Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations, Part 74

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888
Publication date: 1886
Publisher: New York, W. W. Munsell & Co.
Number of Pages: 1452

USA > New York > Albany County > Albany > Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations > Part 74

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tained from travelers and light freights between New York and Albany, particularly in the winter; that the annual income of the proposed road would amount to $852,000. "This railroad," says this report, " will connect at Albany with the grand chain of railroads now in progress, or contem- plated, from Albany to Buffalo, viz .: the Mohawk and Schenectady, completed; Utica and Schenec- tady, in progress; Syracuse and Utica, contem- plated; Auburn and Syracuse, stock subscribed; Auburn and Rochester, contemplated; Tonawanda, contemplated, from Rochester through Batavia to Attica." Fifty-two years ago there was no railway between Albany and Buffalo, except the short line then known as the Mohawk and Schenectady, and no railway connection between New York and Albany; and the great road now known as the New York Central and Hudson River Railroad was not in existence.

The Albany and Schenectady road had been in operation since September 12, 1831, under the name of the Mohawk and Hudson. The Hudson River Railroad, chartered in 1832, and abandoned for lack of the necessary capital, obtained a new charter May 12, 1846, and on October 3, 1851, the road was opened from New York to East Al- bany. November 1, 1869, the New York Central Railroad and Hudson River Railroad companies were organized by consolidation. The New York Central Railroad Company was organized April 2,

314

HISTORY OF THE COUNTY OF ALBANY.

1853, authorizing the consolidation of the railroads between Albany and Buffalo, as follows:

Albany and Schenectady; Schenectady and Troy; Utica and Schenectady; the Mohawk Val- ley; the Syracuse and Utica; the Syracuse and Utica direct; Rochester and Syracuse; Buffalo and Rochester; the Rochester, Lockport and Niagara Falls; the Buffalo and Lockport.

Articles of agreement, taking effect May I, 1853, were filed May 15, 1853. The first Board of Directors was elected July 6, and the whole line delivered to the new company August I, 1853.

The first railroad ever built in the State was the Albany and Schenectady, chartered in 1826 as the Mohawk and Hudson. It was opened September 12, 1831. In 1847, the name was changed to Al- bany and Schenectady.

Previous to the consolidation of the Hudson River Railroad with the New York Central, the Troy and Greenbush road, chartered in 1845, was leased to the Hudson River road, June 1, 1851, for seven per cent. on $275,000 capital stock. The lease runs during the time of the charter, or any extension of the same. It was assumed by the New York Central and Hudson River road on consolidation.

The New York and Harlem, chartered April 25, 1831, is one of the routes from Albany to New York-formerly from Greenbush-the corporate existence of which was extended December 28, 1874, four hundred years. It leased its steam por- tion, running to Forty-second street, New York City, April 1, 1873, to the Central. This lease ex- pires April 1, 2274, the annual rent being the in- terest on its funded debt and eight per cent. on its capital stock.

Before the construction of the railroad bridges which span the Hudson at Albany, all passengers and freight arriving at Albany en route for New York or the East were shipped by ferry to Green- bush. The two bridges now crossing the Hudson to East Albany are owned nominally by a separate organization called the Hudson River Bridge Company. The ownership, however, is vested really in the New York Central and Hudson River Company three-fourths, and the Boston and Albany Railroad one-fourth. Except for foot pas- sengers, they are used exclusively for railroad pur-

poses. Each company pays its proportion of main- tenance in operating. The cost of the road, con- solidated, with all its rolling stock, etc., was $114, 731,917. Two hundred and ninety-five miles of the road between Albany and Buffalo has four tracks; between Albany and New York there are four tracks. It owns, in all, 2,361 miles of track, and controls by lease 324 additional miles; it owns 655 locomotives, 361 first-class passenger cars and 22,973 freight cars. It employs 15,355 persons, paying them during the year 1883, $8,401, 208 for services. During the railroad year ending Decem- ber 31, 1883, it carried 10, 746, 925 passengers and 10,892,440 tons of freight; the average rate per mile per passenger was: through, 2.05 cents; way, 2.04 cents. The freight rates per ton per mile are .69 cents on through freight; . 67 cents on way. To- tal earnings, $33, 770, 721, from which is deducted, including an 8 per cent. dividend amounting to $7, 148, 131, $33,591,697, leaving a balance in favor of the road of $179,024.

