about - . - - bOO,000 $1,050,000 American subscriptions desired to complete the work, 1,000,000 Total Stock, 2,050,000 Provincial G per cent, guarantee Bonds, - 2,050,000 Total means if the ^1,000,000 American Stock is taken, $5,300,000 The expenditures upon the road have been for work by Contractors, about - - $80,000 Rights of way. Engineering and all other ex- penses, about ------ 80,000 Total expenditure, about - - - - *5 ItJO.OOO () AVilhdiit ;uiy clotcMitioii (or the \v;iiit of monns it is t.-sti- irmtocl that the road (Tm he opi'iit'd lor public use on tliu 1st of Doccinlx'r, iS.yi. TIkm-o arc between l,;')!)!) and "ijUOO n:eii now at work upon it. '^I'o jrivn an idea of the capacity of this road for business, we will extract a few tabular statements from the Engineer's report. TAnr,r; ok distancks i.v rulks. divisions. NiiifiiUii Fulls to lliimiltoii, llaiiiillon to London, Loiiiloii to NViml.'ixty-l\V() per eent, either Im'el, or tin; lirades under live iVct }ior niil(!, ;uid nearly seventy per eent. either level, or under toil leet i)er mile. The ability ol" this road !<» do business clieaply anil eOiciently, may thereloie be considereii as very superior. The district of country traversed by this road, is very sim- ilar to tliat traversed by the ]Mieliit:an Central llailroad, from Detroit to Lake Michii^an, both as to the extent of its ])opn- latioii and its general resources lor business, M'liieh are like Michigan, princij)ally agriciiltiual. The following statement of the local business of tlie ^lich- igaii Central Railroad from Detroit to Lake IMichigan, may servo as an approximate estimate for the local business of this line, and it will also show, what is not fully appreciated at the lilast ; the rapid development of the agricultural resources of the lake coimtry. Jndiiis H^ 041 58 42.10 7;') 84 lU'J.!);-) 09!) 227.89 1 to or. 1 Totals. 1 2 M1.72 ) 14.71 I 29 41 2 24.f.0 ) (■,.,•!.') 11 10 ) 227.80 MICHIGAN CENTRAL RAILIlOAl) RKCEIPTS FROM LOCAI, BUSINESS. St.ltCIlK 111-. Years enclirt!^. April 30, 1849 I April 30, 1850. April 30, 1851. Total Loral Rcc('i|)ts, Leiifrth of lioad in operation, Receipt?; per mile. *229,35G.3;j 183 miles. $1,799.70 >439.0()3.00 217 miles. S2,023.05 §573,490.14 217 mile.'. S2,644 80 Average annual increase over twenty-one per cent. If this rate of uicrease is continued for two years, when the Great Western Railroad may be in successful business, it will give as the probable local receipts of the Michigan Cen- tral Railroad, the sum of $8'.i9,055.99. While it is not un- reasonable to suppose the business above ipioted, will continue to increase as it has done, yet we should not place this before the public as a reliable estimate of the local business of the Great Western Railroad, but simply give it as data from which some idea may be got of the ability of this agricultural roiiiitiy 1(1 t'liniisli liiisiiH'ss for a (Mu-rymu; triide when tli«! ])ro|)('r ;icc()iiiiii()(l;iti()n is ad'ordod it, and iVotii wliicli an ap- j>rf)\iiii;iti' estimate' may I""! made Tlic (■.»iM|'l('ti(>ii of this last link in tlic <^n'oat diaiti of rail- roads Ix'twocMi tli(! Atlantic and the .Mississippi, will tnnd so mat(M'ially to incroase tlic lone; travel, that an estimate of its thronuh travel, hased njion the present circniation across this ga]), wonld lldl I'ar short of the probable resnlt. The anionnt of first and second class travel between De- troit and nnllldo for the season of navigation in ISoO, can l)e pretty nearly ascertained — the number of emigrant passen- gers is more ditilcnlt to arrive at. The nnndjcr of First Class is about - - - 8."), 000 do Second do ... 28,000 Number of Emigrants from 10,000 to G0,000, say - r)0,000 Total, l();i,00() The first class jjassengers are this year paying to steamers $5.00 each for a cabin passage, averaging 18 hours long — second class and emigrants, 1mm .*i^2.00 to IJ.OO each. Ex- perience has determined that steamers taking 21 hours to go through, camiot take any material proportion of the cabin travel at even .5.00. The fast steamers are constructed with a view to speed, and not carrying capacity. They could not be well remuner- ated at a lower price than i^4.00 per cabin passenger. If they take freight to help pay expenses, their speed is reduced, and the cabin passengers will pay less. The present speed can- not therefore be kept up, unless the present prices are very nearly sustained. Considering the accommodation that is furnished on these steamers, the character of the navigation, (very ditlerent from that of Eastern rivers,) and the distance, nearly oOO miles, and the perishable character of steamers, working in fresh water, and ,$1.00 from Detroit to Buffalo is a lower rate of fare than that upon any well equipped route with which we are acrpiainted. If i)assengers now pay $5, instead of $3, to save the differ- {) eijco hotwtjnii 18 niul '24 hours, tlioy cprtamly will pay ^i* to ^'oovcr I 111' ('iinda ntad in ci'-'lit hours as»alll^ per (VMit. upon the prcjsent first class hiisiness, will hoth amount in ail prohahility to ([iiite as nineh as can ho indnccd to 'io hy the Steamers, leavins^ as (irst class hnsiness the ahove s.'),()(m) ])asscn^nrs at !i>'.