The true Democrat., 1854-09-20
The Pacific Railroad.
Walker, King, & Co.'s Bid Accepted.


 road. First-By Chatfeld, as former Presiden, of the Atlantic and Pacific Railroad Company, which was illegal, for the following reasons 1st because it was never authorized by the company; 2d, Chatfeld has long since ceased to be President of the company. All his DOW CTS were revoked by the Board of Directors. and entrusted to Messrs Walker & King Notwithstanding the successful efforts of Messrs. Walker x King to relieve that company from the mal-administration of Chatfeld, vet such ferlous apprehensions were entertained that the stock, improperly issued before Mr. Walk CT became President of the company and against ms protest, might embarrass operations under the Texas charter, and subject the new compa- ny to suits and injunctions by surreptitious claimants of stock-which suits, although they would ultimately fail of success, might retard or defeat the construction of the work-that no bid, consequently, could be accepted from this company however presented, or however -much all mig sht be satisfied with the present or ganzation. This bd therefore, being illegal and unauthorized, was, of course, rejected.
 Second-the bid of Messrs Beaumont & Woodward This was for 1928, 75O per mile. It was in opposition to all the requirements of the law, and therefore could not be considered.
 Third-The bid of MT. Bremond, etc., which proposed to commence the road at Houston. Now, the law required the road to commence at the eastern boundary of the State, and there fore this bid was illegal
 Fourth-The Atlantic and Pacific Company being, for the reasons stated, out of the oues tion, the fourth bid was in the name of Mcssrs. Walker & King, and their fifteen associates of Texas, as follows:
 CITY OF AUSTIN. July 29 l854
 To Hss Ercellency, E. M Pease, Gouer,.or Of the State cf 7eras.-Sir: We hereby propose to enter into contract with your excellencv. by which we will obligate ourselves to con- struct the Mississippi and Pacific Railroad from a point on the eastern boundary line of the State Of Texas, not north of the town of Fulton Tn the State of Arkansas to suitable point on the Rlo Grande, at or near the town of Fl Paso; to cross the rivers Trinity, Brazos, and Cobra do as near the 32d degree north latitude as practicable. This we will undertake to do on the terms and conditions and for the considera- ton expressedi in the act of the Legislature of the State of Texas, passed for that purpose, and approved December 21st, 1853
 We will agree and bind ourselves to com mence the work within thirty days after the execution of the contract, in case it may be awarded to us. We will undertake to furnish and place ln running order, fifty miles of said road within eighteen months from the date of sald contract; and to furnish and place in like order, one hundred miles of said road each and every year thereafter, until the whole shall be completed. And we will under ake that this shall be of the first class of railroads We fur ther propose to deposit in the Treasury of the State of Texas, par stocks to the amount of three hundred thousand dollars, to be forfeited to said State, in case fifty miles of said road shall not be completed within eighteen months from the date of the contract proposed.
 Signed: R. J. Walker T. Butler King M. T. Johnson, J. A. Greer, w. C. Lacy, 5. A. Maverick, by John Hancock, Atty, G. w.. | Hancock, John Hancock, James H. Raymond James B. Shaw, W. H. Bourand H. P. Bee by J. A. Greer John w. Harris, Matt Ward Leonard Randall, J. Pinkney Henderson, F. B. Nichols
 Messrs. Walker, King & Go. had, previous to the letting of the contract, caused com- pete instrumental survey of the route to be made, at great labor and expense, through Tex as to the Pacific, by an able and competent corps of engineers. This survey demonstrated that the road passes throughout the entire route, through good country and with most excel lent grades for trst-class railway. This sur ! vey will give renewed confidence in the work and insure thous ands of new subscribers to the enterprise.
 Besides the survey already made to the Pa- cltc, we understand that there are now upwards of three hundred hands engaged on the work in Texas, and that, before the expiration of ninety days the number will exceed one thou sand
 This bid, it will b. seen, was in exact con- yi+h tna1 ( valid and legal bid before the Governor, and was accepted. Although the bid, it will be perceived, is entireyi i the name of individuals yet 1t is ta-ed that Messrs. Walker & King will be permitted to bring into the new compa- ny all the 50JlG fife assessment paving stock holders of the Atlantic and Pacific railroad company. Thus the new company, without involving themselves in any embarrass.i ents will be enabled to unite with the new company the money and capital, and subscriptions of the assessment paying stock in the old con- pany.
 The Austin State Gazette from which jour- nal we glean the above particulars, says
 "We have every confidence that this great work will be completed under the present au- spices and no man can anticipate or fully real lze the lncalculable consequences to Texas, to the south, and to the whole country. It will bring through Texas, from the Atlantic and Mississippi, to the Pacific, the commerce of the world, and will necessarily promptly lead to various connections by railroads with our Gulf coast which 1t will be seen by their letter al- ready published at GoZales, are considered in- dispensable by Messrs. Walker and King and, as we understand, by all their associates.
 "We learn that Messrs Walker and King came here, bringing with them the deposit re- qured by law, partly in gold and partly in good par stocks, as required by the law. But to avoid all objections, even from the most cap- tious, they will be ready to change their stocks into specie, so as to make the whole deposit in gold and silver.''
 Among the Texans associated with Messrs. Walker & King, is Mr. Maverick, of San An tonic, who is said to be the largest landholder in the world, and by far the wealthiest citizen of Texas, and no less distinguished for his pat riotisnl, and high character and integrity, than for his large means. Such man, no doubt, could build the first fifty miles of the road him. self; and such names as those of MT. Maverick and his associates will inspire universal conf-