ALBANY AND SUSQUEHANNA RAILROAD COMPANY.

This road was incorporated under the General Railroad Law, April 19, 1851. It was open for travel and traffic from Albany to Central Bridge, a distance of thirty-five miles, September 16, 1863, and to other points at various dates, and to its ter- minus at Binghamton, January 14, 1869. The property of the company was leased February 24, 1870, to the Delaware and Hudson Canal Com- pany for the term of its charter, one hundred and fifty years from April 19, 1851, paying a rental as follows: Six per cent. upon the Albany City bonds; seven per cent. upon the first, second and third mortgage bonds and first consolidated mortgage bonds; seven per cent. upon the capital stock; and $1,000 for maintaining the organization. The interest and dividend are paid by the lessees directly to the stock and bondholders. A payment of $5,000 semi-annually is also made by the lessees to the trustees of the sinking fund of the City of Albany, and is invested by the latter in certain funds for the ultimate payment of the Albany City bonds.

The following statement shows the condition of its funded debt:

315

RAILROADS IN ALBANY COUNTY.

STATEMENT OF FUNDED DEBT.

KIND OF BONDS OR OBLIGATIONS.

IF AND HOW SECURED.

DATE OF ISSUE.

WHEN DUE.

RATE OF INTEREST.

AMOUNT OF AUTHORIZED ISSUE.

AMOUNT ACTUALLY ISSUED.

OUTSTAND- ING.

First mortgage.

By mortgage.

July 1, 1863. July 1, 1888. . 07

Second mortgage.

By mortgage. Oct., 1865.

Oct. 1, 1885.

.07

$1,000,000 00 $1,000,000 00 2,000,000 00 2,000,000 00

1,627,000 00

First consolidated mort.

By mortgage. April 1, 1876. April 1, 1906. . 06 and .07

*10,000,000 00

4,556,000 00

Albany City

By mortgage.

Nov. 6, 1865. Nov. 6, 1895. . 06

250,000 00

Albany City

By mortgage. May 1, 1866. May 1, 1896. . 06

250,000 00

Albany City

By mortgage.

Nov. 1, 1866. Nov. 1, 1896. . 06

250,000 00

Albany City

By mortgage.

May 1, 1867. May 1, 1897. . 06

250,000 00

Total

Total outstanding

$8,181,000 00

* Includes $3,450,000 to be used in exchanging other classes of bonds, as per terms of amended lease.

Albany is largely interested in various ways in the Albany and Susquehanna Railroad Company.

The total cost and equipment of the road was

$6,701,691.55. The following is the balance sheet for the year 1883, showing the moneyed interest of the City of Albany therein:

DR. BALANCE SHEET AT END OF YEAR.

CR.

BY LAST REPORT.

BY THIS REPORT.

BY LAST REPORT.

BY THIS REPORT.

Cost of road and equipment.

$6,701,691 55

$6,701,266 55

Capital Stock. . Funded Debt .. Unfunded Debt

$3,500,000 00 7,134,000 00 1,072,255 91

$3,500,000 00 8,881,000 00

Additions and betterments made by the lessee.

4,706,255 91

5,689,786 63

1,008,786 63

Sinking fund in the hands of the trus- tees of the City of Albany, applicable to retiring the Albany City bonds issned to this company

New York and Albany Railroad Company stock ..

7,000 00

Trustees' account by last report 419 58

907 47

Cash by this report. $887 90

Trustees' account by this report 419 58

Other assets

Income account

419 14 52,513 30

30, 188 60

Total.

$11, 706,255 91 $12,689, 786 63

Total ..