> each. This, with say :iO,l)()0 second class and eniiifrant passon^i^ers at !$'i.5()cach i^ives the sum oi" ^fioDH,- UUO as the prohahh; value of the throiigli passenger hnsiness. The item of Marine Insurance upou Lake Erie, between nmlalo anli freiLrhting business is shown in part hy the following statement which is calculated at half of one per cent, or some- thing below the n!al cost. Cost of Marine Insurance on Lake Erie, by steam, [)er lUO lbs. and per ton of 2U00 lbs. on various kinds of goods : KINDS OF GOODS. Dry (i()i)(ls, (LiL'iR'ral ;i<j>ijiiy and Jan.- jii llie I'all, wiieu ihey art iK.-aily (iOiiLJi; tlicMi raU;h, Jt wjil b<; m-(.-u thai ill*,' Kailroad •;aii h<; ii:^<;d at a lai'^f; havin;/ to tli'; owntMS of merchandise f.'<-n<;jally. \\ iih tlii^ iiailroad (.•o;iJj)let lu hiinif;i< r. and sivt; th'i iiit('r('sl lliey now lose upon jjioodh |)n)(;haM'fl in th<; lall for sjjnng sales. At the same time It would tend to e(jiiali/e tlie business upon all the con- nre than reali/.ed. I'rom the hiregoing considerations we are not inclined to put the receipts that may be sat'ely calculated upon, lower than tVom .sS00,00i) to .si. 000, 000, and tliiid< it perfectly safe to estnnate them, mcluduu- mails and expenses, at .s90l».000. U cost .SoOO.tlOO to earn that amount upon the ^Michigan (Vntral Uuilri>ad which is sinnlariy situated with regard to cost o{' fuel and must other considerations. To make the re- 11 snlt full 7 safe we will put the receipts at And cof^t of oporatiiii,' at, SoO.OOO <■) per co)it. on *^2,a()0,()()l) Provincial guaranteed bonds 12 per cent, on }*2,oO(),n{IU stock, !i!S.>(),0()t) loO,0()() 3()(),0()() SSI)1),000 Surplus of 2 per cent, to carry^ forward ."iOjUDO These estimates of the receipts fall below the estimates of the Engineer of the Great Western Railroad made five years ago and based upon the business of that period. The business of the Lake Country from 1817 to 1853 will have (piite doubled, and the jnesent estimate we have no doubt will be ftdly realized. Considering the great length of this line of Roads, already completed, with the exception of the Irreat Western, from Boston to the head of Lake Michigan, a distance of 9.j5 miles, and it may be truly said that this is the only link want- ing in the most profitable chain of roads that have ever been constructed. While the stock of this road cannot but be valuable as a dividend paying investment, the large amount of already in- vested capital to be materially benefitted by its construction calls loudly upon the rest of the links in this great chain to render their aid in making uj) the bakr.ice necessary for its early completion. By law. the Railroads in New York have the right to sub- scribe to the stock of this road five per cent, upon their capital. "^riiis amount from those upon the direct or continuous route, together with the same from the Stockholders in the Michigan Central Railroad Company, the latter not having the right to subscribe as a Conii)any, will furnish from $SUO, 000 to.s'S50,- 000, leaving to be furnished from the American public say ,fi200,000. A considerable pro])ortion of this will probably be raised in the City of Detroit, whose interests are most inti- mately identified with the coripletion of this road. An examination of the annexed map will show the charac- ter this great route must maintain when the last link is com- 1-2 j>lt'tc'(J, ;m(i ;ils() how deeply intorosted are the rest ol' the roads ill tlie chain, in its s[)ee(ly completion. This done and no line ol' l{. i<; j;.jy l|j(; j.Mij.^; j/jirrr«."-.i of i(;jj j/,-r (.(.-jji. uj^oij iheif ^";t'/<;l•. j/j the /j<; ij/ lh<: \<;ry \j<:hl Jli V<:btlljeiit^ <;()Jji(; haV(; 'jU'.'htJOUe'i tije WJSdoJJl of Jo< .iijijf..' ()j<- Ji;j^i<^j/i )<-ji/ji/jus (j| t}jis foud ui the Suspension lJn,r„iw,; ilr^o^^ this^ late iii the fall, in the winter, iiiid t.aily III I he hpnii;^, would often he dangerous and fre- <|iiriiily iinpiih-iihle. We Knpp(ts(! in pleasant weather the iiuie. III pii,-Mii;j fiuiii the »;;ii>; at Heriic to the terry hoat, .K Ttih.i I he leny mio ({(iirulo (/'reek, thence by land nearly a uiile. iliii.ii'jh (he eiiy |o lh(! Kasteru Kadroad Depot, would lie. nu( Ir.