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H ?-ii U I '4 '' i ^ J / j/i ii rii u..;i '.;niUi •«i><^ ri REPORT OF THB SPECIAL COMMITTEE ON THE SUBJECT OF THB PROPOSED RAILROAD FROK TORONTO TO OTTELFE. I TORONTO: CARTER AND THOMAS, CITY PRINTERS. 1861. t *. r ; 1. Xt '^ '-ji'-Vl i ;?■: •-.^- 1. H'-*-' f '■■ I fl ft ft .\ft4\vY l^^-'ty)-^ /v^. REPORT- Vi Your Committee to whom was referrred the communication of J. W. Gwynne, Esq., on the subject pf the proposed Railroad from this City to Quelph, deeply impressed with the importance of the subject, and having given the same th ur earnest attention, respectfully report as (ollows: - v - y ,- ^ . j They find that in the years 1847 and 1848, a survey was made by Messrs. Brough and Wells, Engineers of the Toronto and Goderich Railroad Company, under the superintendence of Mr. Gzowski, and that a detailed statement of the cost of the construction of a single track from Toronto to Guelph was made, and the cost estimated at i:i76/)00. ^ ' The Report of the Engineers is, that the line of country through which the road is intended to pass is exceedingly favourable, and that the line can be built for £4000 per mile, the total distance betwixt the two places being forty-four miles. , Since the survey was made the cost of iron has been considerably reduced, and under this head a large saving may be effected. Your Committee, however, are fully aware that in works of this magnitudo it is a very rare event to accomplish the work withio, or «ven at as low an amount as the original estimate. They aro how- ever, of opinion, that taking into consideration the respectability and and practical knowledge of the Engineers, they ace no reason to sup- pose that this important work cannot be accomplished for a sum not exceeding five thousand pounds per mile, and a total amount of two hundred and twenty thousand pounds. They have however, to avoid misleading your worshipful body and the citizens at large, taken as the basis of their calculations a cost of two hundred and fifty thousand pounds. Your Committee are unanimously of opinion that the opening of a railroad from this City to Ouelph would be of immediate and vasi ad- vantage to tl'cC interests of the city ; at the same time they see no less distinctly, the injurious effect it would have on the future prosperity of the city to pledge its credit for so largo an amount as one hundred tliousand pounds, without a reasonable certainty of the success of the undertaking into which it is proposed to enter. Your Committee have therefore given every attention to this subject, and have availed them- selves of every source of information in their power. The very short period allowed them to report, renders it impossible to give thai full and explicit information they could have desired. ^ *..... Canada at present, luifortunatcly, possesses so few railroads, and of such limited extent, that it is impossible to refer to them for data on which to found our calculations as to the probable amount of traffic and profit of the proposed line. Your committee however, have turned their attention to the railroad system of the United States, and espe- cially to such lines as nearly as possible analogous to the proposed road to Guelph, and have taken information from official reports, and the most authentic and reliable sources. They have, in most cases, been able to procure these returns to no later date than the end of 1849; but they have no reason to suppose that the rate of increase has at all fallen off — from many other examples of successful railroad enterprise they have selected the following: -.•..,* .^^ ; >rw- ■ ?*'..* The Mansfield and Sandusky road, commencing at Sandusky City, on Lake Erie, and extending to Mansfield, in Richland County. It i» not a through line and its revenue is entirely derived from^ passengers, and the transportation of agricultural produce and merchandise for the supply of the country on the line ol road. ^"** The eo6t of the road and rolling stock was $808,560. The number of passengeni in 1846 was 0873; in 1847, 20,737. 1846. 1847. Wheat, 300,266 604,081 bush. <^orn, 4300........ 13,713 do. Flour, 11,315 . ....... 