$11, 706,255 91

$12,689,786 63

INCOME OR PROFIT AND LOSS ACCOUNT.

Debit balance of income account, Sep. 30, 1882 .. $52,515 30 Deduct items of gain. 22,326 IO

Balance of income account, Sep. 31, 1883 .. $30,186 60

THE ALBANY AND VERMONT RAILROAD.

This road was chartered October 17, 1857, and was leased in perpetuity to the Rensselaer and Sar- atoga Railroad Company, June 12, 1860, and is operated by the Delaware and Hudson Canal Com- pany. The main line of the road from Albany to Waterford Junction, is twelve miles in this State. Its capital stock, as authorized by charter and paid

in, is $600,000; number of shares, 6,000; number of stockholders, 47.

The total earnings of the road for the year end- ing 1883 were $21,060.00. The charges against these earnings were $19, 200, giving surplus of $1,860.

BOSTON AND ALBANY RAILROAD.

This important and thoroughly equipped rail- way, uniting Albany with Boston, was chartered November 2, 1870. It is made up of a combina- tion or consolidation of roads, as follows: Western Railroad Corporation, established by the Common-

Cash by last report. $487 88

237,466 54

260,237 37

1,307 48

$14,000,00 000|$8,556,000 00

$998,000 00

316

HISTORY OF THE COUNTY OF ALBANY.

wealth of Massachusetts March 15, 1833; Castle- ton and New Stockbridge Railroad Company, in- corporated by New York May 5, 1834. Its name was changed to Albany and West Stockbridge Rail- road Company by an act of May 5, 1836.

On November 11, 1841, a permanent contract was

made for transportation by the Western Railroad Corporation and the Albany and West Stockbridge Railroad Company for the operation of the latter by the former.

On the 24th of May, 1867, the Commonwealth of Massachusetts passed an act consolidating the Western Railroad Corporation with the Boston and Worcester Railroad Company, under the name of

the Boston and Albany Railroad Company. This was done under authority of an act of the Legisla- ture of the State of New York, passed May 20, 1869. By an act of the Commonwealth of Massa- chusetts, passed May 23, 1869, the Boston and Albany Railroad Corporation, the Albany and West Stockbridge Company, and the Hudson and Boston Railroad were united. and became the Boston and Albany Railroad Company. This grand scheme of consolidation was consummated November 2, 1870.

It is a direct route from Albany to Pittsfield, Worcester, Springfield and Boston. The Albany station, at this time, is Union Depot.

STOCK AND DEBT.

BY LAST REPORT.

BY THIS REPORT.

Capital stock as authorized by charter.

$27,325,000 00

Capital stock as since fixed.

20,000,000 00

Capital stock subscribed.

20,000,000 00

Capital stock paid in

20,000,000 00

Funded debt.

10,858,000 00

Unfunded debt

1,012,722 15

906,729 58

Total funded and unfunded debt.

11,870,722 15

11, 764,729 58

Average rate per annum of interest on funded debt. .

5, 6 and 7 per cent.

Number of shares of ordinary stock

Number of stockholders.

200,000 6,124

The cost and equipment of this road was $28, 363, - 874.78, of which $1,215,000 is invested in loco- motive engines and fixtures; $408,000 in passenger

and baggage cars; $1,442,400 in freight and other cars; $1, 182,731.13 in bridges. It has 244 loco- motives, 229 passenger cars, 5,437 freight cars.

CHARACTERISTICS OF THE ROAD.

LENGTH IN THIS STATE. MILES.

LENGTH OUT OF THIS STATE.

TOTAL LENGTH. MILES.

Main line of road from Albany to Boston

39.30

162.35

201.65

Main line laid.

39.30

162.35

201.65

Branches owned (built).

17.33

81.25

98.58

Lines leased (built) or operated

74.03

Total main line (laid), branches owned, and lines leased or operated.

