Democratic Sentinel, Volume 19, Number 44, Rensselaer, Jasper County, 8 November 1895 — Some Early Financiering. [ARTICLE]

Some Early Financiering.

The Erie Railroad as originally planned was to extend from Dunkirk, on Lake Erie, across New York State to the Hudson river at Piedmont, and thus it was first built. From that place communication to New York city was to be by water. But it was very soon discovered that if the Erie were to be profitably maintained it must have a terminal opposite New York city. Therefore it wss proposed to build a road from Jersey City to the main line of the Erie, connection being made at a place called Sufferu. The obligations of the charter, however, it was found, prohibited the extension of the Erie line through New Jersey to waters on New York bay, so that It seemed that if this were attempted the road might forfeit Its charter. Legal cunning, afterward so many times imitated by those who desired to avoid charter or statutory limitations, suggested the way. At the proposed place of connection a farmer—Sufferu by name—owned a considerable tract of land. His farm was on the boundary line between New York and New Jersey. The Erie managers suggested to him that he build a railroad across his farm. “I build a railroad? Why, I have no money.”

“Never mind that. We will furnish the money. You build the road.” There was nothing in the charter to prevent a private individual building a railroad across his farm, connecting with the Erie in New York State and connecting with the New Jersey road just across the line in that State. This road was to be less than a mile in length. The farmer built it with the Erie’s money, and received in addition to the pay for right of way the concession that all trains were to stop at that junction, and that he might, during his life, maintain the only restaurant at that place. Thus the Erie got an entrance to New York harbor without violating its charter, and those who have traveled over that road and observed that the trains stopped for flvl minutes in the wilderness, as it seems, for there was no other building than Suffern’s restaurant in sight, will, it they read this paragraph, have an explanation for what seemed to them a mysterious thing. Piedmont, which was expected to become a considerable city on the right bank of the Hudson, is only a lonely place with a sad tradition of what might have been.—Holland In Philadelphia Press. /