WATERED STOCK. N. Y. CENTRAL. 489 



The present share capital of the consolidated roads, in 

 cluding the script dividend, is $90,000,000. The waterings 

 of Mr. Vander built, consequently, exceed the capital actually 

 paid in, by $7,368,400! 



The length of the New York Central & Hudson Kiver 

 Eailroad is given at four hundred and forty-two miles. 

 This being the divisor for the total of watered stock, $48,- 

 684,200, would, give the sum of $110,145 per mile of wa 

 tered stock, for the whole length of the line. 



Is it strange that this Vanderbilt should have his fortune 

 variously estimated at from $70,000,000 to $100,000,000? 

 Who have been made to pay for it ? The people of the West 

 have paid a large share of it, in dividends upon this and 

 other watered stock which this moneyed tyrant has grasped. 

 Will the people consent that the government shall buy this 

 road, and put so much cash in the hands of this unscrupu 

 lous man ? Would not this self-styled &quot;Commodore &quot; be glad, 

 now that he has one foot in the grave, to shift his sins of 

 oppression upon the government, so that his heirs might 

 show clean hands with this ill-gotten wealth ? This is but 

 one instance of watered stock. There have been others still 

 worse, but none probably where the proceeds have so largely 

 gone to swell the hoards of one individual. 



Would the people like to follow out this plan with each and 

 every other road in the country? Would they like to sup 

 plement these with the telegraph lines added; with the vast 

 schemes of corruption and jobbery, that must naturally grow 

 out of this governmental control of railroads and telegraph 

 lines ; and with the vast horde of employees who would be 

 obliged to hold their votes at the behest of the official who 

 had the distribution of this immense patronage ? The an 

 swer, we apprehend, is not difficult. 



