Weekly national intelligencer., 1854-11-25
THE TEXAS PACIFIC RATaRoAD..

/ ,8
THE TEXAS PACIFIC RATaRoAD
Teegraphic despatch, published several days aeo.
stated that Governor PEAsE of Texas had refused to re-
ceiye the stock offered by Messrs WAIxrn Krss and
associates as depose to the Pacific Railroad con-
tract now appears probable that the has BEEN
accepted We gather from the Austin State Times the
following history Of transactions in relation to the
contract:
On the 2lst Of October Mr.. George Haacock placed
in the hands of James H. Raymond, State Treasurer a
Iron Company at $3.50 per SHARE amounting to three
hundred thousand dollars On the 28h October arrived
report Of the Sussex Iron Company exhibiting the con-
dition OF that corporation accompanied by an Official
communication from Rodman NJ Price Governor Of the
State Of New Jersey, the correctness Of the
exhibit the solvency Of the company and the par value
Of the stock Geo. NJ Dallas exyice President Of the
United States and Chancellor Kent of New York both
gave certificates corroborang Goy Prices and express
ing opinions that the stock par and fully satisfied
the requson Of the twelfth section of the for the
construction OF the Mississippi and Pacific Railroad
Previous the arrival Of these evidences OF the value
OF the stock Mr. Raymond gave Gov Pease an informak
notice of the reception Of the stock and submitted he
papers to him for his examination; and we understood
from good authority that the Governor declared thew
would not answer.
On the 2Sth Of October Mr.. Raymond notified tho
Governor officially of the reception OF the stock and de-
signated its character On the S0h of October his Ex
ceency the Governor addressed communication to Mr.
Raymond, the State Treasurer, in which he gave an
opinion that the stocks Of the Memphis Mechancs Bank
and also OF the Sussex Iron Company par or
to use his expression, consider them insufficient
From last summer up to within few days past the
Governor had assumed the right Of judging Of the su
cency OF the securities offered deposite but ii was
conendcd that in accordance with the twelfth section of
the act the Treasurer the only legal authority to de-
eide the question.
On the ID November Gov Pease addressed the follow
ing note to Mr.. Raymond, the State Treasurer:
ESFeurIvr OFFICE, AusEn. Ea,.. TEXAS; a.,
SIR It has become my duty officially to INQUIRE Of YOU
whether sJR a AMeasF y IWslksr Butler King, NJ T. John
Hancock, John Hancock Jss II. Raymond James
VIM. ii. Bourland, H. p Bee, John w. Harris Matt Ward
who entered into contract with the Governor of this Stats
on the 3i day Of August last the Mississippi
and Pacific Railroad under the provisions of An pro-
vide for the construction of the Mississippi and Pacific Rail-
road approved December 2 1853 have deposited YOU
the Treasurer Of the State Of Texas three hundred thou
sand dollars in gold silver evidences debt the State
of Texas, other good par stocks guarantee fifty
miles or more of said road shall be constructed and
pete order business within the term of eighteen month";
from the date of said contract accordance with the prov
sons of the 18th said the the said
contract? And also whether such deposite was made and
accepted by you within sixty days after the said parties en-
tered into said contraot An requested your
earliest convenience. t
Very respectfully your obedient servant,
e. M PrAsK.
This latter reopens the whole question The no.
tees made last week were predcated the decars
tons of the Governor and others cognzan of transpng
tract having expired with the refusal of the Governor
to receive the deposte Mr. Raymond made the follow
ing reply to the Governor:
TREAsuRrR's orFIcE, AUSTIN,
h NOVEMBER A, 1851
SIR have the honor acknowledge the receipt of your
Exceencys favor Of the Cd instant propoundng
que relative the depo Of by the
for the building of the Pacific Railroad A
now respectfully beg leave to all of your inquiries
in the affirmative; and further state that earliest
ment possible will lay before your Excelency my reasons
for so doing.
have the honor be your Excslency obedent servant
JAMES H. RAYMOND.
Judging from the Governors inquiries ii may be infer
red he will take the view entertained by others deem
the matter settled by the act Of the State Treasurer. IL
such be the there Is congratulate the peo
pie of Texas upon the final disposition Of question Of
vast Importance to them in every point Of view Up to
this period have discovered nothing in the bear
ing ofthe Pacific Company to impair confidence.
The Galveston Civilian does coincide opinion with
the Austin Times the consummaon Of the contract
| The Civilian says:
"The Governor or others may have entertained some
doubt as to whether he had any thing do with the de-
posite until after the Both 0ctober but he holds that ha
then clearly had the right to speak, the law says In
case Of failure depose said amount within the time
prescribed said contract shall be null and void and the
Governor is authorized to enter into another contract
So the Treasurer presented the bonds the
vernon for consideration (Which done the latter ox-
amined aud returned them with his opinion that thew
sequently this repeated in formal manner i'm
writing The Governor now says that even If the Trea-
has accepted them they good deposte and
be the Goyernor considers the contract null and void
This know to be the case, and it will appear in due
time in official shape"