Collection of Manuscript material by Benjamin Loder, President of the New York & Erie Railroad, dated 1844-1853
Collection of manuscript material including correspondence and manuscript drafts of speeches (20 items, 54 mss pp.) all pertaining to Benjamin Loder's involvement with the New York & Erie railroad as its tenth president, 1845-1853.
The collection includes about half incoming letters to Loder and half manuscript drafts (speeches, letters, etc.) in the hand of Loder. A few of the speeches/addresses are about 8-10 closely written pages and contain much interesting historical content on Erie railroad history and facts. Collection includes as follows:
-E. Pierson's letter on Loder's appointment as Director of RR, 12 Dec 1844 [1 p.].
-Statement (by Loder) of some particulars of the purpose of the bill of May 1845, [8 p.].
-A. Birdsall congratulating Loder on election as President, 26 Sept 1845 [1 p.].
-E. B. North congratulating Loder on the subject of getting subscriptions for RR, 15 Oct 1845 [1 p.].
- Samuel A. Foote congratulating Loder on the successful opening of railroad, 3 Jan 1849 [2 p.].
- Copy of Loder Letter to Mary E [et al] the first letter sent in the first mail of the RR to Binghamton, NY, dated 6 Jan 1849 [2 p.].
- Letter from N. Marsh, congratulations letter, dated 21 Dec 1850 [2 p.].
- Letter of Nathaniel Marsh, relating resolution of Board of Directors to give Loder 100 shares of stock of RR for his services to RR, dated 21 Dec 1850 [2 p.].
-Rough Copy of Loder Address at Dunkirk at the Celebration of the Completion of RR, 1851 [1 p.].
-Copy of Loder's Letter offering resignation as President of NY & ERR, dated June 1851 [3 p.].
- Henry McKinney relating to changing name of Great Bend to Loderville, 2 Feb 1852 [2 p.].
-Copy of Loder's Letter of Resignation as President & Director, 6 June 1853 [5 p.].
-Copy of resignation announcement at Board of Directors meeting, 13 July 1853 [1 p.].
-Nathaniel Marsh letter on resolutions passed by NY & ERR Directors upon accepting Loder resignation, dated 13 July 1853 [1 p.].
-Copy of letter sent to [Nath'l] Marsh about resignation, not dated [1 p.].
-Part of Loder Address upon Selection for the 6th Time as President of Erie RR, not dated [2 p.].
-Rough Draft of Loder Address on Making a Call for the 3rd Installment, not dated [6 p.]
-Rough Draft of Loder Address on opening of railroad at Owego, not dated [3 p.].
-Draft of Address by Loder, on history of the Erie RR, not dated [10 p.].
- Small printed map of Boston Harbor & Erie RR, Appleton's RR Guide (this item docketed by Loder) & a couple of old newspaper clippings related to railroad.
The New York & Erie Railway, generally known as the Erie, was granted a state charter in 1832 to build a line through the southern tier of counties in New York from Piermont-on-Hudson (25 miles north of New York City) to Dunkirk on Lake Erie. Eleazor Lord, first president of the Erie, had two unique ideas - build the railroad in the broad six-foot gauge and use pilings instead of the normal roadbed. Pilings were soon abandoned, and the offbeat broad gauge lasted only until 1878. In 1845, when Benjamin Loder replaced Lord as president, only 53 miles of the Erie was complete. Loder, said to be a hardheaded New York City dry goods merchant, found new money and completed the 460-mile road in 1851 at the cost of $23 million. At mid-century the Erie had several inherent weaknesses -both of its terminals were only hamlets, there were no cities of any size along its route, and it was difficult to reach either Buffalo or New York City.
The Erie Railroad when completed was the first line to connect the Eastern Seaboard with the Great Lakes, and as well it was the longest trunk line at that time in the world. It celebrated its completion with a grand celebration in mid-May with two passenger trains headed for Dunkirk. The first train on the completed route of the New York & Erie Railroad left Piermont on May 14, 1851. Dignitaries on this trip included Millard Fillmore, Daniel Webster, Stephen Douglas, Matthew Perry, Hamilton Fish, William Seward and more. As Loder wrote in one of his manuscript speeches, "There is no work undertaken in this country during the last half century (except perhaps the Erie Canal) which has had directed to it more public attention..."
Fifteen years later bankruptcy brought the line a new name, Erie Railway, with Daniel Drew, Jay Gould, and Jim Fisk in control.
According to his obituary in the New York Times (12 Oct 1876), Benjamin Loder was one of New York's most highly esteemed dry goods merchants, whose store at No. 79 Cedar Street, was well-known in its day. He was solicited to become the President of the Erie Railroad at a time when the railroad was built as far as Goshen, NY, and became bankrupt. He took the presidency with a great deal of reluctance and continued in that position until the road was completed. It was through his high business standing and credit as well as his persistent efforts, that the money was raised to complete the road. His arduous labors in behalf of the road came very near costing him his life, and it was to prolong it that he retired from its management after completing the building of it.