The expenditure for the outfit, when the Road is opened through, will not exceed $1,340,000, leaving $650,000 of the estimate for this item to be disbursed after the Road is finished, to meet the demands of the increased business for the _time_ stated. This will leave the cost of the Road and outfit, when opened for use, in connection with the Portage Road to Pittsburg, as follows: Cost of Road, with single track and turn-outs, as estimated $6,365,706.00 Less estimated cost of unfinished grading required to prepare the Road for double track 450,000.00 ------------- Leaving cost of grading and superstructure of Road $5,915,706.00 To this add interest account $450,000 And land damages and fencing 154,294 -------- 604,294.00 Also, cost of locomotives, shops, depots and cars 1,340,000.00 ------------- Total $7,860,000.00 The Board having wisely determined in no event to enter into engagements beyond their ascertained means, I have thought it best, thus early, to present an estimate of the cost of the whole work for their guidance. It will be recollected that the estimate for the grading is made, in part, upon experimental surveys, with full allowances for contingencies. By the close of the year we hope to be able to give an estimate of the whole Road, in detail, from actual location, which may show a somewhat reduced cost. Under the contemplated connection with that road, the Allegheny Portage becomes an important part of our line, and, for the information of the Board, I insert the following description of it, extracted from a pamphlet written by S. W. Roberts, Civil Engineer: "The Portage Railroad consists of eleven levels, or graded lines, and ten inclined planes. The ascent from Johnstown to the summit is 1,171.58 feet, in a distance of 26.59 miles, and the descent, from the summit to Hollidaysburg, is 1,398.71 feet in a distance of 10-1/10 miles. There are five inclined planes on each side of the mountain, varying, in inclination, from 4° 9´ to 5° 51´, or from 7.25 feet to 10.25 feet elevation to each 100 feet base. They are numbered eastwardly, the one nearest Johnstown being No. 1; that nearest Hollidaysburg, No. 10. The following table shows the length, rise and fall of each 'Level' or grade line, and each inclined plane."