bridge road, as well as of the Western Rail-road, there seems to the undersigned an absolute necessity for grading that part of the road for a double track.

During the progress of the surveys upon which these results were disclosed, the Chief and Resident Engineers were requested to make a careful and minute examination and survey of that part of the present Hudson road lying between Groats and the State line, with a special view of ascertaining the character and condition of the work, and its capacity to sustain the business destined for the Western and Albany roads. That examination was had, and the Engineers have given an opinion, that that road is wholly incompetent for such a business, and that it will not sustain the engines necessary for the beneficial use of the united roads. It has grades upon it of 41 feet and upwards per mile for 7 miles, 4 nailes of which, are from 71 to 80 feet per mile. A strong desire was therefore entertained, either to make a radical improvement of that road, and to lay down a heavy T rail upon it, or to make a new road there, entirely independent of that, or one occupying a portion only of the bed of that road.

With this view, the Engineers had previously commenced, and have now closed surveys and estimates, for each of these modes of remedying the difficulties thus interposed, and it has been ascertained that a good route may be the re obtained, either wholly, or principally independent of the Hudson road, at a grade not exceeding 40 feet per mile. The estimates upon the se modifications will be stated hereafter. In the meantime, a full representation of all these facts, so far as they were then known, was made to the Directors at Albany, by the Agent, near the close of November last; and through them to the Common Council of the city of Albany. And that body unanimously resolved to apply to the Legislature of New York for authority to subscribe a further sum of $350,000 to the stock of the Albany and West Stockbridge Rail-road Company, and to issue further bonds or Scrip to that amount. The undersigned have no reason to doubt that the authority will readily be given, and the proposed subscription made in good faith. A confidence in the result has induced them to proceed with the work between Albany and Groats without delay, as before stated.

The following statement, prepared by the engineers, is submitted as an estimate for the cost of the Albany and West Stockbridge Railroad:

1st. From Albany to Groats, about 22 miles— Grading, bridges and masonry, including Greenbush De

Depot Lands, including for Pier Wharf Ferry, &c.,

41,154

Engineering, superintendence, instruments, &c.,

26,745

2d.-From Groats to the State line, single track and

$1,412,804

Total, for independent road, Albany to State line, 38,115 miles,

By the use of the Hudson road to the greatest extent practicable, say 5 miles, unless that road is adopted entirely with the grades now upon it, the estimate from Groats to the State line may be reduced by

46,400

For repairing the present road-bed, masonry and bridges of the Hudson road, and laying a heavy rail, the estimate of the engineers is

And for grading and bridging the same for a second track, and laying superstructure,-iron rail,

Each of the three last items is exclusive of any payment to the Hudson company for the necessary privileges.

155,551

212,857

Upon the question of the probable income of the road within the state of New York, the undersigned have collected no statistical information, and have made no particular calculations. Nor have they deemed this necessary to satisfy the friends of the Western road of the importance, and, indeed, the absolute necessity of constructing it, and that in the best and most permanent manner. They consider it as the key to the whole Western business-as the key-stone of that magnificent work, to the construction of which the energies and resources of the State, and of her citizens have been devoted, with patriotic ardor, for the last five years: and upon the completion of which have, for so long a period, been suspended the hopes of every friend to the advancement and prosperity of our ancient Commonwealth.

But independent of this consideration, they believe that that road will, in itself, be a profitable investment. Upwards of 20 miles of it are upon the same line with the New York and Albany Rail-road, and must do the business of that road-90 miles of which have been recently advertised for contract. The Housatonic Rail-road, extending from Bridgeport on the Sound through Connecticut and Massachusetts, forms another important auxiliary, whose business with Albany and the West must pass upon the whole length of the Albany and West Stockbridge Rail-road. Thirty-five miles of that road are in operation, and thirty-nine miles more are now grading, and are to be opened to the public the present year; and a road contemplated from Greenbush to Troy, 6 miles, will soon open a communication with that city, and with the whole northern line of rail-roads, and lake navigation. And when to these sources of income is added the business of the Western road, it seems to the undersigned, that even the most cautious and timid must concede, that the Albany and West Stockbridge road cannot be an unprofitable undertaking.

The receipts and expenditures of the Corporation for the year past as stated by the Treasurer's account of January 1, 1841, are as follows:

RECEIPTS.

Balance of Fifth Annual Account, January 1, 1840, .

Received on 3d Assessment,

350

To entitle the Corporation to the full benefits of the Act of 1839, to aid the construction of the road, they were required to lay two additional assessments upon the stock of the company of five dollars each, and to collect a specific amount upon cach from the private StockholdThese assessments have been laid, and the required amounts collected upon them, during the past year.

ers.

The amount of capital paid in is the proportion which is collected upon the eight assessments of $150,000 each, laid upon the stock, amounting in the whole, to

And there had been collected upon these on the 1st of January inst., the follow

ms, viz:

$1,200,000