THIS company was incorporated by special act of the New York Legislature, in May, 1845, for the purpose of constructing a railroad from the head of Seneca Lake to the Erie Railway, in the county of Chemung. The line was opened in 1849, having been leased, while in the course of construction, to what was then known as the New York and Erie Railway Company. The first lease was for a period of ten years; and at the expiration of that period it was renewed, in January, 1859, for another term of twenty years; but in May, 1872, this agreement of lease was forfeited, and the property has passed into the hands of the Northern Central Railway Company, who, although nominally lessees, own a majority stock interest in the Chemung, and Elmira, Jefferson and Canandaigua Railroad Companies. As the doings in transportation of the line between Elmira and Canandaigua are reported together, it will be appropriate in this connection to give the official statistics for year ending September 30, 1873, noting, however, first, that the road from Canandaigua to Jefferson (now Watkins) was built under the charter of the Canandaigua and Corning Railroad Company, which subsequently became embarrassed, and was re-organized under the title of Elmira, Jefferson and Canandaigua Railroad Company. According to the returns made to the State engineer’s office, the liabilities of the road from Elmira to Canandaigua (69 miles ) are only $880,000, or $12,753 per mile, of which $380,000 appertains to the Chemung, and $500,000 to the Elmira, Jefferson and Canandaigua Company. Earnings for year ending September 30, 1873, amounted to $765,485.89, derived from the following sources: from passengers, $ 149,972.67; from freight, $612,141.49; from miscellaneous sources, $3371.73. Expenses for the same period were $ 547,655.73; distributed as follows: for maintenance of way and structures, $ 127,158.043; for locomotive repairs, $51,506.99; for car repairs, $ 8353.90; for conducting transportation, $ 243,667.62; for general expenses and contingencies, $ 116,969.18. Net earnings were $ 217,830.16, out of which was paid $25,000 as rental; and the balance, $ 192,830.16, was available for dividends on the share capital, and for accrued rental.
LIST OF DIRECTORS .
J. D. CAMERON, Harrisburg, Pa.
J. N. DU BARRY, Baltimore, Md.
THOS. A. SCOTT, Philadelphia, Pa .
EDMUND SMITH, ” “
J. D. F. SLEE, Elmira, N. Y.
J. A. REDFIELD, “ “
C. J. LANGDEN, “ “
E. WISEMAN, ” “
H. C. FRENCH, Elmira, N. Y.
S. F. BARR, Harrisburg, Pa .
J. M. FOSTER, ” “
J. S. LEIB, Baltimore, Md.
S. LITTLE, Baltimore, Md.
N.B. -Communications should be addressed to the office of NORTHERN CENTRAL RAILWAY COMPANY, Baltimore, Md.
Source: American Railroad Manual, 1874, p. 105, Found on Google Books.