The true Democrat., 1856-04-29
From the N. o. Picayunc, April II The M. O. & R, R, Railroad.

From the N. o. Picayunc, April II.
 The M. O. & R. R. Railroad.
 Mir. John Dockery, president of the Missis- spp Ouachita and Red River railroad compa- ny, Is now in this city on the business of that road, which we have often had occasion to speak of as one in which New Orleans has a large and direct interest The road is now ad- vanced to that point where it's success is no lon ger matter of speculation, buta demonstrable fact, and where little assistance given in time will accelerate its completion on terms which present numerous advantages and highly bene- | ticial results
 The annual reports of the officers of the road, made to the stockholders in November last were noticed at the time, in this paper, at length as very favorable. The leading and en- couraging facts developed were, that that con- pany had concentrated their force on the cas- tern division of the road, which extends from the terminus on the Mississippi river to Cam den, in Arkansas, and had made such con- tracts ands provision of means as insure the completion of the road bed from the local re- sources. Indeed, the means provided within the State for the completion of the work, will show a considerable surplus and what Is now required Is provision fer ironing and equipping It for active operations. It Is especially Gesira- ble that the first portion, extending across the Mississippi bottom, about twenty miles, shall be put into service as soon as possible, and very large calculations are made of the advantages of this short line of communication to the trade of New Orleans, and very large portion of the interior of Arkansas, reaching to mort hern Lou isana. When the whole line to the Ouachita shall be completed, it will be- as an independ- ent road, of vast importance to the develop ment of large and productive region-consid- eratlons which should gage the attention of the capitalists of this city, and lead them to afford all the support they can to the enterprise. What is proposed by the president who comes fully empowered by the board of directors to ] confer with our citizens on this subject, is, to obtain the means for ironing and equpping the road, as fast 1t may be wanted, on the secu- rty of the whole road and its equipments, as completed. The plan which has been devised, and which is to be offered here, is to obtain an advance of money, or avaiibe acceptances on the security of bonds, bearing an interest of per cent, payable esemi- annually, until the com pleton of the road to Red river when the in- terest is to cease, and the bond converted into stock certificate for the amount expressed on its face. The principle of the proposition is that, instead of subscriptions to the stock payable in installmentS, as the wants of the work may re- 6Ina sum should be raised in gross, upon
 crest shall be paid until at the com-
 the work 1t shall become stock, and
 shall be substituted for the interest rhe slim being secured by lien on the entire road, of which the bed will have been laid throughout, and paid for, the payment of the interest is to be provided for from the earnings of the road when in operation; and the road is to be put into operation immediately by these means. The work to be done on this eastern section is so small, and the force employed upon 1t is so strong that the engineer in No- vember last, promised the directors that it would be ready for the iron, with the exception of two bridges only, in October next; and with iron purchased by the first of September next, the cotton crop of 1857 can be brought on the rail road from Camden to the Mississippi river and thence transported to New Orleans in the same year. Our readers know how immense is the product of that region, and how greatly it will increase with such facilities of transportation The revenues which it will furnish to the rail- road, must be largely beyond the interest stiru- lated to be paid for these advances. These are, however, subjects for the investigation of those who may feel disposed to take an interest in aiding the plans; and we are assured that the | president of the company, who iS to be found at the city hotel, will cheerfully make every explanation which may be asked for to satisfy doubts. Our present purpose is to draw public attention to the subject, with the view that it may receive all necessary examination, to es- tabllsh public confidence in project which is of such great promise to Louisiana and New | Orleans
 There is another character belonging to this road which invests 1t with a more national in- terest than its connection with the commerce of the southwest It has been accepted as an n- tegral part of the great Texas road to Fl Paso, and this will constitute the main trunk of the only possIbl Pacific railroad. The Texas com pany is the original Wick sburg, Texas and Fl Paso railroad, to which such large grants of land were given by the Texas Legislature These grants were confirmed at the late session of the legislature, with an extension of the time within which the privileges can be secured Four years are allowed within which the work may be commenced upon the Texas road. and twenty-five miles only required to be completed at the end of five years, and further completion oi ten miles per annum, to entitle the company to receive the benefit of the enormous land pri vlleges. This extension of four years was ob- talned with the express veiw of enabling the company to consolidate itself with this Missis. sippi, Ouachita and Red River road, when il shall have reached the frontier of Texas to which the surveys have already been made and for the extension to which point the means of the Texas company are pledged, and the conditions of the future consolidation adjusted between the two companies. This, however, is grand feature which does not belong to the question, practically submitted at this time for the completing of the section nearest to New Orleans and will not affect either the security or the prospects of the investment asked for at this time.
 We commend the whole subject to the ear. nest attention of our citizens, and ask them tc hear and favor the application of MT. Dockery for their counsel, and for such aid as they may ind the enterprise wants, in order to ensure its completion.