Semi-Annual Report of the Board of Directors of the Long Island Railroad Company, to Its Stockholders
(Long Island Rail Road)

1843. F 8 pages; Detailing earnings for the company to date, mentioning the resolution of the Directors to continue with completing the work of building the rail line, buying the iron materials in England. Speaks of the commencement of the Hicksville 3d division portion begun in 1841, costs, more; "...A negotiation with the inhabitants of Greenport for a Depot, has resulted in the free cession to the Company of five acres at the terminus of the road, having a water front of 300 feet, with a depth of water sufficient for the largest class of merchant ships...The Board have recently invited and recieved proposals from several of the most celebrated and successful builders of Locomotive Engines and Cars, and care will be taken that every improvement in this department which itis found will ensure the speed, safety, and comfort of passengers will be fully embraced...Many inquiries have been made as to the contemplated hours of departure from New York on this road. ..." going on to discuss possible schedule times. Express companies made propositions to running Expresses on the route; also mentioned are the possible profits to be gained from running the line, the increase in stock value: "...this road traverses a rout(e) which affords extensive resources of transportation and passengers, which experience has shown to be sufficient to defray every expense of the Company, and leave annually a surplus towards dividends....this road will make returns to the stockholders amply adequate to its cost. By order of the board. Geo. B. Fisk, President New York December 28, 1843"; Fisk had co-led a committee of disgruntled stockholders in the late 1830s who were angry with the handling of the company's assets and stocks by the Directors at the time; the engineer's report is also included, which discusses negotiations for rights-of-way, the depot at Greenport, contracts for the completion of the whole road, employment statistics: "...The whole force at present employed upon the Road (including horses rated at two men) 346 men...", timber contracts, grading, laying of superstructure, more, James I. Shipman Chief Engineer; pamphlet format, 5 1/4" x 8 1/2" approx. size; dated 1843 internally, no publisher or place; some edge, tips wear, chipping and dustiness to original blue side-sewn printed paper wrap covers; very good condition and of great interest at this point of the development of the Long Island Railroad, often beset with a rocky financial condition and stock manipulation accusations. Very Good S (Item ID: 14064)

$250.00

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