62,608 bbls. Wool, 116,883 210,003 IbB. Butter and Lard, 300,742 680,248 lbs. Pork 86,067 1361,624 bbls. Merchandize 1847 3,110 tons. The earnings of the road for the 6r8t year were $40,400, expenses tl 7, 437, nett Receipts $28,061. Of the second year the earnings were $85,403, expenses of running and repairs $23,000, nett receipts $61,406, or a dividend of about 1^ per cent. Since the first of Jan- uary 1848 the progress of the road has been equally satisfactory and has had a most important eflfeci in advancing the prostcrity of the City of Sandusky, — but Your Committee have not been able to obtain any official reports to a later date. The line has since been extended sixty miles further into the interior of the State with a like satisfactory result. Your Committee have selected this line, not as a peculiarly favour- ■able instance of Railroad success, but as being peculiarly analogous to our own position. It is entirely supported by local traffic, and does not by any means pass through so fine or so fertile a Country as the ^ne from Toronto to Guelpb. In the second year of the existence of this road, the transport was 604,081 bush, wheat, flour — 62,508 bbls. While last year there were shipped from the three ports mentioned below, to the United States, the following quantities of Wheat and Flour alone : :■»!.('(. -.•-■, Flour. Wheat. Toronto, 34,348 122,321 Credit, 30,000., . ..... 158,063 Oakville 3,670.... ... .146,830 4t 68,027 brk 436,223 bus. This large amount having been shipped from these three ports for the United States alone, we may safely infer that at least a similar amount was shipped for Montreal and Quebee, showing ttiat the dis- trict to be beneBtted by the Ouclph line produces a much larger nmonnt of Agricultural produce than the Country intersected by the »Sandusky and Mansfield Road. There is, moreover, a large section of Country, the produce of which is now shipped at Hamilton, that will in the case the Uailroad is completed unquestionably find the best market at Toronto. The Michigan Central Railroad passes through an Agricultural Country from the City of Detroit to Now Buffalo on Lake Michigan, connecting as this road does Lake Michigan with the St Clair — thd returns shew most conclusively that the principal dependence of this rood is for the local traffic, as in tho last year of which we have oa Official Return, the way passengers were 60,778, and the through only 13,400. This rood too is an excellent illustration of the effects of Railroads in stimulating production and developing the resources of a Country. The receipts of this line for the month of May in three con- secutive years were respectively as follows : 1843. 1846i 1847. .- ; . • -?' ; $16,^24. $32,810. $41,011. - J., Since that time, tho Annua! Report says, "From tho large accessioit of business the past year, the Directors have been obliged to increase the number of engines; also the passenger and freight ears; and a greater increase will be required the coming year." Your Committee find that, as a general rule, tho great majority of the railroads of the United States pay good dividends, and are gener- ally considered as good investments ; although, from the scarcity of surplus capital in that country, the price of stock is not commensurate with the rate of dividend. Tho average return by the railroad in the United States seems tor average a little over seven per cent. ; in very few cases is it below si* per cent., while in otlxers it is as high as fifteen per cent In tho course of their examination, your Committee have had occa- sion to remark the amazing effect of railroads, in mcreasing the num- ber of travellers, fmgmcnting the wealth and developing the resource* uf a country, in a ratio not to be accounted for by a mere increase of population. A few examples of which we give below, taken almost at random from an immense mass of similar facts. On tha Western Railrood, from Boston to Albany, the foUowing were the rates of incrcuse : — TUB WESTEllN (MASSACHUSETTS) RAILROAD. ' Tssfi, Pasa. Morch. 1842 $366,446 $226,674 1843 275,139 276,696 IS'H 3^8,694 371,131 1815 ........ 366,763 420,717 1846 (1 1 mo's) 389,801 459,365 1847 502,321 785,315 1848 551,038 745,fK)9 1*49 561,575 745,304 Mails, &c. Total. Cxiiense*. Bal.Rereipto $19,650 $513,688 $266,619 $246,068 303,973 23,016 23,926 26,009 29,191 37,668 35,120 673,882 753,152 813,480 878,117 1,325,336 1,332,068 1,343,810 314,074 370,621 412,679 676,689 652,357 588,322 269,901 439,688 442,868 463,738 648,646 679,711 755,488 36,841 Number of through andlocal panaengers for each year niiut ths road was opened. » . , YetkTi. Through Pass. Way Paas. Total. 1842 18,571 171,866 >90/*37 1843 26,595 174,370 200,966 1844 24,330 195,927 220,267 1846 19,192 204,442 223,634 1846(11 months) 29,883 2*5,831 266,714 1847 34,299 354,011 388,310 1848 3a,731 371,883 406,614 18W 33,751 402,053 435,804 220,352 2110,383 2,33y,73& Here we see in a road uniting the two groat Cities of Albany and Boston passing through an agrieulturul country not * ) be con)pared tO' that traversed by the Toronto and Guelpli liailroad — what an immense proportion the local traffic bears to the wlK>le business of the road. The New York railroads shew precisely the same results with refwr- ace to the increased business of the roads. KKCKIITS TROM PASSEN'OERS. Vlbany and Schenectady Jtica and Schenectady - Syracuse and Utica - - Auburn and Rochester • Tonawanda - - - - Attica and Buffalo - - 1844. 