New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-04-24
A n n RE 8
OF the President and Directors Of the Pontchar-
train Railroad Company to the Common Council
of New Orleans, relative to the proposed con-
struction of the Railroad from New orleans to
Mobile.

oFeicg OF THE PoSTcHARrRAIN RatLRoAp COMPANY,
New Orleans, April 10 1854.
4 the Honorable the Common Council Of the City Of
6touteme1-Phe undersigned, the President and Direct
Of the pontehartrain Railroad Company, respectfully
submit the following statement
Previous TO making application to the Legislature oil
Louisiana to pass the bill whsh authorizes the city Of
New Orleans subscribe for 600 shares in the stock Of
the Ponohartran Railroad Company payable in bonds OF
the city thirty date every step mad
bean commenced and is contaminated, that wsa es-
senta to provide for the construction OF haroad from
New Orleans Mobile so that If your honorable body
shall it conducive to the interests you represent 70
sanction the subscription the work at be put
operation and pushed forward with all speed,
The preparatory steps alluded to were
First thorough survey of the contemplated line Of
road to ascertain the practcahiy of the work and Its
cost the surveys drawings field notes, pro6es and est
mates of which, together with enginsers reports (made
out with great completeness and accuracy now ready
for inspeeon the office Of the company the First
District over the Southern Bank. When this work
finished, it made clear that no mpedments existed
either ply ical or pecuniary
Next Competent legal advice was had in examining
the charters granted by the States of Alabama and Mis-
sssppi to the Mobile and New Orleans Railroad Company
They were found defective and at considerable labor and
ernsnsa have been amended in every particular SUBJ
serve the interests of the Company and copies of all in
printed form submitted One invaluable proyi-
sion has been secured in the Mississippi charter whichis
that no other road can be built parallel to the New
Orleans and Mobile Railroad through the counties ofJack
son Harrison and Hancock, for the space Of twenty-five
years This privilege is in terms exclusive (see See p.
l2) thus aordng most important security to the city
of New Orleans that rival road will impair her interests
in this company giving like security to the capitalists
who have proposed take the bonds for the tCo to0k
without which the undersigned have to know that
the entire negotiations could not have been effected.
The next point ascertain the practeability Of
selling the bonds 1t idle go through this various
abors attendant upon bringing this measure in practical
business form before your honorable body unless there
was some certainty selling not only the bonds issued
BY the city of New Orleans, but much of the
bonds of the companies would be necessary to complete
the whole undertaking
The house OF Messrs. Corning & Co., of New York
propose to make the entire negotiation at the SAINT
time this negotiation may be unnecessary parties ohe
to take the contract for constructing the road payable
bonds So much attained. the right of way ther
to he considered At the New Orleans terminus tn,
company already owned in fee simple river front Of g
feet running back the breadth to where the roaC
will diverge onward to Mobile and owned its depot OF
the Leyee remained to obtain similar advantages
The Mobile terminus, and the right of way through tina
CITY By ndicous choice of the point for the depot
objections and the privilege asked for vii
| be granted
On the line eli the road through the rural part of tn
State Of Alabas the right of way through private pro
pery every instance been accorded without charge
and the of the parties thereto in writing Is de
posted in the Office of the company in Mobile, and tn
agents OF the company have nearly completed the ntir
route through Mississippi With equal success