56.63

317.63

374.26

Second track on main line

39.30

162.35

201.65

Second track on branches owned, or lines leased or operated

1.00

8 22

9.22

Total second track

40.30

170.57

210.87

Third track on main line.

8.36

Fourth track on main line

8.35

Total third and fourth tracks.

16.71

16 71

Sidings and turnouts on main line

24.81

125.05

149.86

Sidings and turnouts on branches owned, and on lines leased or operated.

6.99

38.72

45.71

Total sidings.

31.80

163.77

195.57

Aggregate of all tracks on main line, branches owned and lines leased or operated, including all sidings and turnouts.

128.73

668.68

797.41

317

EXPRESS BUSINESS IN ALBANY COUNTY.

Expenses for operating the road for the year 1883, including expenses for specific purposes, $3, 205, 358.65. Of this sum $161,740.06 was paid conductors, baggage and brakemen of pas- senger trains, and $345,879.10 to freight con- ductors, baggagemen and brakemen; $795,383.49 was expended for fuel; $61,328.08 for oil and other lubricants and waste; for loss and damages of goods and baggage, $10,342.89; for damages to property, including damages by fire and cattle killed on road, $7, 116.73; for damages for injury to persons, $17,259.61; for stationery and print- ing, $33,560.05; advertising, $6,268.44; legal ex- penses and counsel fees, $12,685. 11; telegraph services, $17,402.20.

Total earnings of the road, $8, 539, 875. 88. Charges against these earnings, including dividends dated quarterly and rate eight per cent per annum on all stock, except that owned by the State of Massachusetts, for which was given in exchange, $3,858,000 five per cent. bonds, $1,407, 100; making all charges against earnings $8, 303, 904.07, leaving a surplus for the year of $235,971.81.

Of the 8,079,072 passengers carried over the road during the year 1883, not a person was killed or injured. Of the 3,411, 324 tons of freight car- ried, but a small per cent. of the same was injured.

WEST SHORE RAILROAD.

This railroad is properly the New York, West Shore and Buffalo Railroad. For a long time the project of building a road along the west shore of the Hudson, from Weehawken, through Albany, and thence westward to Buffalo, was considered. But the difficulties of construction, especially along the Hudson, were so great, that the plan was delayed until some time in 1880, when it took

definite and active form, and June 14, 1881, it received its charter. It was prosecuted with such vigor, that on July 9, 1883, it was opened for pas- sengers to Albany, and on January 1, 1884, it was opened to Buffalo. Albany is connected with the main line by a branch from Coeymans, a distance of twelve miles south. It is 407 miles by the road from Weehawken to Buffalo. There are, at this writing, 135 locomotives, about 70 passenger cars, and over 3,234 freight cars. The depot of this road is at the foot of Maiden lane, at the Delaware and Hudson River Canal Company's Depot.

During most of the year of 1884-5, through the sharp competition between railroads, resulting in what was termed a "railroad war," rates for passengers were cut to such an extent, that but one cent per mile was charged on all railroads leading out of Albany. The "war" was closed in the Antumn of 1885, and the West Shore is now said to be under control of Wm. H. Vanderbilt, and running as before at the old rates.

RAILROAD DEPOTS.

With all the railroads passing in and out of Al- bany, there are really but two depots in the city. The Central and Hudson River and the Boston and Albany Railroads occupy the Union Depot just north of Maiden lane and east of Broadway. The Rensselaer and Saratoga, the West Shore, and the Susquehanna division of the Delaware and Hud- son Canal, have their depot at the foot of Maiden lane. The cars of the latter pass the steamboat landings, and during river navigation, passengers desiring to take the boats leave the train. The West Shore trains arrive at and depart from the depot at the foot of Maiden lane.

EXPRESS BUSINESS IN ALBANY COUNTY.

