The Story of the Rome, Watertown, and Ogdensburg RailroadHungerford, Edward
History
The Story of the Rome, Watertown, and Ogdensburg Railroad
Hungerford, Edward
Railroads -- New York (State) -- History; Rome, Watertown & Ogdensburg Railroad Company
That road was in its most important change of management--the succession
of the Parsons' administration to that of Samuel Sloan. Charles Parsons
had had his eye upon the Utica & Black River for some time. It was a
potential factor of danger within his territory. Suppose that the
Vanderbilts should come along and purchase it? That nearly happened twice
in the early eighties. There was strong New York Central sympathy and
interest in the U. & B. R. It showed itself in an increase of traffic
agreements and coöperative working arrangements. The Rome road tried to
offset this strengthening alliance of the Utica & Black River by making
closer working agreements with the New York, Ontario & Western, which it
touched at Rome, at Central Square and at Oswego. But the O. & W. with its
wobbly line down over the hills to New York was a far different
proposition than the straight main line and the easy grades of the New
York Central. It is possible that had the West Shore, which was completed
through from New York to Buffalo in the summer of 1883, been successful,
it might eventually have succeeded in absorbing the Rome, Watertown &
Ogdensburgh; in which case the New York Central certainly would have taken
the Utica & Black River, and the competitive system of railroading been
assured to the North Country for many years to come. But that possibility
was a slight one. The disastrous collapse of the West Shore soon ended it.
Yet the Utica road was a constant menace to Charles Parsons. No one knew
it better than he. And because he knew, he reached out and absorbed it;
within three years of the day that he had first acquired the R. W. & O. He
not only guaranteed the $2,100,000 of outstanding U. & B. R. bonds and
seven per cent annually upon a $2,100,000 capitalization, but, in order to
make assurance doubly sure, he purchased a majority interest of $1,200,000
of Utica & Black River shares and turned them into the steadily
strengthening treasury of the Rome, Watertown & Ogdensburgh. The Utica
road formally passed into the hands of the Rome road on April 15, 1886.
The mere announcement of the transfer was a stunning blow to the North
Country.
Public-domain text, read in full here on John Shaqi.
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