(No. 10.) RAIL ROAD OFFICE, Hudson, January 3d, 1845. S HON. A. C. FLAGG, Comptroller. SIR:-The Hudson and Berkshire Rail Road Company has failed to pay, as required by the act of April 28th, 1840, the $3,000 into the Sinking Fund for the reasons following: The Board of Directors of said company found it necessary to make some permanent repairs, during this winter, upon a portion of the road, and to provide some new passenger cars, in order to enable them to sustain the operations of the road and pay the interest on the State bonds the coming year. The income of the road the past season, although somewhat exceeding that of the previous year, has not been sufficient to meet such required outlays, and also pay the sum due to the Sinking Fund. Had the Legislature of this State protected their own interest in this road, and prevented the Western rail road from constructing another road along side of it, the income would not only have, at all times, met the demands of the State, but would have paid fair dividends to the stockholders: but instead of this, the State abandoned the road to the "tender mercies" of a powerful foreign corporation, and authorized that corporation to destroy, as far as it could, her own lien and the property of her own citizens. Still, notwithstanding the oppressive action of the State, the directors have hitherto met all the requirements of said act up to this period. They now find that the money intended for the Sinking Fund, must be laid out on the road, or the road must be given up. They intend applying to the Legislature as soon as convened, to have the payments to the Sinking Fund suspended for two or more years, in order to place themselves in a better condition to meet the demands of the State. The interests of the Sate and of the stockholders will both be promoted by such a suspension, and it is believed that it will readily be granted. If you feel it your duty to make any communication respecting this subject to the Legislature, picase state our reasons and intentions. Yours, very respectfully, J. W. FAIRFIELD, President. |