New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-04-23

We are gratifed to learn that large accessions
being made daily to the list of names on the stock
books Of this great enterprise, which are now, and
have been days. open at the office of the Sun
Mutual Insurance Company, corner of Camp and
Common streets. We entertain little question the feel
ing in favor of the work will continue to grow stronger
and stronger as the days come and go; for it is q
work the more it is reflected upon and investigated,
the greater the feasibility of its construction and the
clearer the inducements it holds out.
There is popularity in the charter of this COM
pany, which is not generally understood as fought
to be. Some of contemporaries have adverted toi
and we will contribute our portion to the public nfor
nation. The capital Of most railroads consists in the
stock subscribed. That of the Pacific Railroad Com
pany is declared in the fourth section of its charter,
to consist of all its property real and personal fran
chises and rights to property, which shall be divided
into shares Of 500 each said shares shall be deemed
personal estate From this section it is apparent at
glance that the stockholders not only constitu
ted the owners of so many shares, but endowed
with property in the road ITSELF and all and every
thing appertainng thereunto rapidly as the work
progresses onward tawards completion. This u.s. Ger
tanly aside from all things else an nducement of no
! ordinary character and when taken in connection
with the lands donated and the loans promised by
Texas those becoming stockholders under the char
ter are almost guaranteed profits on scale OF muni-
such as has no parallel the annals of civilized
enterprises.
Enforcing this view Of the subject, and aluding to
the subscriptions that will undoubtedly be realized at
an early date, the Bee Of yesterday morning appos-
| itely remarks:
With this amount, it is confidently believed that a
| sufficient number Of miles of railway can be COM
peted to ente the company to the donation OF lands
and the loan by Texas OF $4,000 per mile, provided
by the charter. Thenceforth the road will be sesus-
tanning aud further issue Of stock will be needed,
because either the sales of public lands will produce
available funds, the company can issue its bonds
upon such ample and undoubed security as will com
mand confidence and ensure the of continuing
the road When this road reaches Ell Paso the assets
OF the company WILL in all probability, far exceed in
value the amount Of stock issued. A very moderate
| calculation estimates the value of the road, when
completed at not less than hundred millions of
dollars. The company will consequently be bound to
issue to the holders OF the tftyfour millions of dol
lars of stock, additional stock, SO that the capital
stock which, it will be borne in mind consists OF the
entire property franchises and rights OF the company
may be divided into shares OF 500 each, in conform
ty with its charter. The consequence will then be
that every man who has paid five dollars for single
share of $780, will receive another certificate of stock
emitting him to the proportion Of the of value
Of the road the amount Of stock issued. This is
view of the subject rarely brought to public notice,
yet is well worthy of consideration since it adds
other to the many inducements of purely specula-
tive and pecuniary nature, for investment in this gi
| gantic project.
We understand that great many letters are re-
ceiyed every day from persons in this and the ada
cent States asking for information in reference to
the Pacific Railroad. We are requested to advice all
DESTROYS of obtaining accurate intelligence in the
premises to address Mr.. George C. Lawrason, seere-
tary Of the Company, at New Orleans.