Rochester and Syracuse Railroad
| Locale | Rochester, New York to Syracuse, New York |
|---|---|
| Dates of operation | 1850–1853 |
| Successor | New York Central Railroad |
| Track gauge | 4 ft 8 1⁄2 in (1,435 mm) standard gauge |
The Rochester and Syracuse Railroad was incorporated on August 1, 1850, authorizing the consolidation of the Auburn and Rochester Railroad Company and the Auburn and Syracuse Railroad Company. The consolidation also involved the acquisition of all the rights and property of the Direct Railway, established in 1848, between Syracuse, New York and Rochester, New York, and the construction of that road as a part of the consolidated road.
The Auburn and Rochester Railroad Company was incorporated May 13, 1836, and opened in August 1841. The Auburn and Syracuse Railroad Company was incorporated May 1, 1834, and opened in June 1838. Both railroads combined on August 1, 1850, and the consolidated company constructed the Direct Railway between Syracuse and Rochester.
The consolidation involved the acquisition by the new company of all the rights and property of the Direct Railway Company, incorporated June 18, 1848, and the construction of that road as a part of the consolidated road. This required that the capital stock of the newly formed company must be greater than that of the two consolidating companies. A meeting of the two Boards was called on July 17, 1850, in Syracuse, and the consolidation agreement was made and signed that day.
The actual cost of the new road prior to June 1, 1853, was $2,001,340, with work undone estimated to cost $25,000. The capital stock only totaled $4,200,000 and was therefore inadequate by over $1,000,000 to cover both the old stock and the new construction.
The rail was consolidated into The New York Central Railroad Company under the act of 1853.
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Wikipedia