The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-21

The Pacsnc Railroad Through Texas.
pEPosIr MADE AND Ao0EPrKD.
appears that the deposit has been accepted.
The Austin STATE Times, OF the zth last, gives the
ton 70 the coatract:-
On tie 2lst Of October Mr. George Hancock
placed in the hands OF ia nes H. Raymond, State
Treasurer. certificate Of twentyfoar Thousand
shares IN the Sussex Iron Company, ct $l2 so per
shaze, amounting TO three hua red thousand dot
lars On the 18th October, arrived Q report of the
Sussex lrca Company, exhibiting the soudtion of
muniost!on fiom Rodman N. Price, Governor Of toe
State Of New Jersey certifying to the correctness Of
tie exhibit, the solveDcy of toe company, and the
par value OF the stock. George n. Dallas, ex-yi,e
Presidt1t Of the United Ssa'es, aud Chancellor
Kent, Of New York, both gave certificates coro
borating Governor Prices, and expressing ,inions
that the stock was at par, and fully satisfied the
requianon OF the 18th section Of tae act for tho
-constSuls zion o. the Mississippi and Pacd railroad.
However, previous 70 the arrival Of tnese evil
dencee Of the value Of the stock, Mr.. Raymond
gave Governor Pease an informal notice Of toe re-
ception Of tia stock, and submitted the papers to
him for he examination; and ~e understood from
good authority that the Governor declared they
would not answer. On the 2Sth Of October Mr.
Raymond bottled the Governor officially Of the 70
ceptioA Of the ock, and designated Its character.
On the soth Of October his Excsllsncy the Governor
addressed . c0mmuni Ation TO Mr.. Raymond. the
State Treasurer, In which he gave an opinion thai
the stocks Of the Memphis Mechanics Bank, aud
to use his own expression, / consider them insult
fcient.n
From last summer up to within . few days past
the Governor had assumed she right OF judging or
the suiiciency Of the securities offered q deposit
but it was c0ntcuded that in accordance with the
twelfth section OF the act the Treasurer WAS the
only legal authority to decide the question.
On the 81 of November, Gov. Pease addressed
note to NJ. Raymond, asking If deposit had been
received and accepted at his Office coming from r.
J. Walker aud bis associates IL accordance with the
REQUIREMENTS Of contract and law.
10 this so'e Mr.. Raymond ia preparing q reply.
This latter move opens the whole question; w1en
or how che matter will be decie1 Is yet to be de-
fermined. The notices we made last week. and ia
clip from our ONCE Of this week, were predicated
ON the des!ara' ions Of tie Governor and others
cognizsnt OF hacspiring events. Until the last day
or 80 we bad viewed the contract as having expired
with the refusal OF the Governor 10 receive the de-
pcsit bat since IL appears he il not charged with
TIE petfo nance Ct that duty, we are disposed t.
believe Of berwise.
Tee State Tunes, in an extra issued on the night
OF the 4th. announces that the State Treasurer had
notified the Governor officially II the reception OF
deposit of $500 900 the part of r. ]. Walker and
associates.
The State Times extra contains the correspond
ence, which We copy for general information =:
Executive OFFICE,
AUSTIN, Texas, Nov. 2, 1854.
SHIT has become my duty, OH ially, to inquire
OF You whether Messrs. R. J. Walker, 7. Bdtler
King, n. T. johnson, ]. A. Greer, w. G. Lacy,
Samuel A. Maverick, George Hancock, John Han,
cock, James h. Raymond, James B. Shaw, VIM. 81.
BourlaDd, H. p. Bee, John w. Harris, Matt. Ward,
Leonard Randall, J. Pinckney Henderson, and d
Governor Of this State, on the 3lst day Of August
last to construct the mississippi and Pacific Rail
N cd, under the provisions Of IAN act 10 provide
for the construction Of the mississippi and Pacific
Railroad" approved December 81, 1853, have de.
posted with you, % the Treasurer of the State Of
Texas, three hundred thousand dollars in gold or
sver or evidences Of debt Of the State Of Texas or
miles or mors Of said read shal be CONSTRUCTED and
in complete order for business within tho term Of
eighteea months from tho date of said contract, in
accordance with the provisions Of the 18th section
And, also, whether such q deposit was made and
accepted by you within sixty days after the said
parties entered into said contract? An answer is
requested at your earliest convenience.
Very respectfully, your ODE dent servant,
4 E. n. PaAsE.
JAS. H. RAYMOND, Treasurer, &c.
TREAsuRER's OFFICE,
AUSTIN, Nov. 4, 1864.
SRI have the honor to acknowledge the ecsipt
Of yoU ExcelleDcys favor Of the I'd inst, PROFOUND
/ irg certain inquiries relative to the deposit Of
600 By the contractors for the building of the
now respectfully beg leave to answer all Of your
inquiries Ia the afrma.ive, and further state that
st the earliest moment possible, WIN lay before
your Excelieccy my reasons for 80 doing.
have the honor to be your Ex,ellencys obedien
servant, JAMES 81. RAYMOND.
To hi. Excelleney E. M. PEAsE, Governor, &c.
In pub,shing tbis, the State Times remarks:--
1 Judging from the Governors inquiries, 1t may be
infeed be will take the view entertained by others,
and deem she matter settled by the act Of the State
Treasurer. If such be the case, there Is cause to
congratulate the people Of Texas upon the fns dis
position Of question of vast importance to them in
every point of view.
Up to this period We have discovered nothing in
the acts OF bsaang of the Pacific Company to imp air
confidence. We are convinced they are acting in
good faith ana are determined to build the road in
accordance with the contract.