1846. 1S4«. $ 66,293 92,194 113,741 306,278 347,6^5 666,884 181,047 229,708 296,831 . 80,533 98,051 132,667 216,246 253,073 358,501 92,639 111,583 169,96^ 64^39 72,405 119,44a tf> 8 Tho same rapid increase appears also to have taken place in every railroad into the statistics of which your Committee has had an oppor- tunity of examining. It ia also satisfactory to observe that the dividends have also steadily increased, as is shewn by the following official return. 1840. 1848. Providence - 1 per cent. 7^ per cent. Boston and Worcester 6 " 10 Lowell 8 " 8 " .. Eastern - - 6 " 8 " i* Taunton 6 " 8 " »J New Bedford - 3 " 8 " u /^ Western . . o " 8 " Norwich " •* , Boston and Portland 5^ " 9^ " j, Nahouse 1 ♦* lO " , Charlestown " 10 " j Auburn and Rochester - . - . .. . u..,. . >•> .-'>• (nett revenue) ..... 15 " , Fitchburg, do. ^ 8^ . » ? Fall Biver, do. - - 7 *• ' . This table has not been selected from any numerous list of compa* rative failures, but because it was the only list that, in the brief time at their disposal they could obtain. . , Your Committee can confidently state, as the result of their inqui- ries into the railroad system of the United States, that as a general rule, the American Railroads have been of immense advantages to the country through which they run ; they rapidly increase the popu- lation and commerce, and afiford a safe investment and an adequate return for the capital so investe"!. Your Committee would also further remark their importance to the large towns forming the termini of such lines, and which are especially benefitted thereby. Such is the result of your Committee's investigation into the success of national enterprise in the United States. In Great Britain the result is if possible still more satisfactory with respect to the influence of rculroads in augmenting business and increasing travel especially, taking into consideration the fact that the population of that country. AS compared with Canada and tho United States, is almost stationary, two illustrations of which we give below. "No limit can be assigned to the number of travellers which cheapening and quickening the means of conveyance will create. Tl.o introduction of the railway, even where steamboats already afforded a most pleasant, rapid and cheap communication increased the number of travellers between Glasgow and Greenock from 110,000 to 2,000,000 — 2,000,000 being five times the population of the district In 18^ the number of passengers per annum between Glasgow and Paisley was only 10,000'; in 1842 the number was upwards of 900,000; the jiopulation during this period has only doubled itself, wiiile the traffic has multiplied itself ninety-fold — that is to say, for every journey which an inhabitant of Glasgow or Paisley took in 1814 he took forty- five journeys in 1842. The railway system has doubled itself in three years. The importance and value of the traffic in goods and cattle, relative to the passenger traffic, have become more apparent What- ever falling off in dividends there may have been, is to be attributed to the capitalization of loans and the creation of fictitious capital by the purchase of railways at premiums, and therefore at sums beyond what they cost. , . . WHAT THEY DO FOR THE GRAZIERS AND DROVERS. The following are the proportions of Cattle, .st eligible outlet Your Committee w'ould also especially bring under your notice the rapidity with which this District has increased in population and re- sources, establishing the importance of securing for this city the supply of that prosperous country. COMPARATIVE STATEMENT OF YBARB 1842. , 1844. Wheat, 193,350. . ..... — /, , Barley, 46,566 — ... liye, 16,083 — ... Oats, 225,683 — ... Peas, 53,693 — ... Corn, 5,633 — ... Buckwheat, .... 3,567 ....... — ... Potatoes, 249,027 — ... Maple Sugar, . . 21 9,379 , — ... Wool, 40,853 — ... Cheese, — — ... Butter. — ... Turnips, .... — — . , , Neat Cattle, .. 