The true Democrat., 1856-04-15

25 miles of railroad within years thereafter, (to wit: by the 3Oth January, 1856,) further donations of land to be discontinued, unless sad companies shall complete 25 miles of road each succeeding year; provided also, that the provisions of said act shall not extend to any railroad, the terminus of which is not fixed on the Gulf coast the bays thereof, or on Buffalo bayou, expressly inhibiting the Texas Wes- tern railroad company from its privileges, leav- Ing It entitled, as before stated to oniy 8 sec- tlons or ,, TO acres of land to each mile of road completed. No part of this latter act is in any way applicable to the Texas Western charter. The error which you have fallen into. has no doubt originated from the fact of that company having in their several publications. embodied the first section of that act. carefully leaving out the succeeding 12 sections, which contain the gist of the act, constantly persist ing in representing to the public, that they have lO,24O acres of land to each mile of road, when they are entitled to only half that quan- tity. This is by no means calculated to inspire confidence in the company; but on the contrary 1t will have the effect to cast suspicion on southern enterprises, retarding rather than ad- vanclng the construction of any railroad through Texas, as part of the proposed Pacific. It will also be remembered, that they claim other lands under other charters, and that their line covers the exact route of the 20 section char ter; but am not in possession of any facts that warrant any such additional claim nor have any reliable information, as to the extent os the work done on that road. By recent state ments in the newspapers, published in the vici- nlty ot the work, 1t appears there are 26 hands at work on the road and not 40 as previously reported. Of the amount of paid stock repre- sented to have been issued, l have no kuoWl- edge, nor do know whether such stock was issued for valid consideration, or not This information you can obtain from another source.
 You seem to think yourself and friends may make handsome speculation by taking $2O,- OOO of stock in that company upon which the calls can never exceed per cent. or Sl ,OOO, in the aggregate. l have no wish to discourage you, or to place single obstacle ill the way of any railroad proposed to be built, to unite the Atlantic and Pacific oceans; indeed. we are all in favor of such road if it can be built; capi- tai, however, does not seem inclined to touch it.. Upon any of the proposed plans now before the country, many have already taken occasion to condemn the Texas Western railroad scheme, as one of the most magnificent bubbles of the day, which they say, may succeed for a season, m bringing many within its folds, but which, like everything else based upon false prjnci- ples Is sure to succumb at last Without, how ever, offering an opinion, matter of very se- condary importance l may presume to offer a few words of advice-examine the subject u all its bearings before you embark in it.
 That you may judge for yourself, I have given you facts as understand them and leave you to draw y0nr own conclusions; they are be- leved to be sufficiently correct, so far as pre- sented, for all practical purposes, which I pre- sume no one well informed upon the subject, will attempt to controvert.
 tis utimated in your letter, that the admi- nIstratlve affairs of the Cairo and Fulton com pany, are in some way connected with the Texas Western company. It is therefore pro- per that should disabuse you of this error by distinctly stating the fact to be, that there is no agreement or understanding of the kind, nor has there ever been, so far as we are concerned Efforts were made by certain parties in 1853, to get control ot our charter, with the view, as We supposed, to tie itup, as they had done in Texas, but 1t failed of success Out of this, reports originated which have no doubt misled you. Our policy has ever been, and still is, to hold ourselves aIoof from all entangled allian- ce5 with other companies and roads The flu slon ot the Arkansas and Missouri companies previously alluded to was an indispensable pre-. requisite to success, as 1t was not only direct through line, but entitled to lands under the same grant,.