The question of finances was always a delicate and a difficult one. In the minutes of the Board for May 10, 1848, I find that the question of where the road should bank its funds had been a vexed one, indeed. It was then settled by dividing the amount into twentieths, of which the Jefferson County Bank should have eight, the Black River, four, Hungerford's, three, the Bank of Watertown, three, and Wooster Sherman's two. Gradually these funds accumulated. The subscriptions had been solicited upon a partial payment basis and these initial payments of five and ten percent were providing the money for the expenses of organization and careful survey. This last was accomplished in the summer of 1848, by Isaac W. Crane, who had been engaged as Chief Engineer of the property at $2500 a year. Mr. Crane made careful resurveys of the route--omitting Pulaski this time; to the very great distress of that village--and estimated the complete cost of the road at about $1,250,000. It is interesting to note that its actual cost, when completed, was $1,957,992. * * * * * In that same summer, Mr. Brainard retired as Treasurer of the company and was succeeded by Daniel Lee, of Watertown, whose annual compensation was fixed at $800. Later, Mr. Lee increased this, by taking upon his shoulders the similar post of the Potsdam & Watertown. The infant Watertown & Rome found need of offices for itself. It engaged quarters over Tubbs' Hat Store, which modestly it named The Railroad Rooms and there it was burned out in the great fire of Watertown, May 13, 1849. All of these were indeed busy months of preparation. There were locomotives to be ordered. Four second-hand engines, as we shall see in a moment, were bought at once in New England, but the old engine _Cayuga_, which the Schenectady & Utica had offered the Rome road at a bargain-counter price of $2500 finally was refused. Negotiations were then begun with the Taunton Locomotive Works for the construction of engines which would be quite the equal of any turned out in the land up to that time; and which were to be delivered to the company, at its terminal at Rome--at a cost of $7150 apiece. Horace W. Woodruff, of Watertown, was given the contract for building the cars for the new line; he was to be paid for them, one-third in the stock of the company and two-thirds in cash. His car-works were upon the north bank of the Black River, upon the site now occupied by the Wise Machine Company and it was necessary to haul the cars by oxen to the rails of the new road, then in the vicinity of Watertown Junction. Yet despite the fact that his works in Watertown never had a railroad siding Woodruff later attained quite a fame as a builder of sleeping-cars. His cars at one time were used almost universally upon the railroads of the Southwest. * * * * *