14,579 15,273 26,285 46,552 Rateable Prop. £234,892 £258,763 £477,613 £577,319 This District has therefore, in eight years, increased its produce of wheat over 3^ times, of rye 2^ times, oats more than double, peas 2-^ times, wool 3 times, neat cattle nearly 3^ times, and its rateable prop- erty is 2^ times greater in 1850 than in 1842. Independently of the Waterloo District, there is a most extensive and ferule district to the west and north of Guelph, rapidly settling; which will find the Toronto and Guelph Railroad the most eligible means of sending their produce to market, and the city the most ad< vantageous market in wliich to make their purchases, affording lo our Merchants and mechanics a new field for the e^ctensiou of their busincsft' FROM 1842 TO 1850: — 1848. 1850. [. ..549,557 725,067 26,398 33,286 .... 20,871 38,996 365,5B7. 531,170 59,062 137,933 2,699 10,194 12,320 7,379 .. ..254,485 ,482,917 232,478 80,294 125,790 — 29,498 — 193,429 — 444,556 11 ad' our It is impossible for your Committe«, in the brief period allotied them, to go into a detailed statement of the anticipated income from the line ; they are, however, perfectly satisfied, from tue fact that numerous lines in the United States, passing through very inferior agricviltural districts, and not more densely settled, depending entirely on the local traffic, pay fair dividends, at least equal to^ and generally exceeding, the rate of interest the cily would have to pay for its de- bentures. Your Committee are of an opinion that the risk run by the city is of a very trifling nature, and not at all commensurate tp the great and certain advantage that the city and citizens will derive from the enterprise, even if, for the first year or two, it should not afford sufficient return to provide in full for the interest of the deben- tures — a result which, however, they do not at all anticipate. With reference to the amount, your Committee would recommend the City to subscribe £l 00,000 ; that the town and township of Guelph have subscribed jC3 5,000, and that it is probable the townships on tiie line will make up the sum of £100,000. That it is not probable that even so much as J£50,000 will be subscribed by private individuals, they are therefore of opinion that it will not be advisable for the City of Toronto to subscribe less than £100,000, as in the opinion of your Committee it will be impossible to effect the object proposed with a less amount, and that the voting of a smaller sum will as effect- ually defeat the proposed scheme as refusing all aid whatsoever. Your Committee further have good reason to believe that if this great object is not shortly secured, that the citizens of Hamilton will be called upon to assist in a line from Guelph to Hamilton, and that it is exceedingly probable that we should forever lose the opportunity of securing to this city this large and rapidly increasing market. Your Committee would further take the liberty to remark, with reference to the objection frequently made to Corporations taking •tock in such speculations, and that private capitalists should subscribe the amount, that in a new and comparatively poor country like Canada, where we have no surplus capital, it would be impossible otherwise to : effect any great improvements, and that if our capitalists and merchants should unadvisably subscribe such a large amount of stock, the sudden abstraction of such an amount from the active capital of the country, would inevitably produce a most injurious effect in our financial position, fod probably terminate in a panic bankruptcy and general distress — i while on the olh^r hand, by obtaining the capital on the credit of our municipalities, we should be enabled to divide the period of payments^ and their is a strong probability that a sinking fund may be established for the gradual reduction of the liability — and your Committee have no doubt but that long before the maturity of the debentii-ef;, the Steele will be readily saleable, without loss, to meet them. For the above reasons, and many others which it is impossible in "the brief period allotted them to report, they would recommend • that your worshipful body should issue debentures in support of the Toronto and Guelph Railroad, to the amount of £100,000, with inte- ^ rest payable half yearly, the said amount to be held in the stock of the said company. This Corporation to have such voice in the direction as it will be entitled to in proportion to the amount of stock held by it i pro rcUa as the work progresses. Your Committee have drafted a bill in accordance to your resolution^ 'which they present for the consideration of your worahipful body, and ^ would recommend that the same be presented to the electors of the -' city >nth as little delay as possible, for their decision in accordance ' with the provisions of the Act AU which is respectfully submitted. vi'-^ & ' i'- W)( rv) 'r, fwiii b-r^ L .. *► i - " I' ■. ;-'n.