IN the early history of this county we find pack-horses, then lumbering wagons, and then stage-coaches drawn by four, six or eight horses, were the usual vehicles for transportation. The cross-road post and the village or country tav- ern served as package offices. These, in time, were superseded on certain lines by the steamboat and canal boat. Then the advent of those more formidable rivals, the railroads, wrought a change truly marvelous,

For many years the stage-coach served as a " carry all," the driver of which was employed to perform many errands, and empowered to transact important commissions of trust, including a mul- titude of messages, bills to collect and money packages to deliver, for which trouble he received a very small perquisite. It may be recorded to their credit, that for honesty and faithfulness, few men have a better record. There are no authentic cases in which they proved recreant or dishonest

318

HISTORY OF THE COUNTY OF ALBANY.

in the performance of the trust committed to them.

Before the introduction of railroads, the stage- coach lines that centered in Albany were numerous, and considered among the most useful and even necessary institutions contributing to the business interests of the city. These lines extended in all directions. Every post-road and turnpike was a mail-route. The inhabitants of every village and hamlet anxiously waited for the arrival of friends, of the mail, and of important messages and pack- ages by stage.

The stage-coach and carrier of the post were as indispensable then as the steamboat, railroad and express systems are now. But their rough life and hard experience was a source of excitement. The stage-driver was a jolly, jovial Jehu, with his four- in-hand team, the envy of all the bigger boys. In the important positions they occupied, they were as proud of their "rig," as the modern locomotive engineer is of his seventy-ton engine, or the con- ductor of his lightning express or palace-car train. Now their swinging throne and exalted occupation are gone.

Providence seems to govern all things for man's welfare. The inspirations that bring forth such marvelous inventions as the whole system of rail- way and steamboat locomotion, the telegraph and ocean cable, the telephone and electric light, may be regarded as of more than human origin.

To William F. Harnden belongs the credit of recognizing a public want before the public had any definite idea of what that want was; and not merely recognizing it, but going practically to work with energy to supply it.

He was the beginner and earliest practical worker of an institution which, for rapid growth and business importance, is without a parallel.

The package express of modern times was un- known until Harnden started it in 1839; although special expresses for the transmission of important private and public intelligence have been in use, occasionally, for hundreds of years past.

Special expresses for the conveyance of im- portant public news were sometimes employed by enterprising newspaper proprietors, as in the case of the Websters, early journalists of Albany.

The origin of the express, as an institution, was brought about by the introduction of the railway, which made a revolution in former methods. Business men began to require a more rapid and safe delivery of valuable packages and sundry parcels.

The old way demanded large confidence, and sometimes became a burden and an inconvenience

to friends and acquaintances. There are now living those who well remember how anxious men were to send by some friend going to New York or Boston, parcels of bank notes, drafts, bills collect- able, or other valuables; and it was expected to be cheerfully performed as a favor. Mutual con- fidence among men at that time prevailed; misap- propriation was almost unknown; embezzlement was punished; and honesty generally regarded as necessary to respectability.

William F. Harnden in the spring of 1834, was conductor on the first train of the Boston and Worcester Railroad. He continued to serve on this road until the close of the year 1838. Weary of working sixteen hours a day, he told his friend "Jim " Hale, one day, that the confined employment of the past years had injured his health, and he was determined to seek some more active business. James W. Hale, the originator of cheap postage between Boston, New York and Philadelphia in 1837, and in a measure the father of the express business in this country, is now "hale" and hearty at 84 years old. Hale ad- vised him to do errands between New York and Boston; that there was an urgent want of a parcel express which would command the patronage of all classes of business men. He at once secured facilities and a contract on the Boston and Prov- idence Railroad.

Little did Harnden, or any other living man, dream what immense results his humble express was leading to.

The earliest public hint of this enterprise is contained in a Boston Newspaper, dated February 23, 1839, in which Harnden advertises: " He will accompany a car himself for the purpose of pur- chasing goods, collecting drafts, notes and bills, delivering packages, bundles and forwarding mer- chandise, etc."

The "extra car " was a little play of fancy; an ordinary valise serving to hold all that the original expressman had to carry for months after this time. The identical valise is now in the possession of Benjamin P. Cheney, Boston. For the first few months, Harnden served as his own messenger; but business soon increased so that he was obliged to extend facilities and employ help.

