The true Democrat., 1856-01-01

able in every particular) and a series of orders and resolutions of the company, written by himself as he stated, proposng.to issue the company's bonds, on the faith and credit of the lands, for $1,5O0OOO or so much as shall be ne- cessary, all of which was approved and highly complimented by our citizens who were pre- sent at these meetings, while the confrmatory speeches of our talented townsmen, Gen. Hampstead, Capt. Pike, Hon. Geo. c. Watkins and Col. H. M. Rector gave force and conf- dence to this scheme, but there is no disgusting the fact that these gentlemen miscalculated the nature and strength of Bradley's disingenious plans, so artfully gotten up for this occasion.- Capt. Fixes speech was very generally liked by his hearers. But what did he mean, by telling them "that it was better to build road to Memphis than to Cairo, where the underground railroad beglns?" He certainly did not suppose that the Union would be dissolved by the American people, and all intercourse between the north and the south terminated.
 Afterwards these Memphis resolutions and orders were spread upon the city journals, and thereafter the city council proceeded, without authority of law, or even investigating the sub- ject sufficiently, to obtain any reliable informa- tion whatever, as to the true condition and abil ty of that company to orderthe city bonds issued, and assessments to be made upon your proper ty to pay the interest to accrue thereon, all of which It IS believed is an unwise imposition upon your rights and the prosperity of the city. Meantime our contemplating citizens, Messrs. Stillwsll, Tucker, and Henry were so far mis- lead by Bradley's sophistry as to take an active part in soliciting stock subscriptions to that company, all of which was we'll calculated to misdirect your udgment for time, by favor ing the emission of our bonds, though now be- lieved to be generally disapproved of by the more cool and sensible portion of the tax-pay- CTS, but unless you make known your disappro- val by your votes on Monday next you will be responsible for the consequences.
 On the 18th of March, 1855, after soiourn of three days, MT. Bradley left our city triumph ant, having reached the eliminating point of his romantic ambition and in the conscious be- lief that he had not only converted our citi- zens to his bubble scheme, but that he was fair
 y entitled to the premiership of building paper railroads in Arkansas. Since then the Mem phls company have been running other lines, mostly through the swamp land country, be- tween the St. Francis and White rivers. in which land that company and their allies have the credit of spcculating pretty largely, claim
 ing the right to change the line laid down on their map, and prol osng to cross higher up at Taylor's Bluff or Des Arc 40 miles by White river, above the line fixed by the Legislature, and upon which they know the lands must be selected if at all, neglecting to give any atten- ton whatever to adjusting the land grant, and refusing, when called upon by the proper autho- rlty, to furnish map, exhibiting thereon the route of that branch, to be certified by the Governor and transmitted to the general land office, an indispensable requisite, as they well knew, before the land grant could be adjusted, aud the lands remaining to the United States restored to market.
 In April last, the president of the company made report to the stock holders, in which he stated, among great many other gratuitious matters, that the company then owned, without cost, 497, 900 acres of land under the Con srss- sional grant, that the citizens of Little Rock and its vicinity had taken individually, S75,OOO of stock in tho company, and that the general land office was engaged in listing and setting of the company's lands. Thisis controverted by the very records, to which he refers, and upon which he must rely for proof, to sustain his as- sertlons Nothing has been done up to the present time, as he doubtless we'll knows. to- wards the selection of the lands on that branch. Although the appointment as agent of the State to make such selections has been offered him, he has wholly neglected to accept, or respond to 1t in any way. Strange as it may appear, the president or agents of the company have been proposing or offering to sell the company's bonds professed to be secured by a mortgage and deed of trust to George w. Riggs, James FL der, and Hon. Elbert H. English, chief justice of the State of Arkansas, as trustees, upon ASS, 600 acres of land claimed to be owned by them under the Congressional grant, when they have no assurance or good reason to believe, that they will find 10000 acres within the Ii. mlts of the reservation applicable to the grant It Is neither my wish nor intention to be dis corteous to that company, or any of its officers, but the case under consideration is of so remark able a character, and the facts bear with so much force against them that any statement of facts, however mildly expressed, may perhaps seem to the impartial reader, harsh and uncalled for
 In the early part of last spring, Mr. Prentice, one of the parties interested in the contract, published in his own Journal, an editorial ar ticle, greatly eulogizing the character and un- rivaled ability of that company, and the ways and means provided to build the road He says the company town free and clear without cost 489,OOO acres of land," and in speaking of the company's bonds, he says certainly there can Uo otCuItleS tIldIl tIlcSe, aIlu we SOIL. cit for them the early attention of capitalists. Every one of them, principal and interest will be paid as it falls due, and no bond can be bet ter than that" In alluding to president Will liamson's last report (biased no doubt by nte- rest and selfish ambition,) in his zeal to comply with his part of the contract, he uses this very remarkable language, that the matters placed before us by this (Williamson's) report, as we'll as other matters known to us personally, do most certainly in our opinior, cntitle this road and company to occupy a very high, if not the very highest position as to wealth and value, and prospect of prosperity, which has been or can be held by any road in the country" Dis- creditable and unauthorized as that article was, in all its main features, it was copied into most of the leading railroad journals of the day, and contributed in no slight deoree in misleadno