^N (hiin one hiiiir and a half. This would he as ex- pe.dKi.Ki.'ily ii^ a lull (laui of passengers with their luggage t iiuld be liauriieired iVoui «tn(! train ti» the other in good ueadui, uiih no allowanct^ for the many contingencies that eiub une.s all llu^ ^hlppin^ in (hat oviucrowded harbor, where i( uo( uiiiii'i|iieii(ly ha|ipeiis that a steamboat is many hours in ^e(llll^ 111 or out oi' i\u' river, V( du' |>ie.M'ui teinimiis at Niagara Falls we do not under- ^(alld ibeie to |i»^ any |>i'ai-tu'al liilliculty in strengthening the pre.M'iit Mi.s|ieusn>ii Und^e, or coiistructiug another sutlioiently >trt>iiL!, to earr\ o\er tlie dams entire as they arrive. Hut even Mippo.sui^ the [ue^eiit bridge to be used as it now is, it is but MH» (ret loiis^ ; iu>i longer than many o( our depots are at lue^ellt eoustriu'ted,aiid with crates lor the transfer of the bag- gage u about o[>eniug them. The transt'er o( passengers and bagga^^e trom one tram to the other could be easily done in 15 uumite^ u itfi tiocbaiH'o t'or contmgeucies to create additional delays. When all things favor the r>utlalo crossing it still appear^ tliat one hour and a t.piarter is saved by crossing at 15 iider- the ' nth- eve ti but •e at bag- aiid u 15 Loiial still isr at Niagara,wliich is equal to a distance saved with Express trains of at least li") miles. It is also believed that the crossing at Ni- agara will be an attrnctivc leatnrc in the route, lor otluu' thini.'s being equal, the opportunity of seeing Niagara Fulls will turn the scale in favor of this route with a large number of pas- sengers every year. When this chain of roads is completed from New York to the West it will not only have advantages over all others in straightness, grades and distance, but from New York to Sy- racuse, and probably to Rochester, it will have a double track, Avhich will greatly facilitate the passage of Express trains over this portion of the ronte. For Express trains over single and double tracks u])on long lines we suppose a fair compari- son would be 28 miles per hour for shigle track, against 33 miles per hour for double track, including stops for wood and water, change of engines, &c. Michigan City, at the head of Lake Michigan, is a point common to the routes on both sides of Lake Erie. The dis- tances thence to New York would compare as follows: Michigan City to Detroit, _ _ _ Detroit and Niagara, - - - - Niagara to Albany, straight route, Albany to New York, - - - - Total on North route, 292 miles double track, and 607 miles single track, in all - _ _ 899 Michigan City to Toledo, - - _ - Toledo to Dunkirk, - - _ _ . Dunkirk to Butfalo, - _ - - - Butlalo to Albany, _ - _ _ - Albany to New York, - - - - _ Total via south shore of Lake Erie, Buffalo and Albany to New York, 292 miles double track, and GGO miles single track, in all 227 miles. 228 " 300 -' 141 " u 208 2o7 43 300 Ml Distance in favor of Northern Route, 952 53 Hi Mif.'lii^Mn City to [)inikirk, as above - - 465 miles. Dimkiik to .Now York, via .\. Y. & Erie R. R. 400 " Totiil via .N. Y. &, I'Jrie R. R. all single track, 925 " iJiliorciiMM! ill miles in favor Northern route, - 26 " Disiaiicc ^^•lill<;(l by double track on Xorthern route, 44 '• l*riiclic;il dillonmce in ("avor of Northern route, over south ,si(l(! of Lake Miie and N. Y. Erie R. R. 70 " .Michi^iUi (Jity to Toledo, as above, Tobulo to Cleveland via iNorwalk, Cleveland to Pittsburgh, l*ittsbur^h to Philadelphia, - iMichiii;au City to IMiiladelphia, Philadelphia to I\(!\v York, 208 li IM n 135 il 353 i( 810 '' 01 •' Michigan ('ity to Xew York via Toledo, Cleve- land, Pittsburgh and Philadel])hia, all single tracks, with diHicult grades and curves, - 901 Dillcrcncc in favor of Nortiiern route over that via IMiiladelphia, 2 Distance gained by double track on Xorthern route, 44 Piaetical dilference in tavor of Xorthern route, 40 Michigan City to Monroe, - - - 208 Monroe ti» Hetroit, _____ 4(j Detroit to Xew Yi)rk via Niagara and Albany, as hefoie, 072 Michigan City to New York via Monroe, Detroit, Niagara ami Albany, _ _ _ _ 920 '• JMichiganCity toXew Yorkvia Toledo, Cleveland, IJutl'alo and Albany, as before, _ _ _ 952 '• From the above it appears that the E'^astvvard travel from the Michigan Southern Railroad can go from Monroe north ti> Detioit and then over the Northern route to New York. I n u li u and save 32 miles over the route via soutli shore of luike Erie and Rnffhlo. No road, however, is contemplated from Monroe to Detroit that we kiiow of, and we merely instance this to show the 2;reat directness of the Xorthern ]?