The burning of the Lexington on Long Island Sound, January, 1840, was a bitter experience to this enterprise.

In 1842, Harnden was upon the top wave of popularity, and his lines began to reach in all directions. When Henry Wells had urged upon

319

EXPRESS BUSINESS IN ALBANY COUNTI.

him, a year or two before, the importance of ex- tending his line to Albany and Buffalo, and thence Westward, Harnden replied: "Put a people there, and my express shall soon follow."

THE AMERICAN EXPRESS COMPANY.

In 1841, or a little earlier, Henry Wells, agent of Harnden at Albany, suggested to George Pom- eroy that it would pay to start an express from Albany to Buffalo. Pomeroy made three trips. His express had been relinquished for some time, when Crawford Livingston proposed to Wells that he should join him in resuming the enterprise. Wells consented, and Pomeroy & Co.'s Albany and Buffalo Express was established. Its transporta- tion at that time was by railroad to Auburn; thence by stage, twenty-five miles, to Geneva; thence by Auburn and Rochester Railroad to Rochester; thence to Lockport, sixty miles, by stage; thence to Buffalo, thirty miles, by private conveyance; from Rochester to Batavia, thirty-four miles, by Tonan- anda Railroad; and thence to Buffalo, forty miles, by stage. The trip was made once a week, and occupied four nights and three days. It is now accomplished in about nine hours.

About 1843, Pomeroy & Co. commenced run- ning a Hudson River Express. They had for competitors Pullen & Copp. This continued only a few months, when Pullen & Copp gave up the Albany and Western business, acting as messengers on the Troy route for Pomeroy & Co.

In the winter of 1843-44, Harnden & Co. sold their Philadelphia Express to George Hatch & Co., who run it for a short time and then sold it to Johnston and William A. Livingston. In a month or two the latter sold out to the former and went to Albany, where William A. Livingston engaged in the express business.

About 1844, the firm of Livingston, Crawford, Wells & Co. was established. This firm continued until the latter part of 1846, when W. A. Living. ston bought the Wells interest in the Western Ex- press, and Livingston & Fargo became a company. W. A. Livingston acted for many years as the agent at Albany for Livingston, Wells & Co.

About this time Henry & Co.'s Express started a short-lived business upon the Albany and Buffalo route.

Crawford Livingston died in 1847, aged thirty- four; Harnden died January 14, 1845, aged thirty- three.

In the autumn of 1849, an opposition express was started over the New York Central Railroad

by Butterfield, Wasson & Co. James D. Wasson was then postmaster of Albany. Both partners had formerly been stage proprietors.

The American Express Company as now exist- ing, is a consolidation of Wells & Co., Livingston & Fargo, and Butterfield, Wasson & Co. These were merged into Wells, Butterfield & Co., and Living- ston, Fargo & Co., which comprise the joint stock concern of 1850. It was then valued at $500,000.

In 1854, the United States Express Company suddenly started into existence as a joint stock company; but after a few months it was merged in the American.

The present United States Express Company was organized in 1854, with a view of doing business on the New York and Erie Railroad. This rail- road company for a time transacted its own express business; but in August, 1858, transferred its ex- press to the United States Express Company, which had no operations east of New York. Another, called the United States and Canada, which trans- acted an express business from Albany to points East and West, in June, 1882, united with the Erie and New England Express from Boston to Bing- hamton, over the Fitchburg Railroad, via Hoosac Tunnel, and the Delaware and Hudson Canal Com- pany. In June, 1883, the United States and Canada Express passed into the hands of the Amer- ican, while the United States withdrew, June, 1885, in favor of the National Express Company.

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Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations, Part 74

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888 Publication date: 1886 Publisher: New York, W. W. Munsell & Co. Number of Pages: 1452

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888
Publication date: 1886
Publisher: New York, W. W. Munsell & Co.
Number of Pages: 1452