,e,v.york and Eric Railroad.
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AS many Of our citizens are ignorant OF the m
portant nature of the bill known as Faulkners
BILL which was passed by our Legislature on the
23d April, l643, in behalf Of the New-fork and
Erie Railroad Company, and as efforts are now
making to raise by private subscription an amount
of means sufficient TO complete the road, 1t is
advisable that all should be made acquainted with
the liberal provisions contained in the Act, of
which the following is synopsis. 1t provides,


l For the suspension Of the sale Of the road upon the COG
dtlon that the CGmpnny na resume ne Us r rsn snrs
ac from the Hudson River to Lake Ire within seven years


ID The rlsht Is granted to the Company OF issuing is bonds
To M nmouut three millions doar ota denomination not
less than S the principle 10 be mate payable IN not less
than e g years after md pledge security for them
the whole any portion o the road upon which te WIN be
absolute hen PRIOR TO the Len OF the stale Inc bonus
mol 10 he used for the liquidation oany past Indictment


81 The bonds To be approved and coune',lgned by Kali
roud he appointed by the Governor by and
with the advice the Senate we duty shall also be TO see
that the avai OF The bonds are nltiny hn ~ 3 sN
pended approve and counetsgn all contracts c Dy hu
with Company 10 examine the work III pnse>s as aiIo
vouchers all payments 10 be made and report thereon yeat
the Cansl BOurd untl s-e uct ana appuf'ehace hu
be completed i,.e A. r, , ,h
Legislature may option purchase the same by pnJng hc
due to the creditors oil the Company and the amount OF


its outstanding stock with seven per cent the
on and said purchase shall not be made within te period
named then the Company shall e dShsIS 60 @ en- ma e'sa s
Company By the State.


The Company now owes the State three mil
lions of dollars, which is first mortgage upon
the Road and which the above act discharges
provided certain conditions therein are complied
with. The action of our citizens within the next
three months will determine whether that mort
gage is to be resumed, and the property sold out
to the highest bidder to the sacrifice Of every IN
terest in the city.