ALBANY LUMBER MARKET. 



447 



Tons of forest products carried dij the Xeto York Central BaUroad and the Erie Eaihcay 



since 1856. 



Albany lumber tnarlet. 



From ita location at the tide-water end of the Erie and Charaplain 

 Canals, Albany, and, to a large extent. West Troy, have become the 

 seat of a lumber-trade, which, in the aggregate value of sales, is un- 

 equaled in America, although in number of feet sold they are exceeded 

 by Chicago. Waterford, in Saratoga County, has also become a point of 

 trade, more especially in timber, of great importance. The supplies at 

 this point come entirely from the Champlain Canal. 



The lumber district of West Troy extends along the river bank, be- 

 tween the canal and river, for a considerable distance, toward the upper 

 part of the village. 



The lumber district of Albany lies between the Erie Canal and the 

 Hudson Eiver, from the former of which over thirty slips have been 

 coaetructed for the convenience of unloading boats, while along the 

 latter substantial piers have been built for loading vessels. The lumber 

 district proper is bounded south by North Ferry street, where it i^ about 

 500 feet wide, and, gradually spreading as it runs northward, in the dis- 

 tance of something over a mile it becomes 1,150 feet wide between the 

 canal and river, occupying in all an area of over 100 acres. The slips 

 extend at right angles from the canal, on the berme side, to within about 

 150 feet of the river. The largest is about 1,000 feet long, and several 

 have cost $25,000 each. The ground belongs to the Van Kensselaer 

 family, and is rented at about 18 per cent, upon cost of construction. 

 Of late years, the slips have been built by the dealer, who retains what 

 he would have paid for rent, until this, with the interest upon it, amounts 

 to the cost of construction, when the slip becomes the sole property of 

 the landlord, and subject to rental as if built by him. A slip will pay 

 for itself in this way, in about eight years. 



Some forty firms and separate dealers are doing business in the Albany 

 lumber district, and mostly within the limits above described. Many of 

 them own mills in the lumber regions, and boats and vessels for transpor- 

 tation, while others buy or sell on commission, or on joint account. A 

 number of them unite these various modes of dealing, and some are not 

 limited to particular rules, and make arrangements as they find advan- 

 tageous. 



